There’s a reason why people say, “culture eats strategy for breakfast”.
“Culture is everything”, according to Peter Sheahan, innovative business thinker and thought-leader. Whether you realize it or not, your firm’s culture is what allows you to grow.
Between expanding your business model, adopting new technology or finding a successor, regardless of what the catalyst is for change, these are huge milestones that can disrupt your culture. Often for the better. But for many, change can be scary. So, for financial professionals who want to grow, how does change factor into your strategy?
The question isn’t about how, but why. On episode 9 of The Big Picture Advisor, Sheahan discusses why “the why” often gets lost in our blueprints for growth.
“It’s more about the disruption,” he says. “If the outside is changing faster than you are, then you are becoming less relevant.”
Sheahan explains that it isn’t so much about doing more work, or not willing to see the big picture. For financial professionals, it tends to be that we forget as business owners what we care about today might not be what we, our partners, or our future successors are going to care about tomorrow. The “why” gets lost.
To help financial professionals understand why embracing change can help to accelerate growth, Sheahan shares the most common and highly effective traits of those who have found success:
- They are incredibly clear that they’re building a business, not a practice.
- They have discipline around the segments they serve. They’re transparent on who they serve and what value they bring.
- They’re highly sophisticated in that value, and they create systems and processes to serve those segments to the highest degree.
- They know their business model intimately and how to produce consistent results while utilizing great talent.
- They back themselves to do it.
For more tips and to listen to the complete episode, listen below.
Episode 9 – From the desk of: Peter Sheahan, innovative business thinker and thought-leader
Accelerate growth by embracing change
5 aspiring traits for financial professionals