Wouter is the Founder of Attooh Financial Group who help ordinary people to become Millionaires and help Millionaires to become financially independent.
The concept already started out for Wouter when he was 13 years old and had to get involved with the family finances when his parents got divorced. He studied Bcom Accounting and his first job was at the stock exchange where the finance world just intrigued him. He always knew that he wanted to run his own business to make a difference in the financial services space and that dream became a reality in 2009.
Wouter already started with some of these successful habits while still working in corporate which essentially made the transition from corporate to entrepreneur easier.
Time cannot be managed but you can manage your priorities each day which entails to have structures for each day. You have to schedule time for yourself and schedule things in advance based on the priorities you have identified.
Wouter reads a book a day, put it in a mindmap and take the core lesson to see how it can be implemented that same day. He takes it further by applying his mind in terms of who can he teach this lesson to.
Speed reading is all about reading with purpose and committing beforehand to the one concept you want to learn from the book which will make your brain find the answer as part of the reading process. Taking a page worth of notes to summarise the book and re visiting the notes on a ongoing basis as memory is all about repetition.
Wouter makes sure he is aware of the people he meets each day and what purpose it delivers. He thinks each day about growth strategies of the business and he applies 3 questions each day
- What should I start doing?
- What should I stop doing?
- What should I continue doing?
In terms of prioritising each day to make sure it is functional he will ask these 4 questions:
- What do I need to Do.
- What do I need to Dump.
- What do I need to Delegate.
- What do I need to Diarise.
Starting out as an Entrepreneur:
It is important to figure out what are you good at and focus on these, the rest should be outsourced as soon as possible.
The Biggest Challenge Starting Out:
Getting over self doubt and believing in himself starting a business with a big vision. He first had to spend time to define this vision for the business which was bigger than himself and to really make an impact.
The Current Biggest Challenge:
Growth in the sense that the business has grown by more than a 1000% in the last 5 years and getting all the systems and procedures in place to align with the strategic goals.
Analysing the Business:
USP: Educating and empowering each client through financial literacy material available as courses and books.
The group focus on each financial planner and empowering them to be the expert, each financial planner choose the segment where they feel most comfortable in.
Tactical marketing with a long term focus on engaging with a potential customer for the next 5 years as they will be ready during the the time period to consume some of the products. The freemium model where you need to give something for free that is of value that allows you to build a connection.
It is build on 3 pillars:
- Personal – technology allows you to build a personal relationship without having to meet each individual.
- Add value – provide something people want.
- Frequency – relationships is build over time based on number of interactions.
Each client represents 7 potential streams of income
- Personal Life Insurance
- Business Life Insurance
- Investment products
- Personal short term insurance
- Commercial short term insurance
- Health benefits
- Asset Consulting
The focus for the future is to build an annuity type income with each client which will either be paid by the client or come from the product that is sold to the customer.
Some of the major costs associated with working in the financial services industry is compliance which is managed in house with about 10 people working on it. Software that helps with client analysis also adds a lot towards expenses.
Reset Button Scenario:
At his core he is an educator and besides the financial industry he understands the business of starting businesses which would make him a good business coach. He might diversify into a venture capital firm who will invest in the businesses he coaches.