The Funny Thing About Advice
…is that the perceived quality of- and the results produced by- a bit of advice depends more on the recipient than the advisor.
There are those clients that don’t recognize good advice even when it slaps them in the face. You as the advisor feel frustrated and sad that you can’t help your client. A client who implements your advice combined with their own misguided notions may even blame their poor results on you…which can harm your reputation.
On the other hand thankfully, we all have clients that seem to take advice very well…and they very much appreciate professional services. They put your ideas into action and make great things happen with their businesses. As a result, you as the advisor feel great knowing that you have helped your client. You and the client both benefit greatly as a result of the relationship.
I have come to realize that the 80/20 principal is strongly at play here. 20% of your clients produce at least 80% of your pain. 20% of your advisory clients are likely to produce 80% of your advisory profit and satisfaction.
My advice to you: choose your clients carefully. Happy New Year!