The 5 Seasons of the Financial Industry

We’re in the home stretch of the most important season of the year. While we all operate on the same 12-month calendar, I view the financial services industry calendar a bit differently. There are the same 12 months on my calendar just like the normal, but my calendar has 5 seasons instead of the four we are all used to.

My 5 seasons go by the names : Build a Lead, Second Effort, Strategy, Taking Care of Business, and Holiday. While these seasonal names can look a bit strange, by viewing your calendar in these seasons you will be more productive and effective in all that you do. You will also not find yourself in the position of scrambling to meet your year-end goals or wondering what you should be focusing on at any given time during the year.

Let’s explore each season and how they fit together.

Build a Lead Season (January 1st – April 15th) –

How you start sets the tone for the rest of the year. The first few months are often driven by thoughts of taxes and tax-related activities (retirement plan contributions, etc.). This is a great time of year to make significant progress on driving new business and growth activity. Nearly everyone is in a similar “get things done” mindset in an effort to make early progress on their goals. Don’t waste this season – maximize your number of new business meetings, focus on growth drivers (doing more with existing clients, client referrals, top-tier COI referral sources, etc.).

Second Effort Season (April 16th – Memorial Day) –

Close out the first half strong! While Memorial Day is not technically the middle of the calendar year, it is the end of the second industry season. This 6-week stretch is when you close out as many of the open opportunities as you can. The Memorial Day weekend serves as the official beginning of summer for everyone, thoughts turn to kids getting out of school and vacation plans. The opportunities that are not completed before Memorial Day can languish in the lazy days of summer, so make the most of your time while people are still in business mode!

Strategy Season (Memorial Day – Labor Day) –

The lazy days of summer! Not quite, but most opportunities not completed by Memorial Day tend to languish during this season. The pace of business in this period is noticeably slower for almost everyone. Take advantage of this time to focus on things like product development , refreshing the website, process changes, and CRM upgrades. With there being less hustle-and-bustle in this part of the calendar, it is a great time to get these bigger projects completed with a minimum of client/new business impact.

Related: Gaining an Emotional Connection Is the Most Critical Role in Any Sale

Taking Care of Business Season (Labor Day – 2nd week of November) –

This 10-11 weeks season is the fastest-paced of all. Those opportunities not closed prior to Memorial Day, close them now! Do you work with retirement plans? Get in front of plan sponsors now! Help procrastinating clients to get started now, before another entire year passes without them making progress toward their financial goals. Parents (and grandparents) are putting some thought power toward college – whether they have children moving away to school or younger children who have several more years before college. Meet them where their minds are. For those with college-age children, do they have Health Care Power of Attorney for their children? They need it! For parents of younger children, how are they doing in funding their 529 accounts? Are grandma and grandpa contributing too? Close out your business year strong before..

Holiday Season (Thanksgiving week – New Year’s Eve) –

While some business does get done during this 6-week season, you don’t want to be in the position of scrambling to meet your year’s goals. This season is the one to enjoy time with family, friends, and colleagues while showing your appreciation and thanks to all those people who made a positive impact on your business throughout the year. During the week of Thanksgiving, call every person who made a referral during the year and say, “Thank You.” Nothing more, just let them know you appreciate them. Use holiday parties to get to know clients and COIs at a more personal level while setting the stage for individual meetings to start the next year. When done well, the first two weeks on next year’s calendar will by nearly full before the ball drops in Times Square on December 31st!

Here’s your first resolution for 2018. Structure your calendar according the 5 financial services industry seasons. If you approach each one according to its business rhythm you will find your year progressing more smoothly and successfully than years past. And just imagine what the Holiday season would feel like with all of your new business goals met for the year!