None of my Business S6:E12- Stoney Foster

On this episode, I have Stoney Foster who is a financial advisor for Hall and Associates here in Eagle Idaho. I really got interested in Stoney’s story when I found out he sold his chiropractic business of 23 years and went into Financial Advising. There is a lot to unpack there.

We talked about how he got into chiropractic and what it was like building that business up. I am always interested in what goes into selling a business. I don’t necessarily mean the mechanics of putting a business up for sale but also the emotional and mental toll it takes to sell something you have built over the last two decades.

Stoney decided that essentially, running his own chiropractic business was too much from a scheduling standpoint. He wanted more freedom and more time with his family. It’s one of the main reasons we get into business for ourselves in the first place. Also seeing 40-60 patients a day was taking a toll on his physically.

His financial advisor at the time got in his ear and told Stoney that he should consider becoming a financial advisor and that is the direction he went. He just entered his third year in the business and we chat about what the first few have been like.

Becoming a financial advisor isn’t necessarily hard to do. It falls in the camp of other sales jobs like insurance agent, realtor, or mortgage broker. Make no bones about it, these jobs are very very hard to succeed in. You have to have a deep well of patience and the discipline to be almost maniacally self-directed.

Stoney tells me how he had a pretty big head start for two reasons. 1. He ran his own business for 23 years and he has that well of experience to draw from. 2. He has a larger natural client base of people who trusted him.

The challenge for him now, like everyone else, is how to get in front of people when your natural market has been exhausted. We discuss what kinds of things he is doing to meet new people and continue to grow his business.

My thanks to Stoney for coming in and sharing his story! Check out his links below and reach out to connect with him.