As is the case in any service industry, the best advisory firms focus their efforts primarily on (1) client service and satisfaction, (2) employee development, utilization, and organization, and (3) the efficient, profitable operation of their businesses in a manner that promotes a sustained pattern of growth in that order of priority.
Those same firms establish clear, universally understood goals for their efforts and equally clear, universally understood strategic plans to achieve those goals. Yet, while many advisory firms can declare that they adhere to these rudimentary, common-sense business principles, most eventually fail to execute effectively on their plans and goals, primarily because they do not adequately and regularly measure their progress and hold themselves accountable against those plans and goals.
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