11 Easy Steps to Develop Your Strategic Growth Plan in 30 Days

Graph demonstrates upward business growth.

Are you looking to grow your asset management firm? You may have problems with new client acquisition, branding, messaging, digital and content marketing, public relations, and more.

Here’s a year-end challenge: create a strategic growth plan in 30 days. We’ve built an 11-step checklist to help you meet this challenge. You can tackle the issues simultaneously or choose two or three to focus on each week. Some may not be relevant for your firm. But at the end of 30 days, you’ll have a roadmap for long-term growth.

1. Learn From the Past

From a business perspective, do you know what you have done well and not so well in the past?

The first step to growth is to know what worked in the past. Understanding your strengths and weaknesses can give you a competitive advantage as you develop your 30-day growth strategy.

2. Know Your Brand

Is your brand message unique and differentiated?

As a asset manager, you must clearly understand your strategic value and what differentiates you from larger competitors. Self-awareness is critical. Your entire firm should believe in your identity, whatever it is. Don’t try to compete directly with larger organizations with greater resources. Develop a niche if you haven’t done so already. For example, you can dominate a key product niche and provide personalized experience and operational excellence. Pick your lane and stick to it.

3. Tell Your Story Consistently

Is your story consistent?

Your executives and portfolio managers, along with your sales, marketing, and operations teams should always tell the same story to everyone. It should be the same in one-on-one and group client and prospect conversations, and on your website, pitch book, reports, social media, and social settings. Consistency is critical. Some of our clients have trumpeted their disciplined 5-step investment process in conversations. But their website and LinkedIn account highlighted their rigorous 4-step process. Don’t let this be you.

4. Look the Part of a Serious Investment Firm

Does your marketing and sales effort appear equal to or better than larger, more well-funded asset managers?

To be a serious asset manager, you should look the part. Your sales team should identify, know, and engage with your highest-value clients. Your website, marketing materials, social media, and shareholder communications must be distinctive, professional, informative, and timely.

5. Create Great Content

Are you serious about creating great content?

Your content must be educational and informative, timely and consistent. Growing asset managers use their website as the hub of marketing activities. Great content creates credibility and interest. Thought leadership articles, pitch books, videos, webcasts, quizzes, and social media, among other tools, help differentiate you and create interest.

6. Leverage Digital Technology to Maximize Lead Generation

Does technology support sales and marketing?

Technology can be your friend. It’s more than a Customer Relationship Management (CRM) system. Digital automation can amplify your message and reach, via your website, LinkedIn, Facebook, X, newsletters, and emails, a much larger and more targeted audience than your sales team can reach individually.

7. Develop and Maintain Credibility with Public Relations

Do you get your name and story out through the news media and conferences?

Providing informative and distinctive takes in news articles, contributing bylined articles, and speaking at relevant industry events are optimal ways to raise your stature. They can also increase your visibility and credibility. So is speaking at or leading discussions at industry conferences.

8. Focus on Client Retention

Do you keep your clients?

Keeping clients is as critical as finding new ones. Digital technology can help. With technology, you can automatically track your investor’s digital engagement. You’ll know if a client has stopped engaging online. You could then personally chat with them to discover issues and potentially find solutions. Customer pain points are often related to service, performance, and communication issues. Without the technology, you may lose the client.

9. Grow Through Merger or Acquisition

Have you considered growth through M&A?

Many firms we work with have a tough time attracting new investors. A merger or acquisition can help deepen and complement your sales team, client services, product line, and management group. An M&A growth strategy can help you focus on your strengths and interests. Many asset managers, for example, prefer to manage money and want others to focus on sales, distribution, marketing, or accounting.

10. Diversify

Is it time for you to develop new strategies that can meet investor demand and help diversify your business?

Strategic diversification issues can be market, sales, and product-oriented. What new sales distribution channels should you be in? Should you expand into the RIA, wirehouse, family office, or institutional market? Should you launch a new fund in an investment category with great sales trends where you have expertise? Should you find a new partner to distribute your investment services?

11. Prioritize Resources

How can your often-limited resources in time and money be used to maximize growth?

You don’t have to do everything on this list to grow revenue and assets. Some steps may not apply to you. Identify your priorities. You may want to execute your plan in several phases to better accommodate resources.

Are you ready to take the 30-day challenge to greater growth? You are no more than 11 steps away.

Schedule a complimentary strategy session to gain fresh insights and start charting a course for growth.

Dan Sondhelm is the CEO of Sondhelm Partners. He works with boutique asset managers to help them raise AUM, stand out in crowded markets, and spark more meaningful conversations with prospects.

Frank Serebrin is the Content Marketing Director for Sondhelm Partners. He leads strategic and creative content and marketing services for our asset management and wealth management clients.