It’s important for any company, whether it’s just starting out or has been in business for fifty years, to regularly take the time to analyze and ask itself what it is doing right, what it could improve on, and how can it grow moving forward, both from an internal and external perspective. A SWOT (Strengths, Weaknesses, Opportunities & Threats) analysis is a simple yet powerful and honest way to help answer these important questions.

Here is an example SWOT analysis:

Our world, and the financial sector, changes rapidly. As a company, Lone Beacon does its own SWOT analysis about three times per year. As a rule, your advisory should look to complete one at least once a year to stay on top of your business plan and innovate as often as possible. Use it to make a plan and stick to it: No matter how much you strategize, if you can’t execute your plan, it’s worthless.

In addition to SWOT, Lone Beacon often has our advisors complete a sales exercise to figure out the Objective, Scope & Advantage of their business and company plans so that we can best help them realize their goals. For this exercise, we have them briefly explain:

  • Objective – In 35 words or less, advisors tell us their revenue and strategic goals over the next three years
  • Scope – What is your ideal customer profile?
  • Advantage – Why you versus anyone else? This is perhaps the most important

Lone Beacon has a proven track record of helping elite financial advisors gain valuable insights from their SWOT analysis and other valuable sales exercises. We can help you uncover insights to form strategic sales strategies and marketing plans to help close business and grow your firm. To learn how, get in touch with us today.