5 Ways to Create a Smart Growth Strategy for Your Financial and Insurance Practice

By Matthew Paine via Iris.xyz

In the business of financial services and insurance sales, getting bigger does not necessarily mean becoming more successful.

In fact, while so much attention has focused on adding services and employees, some advisors and agents have found that staying small and serving a loyal clientele is a much more satisfying path for them.

As technology has improved, many of these business owners have learned to leverage tools that were once only available to much bigger firms, allowing them to focus on what they do well without adding additional staff (and the personnel nightmares they can bring).

Instead of focusing on growing a small practice into a large firm, there is much to be said for a small firm that can stay small, but act big. This process is not for everyone; it requires the owner to stay disciplined and focused on the customer, not on the pursuit of growth for its own sake.

Here are five ways you can use this approach for “smart growth” that don’t require you to become a mega-practice:

1. Strategic plan

Let’s start with the obvious first step, but the one I believe can be the hardest to implement: developing a strategic plan. This isn’t the technical plan or series of tactics for your business that often are the types of plans many business owners create.

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