PRACTICE TOOLS OVERVIEW
The Business Practice Checkup begins with the end in mind—building a prime practice and operating at the peak of your game. It was developed to provide financial advisors with a gauge to measure the overall health of their practices and to identify growth opportunities. This tool carefully takes a holistic approach to this process, recognizing core best practices, yet understanding that each person has a unique mission.
The Prime Practice has two characteristics:
- Your time is spent exclusively doing what you do best. Everything else is systematized and delegated to an administrative and marketing resource.
- You have built a business that can be leveraged (completely transferable) for future income and/or growth opportunities.
A Prime Practitioner:
- Is not afraid to blend his or her personal and professional life
- Has a powerful referral (self-promotion) process
- Aspires to reach peak performance
- Has strong accountability resources
- Creates, develops, and empowers a team consisting of multiple employees, as well as partners, consultants, joint workers, and centers-of-influence
- Uses relationship-management software
- Participates in wide-ranging study groups
- Is involved in his or her community and industry
- Embraces technology
- Offers medium-to-full-range financial services and products
Our 110-point checkup provides a profile of your practice’s vital statistics. The assessment compares your business to best practices of these eight essential business systems:
- Client Acquisition
- Client Management
- Sales Process
- Case Development
- Time Management
- Financial Management
In addition, the checkup determines the health of your environment in achieving Prime Performance. These four Change Indicators are:
- Accountability Team
- Business environment
- Life Balance
Upon completion, you will receive a comprehensive personal evaluation that identifies action steps to facilitate the healthy growth of your practice, along with prescribed resources for implementation.