23 August 2022

Mission Statement vs. Business Vision Statement: What’s the Difference?

2022-08-24T23:38:01-04:00August 23rd, 2022|Strategic Planning|0 Comments

A Mission Statement is about your clients, their results when they work with you, and the benefits of working with you.  A Mission Statement is no longer than eight words.  Your mission statement doesn't change.  The words might get tweaked, but not it's intent. A Business Vision Statement paints a picture of your company goals and your growth.  It’s usually a paragraph or a few sentences in length.  Your vision statement changes over time because it includes your goals, staffing needs, and more. Essentially, it's their focus that makes them different from each other.   That's the process and definitions I use when I help clients create the vision and mission statement.  I know others who

16 August 2022

Why Does Your Firm Need a Business Vision Statement?

2022-08-16T21:17:32-04:00August 16th, 2022|Strategic Planning|0 Comments

Every business starts with a founder who has a vision—a mental image of hopes and dreams—for the company's success.  If the vision is not written down and used, over time, it gets lost in daily routines, life’s emergencies, and 60-hour-plus work weeks. A Business Vision Statement (BVS) answers these questions:  What are you building?  Where do you want to go? A BVS is the foundation of a business plan, just like a client’s personal vision is the foundation of their financial and life plans. Without a clear vision, your business might not grow, or perhaps it will grow into something you don’t like or even recognize!  OR your business might grow to a certain point, then

12 December 2021

Do This Before You Create Your First Strategic Plan

2022-09-13T20:48:08-04:00December 12th, 2021|Strategic Planning|0 Comments

I'm not going to lie to you.  Advisors can do well without planning, and many do for quite some time.  Then they get stuck.  The owners try everything, working even harder and longer hours.  They are BUSY!  Yet, they’re reaching neither their business nor personal goals.  They're often quite exhausted and find that they're making more mistakes. To become a high-performing organization and to grow rapidly, a company really needs a planning and monitoring process they're willing to use to grow their business and themselves. Got yours? I sure have mine! Back in 2000, I finally came across a planning system I was willing to use.  Ironically, I'd taught business planning classes at a local college, but I

13 September 2019

Marketing Plan or Business Plan, Which Do You Need?

2022-08-07T16:12:03-04:00September 13th, 2019|Strategic Planning|0 Comments

Most advisors start out with the same basic dilemma,  They have neither a business plan nor a marketing plan. Instead, they’re winging it! Needless to say, this isn’t the most efficient or effective way to run a financial firm. It’s also a good way to consistently work 50+ hour weeks, suffer from the constant nag of stress, and end up with a dreadful case of burnout! Do you know the difference between a business plan and a marketing plan? A business plan is not a marketing plan. Having a marketing plan without a business plan leads to churning through a lot of money fast. So what’s the difference and which one do you need? I’m glad

13 September 2019

Strategic Planning Roadblocks Explained

2022-08-07T16:12:03-04:00September 13th, 2019|Strategic Planning|0 Comments

Most advisors don’t use a business and marketing plan to drive or guide the growth of their business.  Then one day they decide it's time. They come to me kicking and screaming about writing a plan, not wanting to do it, but somehow innately knowing that a plan is overdue. Why don’t advisors, who help their clients plan, create a plan?  The explanations go something like: “I don't need funding, so I don’t need a 50-page business plan.” “My plan is going to change anyway, so why should I waste my time creating it?” “It will take too much time.” “I started to and found it overwhelming.” “I didn't start a business to do the types

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