Happy employees There is an essential element in attaining business success that's often overlooked by many business owners: what "success" means to employees. (Photo: iStock)

To build a successful independent advisory business, it's essential to have a very clear understanding of what "success" means to you — the owner.

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  • Is success about generating a large amount of revenues (as many owners today seem to believe)?
  • Being able to spend a significant amount of time with your family?
  • Increasing your personal income?
  • Or having control over your working environment and how you serve the client?

These are all worthy goals. And over the years, owning an independent firm has proven to be a good way to attain them.

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Ginger Szala

Ginger Szala is executive managing editor of Investment Advisor magazine. She covered the financial business and alternatives industry for 30 years while editor of Futures Magazine Group. MSJ Northwestern, BA University of Wisconsin-Madison. She is based in Chicago. Go Blackhawks!