Adam Tucker
From their work with some of Australia’s leading financial advice practices, the Beddoes Institute (Beddoes) has discovered that while practices come in all shapes and sizes, the one key driver of success is a disciplined approach to business planning.
Director of Beddoes, Dr Adam Tucker, says there are four pillars which support business planning and advice practices must excel at all of them if they are to succeed in 2015 and beyond.
The four pillars are:
- Strategy and Business Management
- Marketing/Clients
- Infrastructure and Operations
- Human Resources
To help advisers understand how to construct and maintain these pillars, Beddoes has created a free interactive tool which takes only a few minutes to use.
“It’s a simple tool that takes far less time to use compared with other planning tools,” Dr Tucker says. “We are calling it The 10-Minute Business Planner.”
Advisers using The 10-Minute Business Planner will find:
- An interactive business checklist
- A business plan scored and prioritized, ready to download
- A growing list of resources to help implement the plan
Dr Tucker says the results and resources will help advisers manage priorities and allocate resources where they’ll do the most good. “We are seeing effective managers regularly reviewing business fundamentals to identify gaps before they become a problem,” he says. “The tool is designed to quickly and easily identify these gaps and thereby help advisers to address them.”
Beddoes is currently producing a snapshot of the advice sector to share with the broader adviser community early next year.
The 10-Minute Business Planner can be downloaded free of charge here.
