Category Archives: Practice Management

Business Planning Revisited – 3 Major Components to Address

The mere idea of a business plan can be polarizing. Some business owners live by their business plan while others see it as an unnecessary formal document that is often done once and stuffed in a drawer. As a financial planner, I always encourage my clients to embrace the concept of planning and see it as a tool that helps them achieve their goals and use their resources in the most efficient and effective way possible. Financial planning is a process that does not end with an initial analysis. It is an ongoing process and the plan evolves as our circumstances change and our lives become more complex. I see business planning in a similar way.
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4 Simple Ways to Improve Your Company’s Efficiency

One of the biggest mistakes I see with owners of advisory firms is they do not make the time to invest in operations. By operations, I’m referring to the development core systems, workflows, and infrastructure needed to efficiently provide a consistent level of client service. Failure to focus on operations over time can hinder a firm’s ability to stay profitable.
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Creating a Scalable Service Business Model – Is it Possible?

With most service organizations, time is a commodity and trust, expertise, and relationships are unique value propositions. A major challenge for owners of financial advisory firms is creating a business model that grows in such a way that they spend more time doing what they enjoy most and less time running the business. An effective solution to this challenge is building a scalable business model.
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