Bill Good Marketing

Daily Planning for Growth

One of the monumental challenges advisors face in this business is making enough time for clients, prospects, administrative functions, and everything else that needs to get done. So, without any doubt, an advisor’s most valuable resource is their time.

As an advisor, your time is worth $25 a minute. (Yes, you read that right.) For every minute you work, you could be making $25. But only when you are meeting with clients and qualified prospects. That is the monetary value of your time.

We came to this figure after several time management studies, seeing what successful advisors do with the time they have. And more importantly, we discovered what they don’t do with their time.

If your time is only worth that much when you are meeting with and talking to interested, qualified clients and prospects, what do you think happens to derail that?

I will give you a hint… It has to do with delegation. Your production ceiling is created by the non-sales tasks you are doing yourself. These cost you time which in turn can cost you money.

So, the first thing we tell any advisor who is looking to break through their production ceiling is this:

DELEGATE ALL NON-SALES, NON-ADVICE DUTIES TO YOUR STAFF.​

And the second thing we tell them is this:

ENSURE YOUR TEAM PROTECTS YOUR TIME.

By study, interruptions can take as many as 23 minutes to refocus and return to a normal workflow. That means for every interruption you lose $575 just trying to refocus, nevermind the cost of the time the interruption takes for itself. OUCH. To that end, interruptions need to be rare, which makes it your team’s job to protect your time.

So, how can you avoid unnecessary interruptions to ensure you meet the $25-a-minute baseline?

Daily Planning

What should you cover in your daily planning session?

Appointments

Look at your appointments for the next business day. Get any documents or reports sent to your team to collect and make available. Is there anything you can do for that particular meeting to make the experience great for the person you are meeting with? If so, get it prepared. This ensures nothing is left to last minute and sets the tone for a great meeting.

Opportunities

Scan through the list each day; you will find some inspiration on occasion. Maybe you read a report from your favorite economist the night before that would be perfect for that prospect with heavy exposure to senior loan funds. You might even, after scanning through, remember to update a couple on the last steps needed to bring in that opportunity.

Top Tier Clients

Look for things you can do to add to their client experience. Maybe you see a name you haven’t personally spoken to in a while (sign of a good team). You could include them in some of your proactive call time today. You might see a name or two where you get an idea of a “Wow” gift you could send as a “thinking about you” note.

Proactive Time

Every advisor should spend at least 20% of their day in proactive work. That could be rainmaking or better client experience work. Either way, take this time to plan activities that help further your business.

Checklist

How often in the last couple weeks have you left for the day feeling like you were really busy, but can’t think through what it was you actually accomplished? If it has happened at all, it is probably because you don’t have a list you can check off. So, as part of your daily planning, write down several things that need to be done.

There is something powerful about checking things off. It removes that feeling of doing a lot but getting nothing done.

Conclusion

The hardest part of doing your daily planning is making it a habit. If you can push yourself to do it for three weeks straight, you will see and feel the benefit, especially when your $25-a-minute salary starts to show up in your paycheck.

Matt Hicken AAMS ®

Matt Hicken AAMS ®

Matt Hicken is the Sr. VP of Client Success at Bill Good Marketing. For over 21 years Matt has worked in the Financial Services industry not only coaching advisors all across the United States and Canada, but has implemented them himself while working in the industry growing a half billion dollar team.

learn more on:

Recent articles

The Six Worst Mistakes in Seminar Marketing

There are countless ways to mess up seminar marketing. Of all the possibilities, any one of these can create poor results. Commit two or more of these seminar sins, and you will join the legion of advisors who mutter “Seminars don’t work anymore.” Seminars do work, by the way, so long as you get everything right…

Read More »

Closing is for Losers!

Years ago, I was a devotee of J. Douglas Edwards, the great sales trainer of the ’40s and ’50s, who believed that closing was the highest form of sales technique. One of Edwards’ tapes presented 22 ways to close the sale, and I memorized most of them. However, I now believe that closing techniques are, at best, overrated and have very limited uses. At worst, they are downright harmfu…

Read More »

How and Why to Form a Partnership

I have been an advocate of teams in the securities industry for a long time, longer than most have been in the industry. My writings on this go well back into the ’80s, when some of my younger readers were still in training pants. I profoundly believe that it is only teams that will survive and amount to anything. One form the teams will take is partnerships. I used to believe everything I had been told about partnerships…

Read More »

Recent webinars

Three Key Traits of Top Advisors

Every year, we talk with top advisors across the country. One of their key traits is they plan for and execute campaigns for growth. We help create customized growth plans for financial advisors like you – and every year, we review how well past growth plans have worked. That helps us see: What prospecting channels are working right now? Which strategies are working right now? Where are the best places…

Watch Webinar »

The Four Investment Rules That Will Win You New Business

The new SEC Marketing Rule contains multiple prohibitions and restrictions that all investment advisors must follow when it comes to their marketing – especially when it comes to marketing their investment performance.
But while this new rule makes selling trickier, it also presents an opportunity for some advisors to get ahead of the game. That’s because Ric and Connor have four rules of their own…

Watch Webinar »

Build Your Own Dream Team

Our hosts, Tony Parmenter, our Sr. VP of Qual and Matt Hicken, our Sr. VP of Client Services together have a combined 50 years of team-building experience in this industry. Together, they have coached advisors on how to build teams that can support million- and billion-dollar practices. In this webinar, they are going to walk you through the qualities, characteristics, and the skills you need to build YOUR own…

Watch Webinar »

ALMOST THERE!

To access this content you've got to register!

Already a member? Log in here!