Fundamental 1 – Strategic Planning
FUNDAMENTAL 1 – Strategic Planning
The main objective in this fundamental is to create an uncomplicated plan that clearly defines the direction of the practice. Primary focus areas include business and succession planning, creating organizational structure, and collaboration amongst the management team. It is crucial for management to develop realistic goals and objectives creating the framework for team member focus. Even more crucial is management’s ability to communicate these goals so that the common focus permeates throughout the team. Plans and models that are stored on a computer are seldom implemented and likely to be forgotten.
|Business Model||What type model are you following – solo, silo or ensemble? Strong ownership mentality helps drive success and creates focus to leverage services offered.|
|Investment Model||Designing a methodology for managing your client investments is essential for a clear representation of financial performance and aides in effective decision-making.|
|Operating Costs||What are the ongoing costs for running the business? Surprisingly many business owners have an unclear view of these expenses, which is key to achieving the sales goals.|
|Compensation||Disciplined compensation plans are crucial for top-performance. Develop strategies for effectiveness without paying too much and maintaining competitive compensation.|
|Incentive Plan||Discover how to motivate employees and grow the business. Reinforcing exceptional behavior with attainable goals tied to specific performance drives desired results.|
|Business Plan||Are your goals clear; attainable; and reachable? Bring your plan to life by communicating it to the team and visually tracking milestones for better business focus.|
|Strategic Alliances||Cultivate a web of alliances with your peers to identify and implement best practices to build a world-class business and achieve bottom line results.|
|Succession Plan||Failure to plan for succession jeopardizes more than timing of retirement. Selecting the right successor and positioning the practice for acquisitions are both factors for active planning.|
*Any of the above KPI’s can be combined to form the basis of a workshop, performance coaching, or project consulting partnership.
We would love to hear from you!
Thanks for your inquiry!
We will be contacting you shortly. In the meantime please feel free to connect with us on social media and explore our blog posts.
Ironstone understands the importance of protecting your privacy. We will not sell, rent or give your name or address to anyone.
Latest Blog Article
Financial Advisor Videos: Give Your Audience What They Want
At least once a week we’re on a call with an interested client who tells us, “I want video, but I have no idea what to talk about.” It’s usually raised by someone who has seen a stat like this: “Video is projected to claim more than 80% of all web traffic by 2019.” — […]Read More>