Your business is critical, but it’s not the entirety of your life. What’s important to you? What do you want to accomplish? Since you can’t do everything, what are things would you most like to do?
This month we are focusing on your 2009 business plan. Over the last two weeks we reviewed your 2008 successes and what you want to accomplish next year.
This week, we’re going to focus on an issue that may seem tangential to your business plan, but is tremendously important — your own life goals.
What do YOU want?
Your business is critical, but it’s not the entirety of your life. What’s important to you? What do you want to accomplish? Since you can’t do everything, what are things would you most like to do?
One top adviser told me he really wanted to coach his daughter’s soccer team. To do that, he reached a compromise with his branch manager; he’d come in early on the days he coached.
An adviser in the Midwest wanted to work from Florida in January and February. To do that, he hired a junior partner and trained him for a year. Now the senior adviser has a flexible work schedule and can escape the cold winters.
The hardest part about aligning your personal life with your business plan is determining what’s important to you and then making a commitment to your key goals. It helps to be precise about stating your goals and mindful of how your choices are likely to affect your work life.
For example, one personal goal might be moving to a bigger house or a better neighborhood. But that may require several extra hours of work every day. Is that worth it? Will being away from your new, bigger home in order to afford it the right trade-off? Only you know the answer.
Here are some questions to ask yourself when setting life goals:
What are the specific elements of a perfect day?
What specifically would I like change about my current way of living?
What will it take to get there?
After you jot down a few goals, highlight the two or three that will fit within your business plan. Add these to your business plan. Without a comprehensive plan that combines and balances your business and personal goals, you are less likely to attain either or reach your highest potential.
Reminder: Pick-up the Phone
If you haven’t contacted your top 50 clients this month and talked to them personally, STOP all other activities and do so this week. Investors disappointed in portfolio performance will feel few qualms about leaving an adviser who hasn’t spoken with them and listened to their concerns. In fact, many investors are considering changing advisers after they get their year-end information in January. DON’T let the lack of communication be the reason your clients leave — call your top clients this week and e-mail the rest. Add an article or investment insight piece in your mailings and reassure them that you have felt the market downturn too.
Next week: Building your activities for January
