The Efficient Practice
The August column in Financial Advisor Magazine scored points with readers. to read it,
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The Efficient Practice The August column in Financial Advisor Magazine scored points with readers. to read it, |
The Efficient Practice (Business)To understand how efficiency relates to your business operations, consider the following questions:
Does your overhead expense seem high for your firm, given its size? Is your financial planning (or other services) profitable parts of your practice? Do you find yourself purchasing new software and equipment without considering how well they may integrate with your existing systems? Do you feel like your business is growing out of control or that it is not growing at all? Are you using the most appropriate and efficient business operation systems? Is there new technology and/or operational systems you should know about? Should you be adding new staff and/or qualified representatives? Are you making the best use of your existing staff and/or qualified representatives? Are your office furniture, equipment and arrangements the most efficient for their use? What would happen to your practice in the event you were unable to work for a period of time? Can you retire? Have you hit a 'revenue ceiling' and cannot seem to break above it? If the answer to any of the above questions is yes (or you do not have an answer), you may wish to consider looking at tactical efficiency as an important partner in your overall effectiveness. People strive to be effective. As professionals, you probably spend an inordinate amount of time on developing your skills with your clients and prospects. Precious little time is spent on the more fundamental aspects of your business operations. Your operations need to be efficient in order for you to grow your practice and increase profit. Systems efficiency is where hardware, software, procedures, employees and training all work in concert with each other to produce greater output with less effort. To see an excerpted sample of an evaluation, please click here----> To find out why you should pursue an efficient practice, click here----> To take our Efficiency Challenge, click here----> |
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