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Clearly map out your plan and what results you hope to achieve.Consider planning seminars to gain clients, network with consumer groups or write expert articles for financial publications. Include all upfront expenses that you know you'll incur based on the previous sections of your business plan.Estimate your sales forecast and expenses by creating a financial plan.
The break-even point can be useful for analysing the sales, costs and pricing numbers used in your earlier forecasts and judging whether your business idea is feasible.
For example, if your break-even point is years away, you may want to revisit your numbers to see if there are any opportunities to make your business more profitable.
Following extensive research into the needs of the community, the availability of products and the extent of the competition, narrow down your target market.
Niche financial planners who specialize in small-business owners, baby boomers or singles can narrow the marketing strategies and portfolio offerings easier than a generalist who services anybody.
Things to consider are: This article is intended to provide general information of an educational nature only.
It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice.
Don't forget to include a salary for yourself as well as office start-up costs, advertising and marketing budgets, license fees, industry association dues and every expense related to your business.
Estimate your projected income based on the number of clients you will attract.
Use action words in the objective such as "create," "provide," "build," "serve" and "grow." List all the services you will provide and the companies you will represent.
In the business plan, include all products you will handle such as stock trades, mutual funds, annuities, life insurance and real estate investments.