A trusted business partner, Eddy Ricci, Founding Partner of Pontem Professional Partners in New York, recently highlighted a read for every advisor with growth in mind.
In Trey Taylor's A CEO Only Does Three Things, he outlines the three points of a successful framework: culture, people, and numbers.
Culture sets the overall vision and strategy of the firm and communicates it to any relevant stakeholders.
People focuses on making sure the right systems, criteria, and culture are in place to recruit, attract, hire, and retain the best talent for the company. Those with aligned beliefs, values, and behaviors—not just relevant experience and knowledge.
Numbers means not only ensuring adequate liquidity and driving profitability but also finding ways to engage the entire organization as financial stakeholders in the firm’s success.
This simple framework can serve as a great reflective tool for advisors looking to grow their firms. If you want to see if your firm follows Taylor's structure you can ask yourself the following:
Do you have a clear vision of the culture you’re looking to build?
Does your team reflect, embody, share in, and consistently make that vision the reality?
Does each person on your team know what they can do to impact financial outcomes?
For any gaps identified in the questions above, what is the path to make a change, who can help execute, and on what timeline?
Christy Charise, Founder & CEO of Strategic Advisor