The beginning of the year is an ideal time to work “on” the business, but sometimes it’s difficult to get started. I’ve spent over 15 years of my career working with advisors and recently a few of our advisors asked me to send a strategic planning template that we worked on together years ago.

I remember going through this with many advisors during my MGA days and the results were amazing. The results included increased sales (in some cases, the “best year ever”), improved business processes, completed designations, new business relationships and fresh marketing initiatives.The key critical success factors you will want to focus on are the following:

  • Your overarching revenue goal/business objective- you need to be specific and it needs to be measurable.  (example Insurance goal, Asset goal and Activity goal)
  • Key areas that will contribute to this revenue goal are:
    • Marketing
    • Alliances
    • Technology
    • Business Process
    • Professional Development

Now remember, you get what you put into it- therefore if you put the effort in, you’ll start seeing results and if you’re doing this on your own- make sure you find an accountability partner cause that will really push you to do your work and implement what you think are necessary changes.

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