Protecting Your Practice

All things considered, what would you say is the single greatest, most potentially DEVASTATING risk to your business?

In most cases, it doesn’t have anything to do with the common risks such as one of your prospecting funnels failing, a competitor down the street, or increased regulation.  Many times the biggest potential risk, which would create the most damage in your business, is often overlooked.

Find out what it is AND how to easily put it to bed forever in this week’s video below…


Below are three simple tasks you can immediately take action on to help ensure your firm is always prepared for whatever may come your way.

1. Spend 10-15 minutes as a team in your next weekly staff meeting simply jotting down the most common business functions that take place in your office. This should encompass everything from the different types of marketing you’re doing and the way phones are answered through the way client records are entered into your database and how all new business is processed. (NOTE: Do not try to detail every step of each of these common business functions during this meeting. Simply jot down what the most common functions are.)

2. Over the next two weeks, assign the task of documenting every step in each of these common functions to the primary completer of those related functions. For example, ask that your receptionist document every step of how the phones are handled. Ask that your administrative assistant document every step of processing a new application (with a list of resources they use), and so on. Have these steps compiled into a 3-ring binder which can then function as your company’s go-to operations manual.

If you’d like to see a complete sample of an OPERATIONS MANUAL from another producer, please email me back.

3. Then, by year’s end, assign the cross-training of all tasks amongst various members of your team, ensuring that at least two members of the team are fully capable of performing any given task. This will help prevent any future scrambles in which the primary task completer should happen to be out of the office when a given task needs to be completed.

52 Sparks is provided for informational purposes only.  Results from the use of these concepts are no guarantee of future success.

AE11154328 – For financial professional use only.