Futuro Forum | Bowral 2012 Murray Burns – My Business

Partners in Investment and Growth Futuro Financial Services ABN AFSL Murray Burns

Partners in investment and growth Starting Point Had ended previous JV arrangement with small ongoing client base Started to work from home office Income about $7500 p.m. expected $95,000 in revenue for year

Partners in investment and growth Objectives Grow business via reviews, foster 2 accounting relationships, start mortgage broking line of income, US home broker needing insurance for clients. Maintain lifestyle of swimming program, 2 months working from QLD, 4.5 day work week. Next financial year objective is $195,000

Partners in investment and growth Impediments Poor time management Spending time on doing SOA's, getting review data organised, dealing with administration and follow up of new or changes to risk policies and investments. Lack of communication with current client base and clients not knowing what can be done for them. Unsure of FOFA impact. Finding it difficult to ask for true pricing of own value.

Partners in investment and growth Took Action Recognised needed help & started monthly meeting with PK Completed analysis of business which included all previous points.

Partners in investment and growth Action Item Client baseAllocation of Time OfferConnectiveSoftware Get Client base in order. Analysed time spend during work periods. Defined offer with 1 page. Started to refer clients to Connective. Understand own value but still finalising pricing model. Result: calls to say hello; b-day s; simple information sent easily; Result: regimented with set times for s; follow ups; marketing, personal goals focusing on being efficient. Engaging Astute Wheel for positioning with referrals. Limited success due to client issue not relationship with Connective. Starting to use DRAFT which is making SOA writing easier but did not need to put in effort to make it work. Outcome: Clients are responding well. Engaged a virtual assistant for admin tasks and reviews. Will keep XPLAN as roll into new system with a view to improve efficiency of admin further.

Partners in investment and growth Currently Working On Finish pricing model Timing map for all reviews Implement Astute Wheel Have meetings with accountant to push forward with JV's doing monthly reports concentrating on financial expectations, activity kpi's to track performance.

Partners in investment and growth Financial Performance End of financial year gross revenue in excess of $140,000 an increase of 47% on expected. Not had a month below $8500 since started process

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