The following tips can help make your business more efficient and profitable:
- Standardize your processes as much as possible so your staff can work more efficiently. Remember, exceptions cost more money!
- Limit investments and suppliers. Develop a good working relationship with the suppliers you do use because they can offer solutions to issues that arise.
- Systematically convert your 10% free shares and DSC-free units. B2B Bank Dealer Services can help with our TMF Spreadsheet trading service.
- Sweep your accounts for cash on a regular basis. Many investments generate cash that can be reinvested.
- Explore other ways to develop your business and value proposition, such as offering group plans, IPPs, insurance, and tax and estate planning.
- Seek and retain clients that complement your work and personality style. As your business evolves, some clients may no longer fit with your direction or goals.
- Use a nominee platform to increase efficiency and add to the value of your business. A nominee platform is easily transferred, clients are accustomed to the fees, and the accounts are easy to administer.