Think back to when you started in the business, your strengths were your energy, your resiliency, you had nothing but time and energy to prospect and acquire new clients. But today is different, your strengths are more defined, your value sharpened, your skills honed. It’s no longer about speed and volume but about quality and strategy. It’s time to assess your current strengths and build a new model that will prove to be the tipping point in your business.
Unleash the tipping point in your business with these 5 important steps:
1. Reflect and Assess: Take some time away from the office to look at your business today. Search out patterns of success and more recent trends in your business development. What occurred 5 years ago in your business may no longer be a valid source of intelligence. Look for ways that you add unique value and redefine who you are, what you do and who you do it for.
2. Design your Ideal Schedule: This next phase of your business should be built around you and your life. When you design your ideal schedule you will begin to hone in on the most effective and efficient ways to grow that works with your life and lifestyle. When you are incorporating more balance and fun into your life you will exude more energy, more enthusiasm and more conviction in your presentation.
3. Clarify your skills: In today’s industry it’s not about being everything to everyone but about recognizing what you are really good at and outsourcing the rest to internal and external partners. Become crystal clear as to your unique expertise and highlight those skills to elevate your value. Become comfortable zeroing in on your strengths and confident promoting your partners as experts who enhance your client value.
4. Redefine Prospecting: With an existing client base and stronger relationships in the community your prospecting efforts must be more creative and strategic. In today’s environment it’s more about building relationships than prospecting. Consider ways to enhance existing relationships and expand those relationships by encouraging new referrals and instructions.
5. Refine the Client Experience: Your clients today may be quite different than when you started in the business, begin to recognize the kind of clients you are attracting today. Understand what is important to them and then shake up your client service model and roll out some new programs that are more appropriate for your new clients which will inspire more referrals.
For most advisors there comes a time when your business gets stuck, no matter what you do or how much time you spend you can’t seem to get your business over a certain level of production. To take advantage of this “Tipping Point” you must consider an extreme makeover in your practice.