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Cornerstones of Change

Personal and Professional
Change Indicators

Prior to discussing the 8 Key Business Practice Systems, we first need to determine how likely it will be that the Advisor can successfully build and implement these systems.

There are four overarching factors that influence an Advisor’s ability to structure a achievable business model.  These four change factors are:

  1. The Advisor’s Vision
  2. The Advisor’s Accountability Team
  3. The Advisor’s Business Environment
  4. The Advisor’s Personal & Professional Balance

    These four factors permeate all 8 practice management systems.  In analyzing these Personal and Professional Indicators, we can get a read on how supportive the Advisor’s current work environment, the people surrounding the Advisor, and the Advisor’s vision will be in building and maintaining business practice systems
  1. Advisor’s Personal and Professional Vision

Vision elements:  Advisor’s image, both internal and external, why the Advisor is in this business, mission statement and goal setting.

In reviewing an Advisor’s vision, we explore all the various aspects of his or her image.  Image can be created proactively or be imposed upon you by others.  How are you viewed by your peers in the financial services business and the professional community?

How are you viewed by clients, prospects and centers-of-influence?  Your image, real or perceived, affects your approach to building business practice systems.

What business are you in?  Is it clearly articulated? 

Have you created a mission statement that can be shared with everyone you come in contact with?  How unified is your approach to your personal and professional lives?

Finally, we look at how you go about goal setting, both short and long-term, both professional and personal.   Again, these goals will help determine the direction the business practice systems will take.

  1. Advisor’s Accountability Team

An accountability team consists of those persons whose opinions, guidance and experience you trust. This is commonly called a “Board of Directors” for your business practice.  We spend time identifying these folks, determining and then exploring how you have set up feedback opportunities with them. 

The primary point is to empower your accountability team to keep you honest in the building and refining your key business practice systems. 

  1. Advisor’s Business Environment

Environmental elements: The people, culture, office structure, technology, competition and compliance surrounding the Advisor’s business practice.

The third of the Personal and Professional Indicators takes a look at the Advisor’s Business Environment into which we will insert and build systems.  Generally, we consider:

    • Who the Advisor has available to build and implement systems
    • What kind of culture is the Advisor working in and how conducive is it to building and implementing systems
    • What kind of structure is available to the Advisor in building and implementing systems
    • What technology the Advisor has to work with to build and implement systems
    • What the competitive situation is for the Advisor that might influence the building and implementing of systems
    • What the compliance issues might be that affect the building and implementation of systems
  1. Advisor’s Personal & Professional Balance

Balance elements:  Advisor model week, goal achievement, goal sharing, personal vs. work time.

The fourth change indicator is all about life balance.  An Advisor whose life skews too much to the personal side or too much to the workaholic side may well be setting himself up for “practicide.”   Discussion revolves around:

  • Writing out a model week that provides agreed-upon times zoned for one’s personal endeavors and one’s work necessities.
  • Sharing this model week with one’s team and one’s family.
  • Sharing goals, both personal & professional, with the Accountability Team members, staff and family.
  • Ensuring both personal and professional goals are realistic and achievable.
  • Keeping spiritual development in mind
  • Keeping physically fit
  • Managing personal & professional relationships

All four of these indicators when taken together will influence they types of systems to be built (or bought) and implemented.