Time-bound: Have you set aside enough time to achieve the goal, but not so much time that the goals becomes lost and/or blurred? Relevant: Considering all available resources, your knowledge base, and the timeline, is the goal relevant and tied to the needs and aspirations that you have for your business?

“Small wins” can set you up for longer-term success

desired change.Īttainable: Given all of your assets and resources, your goal must be possible. You will want to identify markers to know when you have achieved your goal, i.e. Measureable: The goal must be quantifiable and able to be calculated. Clear to anyone who has a basic understanding of the issue and/or project. Specific: Straightforward and well defined. Without belaboring an oft-discussed topic, here are some S.M.A.R.T. goals over 30 years ago, published by MIT Sloan. Doran, in an issue of Management Review first introduced the concept of S.M.A.R.T. An activity that might lead to this aspirational change might be doubling the number of Loyal Client Advocates that serve your practice.Īnother aspect of goal setting is the importance of having clarity and focus, i.e. For example, a financial advisor might set a goal of becoming one of the top 10 percent of revenue producers within their firm. In the first place, a well-set goal focuses on the change that you aspire to see, as well as the activities that might lead to these changes.

They review, and reflect back on them, at least once a quarter.Īs straightforward as these behaviors may seem, we also can report another somewhat surprising statistic, which is that 79 percent of financial advisors surveyed do not consistently set goals, write them down, and reflect on them periodically.

They write these goals down, and post them in a place that is impossible NOT to see.

They set clear goals and priorities consistently and periodically.

We have observed that the best financial advisors practice three simple, yet critical, behaviors: ClientWise research shows that goal setting is a key value-driver with respect to top-performing financial advisors and their financial advisory practices.

Winscan markers