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Think, Plan, Commit, Act Futuro Conference – Adelaide 2013 Presented by: Julia Skull 17 th September 2013. Why create a business plan?. Surprisingly, only 57% of financial planning practices have a clearly documented business plan*
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* Business Health – Future Ready IV Report 2012
One Page Business Plan
1. Setting your vision & Goals
What distinguishes the highly successful advisers from the rest of the market?
“A powerful business tool that can be used to motivate, unify and inspire”
Your Referral Partners
Your Potential Successors
When its clear a vision is like a light house that pulls and guides you and your team continuously towards your strategic objectives.
Why is your vision statement important?
Steps to creating your vision
The vision based business plan
Develop SMART Goals and Objectives
Examples of SMART Goals
Improve business efficiencies by increasing profit per employee by 10% by June 2014
To achieve sustainable profit growth of 20% by June 2014.
Increase revenue generated by new business from 20% to 25% by December 2014.
To acquire an average of 2 new ideal clients (revenue of $5K+) per month in 2013
Goals & Objectives
What are your SMART Goals in the:
2. Your Financials
Expenses - understanding your costs
Monitor & Review
Allow some flexibility when your budget is wrong
3. Growth strategies
Conduct an analysis:
b) Your Referral Networks
c) Strategic marketing planning
Remember to always consider your vision & your goals
4. Advice delivery model
To stay ahead of competitors and improve efficiencies its important to review each and every year your:
a) Segmentation method
Advice Model – Things to think about
5. Resources and operations
6. Other strategic plans
To achieve your vision and meet your goals and objectives, growing organically may not be the only strategy to consider.
You may need to consider other growth plans such as:
Other strategic plans – things to think about
Developing the business plan
8. Monitor and review
Consider a business mentor or coach:
“The general who wins the battle makes many calculations in his temple before the battle is fought.
The general who loses makes but few calculations beforehand.”
Chinese Military General, Strategist and Philosopher 400BC
The Art of War