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Practice Management > Building Your Business

Three ways to reach your potential

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Making yourself and your firm stand out above advisors in your market area isn’t always easy and sometimes getting ahead means going back to the basics. Here are a few well-known, but often-overlooked, ideas to boost your chances of success.

Update your technology. Times are changing and so are the ways to make money effectively. Revaluate your current market tools: Are you using outdated means to entice bored audiences? Today’s senior market is growing more and more technologically savvy, and so should you. Consider making your debut (or updating your look) on social networking sites like LinkedIn and Twitter. Invest in marketing tools to push your Web site or blog, but don’t lose sight of your old friends: seminars, brochures, and face-to-face interaction. Remember that technology has, in some ways, made advising easier but it should never serve as a replacement.

Back up your reputation. As Kelly Shaw, CEO of Links Asset Management Group in California says, “In the 1980s it, was all about bling; today, it is all about being transparent. Clients want to know exactly who they are dealing with.” Having a clean “bill of health” for your business has never been more important to your customer base. Protect and promote your reputation by joining organizations that provide consumers with credible business reporting. Shaw suggests looking into your local Chamber of Commerce, the Better Business Bureau, and, most importantly, the National Ethics Bureau. Utilizing these organizations means highlighting your greatest successes — a sure-fire way to encourage fresh business.

Put yourself out there. It’s not enough to sit behind a desk and wait for your next client to come to you. Now is the time to get down and dirty within your community. Consider joining local organizations and committees within your area like Rotary Club or Toastmasters. Investing time and energy in activities within the community boosts your image. Plus, chances are you’ll meet new networking opportunities and — if all goes well — discover new business endeavors. All in all, staying open and active within your community often results in increasing your credibility — something you can never have too much of.


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