In a previous article, the acronym SHIFT™ was introduced to summarize the five key strategies you must put in place to move your firm from compliance to advisory services. Similarly, SHIFT™ can also be used to explore in depth the soft skills, focus and mindset you must master in order to successfully execute the shift to advisory.
Perhaps not surprisingly, practitioners who have victoriously made the shift to trusted advisor rarely attribute their success to apps, tools of the trade or technology. Rather, they all point to the same key attributes, skills and mindset needed to execute the transition away from compliance.
The decision to expand your offering to include advisory services is just the first of many steps in your journey. In most cases, it will take years to develop the soft skills, clarity and agility. And, as you are about to discover, this journey you are embarking on brings with it a challenging minefield of continuous setback and improvement.
Where in the past, you may have become accustomed to seeing your career progress upward in a linear or chronological fashion, this new endeavour is circuitous and unpredictable. To a large extent, your abilities and skills will be forged and formed by the many challenges and setbacks that you experience while shifting your practice away from compliance.