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Brokers who want to build their businesses and grow their volumes over the coming financial year should start building a business plan now.
Speaking to The Adviser, Loan Market’s Mark De Martino said business plans can help brokers develop and strengthen their businesses, and with the new financial year just around the corner, there isn’t a better time to get a plan in place.
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“Now is a good time for brokers to sit down and look at what they achieved over the last financial year,” Mr De Martino said.
“Is there anything they would like to do better? Would they like to write more volumes, or have more staff? Whatever your goals are, it is a good idea to jot them down in a business plan.”
Mr De Martino says many brokers don’t write up a business plan because they find the process confronting and time consuming. To avoid this, he said, the trick is to create a 90-day plan that brokers can action immediately.
“A business plan doesn’t have to be incredibly detailed. If you want to achieve something in the next three months, note it down and then work at making that happen,” he said.
“If you have a plan, you are more likely to achieve your goals and there really is no better time that the beginning of a new financial year to start planning.”
