10 Tips for Your Business Heading into 2013
With 2012 coming to an end and 2013 just on the horizon, many advisors are doing what they can to prepare their business for the New Year.
Here are 10 tips for advisors as they move into 2013.
You can’t plan for success in 2013 unless you look back and see what worked in 2012. Take some time to reflect back on what worked, and how you can “better the best” in 2013.
There are literally thousands of advisors out there, all vying for high net worth and “up and comer” clients. Retool you value proposition and focus on what makes you different to ensure that you are setting yourself apart from the competition.
Who do you want to replicate in your book of business? Who do you really want to work with as clients? Take some time to hone in on the type of people you want to work with as clients, and then develop a marketing plan to go after them with a vengeance.
Focus on forging long-standing relationships with one or two Centers of Influence. Find your targets, meet with them regularly, educate them on your process, what you do, how you service clients, etc. The more comfortable they are with you, the easier it will be for them to refer.
Think about starting your own “high profile” networking group. Start with the big three: CPA, Attorney, YOU. Meet regularly. Focus on how you can help each other co-market and grow your respective businesses.
Track your assets, referrals, calls, track everything. You need to be aware of what you are in front of at all times so you can hold yourself accountable as you work toward hitting your goals.
You don’t want to re-invent the wheel. Come up with some standard process for your onboarding experience to ensure that your new clients that you bring on board remain clients for the long term and become raving fans.
Implement a service model to ensure that all clients are being serviced fairly. Remember, not all clients need to serviced the same. Automate your service model in a CRM system. Remember, more client contact leads to happy clients, more assets and more referrals.
Meet regularly. It doesn’t matter if you are part of team or a sole practitioner. Have consistent weekly team meetings and 10 minute daily huddles to ensure that everyone is on the same page.
Once you figure out what marketing activities you are going to do in 2013, map it out on a calendar to ensure that you know what you are going to do and when.