It’s August, and the NBA playoff season is in full swing. It’s a little later than anticipated, but it’s finally here. I’ve been waiting impatiently, and I’m beyond excited that it’s finally here. So, what does the NBA have to do with financial planning? I’m glad you asked.

Just like any successful franchise or business, the NBA has established a process. Think about successful college teams and coaches. They follow the same basic steps for each practice and each game. But they’re also not afraid to adapt.

Think about your clients. Although their individual paths might be different, the ultimate goal for all of your clients is to plan for a secure retirement. And you can follow the same basic process with each client to get them headed toward that goal.

A key point to remember is that having a process doesn’t mean abandoning creativity.

It starts with a different way of thinking and acting when it comes to retirement and planning – for both you and your clients. Our Income Alpha approach is one way to change that behavior. This strategy uses a variety of different products and services to achieve results with a higher probability of success.

It’s easy to look at a process and think “If I do the same exact thing for each of my clients, I’ll become stagnant. I’ll get into a rut.” But even with a process, you need to be prepared to adjust for individual clients. Having a process allows you to be creative and provide solutions that apply to the uniqueness of each situation.

I was a student basketball manager under the legendary coach Bob Knight in 1987 when we won the national championship. To achieve that goal, we played several different teams that were very physical — very athletic—and that did not really match our strength. These teams forced us to think differently about our strategy. They force us to adapt. And so, each week, we had to plan differently for those 80 minutes of game time. The team we faced in the national championship was great at rebounding. We had prepared differently, but the process of preparation was the same. We adapted, but we didn’t throw the process away. We used it as the catalyst for our next victory.

That process and preparation are just as important in financial planning as they are in basketball. They are vital elements when transforming your business to a High Performing Practice. You need to establish a process that your clients are comfortable with and that makes you easy to refer to the next person. This will speed up the process and give you time to look creatively at appropriate solutions for each individual client. Process is just the actual fundamental aspects of how you conduct your client engagements. If you follow that process and make it repeatable, you will take your business to the next level. And soon you will look back and see that you’ve built a High Performing Practice.

Transformational Tactic

Use a repeatable process to grow your practice and attract referrals. You’ll save time, allowing you to customize solutions for individual clients.

Recognize the opportunity to transform your business by taking our free course.

Share this Post!

Start your transformation

We define what has stopped you from reaching the level you want to achieve and then help you move past it.

Schedule a Call