04 Jan 2021
I have seen many MFDs trying too many things to grow. It seems as if they have FOMO (fear of missing out) if they don't participate in every training program, do not do social media campaigns, do not increase their product basket, and so on. Yes, it is important to plan and do activities but you must know what is your core competence. You should also follow the principle of 80/20. Mutual fund distribution is a simple business and you must keep it that way. Meet clients regularly, work in their best interest, have a good back office team, and sharpen the saw every now and then. That's it. All this will take care of your business by 80%. It will also allow you to have extra time to help you live a great personal life. Step back. Take a look at what you are doing and what you can cut.