Financial planning businesses should conduct a health check of how they are tracking as they approach the end of the calendar year, according to Macquarie Practice Consulting, a Macquarie Bank business.
Referencing the results of its Financial Planning Benchmarking Survey, Macquarie Practice Consulting is arguing that implementation of business plans represents a key attribute of good business management.
Commenting on the issue this week, Macquarie Practice Consulting associate director Fiona MacKenzie said the idea of a spring clean in the closing three months of the year made good business sense.
?Many businesses put a focus on planning and making sure they have their plans in place at the beginning of each new financial year, but they don?t always put such a focus on conducting regular health checks throughout the rest of the year,? she claimed.
McKenzie said it was a ?basic business hygiene factor? to regularly check how a business was tracking against its business plan and to ensure it is capable of achieving the goals that had been set.
?Before businesses get into the busy festive season, it makes sense to check in and make sure you are on the right path,? she said.
?If you?re not, now is the time to make the changes required to help you get there.?
Source: http://www.moneymanagement.com.au/product-news/2012/macquarie-practice-consulting-s-fiona-mckenzie
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