The fall season is just a few weeks away and it is about this time every year, these last few days of summer, when I begin to welcome the change in seasons. I am ready for the cooler weather, fall decorations, and the change in the leaves. I doubt I am alone. The thing is, fall is a great time to start thinking about change. I am sure many of you are beginning to plan and explore options now for developing strong and sustainable growth changes in your firms for 2017.
Preparing a road map for driving a high-performance organization is something that cannot be left to chance or be a second thought. Successful strategies for firms include impact, effectiveness, accountability, and measurement. Growth-minded firms ensure their overall strategy is aligned with the firm’s vision and mission, supports strategic goals, and targets the appropriate audiences to protect the growth and health of the firm for years to come.
As you begin to plan for the sustainable changes you would like to see in your firm, here is a list of 5 key elements to consider when positioning your firm with strategies that ensures intentional and long-term future growth.
View Your Firm’s Growth Capabilities from a Perspective of Strengths and Weaknesses. When considering any growth change, you want to begin with an internal firm assessment. An introductory growth assessment provides you with perspective and identifies gaps where the firm is effective and where there may be opportunities for improvement. These results are also direct insights from your key leaders.
Strategies For Your Organization Should Include Holistic Capabilities As Well As Targeted Specific Initiatives. When providing maintenance on your car you can buy an oil change or you can ask for an engine tune up. The truth is you probably need both. Enhance and develop your business development culture with an overall holistic approach as well as specific targeted initiatives that focus on growing a particular niche or industry. Go back to your firm’s mission and vision. What is needed on a holistic approach to ensure you are living up to those words and then what specifically could your firm focus on that you can see some real return of investment.
Look For Ways To Position Your Firm In An Evolving Industry. The firm of the future is going to be very different from the compliance services that are offered today. Create initiatives that focus your firm’s efforts on networking with other industry and firm leaders to gain valuable insights into what they are doing and what is working for them with trends and technology. Invest time into exploring best practices, innovative management techniques and new service lines that go beyond traditional compliance services.
Pay Attention to Your Clients’ Industry. Develop an internal culture that focuses on super-serving clients and allows you to proactively anticipate their needs and wants. When your people are intuitively keeping their radars alert on new trends and challenges in their client’s industry, you position your firm at the top of the value ladder for your clients.
Embrace Moving Your People From Compliance-Driven Servers To The Consultative “Trusted Business Advisor” Role. How are you providing your professionals with opportunities to develop skills that allow them to showcase capabilities and knowledge as a true advisor? With so much statistical concerns around retaining best staff, providing opportunities to grow as individuals is more important now than ever before. If you’re not providing this, someone else will.
Change is constant and should not happen by default. Embrace this upcoming fall season and strategically position your firm to thrive by developing strong and sustainable growth road maps. Businesses either grow or stagnate. Growth creates a dynamic environment and adds value to the company. The question for many firms is not whether to grow, but how. And ‘the how’ starts now.
We offer comprehensive services that address every aspect of a firm’s growth capability. We pride ourselves on our well-established record of working closely with clients to co-develop and deliver comprehensive solutions. We welcome a discussion on how we can help optimize the growth capability of your firm.
Robin Brothers, Senior Relationship Manager
Jennifer Kernan, Consultant