Richard Whitworth: December 17, 2019

New Year’s Resolutions for Small Business Owners

Expert Outlook for Advisors and Trends in the Current Small Business Climate

Richard Whitworth, AIF® 

Head of Business Consulting, Cetera Financial Group


While we’re still experiencing the longest-running bull market in history, at some point there will inevitably be an economic slowdown. Small Businesses—especially financial advisors–can prepare for this eventuality by ensuring they have flexibility in their business plans to weather any downtown.  The end of the year is also a good time to revisit business goals and priorities.  Business owners in all industries should take advantage of the seasonal slowdown by prioritizing business planning & goal setting.  As year-end is a time of self-reflection, business owners can apply that same introspection to their firms — review their progress to business goals, confirm the metrics applied to those goals are still valid, and then forecast how the final year-end numbers should come in.


Did you know?

  • All business owners should have both a personal continuity/succession plan as well as a business continuity plan in place, in case the principal/owner/operator has a tragic accident or if there’s a short/medium-term disruption in the business due to natural disasters.
  • SBOs should more importantly communicate those plans to your people to help ease any concerns they may have.
  • Firms that do not have a healthy digital presence that’s actively managed & monitored risk missing business development opportunities as well as potential negative customer feedback that needs to be resolved before going ‘viral.’
  • Businesses should hire for growth.  Drive capacity within the organization by forward hiring (versus backfilling rolls as growth occurs)

On Tuesday December 17th, Richard Whitworth, Managing Director, Business Consulting for Cetera Investment Management is available to give some New Years Resolution tips and provide insight on how to develop a business plan by utilizing key resources that are available. He can also offer advice on succession and business continuity planning for the coming New Year.


For more information, please


More About Richard Whitworth

As Managing Director of Cetera Financial Group’s Business Consulting organization, Mr. Whitworth manages a team of business consultants and subject matter experts, providing the strategic and tactical framework to assist the team in reaching its goal of helping Cetera’s financial advisors with their advice‐centric growth and productivity objectives through the industry award‐winning Pentameter® process.  He received his Bachelor of Science in Finance from the University of Delaware with minors in Spanish, Economics and International Business, and holds an International MBA with Honors from IE Business School in Madrid, Spain.


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