Author Archive | Susan Kornegay

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Your Core Values & Why They Matter

Most people have some type of core values or belief system that influences what they do in business and in life. Areas in your practice where your core values may be particularly relevant include client experience, investing, team interaction, business practices, marketing, and business development. Here are some examples of how your values or beliefs impact your approach. Client experience – the importance you place on the depth of relationships you establish with your clients; how comprehensive and consistent you believe your advice process should be; what you believe about […]

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What If a Prospective Client Isn’t Ideal?

You’ve met (or been referred to) a new prospective client. Fortunately, you have a clearly defined description of your ideal client criteria. Unfortunately, this prospective client doesn’t meet them. What do you do next? There are three possibilities. 1.  Pre-ideal First, the prospective client very closely resembles your ideal client in all the qualitative areas you’ve defined. However, he or she doesn’t yet meet your required level of assets. The operative word is, “yet.” We would call this prospective client, “pre-ideal.” They are pre-ideal because you know that they will […]

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Defining Your Ideal Client & Why It Matters

Like most advisors and planners, you may have a pretty good understanding of who your ideal clients are. If I were to ask you to identify them, it’s likely that four or five clients would immediately pop into your head. But you may not have taken the time to identify the specific traits or factors that define your ideal clients. Your first thoughts are likely to be quantitative. How much assets must they have under your care and management? How much revenue should they generate to meet your expectations of […]

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Your Vision & Why It Matters

One of the great things about January is that it’s a new month, a new year and to some degree, a fresh slate. It’s no surprise that more people join gyms or buy workout equipment in January than any other time of the year. For your clients, the new year is an appropriate time to rethink their goals for building financial security for retirement or financial independence, as well as measure the progress they have made over the past year. For you, it’s a great opportunity to refine your vision […]

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Your 2018 in Review

Barring a major turn-around in the equity markets in the remaining days of 2018, most would agree that it’s not been a stellar year. But the measure of your success should not be based on how the markets do, over which you have no control. Rather, let’s look at what you can control and assess your practice in five key areas over the last year. Your Purpose How much progress have you made toward however you define your ideal practice? How well have you focused on seeking new ideal clients, […]

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2019 Business Planning: Go!

Last week we looked at setting your quantitative goals and developing your strategies for meeting them in 2019. Now let’s talk about how to get started on implementation. By now you should have a list of your specific strategies for 3 key areas – client experience, support structure, and growth. Putting together a simple spreadsheet will enable you to sort your list and track your progress. We suggest including columns for Priority, Strategy Description (abbreviate as needed), Start Date and Status/Next Steps. You can also add a column if you want […]

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2019 Business Planning: Get Set

Assuming you have followed the recommendations we provided in 2019 Business Planning: Get Ready, by this point you have: Reviewed and refined (or redefined) your vision for your ideal practice – what you want your practice to look like going out 3-5 years. Defined or redefined your ideal client – the clients your practice is designed to serve well and you want to attract. Reviewed how you did in 2018 – which quantitative goals you met or exceeded, and which ones were missed. Now it’s time to put together the […]

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2019 Business Planning: Get Ready

It’s that time of year again…time to take out the 2018 business plan, dust it off, and see how things have gone. Now, where is that plan? In the back of the desk drawer? Under the stack of papers on the credenza? Isn’t that the problem with business planning? So here we are, looking ahead to the new year, excited about capitalizing on the opportunities ahead. We think about all the things we can do to better serve our clients and grow our business. We set goals and think of […]

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Authenticity and Conviction, part 2

Last week we asked the question, “If financial planners and advisors have such a life-changing impact, why aren’t we shouting it from the rooftops instead of feeling (and sounding) so awkward?” We suspect that you can think of at least one story about someone whose life was changed for the better because of the guidance they received from you or from another planner in your practice. Is that true for you? Think about that client’s story. What was their situation before they engaged with that financial planner or advisor? What […]

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