assessment of partner capabilities

Assessment of Sales Channel

Partner Capabilities

Gregg Taragos Phd

www.org-designs.com

http://www.org-designs.com/



Gregg Taragos Ph.D. Org-designs.com

Principles to Build

Successful Partnerships

Present Straw Models

Link Objectives To Results

Business Driver

Analysis

Available Resources

Joint Funding

•

Guide

Developmental Efforts

Implement

Measurable

Performance

Solutions

Track and

Recognize

Continuous

Improvement

Steering Teams

Process Mapping

Training

Certification

•

Assess Channel

Strategy and

Capabilities

Align

People

Programs

Resources

Assess Partner Capability

Dashboards and Measures

R0I

Recognition Strategies

Performance Improvement

Measure and

Illustrate Results

Impacting

Performance

Program

Assessment

Competency

Assessment

Isolate sales behaviors that

drive high performance


Which behaviors have the most significant and immediate impact on performance ?

Gather Data

Conduct Risk

Assessment

Define Working

Relationship

Develop Short List of

Investments

Develop

Investment

Strategies and

Product Choices

Develop Client

Investment

Recommendations

Present Strategies &

Products to Client

Act on Market

Information

Review Client

Situation &

Portfolio

Maintain Visibility

Build Rapport and

Relationship

Build Ongoing Planning

Relationship


Assess competencies

Create

Competency

Model

Collect Key

Measures

Conduct

Behavioral

Assessment

Business

Driver

Analysis

Talent

Management

Communication

Training

Recognition

Measurement

Assess

and Align


Asses sales competencies

1. What sales competencies have the most impact

on business results?

• Can we isolate behaviors – that if changed – have an immediate

and direct effect on performance ?

• How can we ensure we are allocating resources towards programs

• that will make a difference


Assess competencies

Create

Competency

Model

Focus group with

top performers

Primary

emphasis: What

they do

Secondary

emphasis: What

they know

Collect Key

Measures

What measures are we trying to change

Collect performance snapshot

Conduct

Behavioral

Assessment

Assess

importance

and

performance

Identify

current and

future gaps

Business

Driver

Analysis

Statistical analysis

Identifies which

competencies

drive measures

That Identifies

which

competencies

drive other

competencies

Talent Management

• Segmentation

• Selection

• Performance mgt.

Develop competency

based tools to

improve performance

• Communication

• Training

• Recognition

• Measurement

Assess

and Align

Sales Force Competencies and

Behaviors



Conduct a Business Driver Analysis

Process: 1. Determine high performance business measures

2. Collect current measures for each individual

3. Map impact of competencies and behaviors on key performance measures

Build Rapport and

Relationship

Gather Data

Conduct Risk

Assessment

Define Working

Relationship

Develop Short List

of Investments

Develop Investment

Strategies and

Product Choices

Develop Client Investment

Recommendations


Products to Client

Enhance Professional

Knowledge

Act on Market

Information

Review Client

Situation & Portfolio

Build On-going Planning

Relationship

Maintain

Visibility

Length of Service

Total Number of

Clients

Performance

Measure

Total Number

of Plans

-.12

-.11

.54

.49

.18.38

.70

.17

.19

-.08

.53

.23

Isolate the critical behaviors with significant

and immediate business impact


Map competencies and performance

Build Rapport and

Relationship

Gather Data

Conduct Risk

Assessment

Define Working

Relationship

Develop Short List of

Investments

Develop Investment

Strategies and

Product Choices

Develop Client Investment

Recommendations


Products to Client

Enhance Professional

Knowledge

Act on Market

Information

Review Client

Situation & Portfolio

Build On-going Planning

Relationship

Maintain

Visibility

Length of Service

Total Number of

Clients

Performance

Measure

Total

Number

of Plans

-.12

-.11

.54

.49

.18 .38

.20

.17

.19

.08

.53

.23

10

Identify competency gaps by segment

LOS 1 - 2 LOS 3 - 5 LOS 6 - 9 LOS 10 +

Sco

re 0

-9

Sco

re 1

0-19

S

core

20-

51

Sco

re 5

1 +

Score

Elite Producers

Profile: Elite producers are successful advisors who have built a large client base based on ongoing

planning relationships. On average, they produce more plans per year than the number of new clients

they acquire, most likely because they have ongoing retainer relationships with their existing clients.

Needs: Elite Recognition Program, continuous reinvention of their practice, succession planning,

advanced technology support, spiffs or discounted rates based on performance.

High Potential Advisors

Profile: On average, high potential advisors acquire more clients per year

than the number of financial plans they do per year. They need to focus on

deepening relationships by doing new/refreshed plans with existing clients

as well as acquiring more new clients.

Needs: Client Service Model training, Retainer Relationship training,

marketing seminars, Financial Planning Network, ongoing annual plans,

ONE, acquisition spending as part of business plan.

Rising Stars

Profile: Rising Stars acquire a lot of clients and do a lot of planning early in their career. They need to

continue deepening their relationships with their existing clients as well as as continue to acquire more

clients.

Needs: Rising Star Recognition Program, Retainer Relationship training, marketing seminars, staff hiring

and training support, customized local marketing programs, insurance, training, ongoing advice, AFA.

New Advisors Showing Potential

Profile: New advisors need to focus on acquiring new clients through planning.

Needs: Leads, marketing seminars, mentoring program, additional support from the home office for their

first 1-2 years in P2. Infrastructure support, business planning, esp. marketing component.

Low Profile Advisors

Profile: These advisors have no systematic client acquisition activity and are essentially living off their

existing client base.

Needs: Succession planning, AFA promotion.


Develop Sales Tools

Develop

Targeted

Tools

Talent

Management

Communication

Training

Recognition

Measurement

Assess

and Align

Business

Driver

Analysis


Align business strategy with

training and development program

Gregg Taragos Phd

[email protected]

www.org-designs.com

mailto:[email protected]






assessment of partner capabilities

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