As a financial advisor, you may have a vision of an ideal practice, an ideal business, or an ideal life that you are working towards. However, the question is how to bridge the gap between your current reality and your ideal. Many advisors try to bridge this gap with different tactics, but they end up building half bridges and abandoning them before they deliver any real results. This wastes precious marketing dollars, time, and energy, and can lead to lost motivation.
The solution to this problem is strategy in three specific areas: short-term strategy, medium-term strategy, and long-term strategy.
Short-term strategy is critical because it is what delivers results today. It is how you make payroll next month or pay the office rent tomorrow. No matter how great the long-term strategy is, if it doesn’t produce results today, you will never make it to tomorrow. For example, writing a book may be a great long-term strategy, but it does not produce results today.
Medium-term strategy is about building momentum and laying the foundation for long-term success. It is about taking consistent and intentional action towards your long-term goals. For example, building a referral network or creating a social media presence can be a medium-term strategy that lays the foundation for long-term success.
Long-term strategy is about creating a vision for your ideal practice, business, or life and taking action towards that vision. It is about setting goals and creating a roadmap to achieve them. For example, creating a niche market or developing a unique value proposition can be a long-term strategy that sets you apart from your competition.
The key to success as a financial advisor is to have a clear vision of your ideal practice, business, or life, and to develop a strategy that bridges the gap between where you are now and where you want to be. By focusing on short-term, medium-term, and long-term strategies, you can build momentum, lay the foundation for long-term success, and achieve your vision.