Implementing winning moves

Implementing change well is a key attribute of leading practices and leaders. ‘Winning moves’ have an important role to play in success.

According to The Strategy Institute’s Steve Browning, if a practice has done the work in preparing for choice and identifying winning moves, focus is now the key.

“Picking one or two things from the list of winning moves will change the dial significantly. If you nail that sucker, it is going to give you every opportunity to advance.”

Speaking at a HUB24 Webinar titled ‘Managed portfolios: Your business’s next strategic winning move’, Browning warned HUB24’s Head of Managed Portfolios Brett Mennie how creating a successful practice can become undone. Browning reasoned it can happen when a practice does not quite understand its strategy or vision and so when practice leaders look at the list of winning moves, they don’t know where to start.

“You need a winning move everyone can get behind. Whilst the business is doing other things as well, nothing takes priority over the winning move.”

Stakeholder buy-in is critical, particularly amongst staff who must understand the roles they are playing and how they are contributing to the goal.

“When everyone is on the same dance floor, it makes it easier to deliver.”

Third parties are also critical to implementing change. If the change is the introduction of managed portfolios, practice leaders need to consider the importance of the third party in implementing the winning move.

But change can be challenging.

“Most people love change as long as it doesn’t happen to them,” added Browning.

Communicating change is an important aspect of implementation, particularly with those clients you have identified as key in the  ‘where to play’ space for your business.

Implementing a winning move requires understanding:

1. A clear north star or future state
2. What are the five choices that guide the strategy? 
3. What capabilities are needed to deliver on the how-to wins?
4. What management systems do you need?

Browning advises practice leaders to have a series of winning moves, but to be able to identify if the business can execute and implement excellently. This capability to execute and implement will change the business for the better.

Did you miss our webinar?

In this must-see session for business owners or advice partners, strategy and business coach Steve Browning takes participants through a framework of strategic choice-making to grow a sustainably profitable advice business, with managed portfolios being a key winning move. Drawing on experience inside and outside the advice industry, Steve will showcase how to position your business for long-term success, delivering both benefits to your business and your clients. 0.75 CPD points available.

Watch the webinar here.

Complete CPD quiz.