08 Feb BY Sue Viskovic How are you feeling after the Royal Commission Announcements?
If you’re only reading news articles and social media commentary because you don’t have time to read the full 530 pages of Mr Hayne’s report from the Royal Commission, you’re not alone…
But this may be adding unnecessary stress, causing you to worry about things without knowing the full picture (or staying blissfully unaware of a freight train that’s looming just out of your field of vision).
It’s a common complaint we hear from advisers…
They feel constantly pressed for time because servicing their clients and keeping up with growing compliance requirements are increasing the time and the cost of delivering advice.
When you deliver great advice, there’s no shortage of clients to help – and so it feels like you’re in a compounding cycle…you’re spending more and more time working in your business, and then you feel like you have no time left to work on your business.
I’m sure the irony of that is not lost on you.
Rather than staying in the dark, or only grabbing snippets of info when you can, here’s a recommendation.
Go straight to the Government’s response to the RC report so that you can avoid wasting energy on some of the suggestions that don’t look like they’ll get implemented just yet (especially if you’re pressed for time – 42 pages is a lot easier to manage!)
Of course, we still need to wait and see what will get legislated, but it’s important to get clarity on what is likely to impact the way you run your business.
You can then start making some smart decisions about strategies you can employ to future-proof your business. And when you have a plan and start implementing it, it’s amazing how your stress levels drop – even before you’ve finished the plan.
Knowing that you’re taking active steps to evolve your business is incredibly empowering, even before you see the final result!
If you’re not confident about the future of your business, it’s likely that the root cause is that your business is operating on best practices of the past, and you may have been too busy servicing your clients to realise just how quickly the environment has changed.
It’s not too late to act and get more comfort for your future.
In fact, now is absolutely the time you need to act.
If you’re feeling under the pump right now, you need to improve the way your business operates in order to free up some of your capacity. Then you’ll have some space to prep for your FASEA exam and undertake additional studies if you need to.
However, if you fail to improve how your business operates, you’re going to be in for a bumpy ride.
If you’d like to learn more about exactly how to do this reach out and chat with one of our Consultants. We can either assist you privately in your business, or if you prefer lower-cost support in a group environment, lock down one of the places in our February Business Evolution Blitz program as soon as you can!