A Road Map for Success:
1: Categorise your client base;
2: Appoint quality, competent staff and utilise effective time management;
3: Know your business assets (e.g. plant, machinery, equipment, business names, client details, trademarks, copyright, licences etc.);
4: Create, follow and monitor a business plan.
A Business Plan for:
- The business to sharpen its guiding vision, mission, objectives and policies;
- Determining smarter ways of managing the business (e.g. tax issues);
- Leading to a better co-ordination of effort, promoting better communications;
- Providing definite expectations of performance.
- Encouraging systematic thinking;
- Bringing about a more vivid sense of the responsibilities of the participating people…and in motivating them.
- Reducing the risk of failure – Diversify your investments;
- Resulting in better preparedness for sudden developments/changes and a unique tool for anticipating problems and grasping opportunities.
- Leading to the development of performance standards for control and measurement;
When a business owner dies or becomes critically ill, his/her business may die or be permanently stricken and disabled the same day-not because something wrong was done but because nothing was done! To overcome this problem some sort of business continuation plan can be taken into account.
There are four aspects to a business continuation plan:
1: the correct legal arrangement;
2: the correct funding arrangement;
3: the correct Risk Insurance & Estate Planning arrangement.
4: the correct financial plan (e.g. investment – super, non-super etc) arrangements.
WE ARE HERE TO WORK WITH YOU FOR YOUR FUTURE.
This information is of a general nature only and does not take into account your personal situation. We advise that you seek advice from a professional adviser before making any decisions about a financial product.