Business be nimble: the importance of staying on your toesBlog added by Bob Wilgus on January 20, 2014
Bob Wilgus

Bob Wilgus

Tampa, FL

Joined: September 16, 2013

My Company


Did you see that 60 Minutes report on Amazon’s plans to use drones to deliver customer orders? This is a just one example of how mega-companies like Amazon continue their quest to steal market share from their competitors.

The same thing is happening in the financial services industry, both online and off. The big insurance companies, broker-dealers and FMOs are using their vast resources to attract new prospects and steal your best clients.

Because of this, you need to become more nimble in how you compete, from a price, customer service, and marketing standpoint. This includes identifying true differences and showcasing these points in marketing and branding, as well as delivering personalized experiences to your prospects and clients alike.

So now you’re asking yourself, "How do I become more nimble?"

The answer is: Conduct an audit on how you do business. Ask yourself a series of questions, like:
  • How do I prospect for new clients?
  • How do I communicate to my clients on a regular basis?
  • What does my company website say about my firm, and does it truly reflect my core business values?
  • Does it help separate me from competitors?
  • How does my staff answer the phone, and do I have written policies on how to respond to client calls, letters and emails?"
Look for ways to simplify, streamline, update, clarify and improve each process — with a special focus on prospecting. The key to reaching your goals (and being more nimble) is making sure you have a written and funded plan to generate a consistent flow of new prospects. Sales cure almost all business ills, so don’t be afraid to test new (and time-tested) prospecting methods.

This exercise can be a challenge because most of us have become very set in our ways, and let's be honest, change can be scary. But keep this in mind; becoming more nimble in your business is nothing more than challenging yourself and your staff to always strive for excellence and improvement.

As I close this post, I’m reminded about a “life law” that was shared with me by one of the most successful financial advisors in the country, Sid Friedman. I hired him to speak at a national sales meeting. He opened his speech with this statement: “If it is to be, it’s up to me.” That statement highlights the importance of taking initiative to become more nimble in your business and marketing practices. In today’s fast-paced and highly competitive industry, you can’t afford to be passive.

See also:

Adapt or die: 6 ways advisors can prepare for the next generation of clients

Prospecting: How I avoided becoming one of the dreaded 90 percent
The views expressed here are those of the author and not necessarily those of ProducersWEB.
Reprinting or reposting this article without prior consent of is strictly prohibited.
If you have questions, please visit our terms and conditions
Post Blog