Strategy Highlights
Week 2
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Strategy 1: Succeed on Purpose
Great success does not happen accidentally or haphazardly. To achieve the practice and the life of your dreams, you must be successful on purpose. This is how we define success on purpose:
- Clarity of purpose: Understand your deepest motivations for being in this business.
- Vision: Know exactly where you want to go, the business you want to build and who you want to serve—and then articulate that vision with bold, audacious goals.
- Focus: Focus only on the activities that bring you closer to your goals.
- Deliberation: Move thoughtfully as you prioritize actions, articulate your plans and hold yourself accountable to your plans.
- Confidence: Know that, because you are providing your clients a world-class experience that adds significant value to their lives, you can speak out clearly about your offering.
- Collaboration: Enlist others to help you. This includes not only your internal team, but also strategic partners, industry experts and even your top clients.
- Consistency: Do things at the same high level in the same way all the time to ensure a top-quality, replicable client experience and build the economic value of your practice.
Ask yourself these questions to help clarify your purpose as a financial advisor:
- Why are you in this business?
- What do you want to accomplish with your business?
- What is important about your business success to you?
Think about the unique qualities of your business that would make people proud to be a part of it. Consider the legacy you want to leave behind. Tap into your original motivations for becoming a financial advisor—you may have to think all the way back to your childhood for these, but you may find that they are your truest inspirations for doing what you do now.
You must also set clear, quantifiable business goals to help you gauge your progress and keep you accountable to your higher vision. Delineate your goals in each of these three areas for both 12-month and three-year timeframes:
- Assets under management
- Net new organic assets under management
- Number of clients
- Net new ideal clients
- Personal annual net income
- Number of days off per year
As you quantify these goals, think big. Incremental thinking will result in incremental growth. We challenge you to redefine progress completely and to set true breakthrough goals. Put yourself on the line to make a major difference in your business, in the lives of your clients and in the lives of your family and team members.