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