We’ve already heard more new year’s resolutions than we care to count. Largely its about fitness, good health and family-which we adore. And then there is work…..what should we do with this one, wild, amazing 2020 business year? Historians will tell you it is not likely to be the ‘roaring 20s’ all over again, and we certainly would not want it to be. What we know for sure is that the year brings some exciting opportunities-and challenges:
- Continued market dislocation with major consultant, program and platform consolidation.
- Ongoing movement towards lower fee/no fee and continued push away from active management (which typically means its the time when we should all run towards it:-).
- Constant drum beat of content, marketing, do this-not that, how to change your life in 3 easy steps….you know the endless assault of technology based communications.
- Political unrest. Need we say more…
- A new decade, with all of its hopes and dreams and the knowledge that the markets just keep moving, and growing, and affording opportunities for those willing to do the hard work of investing.
Given all this activity, how can we make 2020 amazing? Here are our top tips for an impactful year:
- Get down to business; with so much news and content coming at us, it is easy to be distracted. Define the firm’s top 10 list for the year and focus on it-exclusively.
- Affirm the firm’s positioning; take the time to complete a prospect’s review of how the firm ‘looks’ to the outside world. Take a tour through the firm’s website and receive and evaluate the firm’s most recent set of collateral as if you were a prospect. Listen in to your team’s ‘pitch’ silently. Would you buy the firm’s offerings today? If yes, what highlights were most compelling and were they sufficiently promoted?
- Do something different; the definition of insanity, per Albert Einstein, is “doing the same thing over and over again, but expecting different results”. Change it up, mix it up, try something new. Add a new presenter, market brief, framework for discussing your process. Join an association, attend some events and get out in the market. Make 2020 new again for your business and your team.
