Chapter 2
Strategic Business Planning
Defining the Direction
On a trip to Dubai to meet with Pershing clients, Mark took time out to search through the souks in hopes of finding gifts to bring home. Amid the specialized bazaars for gold, spices, and perfume were vendors peddling pashminas, rugs, silver, and souvenir trinkets. Three things struck him as he stopped at each little shop:
1. How alike all of their offerings looked
2. How quickly they were willing to negotiate price
3. How likely they were to position their products as superior without any verification of their claims
The relevance of his observations to the financial advisory profession became apparent. In an environment of market volatility, where clients are recovering from ...
