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If your financial planning business is going to benefit from the rebound when it comes, now is the time to be ensuring that you have the right business foundations in place. You’ll want to have addressed these three areas if your business is to benefit……..

1. Before drilling down and getting specific with your Business Plan, have you taken a high-level view of your business and considered how you are going in all critical areas? That is, an honest reflection/analysis of what areas are functioning well and what areas may be preventing you from achieving the results you’re after. Continuing to do things the way you’ve always done them won’t get you a better result than what you’ve achieved in the past.

Our research has repeatedly demonstrated that there are 20 areas that ensure the success of progressive financial planning businesses who all have a process to ensure that each of these areas has been thoroughly tested and reviewed. It all begins with Vision and Business Planning. We’ve all heard the adage ‘if you fail to plan, then you plan to fail’ and that if you aren’t clear on your objectives, then any road will get you there.

2. How do you build a business plan that has meaning, that won’t be put away in a drawer and lives and breathes and is motivational for all key stakeholders?

  • Have you engaged all stakeholders?
  • What questions do you need to ask them and yourself?
  • What are the 5 major objectives for your business next year, in three years, in five years?
  • What is the single priority that each person in your team needs to achieve in the next 90 days in order for your objectives to be achieved in 2013? What about the following 90 days and the 90 days after that?

3. As a financial planner, you’re no doubt convinced of the value in having an independent, third-party adviser (you) to work with your clients to achieve their most important financial objectives.

In fact, seeking expert support is key to the successful achievement of any worthwhile goal. Hence professional sports people have coaches (and lots of them!), musicians have teachers, significant fitness objectives mean a personal trainer and major companies appoint directors, advisers and consultants.

Who do you work with to achieve the business goals that are important to you?

  • What specifically have they been appointed to do?
  • How are you (and they) tracking toward achieving those objectives?
  • What skills are needed in your business to ensure that your objectives are achieved?

As we get back into the swing of business-as-usual after the Christmas break, if you haven’t looked at these issues yet it’s not too late. Get serious about working on your business before you get caught up back in your business, so you can take advantage of all that 2013 has to offer.

If you have been contemplating engaging a business coach but haven’t yet taken the plunge – or you’ve been thinking about replacing your existing coach with an Elixir coach, 2013 could be your year! Did you know that you can engage us to come in and analyse your business? We’ll explore what’s currently happening in your company, provide you with a customised Business Success Wheel™ and provide our expert opinion on where you could gain significant improvements.

It’s a great way to get some clarity around where you should best focus your attention. It’s also an excellent opportunity to test the waters to see if you think you could work with our coach, before diving into a full annual commitment. Contact us today to find out more.