There are a lot of approaches advisors take to run a successful business. Adam Rex, AIF, CFP, a 10-year MDRT member from Virginia Beach, Virginia, says these five elements have helped him in his practice.
- Document your ideal customer. Think of who you met that worked and what it is that made that connection strong. Recognize and repeat.
- Strategic plan. Establish your approach to your business, informed by your clients and an outlook of “This is who we want to work with.”
- BHAGs—big, hairy, aggressive goals (taken from Jim Collins’ book “Built to Last”). Set some baseline items to accomplish, then think of bigger ones. Follow through.
- Key performance indicators. Identify how to track success, and know what’s working and what isn’t.
- Accountability and ownership over action items. Don’t allow an idea to be brought up and forgotten. Make sure tasks are assigned and executed.
Read more from Rex in the Round the Table article “Focusing on military clients.”