Too often advisors are spinning their wheels on numerous tasks. Whether they are small business owners or part of a larger organization, it is easy to get pulled in too many directions. Advisors need to make time to plan, whether it is a quarterly off-site meeting, an occasional retreat or just routine time blocked on the calendar.
In the beginning of the business planning process, advisors should start with defining or revisiting the mission statement. A good mission statement should:
- Provide a direction for an organization, challenging it to move forward.
- Be clear.
- Be concise (no more than three sentences ).
- Be professionally written, but in the voice of the organization.
- Be easy to remember and recite.
- Although not permanent, it should be written for the long term.
- Shouldn’t be too restrictive, as change is always constant.
- Should help differentiate a firm from the competition.
- Should resonate with the appropriate target market(s).
- Should educate strategic alliances and centers of influence.
Need help determining your mission statement and strategic direction? Contact Byrnes Consulting.
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Mike Byrnes founded Byrnes Consulting to provide consulting services to help advisors become even more successful. His expertise is in business planning, marketing strategy, business development, client service and management effectiveness, along with several other areas. Read more at www.byrnesconsulting.com. (C) 2011 Byrnes Consulting, LLC All rights reserved.