6 Ideas That Will Make 2009 a Record Year

Are you looking for some inspiration for your business plan? Listed below are seven action items that will help you make 2009 a record year…

1) Make a Commitment to Business Planning
If you want to have a record year in 2009, you should make a commitment to business planning (an ongoing activity) rather than just writing a business plan (a one-time event). Business planning is a process that consists of developing, monitoring and adjusting a strategy for your business. When you enter into business planning mode, it’s like going up in a helicopter and looking down on your business. This high above view allows you to see the forest down below. Most people spend the vast majority of their time working on the tactical aspects of their business and not the strategic. Here’s a tip: make time for planning by building strategy sessions into your calendar.

2) Organize Your Team around Functions
Your business has certain core functions that must be performed (marketing, portfolio analysis, client service, etc.). When you organize around function, you are basically assigning each function to one or more individuals. This is the best way to achieve true togetherness on a team. The alternative (which is the model used by many people) is to organize around products or services (managed money, retirement plans, insurance, etc.). The biggest flaw with this model is that the people who make up the team are responsible for performing all of the core functions; this cannot be done. The end result is often a group of people who are operating their own business (ineffectively) instead of belonging to a single, cohesive practice.

3) Make Room to Grow
If you want your business to grow faster, it must have room to grow. In order to grow your business, you need to have time to market. You must also have time to process the new clients and service the ones you have. Here’s a tip: market data is more important than product data. Marketing, which is the engine that drives your business, is a function that requires you to be proactive. You create room to grow by minimizing the barriers that are keeping your business from achieving its full potential. This includes having too many clients, trying to be all things to all people, and asking the wrong people to perform certain functions. The bottom line is that you have to have some “running room” if you want to increase the growth rate of your revenue line.

4) Develop a Professional Brochure
If you want to be successful in attracting new clients, you need to position yourself as someone who is serious about serving your ideal market. The best way to do this is to invest in a professional brochure for your business. Once you have developed your brochure, the first thing you should do is get several copies into the hands of your key clients and centers of influence – anyone who is in a position to refer you the types of clients you should be working with.

5) Implement a Seminar Campaign
After all these years, seminars are still one of the most effective ways to attract new business. Keeping this in mind, you have to be creative if you want to stand out from the crowd. For starters, try calling them something else like workshops, symposiums, briefings, etc. Link your topics to target markets that you are trying to attract. Finally, select unique venues. Rather than using the same old hotel, try a local art gallery, museum or historical property. Here’s a tip: hold quarterly seminars and invite appropriate clients and prospects. Mail out wedding style invitations and use a caller to follow up. This will be much easier and more effective than straight cold calling.

6) Implement a “Four Seasons” Client Appreciation Campaign
Many people view their marketing seminars and client appreciation events as one in the same. You will achieve better results (and avoid potential conflicts of interest) if you keep them separate. A client appreciation event should be just that. This should be an event that you set up as a way to appreciate those who appreciate you. You should appreciate and thank your clients for their loyalty and trust in doing business with you. Make these appreciation events annual traditions and try, if possible, to implement an event during each of the four seasons: Winter, Spring, Summer, Autumn. Match client invitation list to event type and encourage clients to bring friends and family.

Remember that it takes money to make money. Treat your business like a real business. If you want your business to grow faster you should plow some of your profits back into making it grow. There is probably no better investment you can make than to fund the future growth of your own business. If you don’t believe that, it may be time to retire or embark on a new career.

There is no better time to re-evaluate your current situation than the present. Jeff Moore is president of JM GetMoore Insurance & Financial Services L.L.C. He can be reached at (956) 928-1811 or by e-mail: jeff@getmooreinsurance.com