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Make New Year's Resolutions with Intentionality, Not Intention

By David RichmanManaging Director, Advisor Institute

Why is it that the New Year's resolutions we make are rarely achieved? It's because we often make them full of intention, rather than intentionality.

Let's consider how the best advisors use intentionality to set new year resolutions that stick.

Team leaders who participated in our year-end 2023 consult sessions shared common frustrations like: succession plans gone sour, disappointing new household growth, and conversely, too much new household growth.

Those who experienced aggressive new household growth voiced concerns over serious team capacity restraints that were harming the client experience they pride themselves on. Rather than continuing to prioritize new household growth, the team leaders were willing to take stock and look at reality without rationalizing or making excuses. In other words, they were willing to take a hard look at themselves in the mirror. New household growth wouldn't be feasible in 2024 if they wanted to uphold the quality of their team's work and continue serving existing clients to their greatest ability.

These advisors can bring intentionality to the situation by devoting the first half of the year to revamping and reallocating responsibilities across their team, determining tasks they should stop doing before they start doing new ones, or perhaps bringing on new hires.

New Year's resolutions made with intentionality are rooted in purpose and targeted to a specific problem or goal, which makes them far more likely to survive than ones made with intention.

Paraphrasing one of our favorite quotes from former NBA coach Kevin Eastman, "Intentionality is what we do on purpose to fulfill our purpose."

Bottom Line: Bring greater intentionality to your team goal setting this year by choosing to do, or not do, the things that will help achieve your purpose.