Year-end client reviews are around the corner, and so is your annual business review. As you evaluate your 2012 goals and objectives and start planning next year's, consider going back to basics: how do you position yourself to clients and prospective clients? “Verbalizing clearly who you are, what you do and who you do it for will paint a clear picture for your clients and lead to better qualifying prospective clients”, says Sara Gilbert, founder of Strategist in Montreal.
Next, review activities that were profitable, avenues that didn't work out as planned and initiatives that just didn't happen due to 'lack of time' or other reasons.
Having a yearly goal is good, but dividing the yearly goal into monthly objectives increases the likelihood of actually doing what you had set out to do in your business plan. Most goals are focused around revenue or the number of new clients, but consider adding a brand-building calendar to your business plan. This might be a monthly newsletter, website updates, quarterly seminars or gaining specific information regarding your clients to deepen your relationships. Remember to ask someone to hold you accountable for your goals.
Each month should have a specific written SMART goal that matches your business structure.
S - Specific, what will the client, the team and the business gain from this initiative?
M - Measurable; how will you measure the success of the initiative?
A - Agreed upon; all team members' buy-in and participation is paramount to success.
R- Realistic; can we really make this goal happen? Do we need to bring outside help?
T- Time-based; have a specific deadline of completion everyone must adhere to.
“To add extra value so as to boost your chance of success you can add two more strategies: the goal superchargers—affirmations and visualization”, says Rosemary Smyth, international business coach for financial advisors.
Strategy 1. Affirmations
To rephrase goals as affirmations, change them to present tense, use positive language and state in the first person. For example, if your goal states: “This month I will ask for three referrals and I will not fail,” then your affirmation would be: “I am reaping the benefits of three new referrals this month that would be great future clients, and I am succeeding in reaching this target.”
The negative “fail” becomes the positive “succeed.” It is fairly subtle but the words “I will” become “I am,” so you cut out any hesitation and make it powerful.
Strategy 2. Visualization
As any elite athlete will tell you, they see it being done perfectly over and over again in their mind before they do it. So see yourself making a successful call or doing a flawless seminar. You start to build a warehouse of successful experiences by seeing what you want.
So, are you ready for 2013? The year where change actually happens!!
Rosemary Smyth, MBA, CIM, FCSI, ACC, is an author, columnist and an international business coach for financial advisors. She spent her career working at leading investment firms before pursuing her passion for coaching. She lives in Victoria, BC. Visit her website at www.rosemarysmyth.com. You can email Rosemary at: firstname.lastname@example.org
Sara Gilbert, FMA, FCSI, CSWP, is Founder and Business Consultant of Strategist Business development. She brings over 15 years of wealth management industry experience to help wealth advisors develop and implement business building strategies. Visit her website at: www.Strategist.cc, you can reach her via email at: Sara.Gilbert@Strategist.cc
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