This article brings light to the various work educational programs and their effectiveness in growing your company of financial planning. As many people are aware, many times a company's growth is beyond the simple increase in their net worth. This article allows one to evaluate an inside look on how a company can grow through the use of different educational techniques.
http://libproxy.uhcl.edu:5255/docview/867684730
The first technique evaluated is the two-hour seminars. This particular technique seemed to have little benefits and an extensive list of drawbacks. Overall, the main benefit was the ability to speak to several people in one sitting, some of these people being top management. They also observed existing customers increasing their faithfulness to the business.
The next educational route for a company to go would be the articles and online help. This tends to come off not as personable as the two hour seminar but could also be seen as more reasonable for those who don’t have two hours straight to train. Another downfall in my opinion would be the fact that they could not ask nor could they receive direct feedback from the instructor and teacher. When discussed in this article you see the possible pitfalls and plusses of an online help system.
The last technique is the word of mouth and a discount
technique. This technique was seen as the most time efficient and seemed the
most personable. The difficulty falls within the new planner with few clientele
categories, for clear reasons. If a planner has a small amount of customers to
refer their planning services, it is clearly difficult for one to receive more
clientele on the basis of referrals.
Overall, this article was clear and concise on the possible
education for financial planners and the educations effectiveness in growing a
business. One must continually be looking for opportunities to expand and grow.
With a planners continued efforts and workplace education, one should see equal
results within their business.
Smirnova, Natalia
.Journal of Financial Planning, suppl. 20 WAYS TO AMP UP YOUR BUSINESS TODAY (May/Jun 2011): 9-11.
.Journal of Financial Planning, suppl. 20 WAYS TO AMP UP YOUR BUSINESS TODAY (May/Jun 2011): 9-11.
Just based on your post about the article, it seems that the article lacked detail and instruction on growing a financial planner type of business. I think your post needed more depth and substance.
ReplyDeleteIf I was to grow my own financial planner business, I would start with friends and family. Try to get some of them on board, and make sure I asked them for referrals. Word of mouth would be the best way to get going. Having a seminar or website, would be something I would consider way down the road once I had established good clientele.
Yeah, I totally agree with you.
ReplyDeleteI have worked at my own business in the past. Word of mouth is priceless when it comes to building a business. Having a seminar even for a financial planner seems way outsides the bounds of building business. I would think a seminar would be more appropriate for new offerings and what is the next good thing that is coming from your company.
ReplyDeleteAllen thanks for your critique. I think that I agree with sralphuhcl, word of mouth is an effective way to build your business. I also think that seminars may seem less appropriate but the average person might not know what a financial planner entails. This would be a great opportunity for a financial planner to offer a general idea of what they could do for potential clients. I think that the MOST effective way to become established as a financial planner would be to utilize all the tips given in this article.
ReplyDeleteFrom reading your post I see that companies could profit from using all of these techniques. It would depend at what stage of growth the company is at and what they expect to get out of the educational program.
ReplyDeleteThanks Martha, I completely agree that it does depend on the stage the company is at. Also, for some reason my name was not on the blog post but instead the author of the article's name was on it. I just wanted to make sure it was clear that I did write this blog entry.
ReplyDeleteIf I understand the article it was research done on growing your company through education. It seems like the right idea. If your employees are trained and can get the job done effectively and efficiently then cost go down, profits go up and you attract more business through happy customer. (word of mouth as stated above). However it doesn't seem that the research produced any good answer to the problem of how to get the people educated.
ReplyDelete