In a recent webinar I hosted with Peter Mallouk of Creative Planning, I took a poll of the attendees and asked them the following question:
By the time you “retire,” what is the annual revenue that you want to have grown your business to?
My objective with the poll was to gauge the aspiration of the audience. Here’s what we found.
- About $1 million (8%)
- Between $1 million and $5 million (28%)
- Between $5 million and $10 million (15%)
- Greater than $10 million (37%)
- No particular number; I just want to grow (12%)
Looking at the results, more than half of the advisors (52%) said they wanted to build a business with more than $5 million in revenue and more than one-third (37%) wanted to grow past $10 million in revenue. A pretty ambitious bunch!
So, what are the keys to growing to $5 million and beyond in revenue?
Peter identified three. Read my article describing them here.