Managers take on both the accountability and the authority to get things done. Hiring an office manager who is responsible for ensuring that your infrastructure needs are met and keeping everything running smoothly is a good place to start. Give the office manager a written position description that clearly outlines his role in the company and how he will contribute to its overall goals. Because you've delegated both the responsibility and the authority of managing the office to another competent individual, you can relax knowing it will be done correctly. Hiring an office manager is often a very hard decision for financial advisors to make because they find it difficult to give another individual the power to run their offices.
Many advisors like to be in charge.
But in delegating and giving up some power in one facet of your business, you'll harness power in other areas that you really care about, such as generating income and interacting with your clients. The key is to hire the right person. Accountants who have worked for a Big Six firm and are looking for a more relaxed lifestyle and a better income may be a good choice. This type of person is typically very organized and systematic, and is generally a good counterweight to the more freewheeling approach of most financial advisors. As you build structure to your business and hire managerial people, you move from having a job to running a small business.