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Advisors: 6 Fundamental Elements to Focus on for Success


Advisors: 6 Fundamental Elements to Focus on for Success

Success is not something that only a few financial advice businesses can achieve. You can all be successful; you just need to execute some fundamental elements into your business on an ongoing basis. Consistency and dedication are the keys, and I know you have both of those available to you. Below are six simple ways in which you and your team can make your business as successful as you. Hold a team meeting and run through this list, even print it off and place it somewhere everyone can see it on a regular basis – remember the old saying, “What you focus on is what you get.”

1. Vision – to get it, you’ve got to ‘see’ it. Have a clear picture of what you want the business to look like. When was the last time you did that? Draw it or write it down regarding the culture of the business, marketing strategies you want to execute, professional development someone wants to complete, what your clients are saying about you, how you all feel in the business and so on. If you want some ideas here, feel free to contact me.

2. Belief – one of the things all successful businesses have in common is the belief that, as a team, they can achieve success [whatever that looks like to them]. Negative talk won’t help the business achieve. Everyone needs to have a positive mindset. If you have anyone in the business who is negative, fed up or just not motivated, it may be time to consider if they are right for the business. We all have times when we feel a ‘bit off, ‘ but successful businesses build cultures that foster and support each other – all of the time. Has your business written down what the culture of the business is? Does everyone know it? Can they see it?

3. Responsibility – successful businesses delegate, does yours? Does everyone have a clearly written role description? If not, why?! How can someone know what they are responsible for if they don’t have a position description and are not measured by it? Don’t always think that you have you have to delegate internally, perhaps getting outside help will assist the business to be more successful in 2017 – investing for the future? If you need any marketing assistance, for example, feel free to contact me.

4. Feedback – give it to others and receive from others – a good mantra to have! I never think businesses give enough feedback to their team! And, I don’t think enough business ask for the feedback from those that interact with them – clients, suppliers and so forth. Write a list of people you can ask for feedback from – otherwise, how do you know what people think of your business?

Related: Seven Traits Potential Clients Are Looking for in Their Financial Adviser

5. Commitment – the amount of businesses that fail to commit is scary! Make a commitment to yourself and your team that your vision will be achieved this year. Too often we find it easy to keep our commitments to others while neglecting to keep our promises to ourselves and our businesses. This pattern has to change if you are to succeed. As a team, write down what each of you and collectively agrees to commit to – and then check in every month and see who is relly committed! Remember you’ve got to write this stuff down otherwise, it just doesn’t work!

6. Shift in your seat – move your focus onto what will empower you and what you are good at. In a team environment, you will find some people are naturally talented thinker while others are naturally good at executing. For example, if you picked three projects to complete each quarter, work as a team to identify who takes what role in achieving each project. Why? Because in a financial advice business there is ALWAYS something to do and unless you follow the points above and work as a team, you might just find yourself back where you started.

Knowledge is not powerful until, you act on what you know and, you know a great deal.

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