5 Steps To Building Your LTCi Business Plan

5 Steps To Building Your LTCi Business Plan

Developing a plan for an entire year can be a daunting task.  With so many days ahead of you, it’s easy to get sidetracked and let a few months of inactivity slip and sabotage your success.  It’s time to take a more disciplined approach.

Stay Motivated All Year

Be sure to write down your business plan and place it where you’ll see it each day.  Also set up a repeating calendar entry each week to review the plan and the work you’ve done to achieve it.

“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” ― Abraham Lincoln

Start small and focus on building a plan with measurable and achievable goals.

Set Goals
  • Be Realistic – It may sound great if your goal is to increase your Long-Term Care (LTC) Insurance business, but you might be setting yourself up for failure.  Instead commit to making LTC Insurance more fully integrated into your business.
  • Make Them Measurable – Numbers don’t lie, so use them to make yourself accountable.  Pinpoint a certain number of applications you’d like to write, client meetings you’d like to host, or referrals you’d like to gain.
Create A Plan
  • Develop A Strategy – Now that your goals are in place, how will you reach them?  Create actionable items to focus on throughout the year.  Maybe it’s simply making LTC Insurance a part of every financial planning discussion you have or it’s committing to hosting quarterly education seminars in your community.
  • Target Completion Dates – Having monthly or quarterly milestones are a great way to track success, and provides you with ample time to plan ahead.
Take Action
  • Get Motivated – Your business plan may seem foolproof, but won’t work if you don’t put it into action.  Begin each day with a task to help you meet a specific goal.  You’ll build momentum to keep you focused and productive.
  • Commit To Your Plan – You’ve positioned yourself for success and have taken the time to establish specific goals, strategies, and deadlines.  Stick to your plan and give it a chance to work
Track Results
  • Self-Evaluate – Are you ahead of your goals or are you falling behind?  Regularly reviewing your progress will provide you with direction on how to focus going forward.
  • Make Adjustments – You may find that one approach works, and another does not.  Being flexible will allow you to change strategies to achieve overall success.

We’re here to help – reach out to our Long-Term Care Associate for assistance with your planning.