Most Advisors Expect Growth But Few Have Developed Strategic Plans, Marketing Budgets, Or Intentional Implementation Hot

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Planning is essential to growth and many advisors have such busy schedules, they let it fall by the wayside. In reality, it is more efficient to take time out to plan.
Not planning causes time and other resources to be spent off focus. Lack of coordination and organization of team and staff members only exacerbate the problem.
Advisors can implement strategies to leverage their resources. Even within a partnership, a definitive culture can be created.
Identifying and understanding a niche will also help target resources and activities.
Marketing should be viewed as an investment in the business, not as an expense. Advisors should have a written marketing plan, allocate funds within their budgets for marketing, and also make sure the necessary resources are available to implement the plan.
Care should be employed when choosing team members. Looking at the quality of members is more important than building a big team.
Marketing and strategic planning should be ongoing. Like everything else, marketing is something that has to be kept alive and vital, both to the evolution of the practice as well as keeping the practice on the leading edge of the marketplace.

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