Most advisers are awash in opportunity. A good idea comes down the pike about once a week—new markets, new services, new people, and so on. Some people in this business probably waste more money on new initiatives than they make on managing their business right. The most common initiatives are special marketing efforts and hiring new people to open up a new market or to offer a new service.
For either one, you need to define your expectations of return. Think of it in these terms: When you help manage your clients’ performance expectations on their investments, you usually have to temper their enthusiasm with a conversation about the risk/return relationship.
In your business, you must ask the same question: What is a reasonable return on my investment for these new initiatives, and when should the returns be realized? The amount of the return will vary, but you should attempt to calculate how much business you would need to do to generate both a return on the investment and a reasonable return for the risk you’re taking.
Rules of thumb are always questionable, but it’s generally a good idea in a service business to establish a time horizon of eighteen to twenty-four months within which you’ll begin realizing a return. That horizon is relatively short, but the length is dictated by the nature of these investments, which are often geared to producing a return in a short time. So it’s best to keep your expectations in line with that hope.
Business Management for Financial Advisers Related Interview Questions
|Financial Planning Interview Questions||Financial Reporting and Analysis Interview Questions|
|Financial Management Interview Questions||Accounts and Finance for Managers Interview Questions|
|Financial Accounting&Financial Statement Analysis Interview Questions||Business Finance Interview Questions|
|Financial Services Marketing Interview Questions||Corporate Finance Interview Questions|
|Financial Analyst Interview Questions||Financial Advisor Interview Questions|
Business Management for Financial Advisers Related Practice Tests
|Financial Planning Practice Tests||Financial Reporting and Analysis Practice Tests|
|Financial Management Practice Tests||Accounts and Finance for Managers Practice Tests|
|Financial Accounting&Financial Statement Analysis Practice Tests||Business Finance Practice Tests|
|Financial Services Marketing Practice Tests|
Business Management For Financial Advisers Tutorial
The Financial Advisory Business
Defining The Business
The Value Of Surveys
The Challenge Of Growth
Human Capital: The Fulcrum Of Strategy
The Care And Preening Of Staff: Professional Development
The Payoff For The Firm: Compensation Planning
The Tools That Count: Financial Management
The Other Dirty Words
Referrals And Joint Ventures: The Search For Solutions
All rights reserved © 2018 Wisdom IT Services India Pvt. Ltd
Wisdomjobs.com is one of the best job search sites in India.