Profit
02 Nov The dangers of a Cost to Serve analysis
I wrote an article recently for Risk Adviser magazine, that I have recreated here for our subscribers. There are some significant changes afoot to the last bastion of advice commissions, and we’re getting a little concerned that advisers are being lulled into a false sense of preparedness by well-meaning, albeit inexperienced supporters. I’ve been very vocal in sharing our view that this does not mean the end for insurance advice, and that we may see an even stronger demand for professional risk advice, but I’ve also not sugar-coated it. Any adviser who currently receives up-front or hybrid commissions, be they risk-focused or provide risk in a broader proposition will find it challenging to make the changes necessary in their business. It will, however, be well worth it - as our experience shows us that the type of thought process and change required will have a dramatic impact on a range of areas of their business, not the least of which, their bottom line. Here is what was published in Risk Adviser…..
02 Nov Some handy tools to help start preparing for the future of risk advice
We've been busy these past few months, starting to work with advisers on how to handle the proposed Life Insurance Framework when it gets implemented. Two weeks after receiving confirmation that the new government is supporting the industry-proposed new Frameworks, I thought it might be helpful to share a few free resources we've developed.
01 Jun Are you achieving the success you’d like from your business right now?
"The first step toward success is taken when you refuse to be a captive of the environment in which you first find yourself."[/caption] Running an advice business can be a tough gig at the best of times. Right now, you’re contending with legislative change, media perpetuating consumer...
27 May Feeling challenged by your business? You’re not alone!
Ever get that feeling that you're run off your feet and you're not convinced that the rewards you're getting from your business are worth it all? There are so many great ideas you hear, and you see other advisers that look so successful, but you don't have time to stop and think about how you can tweak your business strategy to do things differently. It probably frustrates you to hear statements from people like us about how our clients have tripled their revenue in three years, or they've doubled their net profit in one year, or they're spending more time with their kids and less at the office?
20 Jan Where do top businesses spend their money?
When it comes to your overheads, business owners often ask us what percentage of their turnover should be spent on marketing? Or premises? Or—gulp—on business coaching?
The most annoying answer to the turnover question is always “it depends,” and it really does depend, right?
Well, yes, but as I studied some compelling benchmarking data recently, I came across some really interesting findings that helped put those turnover questions into perspective.