Hot business tip number 16: Set up a Google account

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Most of us use some type of Google product everyday – whether it be their market leading search engine, watching a video on YouTube (Google owned) or finding our way with Google maps. Whilst each of these services can be used ‘anonymously’, increasingly there are major benefits in actually creating your own Google account, allowing […]

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Hot business tip number 15: Create stronger referral sources

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Without exception, leading advisers are adept at creating deep, suitable and profitable relationships with key referral partners. Whilst this can be a complex area, there are seven key principles which can greatly increase the ability of advisers to cultivate active and prosperous relationships with a range of other professionals. Respect – demonstrate respect for your […]

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Hot business tip number 14: Get better at handling objections

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An objection is simply a client telling you they are uncertain and looking for more information to validate their decision. The key to dealing with objections is to listen carefully and say “I understand” (everyone wants to be understood!) When responding to your client, make sure you use their own words back to them. For […]

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Hot business tip number 13: Go social

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Social media continues to grow in importance as a communication channel, driven by the widespread use of mobile devices and the ease with which content can be created and shared. And contrary to popular belief, social media usage continues to grow strongly across all age groups. 2014 is likely to see us reach that tipping […]

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Hot business tip number 12: Build your emotional intelligence

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Research[1] into the clients of leading Australian advice practices found what really matters to them – and what sets leading ‘trusted’ advisers apart – is their emotional intelligence (EQ). Technical expertise and qualifications are now seen as hygiene factors and what really stands out in the minds of clients are the more ‘soft skills’ of their adviser: […]

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“3″ Is The Key For Effective Client Presentations

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3 is the magic presentation number. It is a well established principle that people absorb information best when it is presented in 3 points…and while listing your best 3 features or benefits is more effective than listing your top 10 to most consumers, applying a bit of structure to the 3 points is even more […]

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Hot business tip no. 11: Run a program where staff drive improvements

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Getting your staff involved in driving continual improvement within your business is a win-win; often they are closer to many aspects of the business operations than you and so are better placed to identify areas of inefficiency. Just as important however is the galvanising and motivating effect this can have both on individual staff – who feel more empowered – and […]

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Hot business tip no. 10: Develop a client retention strategy

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Acquiring a new client can be between 5 and 10 times more costly than retaining an existing one, meaning a retention strategy should be an essential part of your business plan. Any successful retention strategy is likely to have two components – an understanding of which clients leave, and when and why, and  initiatives to […]

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Hot business tip number 9: Set up a Board of Advice

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Typically, more than 80% of shortlisted practices in the Adviser of the Year Award use a Board of Advice (BoA). But whilst the objectives of establishing a BoA are generally consistent-revolving around transparency, accountability and business guidance-there are several schools of thought on the ideal structure. The’ best practice’ approach is where you fill your […]

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Hot business tip number 8: Create a differentiated service offering (segment your client base)

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The pareto principle – aka the 80/20 rule – is a universal truth; the majority of your profit is derived from a subset of your total client base. Despite this there is a temptation–especially for relatively new practices – to try and be all things to all people. Providing a homogeneous level of service to […]

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