1. "A strategy is nothing more than a commitment to a set of coherent, mutually reinforcing policies or behaviors aimed at achieving a specific competitive goal." This quote from the article is something that I found very interesting. I think that it is a really good idea of what a strategy is.
2. I was not able to come across anything from the article that was very confusing. Some parts of the reading I maybe had to read over more than once to see what the author was trying to say, but I felt like I understood what I was reading about.
3. I guess if I had one question for the author it would be about the connecting innovation to strategy section. My question is pretty broad, but it is how important it is to do this in a business and how it helps the business overall.
4. There was nothing that stood out that I thought the author was wrong about. I enjoyed reading this article.
Showing posts with label Week 11. Show all posts
Showing posts with label Week 11. Show all posts
Sunday, March 27, 2016
Week 11: "Amazon Whisper"
The main drivers for my financial advising services revenues
are fees from each client that is helped. There are many different things that
an advisor can do for their client and the fees all very. I guess if something
was to change about my service, it would be the people I target. I think if I
could find a way to market towards the younger population and get them
interested in planning ahead financially that I could open up even more
business in addition to people around 35 years and older. I think that doing
this would increase the effectiveness of certain types of financial plans for
people depending on what they want to do in the future. This is not something
that is found on Amazon because it is a service, but I definitely could see how
the article can help you understand in a service or product sales business.
I feel like targeting younger people would be
able to create a larger network of clients to work with. Also, and maybe more
importantly, it gives me a client potentially for even more future financial
goals in the time I am doing business for them which could lead to a closer
personal connection as well as maybe more money. Wednesday, March 23, 2016
Week 11: My Unfair Advantage
List of 10 resources:
1. Family atmosphere: Many firms say that they have a family atmosphere, but none can really take the amount of time that I will to be more of a friend to the client than anything else. It is really easy to trust your friend to help you with financial situations than it is to hand money to a "businessman".
2. Welcoming office: The office will look like a home versus a traditional business building look to make the clients feel more comfortable.
3. Highly skilled employees: Clients will be able to know that they have very educated and devoted people doing everything they know to reach financial goals with them.
4. "Client comes first" mentality: No other company will take the time to be sure that each person is more than just another client and really take each case seriously.
5. Convenient location: People prefer not traveling long distances, especially for something many would not be excited to do anyways, so if we could make it as convenient for the client as possible over other firms we would have an advantage.
6. Live blog with market updates to educate clients so they know why you may make certain decisions: I cannot think of another firm that would take the time to really educate their clients via blog to keep them up to date easier on what is happening.
7. Often connection to clients: It is very important to keep in contact with you clients so they do not feel forgotten or abandoned. This goes back to the family feel.
8. Events for clients: It is boring always talking about finances with the clients, so I think it would be a good idea to have events to get together and socialize about other things. Again, this ties back into the family feel of my company.
9. Constant education of employees: Education is obviously something very important when dealing with finances, therefore, it is imperative to have continuous education of all employees dealing with clients.
10. Organization Involvement in community: As a family company, it is very important to have the great opportunity to give back to the community. Since advising is to help reach financial goals, why not help the community as a whole reach other types of goals and continue the trend?
My number one resource is my companies family atmosphere. In my other posts, people commented saying how that is not anything different from any other financial advising firm, but I disagree completely. Yes, all firms try to show that they are client first before all, but, it comes down to the root of the actual company culture to really determine if it is a significant difference to sway someone to go to my firm versus another. My values lead me to believe that this resource is what will set me apart in some ways from other firms of the same service. Please feel free in comments to give specific examples of something else that may make my advising service above another.
1. Family atmosphere: Many firms say that they have a family atmosphere, but none can really take the amount of time that I will to be more of a friend to the client than anything else. It is really easy to trust your friend to help you with financial situations than it is to hand money to a "businessman".
2. Welcoming office: The office will look like a home versus a traditional business building look to make the clients feel more comfortable.
3. Highly skilled employees: Clients will be able to know that they have very educated and devoted people doing everything they know to reach financial goals with them.
4. "Client comes first" mentality: No other company will take the time to be sure that each person is more than just another client and really take each case seriously.
5. Convenient location: People prefer not traveling long distances, especially for something many would not be excited to do anyways, so if we could make it as convenient for the client as possible over other firms we would have an advantage.
6. Live blog with market updates to educate clients so they know why you may make certain decisions: I cannot think of another firm that would take the time to really educate their clients via blog to keep them up to date easier on what is happening.
7. Often connection to clients: It is very important to keep in contact with you clients so they do not feel forgotten or abandoned. This goes back to the family feel.
8. Events for clients: It is boring always talking about finances with the clients, so I think it would be a good idea to have events to get together and socialize about other things. Again, this ties back into the family feel of my company.
9. Constant education of employees: Education is obviously something very important when dealing with finances, therefore, it is imperative to have continuous education of all employees dealing with clients.
10. Organization Involvement in community: As a family company, it is very important to have the great opportunity to give back to the community. Since advising is to help reach financial goals, why not help the community as a whole reach other types of goals and continue the trend?
My number one resource is my companies family atmosphere. In my other posts, people commented saying how that is not anything different from any other financial advising firm, but I disagree completely. Yes, all firms try to show that they are client first before all, but, it comes down to the root of the actual company culture to really determine if it is a significant difference to sway someone to go to my firm versus another. My values lead me to believe that this resource is what will set me apart in some ways from other firms of the same service. Please feel free in comments to give specific examples of something else that may make my advising service above another.
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