Measure your business progress

• Create visual tracking tools

  The more frequently you track and measure progress, the easier it is to identify gaps. Weekly or biweekly reviews let you quickly assess and adjust your activities as needed. If you don’t have a visual tool for tracking progress, establish one.

  Use charts and/or dashboards in MS Excel. Charting each goal allows you to visually see a graphical representation of where you are in relation to where you would like to be. A dashboard, on the other hand, is an overview of all of your goals in raw data form. You can even include colour codes to represent when you’re on or off your target.

  If after six months of diligent tracking you’re still not making progress, you likely haven’t defined your goals.

• Build a marketing plan

  It’s easy to squander money on testing hit-and-miss approaches to marketing. Use your downtime to revisit your plan for the remainder of the year. Take note of what strategies have been successful. Determine your return on investment. Flag the marketing initiatives that aren’t working and need to be adjusted or eliminated. If marketing isn’t your forte, seek professional help.

  For instance, business-development strategist Sara Gilbert*, owner of Strategist, works virtually with financial professionals all over Canada, helping them reassess and develop a targeted marketing strategy.

• Form strategic partnerships

  Accountants, mortgage advisors, financial coaches, and lawyers can all help you gain new clients. For instance, Demi Karpouzos* of Strategical Coaching Transformational, partners with financial professionals—in person and virtually—helping them build a personalized cash-flow plan.

  In addition, use this time of year to strengthen your relationship with at least 10 Centres Of Influence (COIs). Use the multiplier effect to your advantage—a referral from 10 COIs can translate into 10 new clients; they can give you more referrals.

  In return, you should establish yourself as a COI for others.

• Stay on top of your game

  You should invest at least 5%-to-10% of your annual revenue on training and personal development for both yourself and your staff. Summer is a great time to take some courses, attend seminars or enrol for the fall. Working with a coach might be a good alternative or supplement.

• Never stop prospecting

  While many folks head to the beach in summer, there are others who work.

  Many financial professionals use sporting events and activities to meet and connect with new prospects. Most client-appreciation events are held right before winter, so why not try a BBQ?

  The halfway point to the year presents many opportunities to reboot and re-energize. People still do business in summer, so have fun while working this summer.

*Note: these recommendations are based on experience. The author has no business relationship with these professionals.