Perfectionism is one of those “virtuous vices” that holds people back more than they realise.
I recently joined Virgin Active at Moore Park, a large, impressive gym that makes me want to visit even when I’m not exercising.
As part of my membership, I received four sessions with a personal trainer named Laura. During our sessions (which included plenty of bear crawls — exercises I really dislike), we started talking.
Laura is strong and fit, with a physique more in the Rhonda Rousey ballpark. She’s passionate about encouraging young women to incorporate weight training into their routine for looking and feeling great.
While pushing me through shoulder presses, Laura shared her background.
She has a business degree, travelled for a year, quickly launched a new café in just two weeks, and held a key sales role at Virgin before becoming a personal trainer.
Now, she wants more.
She wants to build a big business to share her message globally and become a successful entrepreneur.
When I asked how far she had progressed, she said she hadn’t started yet but had plenty of ideas. “I’ve never failed at anything,” she told me. “I don’t want to start now.”
That conversation struck a chord with me. Laura was caught in the classic trap of waiting for everything to be perfect before launching — something many financial advisers and business owners face.
How The Crippling Weight of Perfectionism Impacts Success
“Are you a perfectionist?” I asked.
“Totally,” she replied.
Bertrand Russell once said, “The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts.”
This perfectly explains why many highly skilled financial advisers struggle to grow their businesses while less expert peers succeed.
It’s not about intelligence. It’s about perfectionism.
If you’re letting perfectionism control your business decisions, you’re limiting your practice success.
You must let go of the need for everything to be 100% flawless before taking action.
- Waiting for the right moment, ideal headspace or “one more client” to grow your advisory business keeps you waiting.
- Believing you need the perfect Statement of Advice (SOA) template or to find the exact CRM system that can do it all keeps you stuck.
- Tolerating aspects you dislike about your business keeps you repeating the same story next year.
Those who succeed understand that business growth involves ongoing challenges and constant adaptation.
They don’t wait for perfection; they act and adjust along the way.
Taking Action for Practice Success
With the new year fast approaching, it’s time for reflection and clarity.
There is never a better time during any 12-month period to take steps toward practice success and business growth.
Whether working solo, with partners, or alongside a business development manager (BDM), book some time to plan your next moves right now. Identify three key actions to complete between today and March.
Then take your first step within 48 hours of returning to work. It doesn’t have to be perfect — aim for 80% done, then delegate or outsource if needed. Put perfectionism aside and focus on momentum.
Here’s my offer: if you’d like to spend an hour with me — as I did with eight advisory businesses last December — I’ll help you get crystal clear on your current position and growth goals.
I’ll provide two or three practical strategies you can implement immediately to boost your practice success. If we decide to work together after our session, I guarantee it will be the best kick-start to your year ever.
Turning Passion into Action: My Story with Laura
Next week marks my fourth session with Laura. She’s promised a tailored fitness plan to help me smash my goals this year. In return, I’ll share the best insights I have to help her turn passion into practical steps toward building her entrepreneurial dream.
Working with driven people like Laura is inspiring — their enthusiasm is contagious.
Remember, the year is ready for the taking. Don’t wait for perfect conditions. Start now and build momentum toward your own practice success.
