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Fundamental 1 – Strategic Planning

  • By Michael Robbins
  • |
  • February 27, 2012

FUNDAMENTAL 1 – Strategic Planning

The main objective in this fundamental is to create an uncomplicated plan that clearly defines the direction of the practice.  Primary focus areas include business and succession planning, creating organizational structure, and collaboration amongst the management team.  It is crucial for management to develop realistic goals and objectives creating the framework for team member focus.  Even more crucial is management’s ability to communicate these goals so that the common focus permeates throughout the team.  Plans and models that are stored on a computer are seldom implemented and likely to be forgotten.



Business Model What type model are you following – solo, silo or ensemble?  Strong ownership mentality helps drive success and creates focus to leverage services offered.
Investment Model Designing a methodology for managing your client investments is essential for a clear representation of financial performance and aides in effective decision-making.
Operating Costs What are the ongoing costs for running the business?  Surprisingly many business owners have an unclear view of these expenses, which is key to achieving the sales goals.
Compensation Disciplined compensation plans are crucial for top-performance.  Develop strategies for effectiveness without paying too much and maintaining competitive compensation.
Incentive Plan Discover how to motivate employees and grow the business.  Reinforcing exceptional behavior with attainable goals tied to specific performance drives desired results.
Business Plan Are your goals clear; attainable; and reachable?  Bring your plan to life by communicating it to the team and visually tracking milestones for better business focus.
Strategic Alliances Cultivate a web of alliances with your peers to identify and implement best practices to build a world-class business and achieve bottom line results.
Succession Plan Failure to plan for succession jeopardizes more than timing of retirement.  Selecting the right successor and positioning the practice for acquisitions are both factors for active planning.

*Any of the above KPI’s can be combined to form the basis of a workshop, performance coaching, or project consulting partnership.

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