3 Steps to Building Your 2023 Business Plan
Start with a high-level goal then drill down to define what strategies, tactics and action steps will lead you to achieve the goal(s). Some areas of focus can include: crafting a robust marketing plan for clients, prospects and trusted advisors, defining your ideal client profile, planning intimate events, developing a new client onboarding process and examining the structure of your team.
3. How will you get there?
Make sure to execute on your plans in a tactical way. If you do a good job on the specifics of mapping out your goals, the execution becomes almost a paint-by-numbers exercise.
If one goal is to gain more clients by partnering with accountants and attorneys, then the execution involves asking clients and other business associates for the for the names and contact information of their trusted advisers.
The next step is to build a database of prospective partners and methodically meet and evaluate them for their partnership and referral potential. Lastly, choose a select group of like-minded professionals to partner and do joint marketing with.
Those who fail to plan, plan to fail. This is an old saying, and there are few places it rings truer than in the financial advisory industry.
The coming year is full of uncertainty, and even some of the best-laid plans are likely to need revisiting. But those advisors who have established a framework for creating goals and taking steps to actually achieving them have a huge head start on whatever the new year may throw at them.
Close out the year by crafting a robust business and marketing plan to help set your practice on the right path for success in the New Year!
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Michael Silver and Eric Sheikowitz are speakers, coaches and consultants with Focus Partners, a Paramus, N.J.-based practice management consultancy.
