18 Ways RIAs Can Get Unstuck
It’s time to sing a better song
Planning and taking consistent action toward what you’ve planned often makes the difference between success and failure—growth and stagnation. But many people won’t plan, don’t plan, and create dozens of excuses instead. Right?
You see this in your retail or institutional clients.
I see it in in my advisor clients, too!
Clients who get to the point where they’re ready to sit down and plan change the tune they sing. Something happens in their lives or to someone they love and they decide to kick excuses to the curb and develop a no-excuses mentality.
They stop reliving the negative and move forward. They sing a new song of victory!
18 Notes RIA-CEOs Use To Sing a Better Song
In a nutshell: plan, execute, measure, and adjust when necessary. Below are my “notes” for creating a better song.
1.–Speak the truth, especially about your personal and professional visions.
2.–Be ready for a new level of your destiny.
3.–Be open to new ideas as well as executing ideas differently.
4.–Change your mindset from being an advisor with a practice to being a CEO running a business.
5.–Get rid of the excuses that are holding you back by finding and trying on A, B and C solutions.
6.–Give yourself quality time to learn, read and have fun.
7.–Keep an Activity Audit for 3 months (list of each task/projects of where your time is spent).
8.–Assess your firm, target market, and pricing.
9.–Take an inventory of what you own: equipment, software, furniture, supplies, processes, marketing collateral, equipment, software, furniture, etc.
10.–Define values, culture, business model, mission, and visions.
11.–Create short- and long-term quantitative and qualitative goals (with minimum and optimum acceptable results) that are both reasonable and achievable.
12.–Set priorities with deadlines.
13.–Get your team on the “same page” as you are.
14.–Create a budget.
15.–Take action towards your goals including delegating tasks and holding other people accountable.
16.–Monitor your efforts.
17.–Gather your firm’s processes, workflow sheets, systems, and forms in one place online.
18.–Assess what’s working and what’s not working.
When you get stuck, go back to the first note.
Be determined to kick soul-killing excuses to the curb. Get moving and sing a better song.
(c) 2015 Elevating Your Business. Maria Marsala is the founder of Elevating Your Business, an operations and marketing management firm serving fast-growing Registered Investment Advisors (RIAs) building ensembles or enterprises. Let us help you grow your firm more efficiently and effectively. Contact Maria by phone at 360.271.8418 or on the web at www.ElevatingYourBusiness.com