FROM THE BLOG

Strategic plans can create passion just like culture.  In our competitive marketplace, it is crucial to have high-functioning financial professionals that are dedicated; not only to getting the job done, but also doing it within the context of the overall master plan.  It helps to really be clear on what the firm’s goals are and how each person can make an impact on those goals.  There are no “just a’s”.  Everyone plays a role in the success of the firm.

In other words, if you want highly focused performing team members, they must have something wildly important to focus on.  They need a WIG- Wildly Important Goal.

There are 6 things to consider:

1. Each team within the firm should only focus on 1-2 WIGs at a time.  Remember that the team members are already dealing with the whirlwind (the everyday demands) so you don’t want any one member to feel overloaded.
2. The only reason you fight a battle is to win the war.  The sole purpose of WIGs across the firm at all levels is to help the firm achieve the WIGs at the higher level.  The WIGs across departments must not only align back to the overall firm goals, but should ensure the success of them.  It’s the whole point in them.
3. Veto=Yes; Dictate=No.  There will never be buy-in across the firm if the goals are handed down from above and no one has any input.  While the senior leaders set the overall high-level WIGs for the firm, they must allow each individual department to set their own for their team.  This allows everyone to not only leverage the knowledge of these leaders, but also creates a sense of ownership and belonging.
4. All WIGs should be SMART.  Simply put: x to y by when.  “I want to grow annual revenues from new products from 15% to 21% by December 31^st” As simple as this sounds, most leaders really struggle with clarifying their goals into clear concepts such as this.  Once you do, the team is singularly focused on how to get it done.  Specific finish lines are then easily measured to get you to the WIG.
5. WIGs are wildly important for a reason.  At the end of the day, if the WIGs aren’t accomplished, nothing else matters.  This is why you choose only1-2 at a time.  This increases the likelihood of results.  And remember these are the BIG things for the year.
6. They are not called PIGs for a reason. They are not Pretty Important Goals.  They are Wildly Important Goals.  See #5.

By narrowing your focus to the goals that are really important, you are investing and directing your team’s energy into them. All of their strength will go to that.  It’s a strategic planner’s dream come true.

What is your WIG right now?

Until next time,

Posted by Tarah Carlow Senior Vice President, Marketing & Advisor Loyalty