Always growing: Surround yourself with trusted advisors

Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.

It is important to surround yourself with a group of trusted advisors to support your personal and business growth. One of the important elements of achieving personal financial independence is finding a group of mentors, subject matter experts, loyal confidants, respected experts and, my favorite, a personal wingman. 

Here are the things you need to consider when locating and assembling your tribe to help your business grow.

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Important roles

When you think about this group as a real estate professional, it is important to think big picture.

Consider the following types of professionals to be in your group:

• Mortgage broker
• Accountant/CPA
• Financial planner 
• Bookkeeper
• Commercial and/or residential insurance broker 

Why do we want to do this?

A trusted advisor will tell you the hard truth! If they feel you could execute your mission differently or better, or you are overlooking something important, they are there to speak the hard truth in a kind way so you understand that certain actions could really help you accelerate your business or could really be a bad idea.

Even more than being helpful, your trusted advisor will likely make great referrals to you because they trust you and like to work with you. 

Common characteristics

Some characteristics of trusted advisors who will speak the hard truth to you:

• Altruistic: Trusted advisors prioritize their client’s needs over their own, acting as part of their clients’ teams to find the best solutions. 
• Ability to listen: Trusted advisors listen attentively, ask questions, assess situations and offer recommendations while respecting corporate culture. 
• Deep experience: Clients are impressed by advisors who confidently discuss real-life applications of rules and concepts. 
• Independence and courage: Trusted advisors challenge clients and say “no” when necessary, prioritizing the client’s best interests. 
• Empathy and service orientation: Trusted advisors understand clients’ needs and emotions, building relationships based on empathy and a genuine desire to help. 
• Adaptability and insights: Trusted advisors help businesses adapt to new challenges and market shifts, keeping strategies agile and effective. 

How can this circle of trusted advisors really help you grow your business? 

A CPA/tax preparer can assist in helping you structure your business so it is more profitable, analyze your business results and prepare financial strategies that help create new sales and grow profits. The CPA should also help you reduce your tax and potentially explore traditional retirement possibilities that you can discuss with your financial planner.

Mortgage lenders will help your clients get the best mortgage to suit their needs, thereby helping you make sales.

Insurance professionals can help your clients get the best rate on insurance or help you close a deal by finding the resources to assist your clients in sticky situations. Insurance professionals can also help you purchase the right type of insurance for your home and business at the best prices.

Financial planners can help your clients restructure their portfolios to make them more attractive borrowers to the mortgage lender. They can also help your client grow their wealth. 

By the way, the financial planner will also want to help you do this with your assets. Many times, financial planners will work hand in hand with your CPA when it comes to tax planning and investment strategies for your portfolio.

Attorneys are there to keep us out of trouble and to protect us and our clients. If they are outside-the-box thinkers, they provide a sounding board for you and your clients when negotiating tricky contract changes.

So, get networking, get interviewing, and find a few trusted advisors who can help you grow your business. Look to other friends in your current network for referrals, and take your time getting to know your experts so that you know how to best capitalize on their skill sets. Remember to schedule regular time to network with your group to create synergy.