Next week, the BVWire will be taking the advice of Lance Hall, who recently spoke to appraisers and valuation analysts at NACVA’s 14th Annual Consultants’ Conference in Washington, D.C. His session, “Guiding Your Practice to Larger Fees, Higher Profits, and Greater Personal Satisfaction” focused on the “economics of scarcity.” That is, the value of anything—be it product or professional—goes up when it’s rare or scarce. “By making yourself less available,” and by focusing your time on quality engagements and clients, “you’re putting a higher value on your own time and talents.” Delegate all but your unique abilities and intellectual capital, he advised. And yes—take vacations without cell phones.
The BVWire plans to do just that in the coming week; we’ll be back with our next edition July 25th. Best wishes to everyone for an enjoyable summer break, whenever that may be.
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