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Stay Productive: Change the Way You Think About To-Do Lists

Have you ever gotten to the end of a busy workday and you think, “What did I even accomplish today?” You know you did a lot but you’re unsure if you made progress in the key areas of your business. This is common for many advisers.

To increase our productivity at work, we need to change the way we organize our most important tasks (see this Streamline My Practice blog post on the secret to planner productivity). What most advisers do is create a to-do list. But there are three problems with these lists that have caused high performers to find a better way.

Problem No. 1: To-do lists continue to grow as the day goes on. To-do lists quickly become an unending wish list of things we hope to get done. It becomes another burden in our already stressful life.

We have more to do than what can be done and we are guaranteed to have multiple fires show up every day. When those fires happen, we are going to focus on the urgent, rather than the important. Adding these things to our lists adds the extra mental stress of knowing that we won’t be able to accomplish it all.

Problem No. 2: We want to check of the shortest item on our list. It’s proven that people get a good feeling from checking something off on a to-do list. Our brain is getting a little shot of dopamine every time we do this. Checking more things off our list makes us feel better. We are prone to finding and accomplishing first the easiest things on our list, rather than tackling the big, most important projects.

Problem No. 3: To-do lists do not identify length of time for a project. Some of our highest value activities can be listed as one to-do item, which might take 90 minutes to complete. Looking at a to-do list will give us no idea how much time we should be budgeting to accomplish these things.Thankfully, there is something you can start doing today that will greatly increase your productivity.

Live from Your Calendar

Top advisers and other high performers don’t use to-do lists. Rather they focus all their energy on their calendar. If they want to accomplish something, they schedule it. They live from their calendar.

Using the calendar approach will free your mind. One of the best things about using your calendar as your project manager is that you will never have to have the feeling of wondering what you did all day. By starting the day looking at your calendar, you’ll know exactly what you need to do. You’ll be able to accomplish the most important thing you have on your list at the right time.

Here are a few helpful tips to test out this method of using the calendar:

  1. Schedule in chunks.
  • When do you do your best work? When are you most focused? If it’s early in the morning, then it makes sense to schedule time for your high-focus actions in the morning. Blocking all else out during that chunk will help you focus.
  • When do you enjoy talking to clients the most?
  • Think about what’s most important in your life: exercise, family, work, etc. Make sure time for these things is blocked off.
  1. Plan ahead.
  1. Reschedule when something gets in the way.
  • When a true emergency “fire” eventually does get in the way of one of your calendared tasks, reschedule the task for another time or day.

Take the next step and try using your calendar this week to schedule your most important tasks. At the end of the week, reflect to see if you got more done.

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Dave Zoller
Financial Adviser
Streamline My Practice
Warrenville, IL


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3 Critical Practice Management Areas That Demand Attention

The industry has changed and it is more important than ever to have a plan, not merely to survive, but indeed to thrive in today’s environment. Creating a simple road map can be the difference between growth and stagnation.

At a minimum, we believe that you should consider these three critical questions, commit your ideas to paper and create an implementation plan with time frames and accountability.

1.) How will you drive retention?
Client retention is the foundation for the long-term viability of your firm. You must consistently deliver the appropriate client experience for each of your client segments.

  • Communication: Do you have a systematized client communication plan? Are you communicating value with the right frequency and maximizing your delivery mediums? Are you offering educational opportunities to help clients better understand their plan and the financial terrain?
  • Appreciation: Do your clients know that you appreciate them? Do you need to go beyond birthdays and holidays and deliver more creative or personalized appreciation?
  • Expectations: Do you really know if you are meeting, falling short, or exceeding client expectations? Do you execute surveys or offer service commitment or expectation meetings to review the value of your deliverables? Do clients understand the totality of your offerings?

2.) How will you drive efficiency?
In an increasingly complex industry with expanding requirements, efficiency and scalability are critical to long-term success.

  • People: Are roles and responsibilities clearly defined and aligned? Are you leveraging your talent?
  • Systems: Are all repeated activities systematized? Do you have standard operating procedures documented in a shared folder for all to access? Is your business scalable?
  • Time and technology: Do you really know where and with whom you are spending your most precious resource—time? Technology can be a time-drain or a time-saver. Is every team member maximizing technological resources?

3.) How will you drive growth?
We could all fill our days by simply dealing with the reactive; however, high-performance financial planners stay committed to growth.

  • Organic growth: Do clients consider YOU their primary advice provider? Have you fully served them? Are you developing multiple generational relationships? Where can you leverage your existing relationships?
  • Introductions: Are you referable? Do your clients proactively provide qualified introductions? How robust are your centers of influence? Are you delivering value to partners who have the propensity to connect you with ideal prospects?
  • Marketing: How strong is your brand identity? Who is your niche audience and how can you attract more ideal prospects through off-line and online marketing avenues? Based on your demographics, what type of marketing (advertising, seminars, mail campaigns or event marketing) makes sense for your practice?
  • Expand the team: For firms that are fully systematized but at capacity, you may consider bringing on new advisers/planners as your most vital growth strategy. Be sure to consider your “ideal” candidate and conduct full due diligence so as not to upset the culture of the firm.

What decisions will you make and what actions will you take to drive retention, efficiency and growth in 2017?

Sarah E. Dale, President of Know No Bounds, LLC

 

Sarah E. Dale
Partner
Performance Insights
Atlanta, Ga.

krista_sm

 

Krista S. Sheets
President
Performance Insights
Atlanta, Ga.