We all set New Year’s resolutions: eat better, drink less, exercise more... But when 1 January came around this year, did you make any New Year’s resolutions for your business?
Statistics say only 12 per cent of Australians stick to their resolutions, so I can understand why you might have taken a pass on the tradition. But don’t let a statistic put you off this year.
2014 was a transformative year for our industry. So if you’ve been lagging when it comes to making serious changes in your business, 2015 is the year to refocus.
Here are four resolutions that you should be making – and keeping – in your business this year.
1. I will lead an industrial revolution (in my office).
Is your office full of manila folders spilling out paperwork from the '90s? Are you still unsure what a “hashtag” really is? If you answered yes to one of these, it might be time for a change.
Processes like record keeping, file notes and client file management were highlighted as a cause for concern in the recent ASIC risk report. So why not apply some modern technology to your office.
Similarly, if you haven’t 'gone digital' with a great website and a social media profile yet, it’s time.
2. I will embrace my inner risk professional (and say farewell to the 'insurance salesman').
It’s a moving beast, but the time is coming when the sale of products will no longer drive our industry – the provision of advice will.
I’m not saying soft skills like sales and product know-how are redundant; just that the true risk professional is growing their offer to include more than just risk insurance.
3. I will stop working (at least for long enough to take a good, hard look at my business).
If you can’t seem to find five minutes to think about your business before another meeting is happening or another SOA is being written, you’re not alone.
As financial advisers, you keep the wheels turning and the revenue generating for your business. But now is the time to consider how potential changes to remuneration could impact your future income.
4. I will be a student once again (classroom optional).
Before you (probably reluctantly) reach for the text book, remember that education comes in many forms, not just from the classroom. Being a financial adviser and a business owner can be a lonely game so make a point of committing to your ongoing education by learning from your peers.
So tell me risk professionals of Australia, what will you achieve in 2015?
Craig Parker, Affinia Financial Advisers
The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has refer...
FASEA has announced its August exam sessions will only be offered remotely for V...
A major platform provider has made changes to its functionality to make it easie...