Business Development delivers a holistic risk management programme based on the principles of E-Myth Worldwide, which focuses on the development of various aspects of a business. The aim is to build capital value within the business so that it can be used as a saleable asset in the event of the business owner’s planned exit (retirement or early industry exit) or unplanned exit (death or disability).
Our programme is based on international best practice principles and is relevant to businesses of any size (small, medium or large). The programme is current, personalised and adapted for the South African financial services industry - specifically for Masthead members.
Our Business Development Advisors focus on results, whether it takes the form of more time, increased profit, increased productivity, expanded employee skills or improved overall morale. Most significantly, we ensure the sustainability of your business for future successors.
Compliance is about following sound processes within the business; Business Development is about transforming sound processes into exceptional processes that are delivered at the highest standard by every employee time after time.
The programme includes the following essential business areas:
- Leadership (strategic planning)
- Marketing; including Lead Generation (creating qualified income opportunities through targeted marketing and prospecting activities ) and Lead Conversion (converting income opportunities into actual income through an effective sales process)
- Finance (safeguarding the lifeblood of the business - cashflow)
- Management (building efficient systems to run the business, and developing effective people to manage those systems)
Client fulfillment (increasing client loyalty and retention by extending the client experience beyond the transactional relationship)
We start the process by conducting a Business Development Assessment, which immediately highlights opportunities for development within the business. Using the results in this report, you are able to select focus areas based on your business’s unique needs and priorities.
On completion of the business assessment (and with greater insight into areas of development opportunities), you have the option of selecting the level of support you believe will best suit your business and your time: you can choose the level of support you require from the options below:
Face to face consulting – with a Business Development Advisor trained to share best business principles, explore implementation options, and provide insight into the results achieved in more than 1 500 FSPs across South Africa.
Seminars – with a practical approach. Business Development Advisors present integrated best practice principles in a forum designed to stimulate knowledge-sharing among you and your industry colleagues, and support your development of tailor-made solutions most suitable to your business. This means that when you leave, you are able to implement your uniquely designed strategies and processes directly into your business… immediately.
Below are the topics that we cover:
- Business planning – You leave the seminar with quantifiable goals documented in your unique business plan
- Effective marketing – Your leave the seminar with greater insight into the cost of sales and service within your business. You will also have documented a unique and meaningful client segmentation model
- Effective income strategies – You will leave the seminar with greater insight into your past selling behaviours, and the income strategies best suited to your business and your chosen market
- Advisor charging – You leave the seminar with a documented service offering designed to increase the perception of value that your clients have of your business services. Furthermore, you will have costed and valued those services and the impact of transitioning to a more sustainable income model should you ever decide to do so.
- Succession planning – You leave the seminar with a documented succession strategy and greater insight into the impact of your planned or unplanned exit from the business or industry.
- Exceptional assistant – this seminar is delivered in three phases:
Foundation (building role competencies) - building personal and inter-personal skills to increase the impact that support staff have in a business Intermediary (building business efficiencies) - building broader business skills to increase the participation that support staff have in building the business
Advanced (building advisory effectiveness) - building specialised advisory support skills to increase the value that support staff bring to the financial planning experience
Business Development understands the challenges faced by independent financial advisors and Masthead’s Business Development Advisors are trained and equipped to provide the support you need to convert these challenges into opportunities.
Contact your regional Masthead Office for more information on how to harness the full potential of your business and your people!