Your Roadmap to a Successful 2016

With the clock ticking down on 2015, it’s time to take a quick look back…and then ahead.

How would you describe your business results over this past year? Better than you expected? Pretty much what you thought? Or, are you a little disappointed?

Have you delivered a great experience to your clients? Is your practice functioning well, with just the right people onboard? Have you experienced the growth you hoped to achieve?

Finally, what are your plans to get off to a strong start in 2016? Sometimes, financial advisors and planners can be so focused on planning for their clients’ future, that they neglect to make the time to plan for their own!

Here are six steps you can take as you begin to think ahead to a successful 2016:

  1. Prepare to plan. Pull out and review your vision for your ideal practice. Does it still represent where you want to be in three to five years? Review your description of your ideal client. That’s someone who fits your quantitative expectations, and who needs what you do, wants what you do, and most of all, values what you do. Keep that ideal client in mind as you plan for 2016
  2. Set your quantitative goals for next year. Most planners start with revenue, assets under management, and client households, but don’t overlook additional goals. What other goals do you believe are valuable to your business that you want to track?
  3. Think about your client experience – planning and service. Is it as comprehensive and consistent as you want it to be? If not, write down what you want to do to make it better.
  4. Think about the support structure you have in place to deliver that client experience. Do you have the appropriate people, processes, and technology, and are they functioning well? If not, write down what you want to do to improve your team structure, policies and procedures, technology, and other resources.
  5. Think about how effective you have been in bringing in new clients, new assets, and new revenue. Does your marketing messaging clearly differentiate the value you provide to your clients? Is your message reaching your target audience, and are you seeing the results you want from it? If not, write down what you want to do to improve your marketing messaging and/or strategies in 2016.
  6. Pull together your list of improvements from all three areas— client experience, support structure, and growth. Decide on your priorities. Establish your timeline. Get started!

Do you need a template to help you put together your roadmap for 2016? Click here for a free copy of the Business Roadmap template we use with our coaching and consulting clients.

Just like the planning you do for your clients, good business planning doesn’t have to be complicated to be successful.

Wishing you the best in 2016!

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