19 Best Practice Systems for Financial Advisors

S.Y.S.T.E.M.S. identify the bottlenecks in your workflow. Creating systems involves examining a process step by step so that you find hiccups and other problems. The process of defining and refining your workflow with systems makes your business run smoothly. Which systems are you missing?  Which do you have? Use the list below to and check which Basic Business Systems you already have.  To grow your business, add the systems you don't have in the next 12-months. Business Naming – A process of listing attributes of or descriptive words for a business, product, or service to brainstorm a one to three-word name by which to identify it and/or market it memorably. SWOT Assessment – Identify your firm’s strengths, weaknesses, opportunities to grow, and threats to your business growth. Niche Clarity – The one general category of people, passions, and products/ services you work with best. Ideal Client Profile – The specific attributes of your niche based on demographics, psychographics, technographics, and geographics. Client Segmentation – Most financial professionals overlook simple, yet crucial distinctions that make marketing to their niche produce better results. Qualify and quantify client "touches" with Client Segmentation Matrix. Go/No Go – A “Client Probability Checklist”. This is a list of questions, with a rating system, that help you determine if the prospect you’re talking to is your ideal client. Value Proposition – A promise of the values your firm will deliver to itself, staff, and clients. Bios – A series of questions and a template

2020-01-23T01:10:53-05:00October 13th, 2019|Productivity & Goals|0 Comments

20 Best Business Spring-Cleaning Tips

18. People Want What You Don't Use Spring cleaning started March 1. I’m using a tip I learned last year, when I moved 3000 miles. First, office supplies and old desks/chairs don’t sell at yard sales; however, one group of people, TEACHERS, need them all and then some. Through the BuyNothingProject.org (BNP), I found a teacher. She took it all and planned to leave what she couldn't use in the teachers’ lounge. From her gigantic smile, you would have thought that I had given her solid gold. A big win-win. Thanks to: Maria Marsala of Elevating Your Business. Read the other 19 tips here.

2019-04-26T23:15:54-04:00April 26th, 2019|Productivity & Goals|0 Comments

A simple way to energize your business

Start by creating (and sticking to) a schedule Do you use a schedule proactively to run your business? Or do you get to the end of the day and wonder where your time went? Not having a daily schedule causes lost time, wastes energy, and could lose you money. When you don’t have a game plan for prioritizing and completing tasks, you’ll find yourself easily distracted. And if you feel that your business is running your life, create and then stick to a schedule. Either before you leave work each night or in the a.m., depending on what works best for you, assess what needs to get done. But know that, because you’re proactively running your business, you may need to make adjustments because emergencies and surprises do show up when you least expect them.   And audit your "to doing" If you're unable to create a scheduler, could it be that you're doing too much?   Here's an article that shows you how you can benefit by creating an Activity Audit first.  It’s a simple process – simply write down the tasks you perform during the day.  You don't need to include the amount of time on your Activity Audit, unless you want to keep track of the time.  You may be surprised at what you learn! Once you uncover where your time is disappearing, be proactive and create better daily habits, like using an Executive Scheduler to help run your business!   Would you like the scheduler

2018-10-03T13:47:18-04:00September 30th, 2018|Productivity & Goals|0 Comments

9 Time-Saving Tips for Independent Advisors & Business Owners

Are you asking your brain to do too much?  It takes a lot of energy and time for our brains to shift gears.  I've seen stats ranging from ten to twenty minutes.  This means each time you’re interrupted by, let’s say, a phone call, it could take up to twenty minutes to re-focus on the task you were doing—IF you even remember what that task was! As I and my clients have learned, you’ll work much more efficiently and be more effective if you keep “like” activities together and take more "me" and "wind-down" time. Here are a few ways to start structuring your time so that you do more and feel more productive each day. Tomorrow Time Set your phone’s alarm clock to ding thirty minutes before the end of the day.  Clear off your desk and wind down.  Then review your action plans and write a list of what you need to do tomorrow to keep on track to reach your goals.  An added benefit is that winding down will help you be more present at home. Today Time Each morning, give yourself an hour of setup for a successful day.  Start the day without answering the phone or looking at email.  Delay those activities for one hour after you’ve arrived in the office.  Instead, prioritize your “Tomorrow Time” list.  Add or subtract anything new you’ve learned.  Look at the rest of the day and schedule it.  Meet with your assistant to communicate what you’re

2018-01-22T11:59:16-05:00December 3rd, 2017|Productivity & Goals|2 Comments

Meeting Schedulers Can Increase Advisors Productivity Request our Guide

Give your clients, website visitors, and others, the option of scheduling appointments themselves. Instead of all the back and forth emails or calls, use a Schedule Calendar App. Improve productivity? Sure. First, clients who schedule meetings on your calendar save you time. But more than that, every time you're interrupted during the day, it takes you 10-20 minutes to get back on track. Many schedulers plug into your existing calendar and allow you options about how long the meeting should be, and when you’re available. For free, you can usually set up one type of appointment. The best services don’t ask visitors to choose their time zone – it picks the time zone based on the computer or phone they’re using. Many of the apps cost under $150 a year and include many more services like event scheduling, multi-meeting scheduling, and a few offer the ability for clients to pay you online. To not confuse new clients, I recommend, that you ask your IT person to help you redirect the link the app gives you to use. This way you'll link to your scheduler page that shows your URL and not theirs. For example, I have an account at Calendy that is www.calendly.com/eyb. But I don’t give that out because it’s on Calendly’s website not mine and might confuse someone who I don’t yet have a relationship with. Instead I give out www.ElevatingYourBusiness.com/b/Calendly and while it takes them to my Calendly site, it’s clear that it’s a

2017-12-17T15:30:58-05:00November 19th, 2017|Productivity & Goals|0 Comments

Kick-start your firm any time of the year!

Business good, but you want GREAT? Financial businesses can do well without planning, many do. However, at some point in their business cycle, they become stuck. To become a high performing organization, to grow your firm more rapidly, a firm needs a solid foundation which includes a planning and monitoring process. Got yours? I sure do have mine! Back in 2000, a major shift in my business occurred when I came across the One Page Business Plan® process. Now, as a certified consultant for the program, I help business owners, executives, and teams to make major shifts in their business or career. Don't let the simplicity of the name fool you. While the process helps you create a business and marketing plan -- your planning process should be much more. It should: Help you diagnose how every area of your business is doing. Clarify your thinking and focus on the elements that are the most critical to your success. Test your ideas without having to put substantial amounts of cash at risk. Help you to boost the profits and performance of your small company or department. Be ready to be used over and over again. No Excuses! Create Your Plan Your way! DIY If you're on a tight budget or prefer to create your plan yourself, do it based on your current operations and business skills. What you'll create is a plan based on the thoughts you have or things you've done or want to do. Purchase

2017-11-04T01:21:08-04:00July 9th, 2017|Productivity & Goals|0 Comments

2017 Stock Market Holidays

Actually, I'm providing you with a listing of Stock Market holidays until the end of  2019! What can you do with this information? 1) Ask your assistant to add these days to your firm's online calendar. 2) Place these holidays and early days off on your firm's physical office calendar, the calendar that includes your vacation days, your team's days off,  other days off or half-days you give your team,  team fun days, etc. 3) Share the calendar with your clients (in print) or in your next newsletter by copying the information from my Excel spreadsheet or email them my spreadsheet, as is. 4) Put these dates and any other days off on your firm's Appointment Scheduler (the one where your clients or prospects can make their own appointments). If you'd like a copy of this calendar in MS Excel, join our newsletter. We'll send you a copy and other tips like this, too.                             How will you use this calendar?  Let us know by leaving us a comment below.

2017-11-04T01:21:22-04:00January 8th, 2017|Productivity & Goals|0 Comments

10 Tips to Turbocharge Your To-Do List

You have a to-do list, right? Despite your list (and your best intentions), do you often haphazardly start your working day? When it’s a miserable Monday, terrible Tuesday, or overwhelming Wednesday, your to-do list probably gets shoved aside as soon as you slide into your office chair. Obviously, a to-do list alone does not make you more organized. Organization, efficiency, and time management are big concerns for all my business coaching clients. I try to model what I teach. As a result, people often ask me how I have the time to do everything I do. When I worked on Wall Street, I created my to-do list for the next day before I left work. The next morning, with my cup of coffee, I viewed that list, added items, removed items, and numbered the tasks according to their priority. That system worked for me on Wall Street and it still works today. I see a BIG difference (one that I don’t like) when I wing it instead of writing my list!  But it doesn’t matter WHEN you write your to-do list.  Many of my clients prefer to write their list during their first hour of their day. No calls. They just focus on what’s important and urgent to do that day. Practice Management Beyond the To-Do List Everyone works differently. When I work with my financial advisor clients, we create rituals that help them work smarter each day. These rituals go beyond their to-do lists. Here are

2017-11-04T01:21:29-04:00November 21st, 2016|Productivity & Goals|0 Comments

How advisors can earn more in 2016

There really are no magic bullets to growing a firm, but below are a few possible goals and strategies to get you started on the road to be more successful in 2016 than you were in 2015*. A few goals to get you thinking about growing: Increase the number of clients from ___ to _____ by ____(date). Add ___ new paid services by ____ (date). Increase the value of the average transaction per client from ____ to ____by ____(date). Increase the number of transactions per client from ___ to ____by ____(date). Decrease expenses from ___ to ____per client by ____(date). Decrease the number of ways we market from ___ ways to ____ ways by ____(date). Hire ___ new employees/contractors/outsourcers by ___ (date). Here are some strategies to consider Determne a better long-term business model (one that meets my personal goals) by _____(date). Become known for _________________________________. Hire ____ , ____ and ____. Create _________, _______ and _______ for current our ideal clients and their friends. Create a niche, ideal client system, and strategic/comprehensive plan to attract better prospects. Conduct ____  trainings to update staff on industry trends, keep on top of new technology, and cross-train on various administrative duties. Ok, we've given you a few ideas to get you started! *If your practice currently doesn't have a clearly defined niche, ideal client profile, clear visions (for 12 months, 5 years, and your exit)  and a stategic/comprehensive plan, chances are that IF you put these systems into place,

2017-11-04T01:23:07-04:00December 6th, 2015|Productivity & Goals|0 Comments

Financial Advisor Template: Business Vision Statement

By (1) ______________ grow (name of your firm)(2)____________________________________________ into (an adjective)(3) ___________________________________ (4) working with clients living in _____________________________________. Your (5) _________________________________________ firm provides these free and fee based services (6) _____________________________________________ to this ideal client (7) ____________________________________________. In general, we measure success by working (8) ______ hours a week, having a team of (9) _____________, AUM of (10)_________ and revenues of (11) ________________. (c) 1994 One Page Business Plan Company. Updated specifically for financial advisors, planners, and wealth mangers, in 2008, Maria Marsala, Certified One Page Business Plan Consultant. Learn what you and your team need to take your business vision statement to the next level at https://www.elevatingyourbusiness.com/coachmaria.com/

2018-04-14T16:41:37-04:00January 15th, 2015|Productivity & Goals|0 Comments
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