The kids are back in school, the weather is getting cooler and football is back. It's time to admit to ourselves that the year is quickly coming to an end.
In reality, we have just under three months of productivity left in 2018 - because we all know that the period between T-Day and New Years is pretty unproductive (admit it!).
Now is the perfect time to start preparing your clients and your business for year-end and for 2019. Sit down with clients to:
- Recap year-to-date performance
- Make any adjustments to their asset allocation based on market action and any changes to their goals
- Strategize for year-end tax loss harvesting
- Review if they expect any life changes in 2019
- Confirm withholdiings in light of the new tax law
And of course, every meeting is an opportunity to thank clients for their business and to ask for referrals.
Turning to your business, now if the perfect time to meet with your staff to review:
- Did we meet our financial goals for the year?
- Did we each meet our personal goals for the year?
- Did we meet expectations this year?
- What can we do to improve our business in 2019?
I have purposely not used the word "Business Plan" because 1) many people just don't do them; 2) the words seem to scare people; and 3) people get sick and tired of people such as myself bugging them to create one.
But whether formalized into a document or not, the type of self assessment and reflection mentioned above will do not nothing but make your business stronger moving forward.
So use the next few months to help your clients and your business, and end the year on a high note. Please give us a call if you need some help.