Whip Your Business Into Shape in 2009

Hopefully you are feeling rejuvenated after the holidays and ready to take on the new year. To get the year off to a strong start, spend a few moments thinking about which areas of your business can be improved. Here are five things you can do right now to make your business better in 2009:

• Figure out who your best clients are. The clients you spend the most time with are not necessarily your best customers. Review your client base from a profitability perspective. You should, of course, treat all your clients well, but resolve to give your best clients the VIP treatment. Get in touch with them. Give them a call to let them know you appreciate their business, keep in contact with cards or newsletters and consider holding a Client Appreciation Event.  

• Schedule employee reviews. It is also a good idea to keep in touch with your employees. They keep your company running smoothly and it’s important that they feel like you care about them and their career success. This is also a good way to engage your employees in the overall mission of your company. You never know what great ideas your employees might have to improve your business.

• Plan your marketing for the year. Take a look back at your marketing efforts in 2008. Which ones were hits and which were misses. Remember your successes and learn from your failures in 2009. Think about a comprehensive plan of attack that will drum up business throughout the year. Plan ahead to maximize your efforts.

• Clean house. Out with the old and in with the new. Start the new year in a tidy, well organized office. Take a look inside and outside of your office and do what you can to improve its appearance. Working in clutter can be depressing and reduce productivity. It can also be uninviting to clients.

• Are you up to date? Review your business cards, letterhead, web site and other forms of communication that are available to the public. Is everything up to date? Remember, these pieces of information may be a prospect’s first impression of you. Don’t lose a potential client because the e-mail address on your business card no longer works.

Business Down? Try Offering Your Clients More In these difficult financial times, many producers are looking for new ways to grow their businesses. While the obvious way to expand your business is to draw in more clients, one other option you should consider is expanding the services you offer. With additional services added to your offerings, you can approach your current client base and potentially gain more of their assets under management. In addition, the more you can offer clients and prospects, the more they will regard you as their one-stop shop for all retirement and financial matters. If you are thinking about expanding your business, think about working with an FMO. An FMO can help you get licensed and can provide you with the training to get you up and running with annuities, life insurance and long-term care insurance. They can also give you marketing materials, systems and back-office support to help you succeed with these products. Some FMOs, such as AMS, also own broker/dealers and can support you with all of your securities needs too. With the right partner at your side, your business can grow even during the tough times. Need an FMO? If you’re interested in learning more about working with Asset Marketing Systems and how we can support you as your FMO, visit our web site or just reply to this e-mail, and we’ll get in touch.