As we rapidly approach the end of the year, this is a time for many for personal and professional reflection. It’s also the time when principals and executives of firms reevaluate their business relationships and why we see so much business movement between Q4 and Q1. Let’s discuss why this happens, what you need to know about it, and what you can do to win more relationships moving forward. Here are three factors that will determine if you’ll win or lose your business relationships.

#1: Results

It might be stating the obvious, but when we’re discussing the customer journey, it’s a critical factor. What will the scoreboard say at the end of the year? You need to ask yourself where your growth came from. Was it grown organically from existing clients or was it from a set of new prospects from your niche marketing that worked effectively? You have clients that measure the results you provide them at the end of each month, or each quarter, and you should be measuring and drilling down on your own growth metrics as well.

#2: Expectations

Did you set goals and key performance indicators (KPI’s) to be held jointly accountable, for you, your firm, and your clients at the beginning of the year? Holding yourself accountable to a number is significantly easier than being judged later by how much someone “feels” they should have grown.

#3: Value

In what tangible ways did you provide value over the last year? That question should be asked from the principal advisor all the way down to every person in your office. What are you doing each day to build your brand and to increase client retention and satisfaction? Can you quantify and list those value-adds? How did your efforts help them achieve their goals or grow aggressively? What will you bring to the table next year to help continue that growth?

What should you do next?

Think about how you will further define the value proposition and differentiation between you and your competitors. Come up with an actionable strategy that addresses your client’s needs. Know your client’s numbers: Know what goals they want to achieve, show them how your strategy will get them to their number, and be accountable and transparent on your progress and the results.

You need a trusted partner in the game, whether in-house or external, that can help you see all the different puzzle pieces and help craft a plan to manage the customer journey all along the way. If you don’t have that, click the contact button below and we’ll share some pointers to help you get started.