While most people look forward to this time of year, I have fear and trepidation.It’s not the holiday season that bothers me, I actually look forward to seeing our boys so excited, hearing the music of the season, and smelling cookies baking. What I fear is spending countless hours trying to follow some poorly written, almost incomprehensible instructions on how to put together some toy or gadget. How am I supposed to follow those instructions when the little pictures don’t match what I have in front of me?
When I think about those confusing directions, I picture some fine craftsman who, after creating his/her masterpiece, turns it over to the production teams to be mass produced by others. The craftsman explains how to mass produce the gadget, but does not document the actual steps. Apparently, the production teams think that 75% right is good enough — so at that point, I am left with a few screws and random parts after I “complete” the project at 2:30 a.m. on Christmas Eve.
Sound familiar? Sound like your business? Are you the master craftsman whose processes aren’t followed because you didn’t document them correctly?
Managing relationships smarter
In my experience, many firms are key person (advisor) dependent. Most of the knowledge around client relationships and key processes are in the heads of one or two people, and not documented. That is great if you want job security — but what about your staff, successors, or even a potential buyer? How can you expect your office to run smoothly and clients to remain satisfied if you are the only one that can do it?
As your business and client relationships become more complex, your firm needs to embrace smarter ways to manage them. Please join Raef Lee, Spencer Segal from Actifi, and me on Monday, December 9th for our newest webinar Workflows: The Key Ingredient to a Sustainable and Sellable Advisor Business. We will explore:
- Creating repeatable workflows using your CRM
- Maximizing technology to increase your efficiencies
- Using data to and metrics to identify successes
- Optimizing sales, service, and operations to grow your firm
Think about anyone who may work for or step into your firm. Can you picture them making a seamless transition, or would they be up at 2:30 a.m. the day before an important client meeting, trying to find a way to fit “Tab A” into “Slot B.” If the answer is not seamless, they are in for a long frustrating night.
I hope you join us on Monday. Register Now.
What’s Your New Year’s Resolution…for Your Practice?
Since we’re on the topic of holidays, take a minute and complete our Year-end Advisor Sentiment Quick Poll. We’re interested in finding out what your top five investments will be for your practice in 2014. One lucky advisor who completes the short survey will be eligible to win a $100 Amazon gift card.
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