Do You Know What Your Mission Is?

Today I want to talk about your mission statement.  What is it?  Why do you need one?  How do you go about getting one in place?

Your mission statement communicates the soul of your firm to many different audiences.  To your prospective clients, it drives home the fact that you are serious about adding value and positive outcomes to their lives.   To your staff, it reminds them everyday why they are doing what they do and how important their contribution is.  Most importantly, to you, it should serve as a guideline.  When new opportunities come your way, you should remind yourself of your missions statement and ask yourself if this opportunity is in line with where you want your firm to go.

How do you arrive at your mission statement?  Your  mission statement is something that comes from your heart and your head.  It’s a combination of intellectual and emotion.  It is the phrase that articulates why you got into to this business, why you want to be a fiduciary, why that is so important, why you want to be the best at what you do and what is it that you’re going to be the best at?

If you already have a mission statement, congratulations.  You are in the 1% of financial planning profession that has done so.  If not, start to think about it now.  Jott down notes, ask your staff, ask your family.  Then, take some quiet, reflective time and write it out.  Once you have it where you want it to be, frame it and put it in various locations throughout your office as a constant reminder to you and everyone why and how you do what you do so well.

If you’d like some examples, give me a call or send me an email (ginny@backofficeadvisor.com) – take care, Ginny

It’s usually about filling in the gaps…

When I’m asked what kind of work I do with advisors, I say “it’s usually about filling in the gaps”.  Here is what I mean by that.

Nine times out of 10, when an advisor calls me, they  have already built a pretty good firm.  They’re making money (usually not enough but they’re hanging in there) and they usually know exactly where they want to go but they’re not sure how to get there.  Sound familiar?

So, that’s when I come in.  I use a process that examines every aspect of your practice and I benchmark it against where you want to be or what is generally accepted practice management within the industry.  Then, together, we come up with a plan for “filling in the gaps”.  I am a little different from other coaches in that I am also a hands on implementor.  What does that mean?  I’ve done everything from interviewing potential employees, writing their position agreements and confidentiality agreements, writing drafts of newsletters, providing document templates, reviewing compliance manuals…well, I think you get the picture.  See, I believe it’s not enough just to  hand you a plan…you guys are busy and you need someone to actually help you implement it. 

In my opinion, filling in the gaps is what a good business coach does.  They are also the person always looking at the big picture so you can focus on the day-to-day activities of the firm because let’s face it, as a small business owner, this is where most of your energy is spent.  But there is a difference in spending your energy on planned activities that take you toward your goals and just putting out fires.

Bob Veres recently published a coaching report which is free to download on his website at www.bobveres.com.  In it, Bob says “As you can see, the planning profession is fortunate to have a rich and diverse group of people whose business mission is to help you, the planning practitioner, move forward, get over the success hump, and/or achieve your full business potential.”  That pretty much says it all…the folks in this report have a real drive to see you succeed.  That’s where we receive our satisfaction much in the same way you get satisfaction when a client reaches their financial goals.

I would highly recommend you look at hiring a coach to help you get to the next level or wherever you want to go.  After all, why not hire someone who has done this before and can bring ideas and enthusiasm to the table.

Please give me a call if you’d like to talk about how I might be able to assist you (225-751-8009).  Take care, Ginny

What Fall makes me think about…

Ah, September is here…the trees will begin to turn, the air will get crisp and the strategic plans will need to be written and/or updated.

Okay, I know the last one is not part of the traditional fall activities but it should be.  If you’ve read any of my posts before, you know how I feel about strategic planning.

It is the heartbeat of your company.  It is the guide you use to keep you on direction, moving forward, on task, on priority and using your time wisely.  If you have a strategic plan, congratulations but remember, it must be updated for 2010.  If you do not have one, what are you waiting for?  I have templates on my website at www.backofficeadvisor.com that can assist you in getting one in place.  Better yet, give me a call and we can talk about how you get started and how I might assist you.

Fall means alot of things and where your business is concerned, it should mean time to plan for the next year.

Give me a call, Ginny