---
title: 295 - Your Packed Calendar Is a Scaling Warning with Nathan Parkhouse
description: Nathan Parkhouse explains how founder dependence, undocumented processes, and weak client handoffs limit scale and business value.
image: https://pod.allies4me.com/hubfs/Podcast/Episodes/Nathan-Parkhouse-LnL-R2.jpg
---

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## 295 - Your Packed Calendar Is a Scaling Warning with Nathan Parkhouse

October 15, 2026 by [Craig Andrews](https://pod.allies4me.com/podcast/author/craig-andrews)

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Nathan Parkhouse shows founders why a packed calendar is not proof of indispensable leadership—it is often evidence that the business cannot yet scale without them.

A founder’s constant availability can feel like exceptional service, but it can quietly make the entire business dependent on one person. When every client relationship, staff decision, and operating procedure routes through the owner, the founder becomes the decision bottleneck—and the business becomes difficult to scale or transfer.

Nathan Parkhouse explains why undocumented processes and founder-only client relationships undermine transferability. The solution is not to hire a clone or surround the owner with yes-people. It is to develop complementary leaders who can own the work the founder dislikes, struggles with, or should no longer be handling.

That transition also requires an intentional client trust handoff. Rather than abruptly replacing the founder with someone unfamiliar, firms can bring the next advisor or salesperson into conversations early, give them visible responsibility, and allow clients to experience their judgment. Trust moves gradually when the relationship is shared before the founder steps away.

Nathan’s experience building Parkhouse Financial offers concrete evidence that this work matters. After nearly 20 years, the firm attracted seven offers and completed a sale at 4.25× recurring revenue. His conversation with Craig explores what owners must change if they want an enterprise that can grow—and remain valuable—beyond them.

<iframe style="width: 100%; height: 200px;" frameborder="no" scrolling="no" allow="clipboard-write" seamless src="https://player.captivate.fm/episode/f13f00fb-1d48-4266-85cc-f0d196077e16/"></iframe>

## Key Points with Timestamps

- **00:00** — Craig opens with the leadership lesson from the six-week coma that proved his team could carry the business without him.
- **00:56** — Craig explains the show’s commitment to authentic conversations and corrects the sale multiple: Nathan sold his practice for 4.25× recurring revenue.
- **02:47** — Nathan’s work applies beyond wealth management: owners must build businesses that can operate beyond the founder.
- **06:55** — AI should improve speed and efficiency without replacing the human relationships that make clients feel understood.
- **19:07** — The conversation pivots from technology to the systems and leadership choices required to scale an owner-led firm.
- **21:21** — Founder dependence, undocumented processes, and owner-only client relationships make businesses difficult to sell.
- **22:17** — Do not hire a clone of the founder; hire a complementary leader who enjoys and excels at work the founder should release.
- **31:42** — A packed calendar is a scaling warning: constant owner availability usually reveals weak delegation and decision bottlenecks.
- **32:51** — A genuinely scaled business gives the owner a less crowded calendar and shifts more meetings toward developing key staff.
- **35:34** — Clients often want a trusted team, not unlimited access to the founder; Nathan calls this the “trust handoff.”
- **38:40** — Make the handoff intentionally: bring new hires into meetings, let them answer questions, and build client familiarity over time.
- **40:37** — Nathan shares two contact paths: LinkedIn under Nathan Parkhouse or NathanParkhouse.com.

Want to learn more about Nathan Parkhouse's work? Check out his website at [https://nathanparkhouse.com](https://nathanparkhouse.com).

Connect with Nathan Parkhouse on LinkedIn at [https://linkedin.com/in/nathanparkhouse/](https://linkedin.com/in/nathanparkhouse/).

Think you'd be a great guest on the show? Apply at [https://pod.allies4me.com/podcast-guest/](https://pod.allies4me.com/podcast-guest/).

Want to learn more about Craig Andrews' work at allies4me? Check out his website at [https://allies4me.com/](https://allies4me.com/).

## Transcript

**\[00:00\] Craig Andrews:** I was in a coma for six weeks while the doctors told my wife I was going to die. When I woke

**\[00:11\] Craig Andrews:** up she told me the most fantastic story. My team kept running the business without me.

**\[00:18\] Craig Andrews:** Freelancers reached out to my team and said we will do whatever it takes as long as Craig's

**\[00:24\] Craig Andrews:** in the hospital. I consider that the greatest accomplishment in my career. My name is Craig

**\[00:31\] Craig Andrews:** Andrews and this is the Leaders and Legacies podcast where we talk to leaders creating an

**\[00:37\] Craig Andrews:** impact beyond themselves. At the end of today's interview I'll tell you how you can be the next

**\[00:43\] Craig Andrews:** leader featured on this show. Hi this is Craig Andrews host of Leaders and Legacies podcast.

**\[00:56\] Craig Andrews:** One of our values is we don't edit the podcast. We want you to meet the guest authentically and

**\[01:05\] Craig Andrews:** we want you to meet me authentically and sometimes mistakes are made and that was the case in this

**\[01:10\] Craig Andrews:** episode and I'm going to fix that. But you'll even hear halfway through the episode Nathan had a

**\[01:18\] Craig Andrews:** problem with his computer and we had to fix it. It just took a second. We're not editing that out.

**\[01:22\] Craig Andrews:** This is real life. That's who you're meeting when you meet one of our guests. And when I was

**\[01:28\] Craig Andrews:** introducing Nathan I made a mistake. I you know I always have my introductions written out and for

**\[01:34\] Craig Andrews:** some reason I didn't follow my notes. And but here's why I wanted to tell you about Nathan.

**\[01:41\] Craig Andrews:** Nathan is a wealth manager former wealth manager who sold his practice. He grew it and he sold it

**\[01:48\] Craig Andrews:** and he sold it for four point two five times recurring revenue. The mistake I made in the

**\[01:55\] Craig Andrews:** intro with him as I say he sold it for four and a half times. But it's really four point two five

**\[02:01\] Craig Andrews:** times recurring revenue they sold his practice for. And now he works with other wealth managers

**\[02:08\] Craig Andrews:** to help them get their practice tuned up so that they can have a you know a similar exit.

**\[02:13\] Craig Andrews:** If you're not a wealth manager this is still a valuable episode because it turns out

**\[02:18\] Craig Andrews:** that a lot of the bottlenecks that wealth management firms have pretty much every business

**\[02:24\] Craig Andrews:** in its evolution runs into similar type problems. And so Nathan's advice is just really really

**\[02:31\] Craig Andrews:** valuable. I hope you tune in and listen to the episode and just know that what you're

**\[02:36\] Craig Andrews:** getting is authentic. It's not highly produced. It's real conversations including some mistakes

**\[02:44\] Craig Andrews:** Including mine this time. I hope you enjoy.

**\[02:47\] Craig Andrews:** Today, I want to welcome Nathan Parkhouse with Nathan Parkhouse Advisory.

**\[02:52\] Craig Andrews:** Nathan grew his firm, he's a wealth manager, who grew his firm to four and a half times recurring revenue. And, he sold it, for four and a half times of recurring revenue, and now he helps other folks do that as well.

**\[03:09\] Craig Andrews:** But here's the thing, when I'm looking at what Nathan does.

**\[03:14\] Craig Andrews:** I think his lessons apply to any business, you know, and it's the role of the owner, and…

**\[03:22\] Craig Andrews:** Are they getting in the way, or are they getting out of the way, and are they building a business?

**\[03:29\] Craig Andrews:** That is beyond just them.

**\[03:32\] Craig Andrews:** And so we're going to be talking about that, so even if you're not a wealth manager.

**\[03:36\] Craig Andrews:** This, I'm positive, will apply to your business.

**\[03:40\] Craig Andrews:** Nathan, welcome.

**\[03:42\] Nathan Parkhouse:** Thanks, Craig. Thanks for having me.

**\[03:44\] Craig Andrews:** So I was looking in the in the background and I was like, I I thought you lived in the Toronto area, but that doesn't look like Toronto.

**\[03:53\] Nathan Parkhouse:** Correct, I'm a little further up north than I was expected when we, set up the, when we set up the pod.

**\[04:00\] Craig Andrews:** Yeah, like how far north?

**\[04:03\] Nathan Parkhouse:** About… not too far, about an hour north of the city. My son is in… my son's grade 9, and he made his high school varsity golf team.

**\[04:14\] Nathan Parkhouse:** Interestingly enough, only 4 kids on that team from the boys' side. One of the other kids is my daughter's boyfriend. So the two of them have been playing a bit of golf together, having a good time, getting along like brothers, which is very nice to see. So it's a lot of fun. I was very, very happy to drive them up here.

**\[04:31\] Craig Andrews:** Oh, that's awesome.

**\[04:32\] Craig Andrews:** Yeah, you know, one of the things that always surprises me about Canada, you know, very, very big country.

**\[04:38\] Craig Andrews:** But almost all the populations on the border.

**\[04:41\] Craig Andrews:** Or a significant part of the population's on the border.

**\[04:45\] Nathan Parkhouse:** Yeah, I mean, we're, where we live from our house, we're an hour… an hour to get to the border at Buffalo, a couple hours the other way. I mean, there's 6.5 million people, probably more, that all live within a

**\[04:58\] Nathan Parkhouse:** I'd say not even maybe 50 mile radius of each other. It's crazy. Traffic up here, I mean, we always hear these stories about LA traffic.

**\[05:06\] Craig Andrews:** Yeah.

**\[05:07\] Nathan Parkhouse:** I can guarantee it's way worse here.

**\[05:09\] Craig Andrews:** Yeah, she comes in.

**\[05:11\] Nathan Parkhouse:** Visit soon. You should come visit too.

**\[05:13\] Craig Andrews:** I… it's… it's been a while. I used to go to.

**\[05:17\] Craig Andrews:** Research in motion, I'm trying to remember the town that they're in, but just watch that video.

**\[05:24\] Nathan Parkhouse:** Waterloo.

**\[05:24\] Craig Andrews:** Waterloo, yes. And.

**\[05:28\] Craig Andrews:** Yeah, I used to go there, and it always seemed like we were landing at night, and the days are shorter up there in the winter anyway. And so, most of my view of Ontario is it's dark, and I'm on a long highway.

**\[05:44\] Nathan Parkhouse:** Yeah, so you saw nothing except for other cars on the long highway. Yeah.

**\[05:48\] Craig Andrews:** Yeah.

**\[05:48\] Nathan Parkhouse:** Yeah, welcome to Toronto. And if it was during the day, you'd be moving at a fifth of the pace.

**\[05:54\] Craig Andrews:** Oh, boy.

**\[05:55\] Nathan Parkhouse:** Bumper to bumper here is exhausting.

**\[05:58\] Nathan Parkhouse:** Right? I hate to say this. Nobody's happy that COVID happened.

**\[06:02\] Nathan Parkhouse:** You want to always see the positives in things, a big-time positive.

**\[06:07\] Nathan Parkhouse:** Especially in my industry, which is the dinosaurs industry of technology being so far behind.

**\[06:14\] Nathan Parkhouse:** Due to a combination of things, but regulation, etc. But the necessity of video calls, it's become part of our life. And it wasn't before, it wasn't really accepted, and it just makes way more sense now.

**\[06:28\] Nathan Parkhouse:** But… but it's… it's… that was… that was one good thing that's come out of it. The… the strange thing is.

**\[06:35\] Nathan Parkhouse:** You know, it's it's it's very similar to people saying, well, how do you think AI is going to help my business, affect my business? A lot of us think it'll replace employees, et cetera. We have to be very careful. I'm in the wealth management business, but if anybody's in any type of sales business, like yourself, right, we're in the people business.

**\[06:55\] Nathan Parkhouse:** And so, we have to make sure that technology doesn't go… we don't go so far over to the side with tech that we don't actually get in front of people anytime, so…

**\[07:04\] Nathan Parkhouse:** That said, open invite. I can't wait for you to come up and visit me in Toronto. Hopefully you're not going to do it in the miserable winter months, and hopefully we can set up a day where you land maybe at about 10 a.m.

**\[07:17\] Craig Andrews:** Oh, that'd be great. Yeah, that would be great. You know, and I just I really agree. I agree with there was an episode that I recently released that was talking about the role of AI.

**\[07:27\] Craig Andrews:** And, you know, I likened it… I was standing in a courtyard that has these, kind of native, natural live oak trees.

**\[07:36\] Craig Andrews:** And in Central Texas, when you find a tree that just, you know, squirrel planted a nut, and it just kind of grew up on its own, it's windy and twisted and a little bit gnarled, and it's absolutely beautiful.

**\[07:50\] Craig Andrews:** If you…

**\[07:51\] Craig Andrews:** plant a live oak next to it in the same soil, but you plant it, the thing's gonna grow straight as a light post.

**\[07:59\] Craig Andrews:** And it never has that natural beauty, and I believe the, The analogy I drew was.

**\[08:07\] Craig Andrews:** that if we let AI take over the human parts of our business, we're gonna have something similar. You know, you'll see, you know, like the live oak, it'll be green, you know, be tall, and it'll have green leaves and have all those traits, but something's gonna be missing.

**\[08:23\] Craig Andrews:** And it's that kind of unique, gnarled nature of the trees that volunteered versus the ones that were planted, and I think

**\[08:32\] Craig Andrews:** that… There's something unique humans provide.

**\[08:36\] Craig Andrews:** There's a little bit of unpredictability, but there's a very high human nature where

**\[08:41\] Craig Andrews:** There's a beauty in that relationship that AI cannot reproduce.

**\[08:47\] Nathan Parkhouse:** I I agree wholeheartedly. I just got the vision of when Neil wakes up in the matrix.

**\[08:53\] Nathan Parkhouse:** And he's taking out, biologically, when he actually physically wakes up, and then they just show the rows of sameness.

**\[09:01\] Nathan Parkhouse:** Yeah. Right? And that's the danger, is if we let the tech… AI's just…

**\[09:10\] Nathan Parkhouse:** The most advanced tech we've ever had.

**\[09:12\] Nathan Parkhouse:** This isn't the first time we've had a technical revolution.

**\[09:15\] Nathan Parkhouse:** Right? You remember the first time you were using a computer at work, you know, and got email, you know, and it was slow at the beginning, and then it's now… it's made it quicker. How many more meetings can we have nowadays that we're all doing virtual calls?

**\[09:31\] Nathan Parkhouse:** The flip side of it is, to the point of your tree analogy, and me taking that to the Matrix, is…

**\[09:37\] Nathan Parkhouse:** What makes… Why people are in business?

**\[09:42\] Nathan Parkhouse:** to why people utilize people, wealth advisors, why people utilize expert marketers.

**\[09:48\] Nathan Parkhouse:** It's because they understand them.

**\[09:51\] Nathan Parkhouse:** Your John, the advisor story, the gentleman who was gambling from a statistical standpoint, not necessarily because of addiction.

**\[10:01\] Nathan Parkhouse:** Him never talking about that. So far, there's no AI that would have ever took that out and said, do this. It wouldn't have taken it to the level that you did, where you did all these test runs, right?

**\[10:12\] Nathan Parkhouse:** It's such a great story. That's the power of human-to-human interaction. So, let's always remember that, right? AI tech, great. These are tools to make us better, quicker, more efficient, etc. But the human-to-human.

**\[10:28\] Nathan Parkhouse:** You know, like this conversation we're having here. I've been on several podcasts recently. This is the most interesting start to it. I've seen very unique.

**\[10:36\] Craig Andrews:** laughter

**\[10:37\] Craig Andrews:** Yeah, and so for those that are missing the background, we we years ago we had a client that was a wealth manager and

**\[10:44\] Craig Andrews:** We found out somebody was just telling this funny story about him that in his youth, when he was first graduating college, he was spending all of his weekends in Vegas gambling. And he was a computer science major and trying to make money in Vegas based on, you know, mathematical models.

**\[11:01\] Craig Andrews:** And…

**\[11:02\] Craig Andrews:** we put it on… we put it on his website, which, after much persuasion to his team, that that was going to help their business, and it helped their business a lot. But the reason is, it humanizes them.

**\[11:16\] Craig Andrews:** It humanized them. And that's what we're looking for. And AI

**\[11:21\] Craig Andrews:** AI, it's always going to be a cheap imitation of human interaction. It's stunningly powerful, and everybody should be using it and not fearing it. But it's always when you put it in the wrong job, when you put it in customer service or you put it in sales.

**\[11:39\] Craig Andrews:** I get really, really, worried about it. I don't think it's gonna pan out for companies.

**\[11:46\] Nathan Parkhouse:** I think we're seeing we're seeing a version of this we've seen a version of this play out in a different way on on I'll call it the human experiment. And the ones that last years, let alone decades, are are the ones that really, you know, give it away quite a bit more.

**\[12:02\] Nathan Parkhouse:** And the analogy that as you were just explaining that, I just saw some clarity, which is

**\[12:11\] Nathan Parkhouse:** You know, one of the things you're very good at, this is why you're in the world that you're in. You're always asking whether directly or indirectly, what, you know, what's one of the most interesting things about you?

**\[12:22\] Nathan Parkhouse:** And I'm looking, and one of the things from a technology perspective is, when I was a kid.

**\[12:28\] Nathan Parkhouse:** I was in my later high school years, and and you know, some of us have been places where we shouldn't have been. We won't get into extreme detail, but let's say it was one of those nights, and you end up the next morning and you need to find your way home. Now, the kids of today.

**\[12:46\] Nathan Parkhouse:** Right? Wouldn't think twice.

**\[12:49\] Nathan Parkhouse:** about ordering an Uber that's on Mom and Dad's credit card.

**\[12:53\] Nathan Parkhouse:** Right? Where mom and dad actually see, because we get a receipt of where they went, what time of day it is.

**\[12:59\] Nathan Parkhouse:** Back when when I was a kid in high school 30 years ago, we wouldn't have dared let our parents know what we were up to. And I trudged home with my girlfriend at the time.

**\[13:11\] Nathan Parkhouse:** it was, it was 8 miles.

**\[13:15\] Nathan Parkhouse:** in January. I'm from Canada. It was an actual snowstorm through farmer's fields, as I'm from… I'm from a small outskirt town, so as not to let our parents know or dare.

**\[13:28\] Nathan Parkhouse:** Also, we didn't have $5 or $10 in our pocket to take a cab. We just trudged it. She didn't have a jacket. We had gone to a semi formal. I lent her her mine.

**\[13:37\] Nathan Parkhouse:** You know, these are the stories of things that just toughen you up. The kids nowadays, they just take an Uber, don't even think twice about it. And so, the kind of analogy I'm thinking of is.

**\[13:47\] Nathan Parkhouse:** Right? All of us are complaining as parents. What did we do? Why are we letting our kids on their screens and all this?

**\[13:53\] Nathan Parkhouse:** This is… this could be a version of AI, right? And if we don't pay attention to it, so the ones who are really going to do well, and you see all these tech giants, they don't let their kids on their phones or on TikTok and whatever, because it's rotting their brains. And the AI, if we just let it do our job.

**\[14:10\] Nathan Parkhouse:** Right? Look at the backlash that's happening on LinkedIn. LinkedIn's changed the algos.

**\[14:14\] Nathan Parkhouse:** to completely shut out, you know, AI, because this isn't what humans crave.

**\[14:19\] Nathan Parkhouse:** Humans crave humans, human thought, human interactions, etc.

**\[14:25\] Craig Andrews:** Absolutely, absolutely. And You know, it's, Back when COVID was starting.

**\[14:33\] Craig Andrews:** And everybody was working from home. My prediction at the time, everybody was like, oh, we're never going back to the office, and blah blah blah blah. And that's happened to a certain degree, but…

**\[14:44\] Craig Andrews:** My prediction was, I see a booming industry in cultural consultants. You know, consultants that, you know, have these companies that all of a sudden removed everybody, sent everybody home, and all of a sudden they find their culture crumbling, and they're trying to figure out.

**\[15:00\] Craig Andrews:** Why they lost their essential culture.

**\[15:03\] Craig Andrews:** And, and so…

**\[15:07\] Craig Andrews:** You know, sure enough, we're seeing it, you know, a lot of companies are moving people, you know, back to the office and

**\[15:13\] Craig Andrews:** And, And I… I… I think, you know, I just think there's something.

**\[15:22\] Craig Andrews:** You know, that's not re… yeah, that's irreplaceable.

**\[15:26\] Craig Andrews:** that the humans provide.

**\[15:28\] Craig Andrews:** And…

**\[15:29\] Craig Andrews:** The challenge is figuring out what's the role of AI, and where should it be, and I'll just definitively say, I don't care what your business is, AI should be in your business. You should be using it as a tool, because it's a very powerful tool.

**\[15:44\] Craig Andrews:** But there's certain jobs you don't want to let it do.

**\[15:49\] Craig Andrews:** The other thing I would say is I was…

**\[15:53\] Craig Andrews:** I was recently curious, I was like, I wonder what… I wonder what people were saying about the Gutenberg Press when it came out.

**\[16:01\] Craig Andrews:** And what were the fears of the Gutenberg Press? And a lot of the fears that they have when they release the Gutenberg Press are amazingly similar to the fears you hear expressed about AI.

**\[16:15\] Nathan Parkhouse:** I would agree with that. That's an excellent analogy.

**\[16:19\] Craig Andrews:** Yeah. So.

**\[16:20\] Nathan Parkhouse:** That's really putting two and two together. I wouldn't even have thought about that.

**\[16:24\] Nathan Parkhouse:** The Gutenberg Press, what are we at, 700 years ago? I find the most interesting story about the Gutenberg… well, first of all, it put a very small group of specialized people out of work very quickly, that it describes.

**\[16:39\] Nathan Parkhouse:** I find the most interesting kind of anecdote about it is Gutenberg, didn't he die bankrupt and didn't make any money from it? He got completely ripped off?

**\[16:48\] Craig Andrews:** Oh, I didn't know that, but I wouldn't be surprised that happens a lot.

**\[16:52\] Nathan Parkhouse:** Pretty… I'm pretty sure. He ended up…

**\[16:55\] Craig Andrews:** I mean, the name namesake of the Tesla automobile died broke.

**\[16:59\] Nathan Parkhouse:** Same. Yeah. So is there a lesson there that we can think of? Well, I'll go back to the one of the things where, you know, I don't we don't probably want to spend too much time talking about Covid or concentrate too much on AI, but I think there is one.

**\[17:13\] Nathan Parkhouse:** Correlation to it. And what I mentioned before, but over… observing human behavior over years, decades especially, right?

**\[17:22\] Nathan Parkhouse:** The COVID lockdowns in the biggest place on Earth was the province of Ontario, right? We were locked down, we couldn't even go golfing.

**\[17:30\] Craig Andrews:** Yeah.

**\[17:30\] Nathan Parkhouse:** When, you know, as a province, 'cause in case you might touch the flag, I mean, we overreacted, you know, as a species, this is life. The point of the lesson is, and I call it kind of, I look at it as.

**\[17:41\] Nathan Parkhouse:** Kind of one of the most interesting experiments ever run on all of humankind.

**\[17:47\] Nathan Parkhouse:** Right? The lockdowns.

**\[17:49\] Nathan Parkhouse:** And we absolutely confirmed, number one.

**\[17:53\] Nathan Parkhouse:** It confirms something we all knew, especially for all of those, all of us who are married.

**\[17:59\] Nathan Parkhouse:** Or have our in-laws come over for a week, right? Too much of the same people is too much. You know, when you're sitting in your house, it's too much. But the flip side, I'm making a joke about reality, the flip side is not enough human interaction, not enough learning from each other, not enough of the energy that a piece of tech can't give.

**\[18:18\] Nathan Parkhouse:** is a very, very bad thing. And so it just… it harkens back to

**\[18:24\] Nathan Parkhouse:** Tech, AI now, the top one, these are tools to help us get better.

**\[18:32\] Nathan Parkhouse:** at helping our clients, helping our people, helping our family, etc, right? We're in the people business. Raising children, being married, it's in the people business. The tech is not going to replace us. The Gutenberg Press

**\[18:47\] Nathan Parkhouse:** People… it made… more people were able to read. Like, it opened up the world. It was a good thing. This is where I believe AI is going. That's my belief on AI.

**\[18:58\] Craig Andrews:** Yeah. Well, and there was also a fear of loss of control. They felt like…

**\[19:03\] Craig Andrews:** Yeah, so it's all the same things. But let's I'll tell you what,

**\[19:07\] Craig Andrews:** Let's pivot because here's the thing when I was getting ready for this interview.

**\[19:12\] Craig Andrews:** you know, what you do, you do very specialized for wealth managers, but I think the essence of what you're doing

**\[19:19\] Craig Andrews:** I think applies to so many other businesses. So, let's start off by… give us a little bit of history.

**\[19:27\] Craig Andrews:** You built your own firm and then you sold your own firm. And give us kind of an overview of what you know what that was like and what you did.

**\[19:36\] Nathan Parkhouse:** Before I answer that, I just need to pause one second, if you don't mind. I need to plug in my my PC. I didn't my laptop. Pardon me one second. I probably never had that in an interview before.

**\[19:47\] Craig Andrews:** No.

**\[19:48\] Craig Andrews:** And for what it's worth, we're gonna…

**\[19:52\] Craig Andrews:** We're gonna leave this in the.

**\[19:54\] Nathan Parkhouse:** We're good.

**\[19:55\] Craig Andrews:** I'm gonna leave this in. I, you know, I tell folks,

**\[19:59\] Craig Andrews:** Joe Rogan obviously has, you know, one of the top podcasts in the world, and one of the things he leaves in is, like, he'll say, hey, I gotta pee. You know, thankfully, he edits out the peeing, but…

**\[20:11\] Nathan Parkhouse:** That's true.

**\[20:12\] Craig Andrews:** just the format. You know, this is a real conversation. And so I just, I try to study from the masters and.

**\[20:20\] Craig Andrews:** So, that's all staying in. So anyway.

**\[20:25\] Craig Andrews:** You all plugged in, good to go?

**\[20:26\] Nathan Parkhouse:** Yeah, all set. Thanks, Craig. The answer to your question… I agree completely. The… the… the…

**\[20:36\] Nathan Parkhouse:** Experiences I've been through, the lessons that, that I've learned, the knowledge.

**\[20:43\] Nathan Parkhouse:** I hope to call it wisdom. I learned it in one particular business, right? Retail wealth advisory.

**\[20:51\] Nathan Parkhouse:** I do get asked quite a bit, though.

**\[20:54\] Nathan Parkhouse:** Why are you just specializing with advisors?

**\[20:58\] Nathan Parkhouse:** you know, you could apply this to this business, that business, and the other business. And I agree. I'm a big believer in niching, which is…

**\[21:09\] Nathan Parkhouse:** being very specific, targeting to the audience. It's a space I've been in. But the bigger, you know, to the broader theme of your… of what we're talking about here for Leaders and Legacies.

**\[21:20\] Nathan Parkhouse:** At the end of the day.

**\[21:21\] Nathan Parkhouse:** the biggest issue that a lot of, and I work with founder, owner-led, primarily founder-led, independent, is a lot of the times, number one, you're starting most… many, many, many businesses, right? We know 80% of businesses for sale don't sell.

**\[21:40\] Nathan Parkhouse:** There's a probably obvious correlation to that, which is a lot of them are founder-led, and the owner is the founder, and it's their baby. They've been doing it for 30 years, 40 years. They've been doing it the way they've been doing it. There aren't necessarily standing operating procedures.

**\[21:59\] Nathan Parkhouse:** Or maybe they aren't written down, they're not easily, you know, disseminated. All the clients only deal with that one person. It's these classic realities to, you know, running a business from the ground up. Owners wearing a million hats.

**\[22:17\] Nathan Parkhouse:** And I just… I just liken it to, in the wealth advisory space in particular, but this could apply anywhere, you know, you might be wearing 10, 12 hats at the beginning, until you bring on your first employee or your next employee. And a lot of the people will say, well, I really want to… I want to clone.

**\[22:35\] Nathan Parkhouse:** I really want to clone somebody.

**\[22:37\] Nathan Parkhouse:** So you get a lot of owner led, founder led, who say, I want a clone. And if you're hiring somebody to help your business.

**\[22:45\] Nathan Parkhouse:** Go from a practice to a scaled business, expanding, etc. If you have two of the exact same people, you're like the Seinfeld episode when he meets, the actress Janine Garofalo, who's the female version of him.

**\[23:00\] Nathan Parkhouse:** He's so excited about it, he loves it, right? She likes cereal for dinner and all that. Four days in, he gets engaged to her. By seven days in, he hates himself.

**\[23:10\] Nathan Parkhouse:** Because he's looking in the mirror for seven days straight and saying, I can't stand myself. So you don't want a clone. It doesn't actually help your business. You actually want somebody for your second chair, your key number two, to be somebody who works in a space.

**\[23:25\] Nathan Parkhouse:** That improves everything you're doing in your business, because ideally, if you could take one less hat or two less hats off, you know, as the leader, and that's in the space that you are either… you don't love doing.

**\[23:39\] Nathan Parkhouse:** and or you're not actually good at doing, then you don't want to hire a clone to fill that void. You want to hire somebody who loves doing that and is good at it.

**\[23:50\] Craig Andrews:** Yeah, yeah, no, I and You know, when I hired, my first assistant.

**\[23:59\] Craig Andrews:** I… I just took a real simple strategy. I hired the opposite of me. I found everything that I was not.

**\[24:06\] Craig Andrews:** And… I was like, I want that. And it's great, because she…

**\[24:12\] Craig Andrews:** all the little detail stuff that I hate, she's great at, and, you know, comes in and gets it all done, and…

**\[24:22\] Craig Andrews:** And it works… works magically. But…

**\[24:26\] Nathan Parkhouse:** Are you are you gonna throw up a a disclaimer across the pod when you when you send this off?

**\[24:31\] Nathan Parkhouse:** We did not discuss this in advance.

**\[24:35\] Craig Andrews:** No, we didn't. Yeah, it's.

**\[24:38\] Craig Andrews:** But that's… but I think you raise a, you raise a really good point, because

**\[24:44\] Craig Andrews:** If you're looking for you know a senior role, you you it it's easy to deceive yourself that, hey, I need another one of me. Like, no, you need someone else.

**\[24:57\] Craig Andrews:** You need somebody that has diverse skills, that's

**\[25:01\] Craig Andrews:** That's where the strength of the organization comes in, as you start

**\[25:04\] Craig Andrews:** you start bringing the strengths of the collective, rather than, you know, a few very, very narrow strengths. I used to… the company that brought me to Austin.

**\[25:14\] Craig Andrews:** I felt like I had this problem. Now, they've been a very successful company, you know, very good, but they… they had a very, very narrow type of person that they hired.

**\[25:27\] Craig Andrews:** And it was great. I mean.

**\[25:30\] Craig Andrews:** what they did was great things, but I'm like.

**\[25:34\] Craig Andrews:** You know…

**\[25:35\] Craig Andrews:** There are people out there, you know, you have things that need to be done in the organization.

**\[25:41\] Craig Andrews:** And there are people out there that are exceptionally good at those that don't fit your hiring profile.

**\[25:46\] Craig Andrews:** And… And that was kind of a weakness. Obviously, they navigated through it, but…

**\[25:54\] Craig Andrews:** But I also felt like they could have done a lot more.

**\[25:57\] Nathan Parkhouse:** Well, depending on the size of the organization. But I think this would still apply because if we look at a large organization and look at different divisions, different areas as pods, I believe the same principles apply, which is from my 25 years of experience.

**\[26:14\] Nathan Parkhouse:** I, I believe… One is, as a leader, we are much better off After we've defined

**\[26:24\] Nathan Parkhouse:** the types of… what we're looking to achieve, right? We're looking to achieve somebody whom is complimentary for me in this space as the leader, right?

**\[26:34\] Nathan Parkhouse:** it's… I think it's less about the check, check, check, check. They have this, they have this, they have that. Then, when you actually get in front.

**\[26:44\] Nathan Parkhouse:** the way you and I are sitting together right now, and we have a discussion, and really feel out, and you're… this is the human component. And those fits become much better. An example.

**\[26:58\] Nathan Parkhouse:** There was an example that I had in my head there for a second about checking the boxes, but you turned me around in such a good way, I've kind of forgotten it, and if it comes back up, that's just fine. Yeah. Hold on, let me ask my AI. Actually, no.

**\[27:11\] Nathan Parkhouse:** even with let's circle this back to AI. This wasn't it. But I was thinking about this before. It's quite interesting. I'm doing it for a bit of a test as well, plus

**\[27:20\] Nathan Parkhouse:** You know, it needs time. Plus, I'm a little… untrusting.

**\[27:26\] Nathan Parkhouse:** I have the max plan for Claude. That's the one I happen to use.

**\[27:31\] Nathan Parkhouse:** Great. But I also have a pro plan or whatever it's called for ChatGPT. And as they have constantly been getting to know me over the last year, I'm constantly checking them against each other.

**\[27:44\] Nathan Parkhouse:** Right? I'm testing, I'm just saying. And I'm very honest to them in the way I would talk to a person. I just say, Claude, here's what ChatGPT said, right? There's no feelings or whatever, and I'll let them go back and forth. I end up…

**\[27:57\] Nathan Parkhouse:** I'm using my AI collaboratively like I would when leading and dealing with people in a collaborative sense, whether they're team member, staff member, or whether they're clients and having open conversations. It is so much more beneficial.

**\[28:13\] Nathan Parkhouse:** So, to me, it's… if you're just hiring yourself a clone, you're not going to magnify and bring out the best in you. You're not going to bring out the other person. And circling back, if you're just…

**\[28:25\] Nathan Parkhouse:** filling a role from, we need these checks, checks, checks, then, you know, what ends up happening is you end up in a position where a great hire and a bad structure becomes an expensive task doer, or a very quick resignation letter, because you board them.

**\[28:43\] Craig Andrews:** Yeah.

**\[28:45\] Craig Andrews:** Yeah, and that was my concern with that company, was… they were…

**\[28:51\] Craig Andrews:** Yeah, it was… it was a tech company, and they hired Only the best engineers.

**\[28:59\] Craig Andrews:** And I'm like.

**\[29:00\] Craig Andrews:** you know, with any area of engineering, you have different things. You have, like, verification, which is very, very redundant and very boring. I'm like, wouldn't it be good to hire people

**\[29:12\] Craig Andrews:** that better excel at that. You know, it's like buying a.

**\[29:19\] Craig Andrews:** I don't know, this isn't the best analogy, but it's, you know, it's like buying a racing stallion to pull your, you know, your, your cart. And both are important jobs, but they have different things that make them happy.

**\[29:37\] Craig Andrews:** And you're, you know, if you attach a stallion to a cart, he's probably going to try to race the cart, and it's going to, everything's going to spill.

**\[29:45\] Craig Andrews:** Yeah, out of the cart.

**\[29:48\] Craig Andrews:** Anyway. Well, let me ask this, so…

**\[29:51\] Nathan Parkhouse:** Can I, can I, can I, can I ask you to hold that? Because I had 100% confidence that you'd remind me of the analogy or the story that I was going to mention, and that just was so good. The show Suits.

**\[30:04\] Nathan Parkhouse:** The legal show Suits?

**\[30:06\] Nathan Parkhouse:** What made it so interesting, right from the get-go, was how unrealistic one of the things about it was.

**\[30:12\] Nathan Parkhouse:** We only hire Harvard graduates.

**\[30:16\] Nathan Parkhouse:** Harvard Law graduates. Yeah. For a show, as a premise of something that's outlandish, it's a great story.

**\[30:24\] Nathan Parkhouse:** In reality, could you imagine what that would look like?

**\[30:27\] Nathan Parkhouse:** How lopsided, one-sided, one narrow viewpoint that entire firm would have. That firm would flop so hard if it only hired from lawyers that were trained in one particular way.

**\[30:39\] Nathan Parkhouse:** Right? It just wouldn't work. So, we have to be… make sure that when we're… when we're building out… building out our… our… our… our firm, that we are fitting in those different, like you just said, different examples, different horses that eat differently.

**\[30:54\] Nathan Parkhouse:** have different schedules, need different workouts, etc, right? Are better at this, better at that. We tend to get away from that. We tend to just want to be around people. There's a very easy thing, though, because we can have our egos get in the way. It's very easy.

**\[31:09\] Nathan Parkhouse:** The… Very successful businesses do not just have yes people around them all the time.

**\[31:16\] Nathan Parkhouse:** And that's what a clone looks like, or a mini-U in training type of thing.

**\[31:22\] Craig Andrews:** So, let's talk a little bit of nuts and bolts.

**\[31:26\] Craig Andrews:** The, what is it you run into when you're working with somebody.

**\[31:31\] Craig Andrews:** What are the things that you see them having trouble letting go of?

**\[31:40\] Nathan Parkhouse:** One of the things I find interesting is.

**\[31:42\] Nathan Parkhouse:** A packed calendar. You know, I have a really busy calendar. Very proud of the calendar being very busy. You know, people get into sales, people get into advisory business, people get into sales people. There are a lot of businesses we get into because we like people, we like helping people.

**\[31:59\] Nathan Parkhouse:** And so, we end up with these packed calendars, that actually become overstuffed, because We're always available.

**\[32:09\] Nathan Parkhouse:** We pride ourselves on having an open-door policy for our team.

**\[32:14\] Nathan Parkhouse:** We pride ourselves on being, you know, being able to answer a question from a client that comes in regardless of the level of urgency it may need, right? There is red level emergency.

**\[32:28\] Nathan Parkhouse:** And there is… I just need to hear back from you when you have a moment, and a million things in between. And having that open-door policy where your staff can get to you at any time.

**\[32:39\] Nathan Parkhouse:** Having that ability where it's always you, and you may not be the one answering the phone every time, but if you're the one who also your staff knows to, they got to go to you first.

**\[32:49\] Nathan Parkhouse:** Before they can really answer that question.

**\[32:51\] Nathan Parkhouse:** And you haven't delegated anything. So, I find, you know, a real scaled business, the mark of that is a less and less busy calendar.

**\[33:02\] Nathan Parkhouse:** A less and more, and where a lot more of those meetings end up being with your key staff.

**\[33:07\] Nathan Parkhouse:** Because they're the ones out there on the front lines with your client base, regardless of the type of business it is. But certainly in the wealth advisory business.

**\[33:18\] Craig Andrews:** Well, and the other thing… that I think I heard you mention is.

**\[33:24\] Craig Andrews:** Because they're so good at human touch.

**\[33:27\] Craig Andrews:** They put themselves in a lot of touchpoints that probably should be handled by someone else.

**\[33:33\] Craig Andrews:** Now, I just put that in code, but you know what I'm talking about. What does that look like?

**\[33:38\] Nathan Parkhouse:** Well.

**\[33:39\] Nathan Parkhouse:** This is one of those stories that I talked with you about before, but, you know, if you're going to an extremely high-end restaurant, right? The place that's the talk of the town. I have a client right now, I can't wait for him to tell me. He just booked a restaurant that only books 90 days out, and if you book it

**\[33:57\] Nathan Parkhouse:** 89 days out, you can't… it's booked.

**\[34:00\] Craig Andrews:** Yeah.

**\[34:01\] Nathan Parkhouse:** Right? And so, you know, oh, there's a little tiny window. That's how…

**\[34:05\] Nathan Parkhouse:** big this restaurant is, right? I'm sure the prices will be, but it's perceived value, high value. Now, he's going there in November, but if he goes… if he goes to that restaurant in November.

**\[34:17\] Nathan Parkhouse:** And the chef greets him at the valet, takes his coat, shows him to the, you know, to the table, gets him the water, takes his order. You see where I'm going with this.

**\[34:28\] Nathan Parkhouse:** Nobody wants to go to that because either you're the only clients there and there's a major problem, or something's wrong. There's just something off, right? So you're going for the experience, for the operation, perceived value.

**\[34:44\] Nathan Parkhouse:** And in fact, what we're doing is we're hiring that chef. Interesting enough, we're hiring for his or her brain. They're the ones who made the creative dishes.

**\[34:54\] Nathan Parkhouse:** Right? It'd be amazing if they came out and served you. Great, that's fantastic. Talk to you about what they put into it. Beautiful. They're generally at a very high-end restaurant, not even actually making the meal anymore. We know they didn't prep all the vegetables and all that, but they're generally not actually making any one of those dishes. In fact, they're running that line.

**\[35:14\] Nathan Parkhouse:** We can all see that. We are the the yes chef, yes chef, it exists because everybody knows their place, everybody knows where there are sous chefs, etc. This is how an advisory practice should run.

**\[35:26\] Nathan Parkhouse:** An advisory practice, you want, as a client of an advisory practice.

**\[35:31\] Nathan Parkhouse:** And I heard this for years from clients.

**\[35:34\] Nathan Parkhouse:** I don't want my advisor to constantly be available every time I call in. In fact, I actually want a staff member who… guide me to that right staff member. Basically, they're screaming out, give me the trust handoff. I want to.

**\[35:46\] Nathan Parkhouse:** Because I trust him to be him or her to be a leader, but I know when they're out meeting with other people like me, wealthier than me, older than me, been in those other situations than me, right, then that's the experience that they're coming to the table with.

**\[36:01\] Nathan Parkhouse:** And to me, that's key. So it's very difficult because we like helping people.

**\[36:06\] Nathan Parkhouse:** There's a good feedback when you hear from somebody directly, man, I, like, really appreciate your feedback and all that, but it doesn't mean, as you pointed out, that you have to, let alone should be, involved at every step of the way. It's just not scalable. It doesn't make any sense.

**\[36:22\] Craig Andrews:** Yeah.

**\[36:23\] Craig Andrews:** You know, and one of the things that you said a couple minutes ago.

**\[36:27\] Craig Andrews:** Is that most of your meetings shouldn't be with customers, it should be meeting with your staff.

**\[36:33\] Craig Andrews:** And, you know, I was, I know of an organization, I'm not going to give too many details, but

**\[36:41\] Craig Andrews:** It's 1 of these organizations, I hope you know, always hope the best for

**\[36:46\] Craig Andrews:** And the thing that they failed to do.

**\[36:50\] Craig Andrews:** Is invest in the people that are gonna expand their ability to impact the world.

**\[36:56\] Craig Andrews:** And I think that's the thing for any leader. You know, a true leader

**\[37:02\] Craig Andrews:** It's not the person doing the work, it's the person that's building the team.

**\[37:06\] Craig Andrews:** and enabling that team to do the work. And I think it's always a challenge, because

**\[37:13\] Craig Andrews:** At some point, they were doing the job, you know, they were hands-on, you know, sleeves rolled up doing the work.

**\[37:20\] Craig Andrews:** And I think there's a fear that, well.

**\[37:23\] Craig Andrews:** I don't want to cush job, I don't want to be viewed as detached and not knowing the industry, but it's…

**\[37:30\] Craig Andrews:** I really believe it's their job is change. Their job is they're going to accomplish more by equipping a team of people than they could ever do by themselves alone.

**\[37:41\] Nathan Parkhouse:** A %. And there's a process to that. And I'm gonna throw out one caveat about what you said at the outset there.

**\[37:48\] Nathan Parkhouse:** It isn't… we cannot go… We cannot go from being the only person meeting.

**\[37:56\] Nathan Parkhouse:** With our clients.

**\[37:58\] Nathan Parkhouse:** to… you don't meet with your clients anymore, and all of a sudden you have this team in place. There's a natural, you know, transition in there, and I just want to make sure we don't skip that step, because it's so important. That there is probably the hardest part.

**\[38:12\] Nathan Parkhouse:** Because of the reasons as you closed with, which are it's very hard to let go. So how do you do that? What does that actually look like?

**\[38:21\] Nathan Parkhouse:** Well… What it means is the way that happens, what happens over time.

**\[38:27\] Nathan Parkhouse:** we're human to human, we're in the people business. It happens through a progression, but that progression can be done very intentionally. It's super simple. If you're just going to your first hire, as realistic as possible.

**\[38:40\] Nathan Parkhouse:** Bring that hire to as many meetings as possible. And even if that's a virtual call-in for 5 minutes.

**\[38:48\] Nathan Parkhouse:** At least then your client is seeing and starting to meet your staff. It seems very simple when you've hired your junior because your assistant can't go to every meeting, obviously, but you've now hired your junior or your associate advisor or your next salesperson. If we're taking this to any other type of business.

**\[39:03\] Nathan Parkhouse:** Right? Have them shadow you. Take them to as many meetings as possible. Get them involved. Have them actually having a conversa… being part of the conversation with your client. That trust handoff starts happening more naturally. And as you build, and that goes back to kind of building from… in scale, building in pods.

**\[39:20\] Nathan Parkhouse:** You're now empowering that other person to be able to start doing that. Think about it from your client's perspective.

**\[39:26\] Nathan Parkhouse:** If you just went from, I only deal with Nathan, to here's… here's Steve over here you've never dealt with before, your client's reaction is not going to be very positive.

**\[39:36\] Nathan Parkhouse:** Because you've just been handed off, you've killed your trust.

**\[39:40\] Nathan Parkhouse:** If your client actually sees, okay, Steve's answering some of the questions, and next time it's Jane, whatever the case may be, there's a more natural handoff to that. And then you can start scaling that and building that up.

**\[39:52\] Craig Andrews:** Wow.

**\[39:53\] Craig Andrews:** You know, Nathan, one thing we've proven is you and I can chat for hours at a time, but the…

**\[39:59\] Craig Andrews:** And we could go on, I would love to go on, but we probably need to go ahead and wrap up.

**\[40:03\] Craig Andrews:** But, just kind of recapping, you work with wealth managers to help them overcome scaling problems, and, you know, the one thing that I see

**\[40:14\] Craig Andrews:** We work in somewhat adjacent spaces, and we both see the same thing, is growth hits a certain point, and then it kind of plateaus.

**\[40:24\] Craig Andrews:** And they're kind of stuck trying to figure out how to get beyond that.

**\[40:28\] Craig Andrews:** That's one of the problems.

**\[40:30\] Craig Andrews:** That you help people solve.

**\[40:32\] Craig Andrews:** How can people contact you?

**\[40:35\] Nathan Parkhouse:** Two easy, simple ways. LinkedIn.

**\[40:38\] Nathan Parkhouse:** Strictly under my name, Nathan Parkhouse. If you want to get in touch with me directly, send me a direct message. Alternatively, very simple. My name, Nathan Parkhouse dot com.

**\[40:52\] Craig Andrews:** Excellent. Well, Nathan, thanks for coming on Leaders and Legacies.

**\[40:56\] Nathan Parkhouse:** Thank you so much for having me, Craig.

**\[41:01\] Craig Andrews:** this is craig andrews i want to thank you for listening to the leaders and legacies podcast

**\[41:15\] Craig Andrews:** we're looking for leaders to share how they're making the impact beyond themselves if that's

**\[41:21\] Craig Andrews:** you please go to allies4me.com/guest and sign up there if you got something out of this interview

**\[41:30\] Craig Andrews:** we would love you to share this episode on social media just do a quick screenshot with your phone

**\[41:36\] Craig Andrews:** and text it to a friend or post it on the socials if you know someone who would be a great guest

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**\[42:01\] Craig Andrews:** reviews go a long way to help promote the show it means a lot to me it means a lot to my team

**\[42:07\] Craig Andrews:** if you want to know more please go to allies4me.com or follow me on linkedin thanks for listening

**\[42:15\] Craig Andrews:** we'll see you next time

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