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Financial Business

How to Run a Financial Business

It’s always good practice to assess your operational strategies regularly to see how you can improve your service and turnover.

If you own a financial business, you will probably be looking to forge strong relationships with your clients. You should also be able to successfully manage a team and create a positive work environment.

You will need to be able to plan the journey of your business from start to finish and even have an idea of what your exit strategy will be. If all this seems daunting, don’t fret, as we have put together some advice for you. Read on to discover how to easily run your financial business!

Your clients

The relationship you have with your clients is one of the most valuable assets you have in your financial business. Whether you’re an accountant that manages small independents or an auditor for larger companies, you will need to form strong connections with your clientele.

Be transparent and open, establishing trust is essential to be successful in this sector. If you encounter any operational issues, inform your clients and offer the best possible solution. If you try to hide an issue, you could lose the client’s trust and, consequently, their business.

your clients

The better you are at listening to a client, the deeper your connection will become. Ask questions about their plans and make notes in meetings. You should return missed calls, messages and emails as quickly as possible to make your clients feel they can rely on you.

Prove that you’re on the ball and adaptable. Your client’s financial and personal situation will evolve as their business develops; book a reset meeting to discuss up-to-date plans and objectives so you can offer the best possible service for your client’s current position.

Your team

Training and managing an efficient team involves a lot of skill; teaching an employee how to problem-solve for themselves is much more effective than telling your staff what to do. This, however, takes time, patience and know-how. Adjust your management style to each employee.

If you’re struggling to get the best out of your staff, attend a management course or seminar; if you can’t take time off, tune into a webinar or podcasts. If you don’t have the funds for this, fear not, the government offers free webinars, online events and live small business workshops.

training your team

Create a positive work environment for your team. You should be compassionate and flexible with staff who need to work from home and host social office events that will bring your team closer together. The better you treat your team, the lower your staff turnover rate will be.

Exit strategy

If you have a clear vision of your targets, you can aim with more accuracy. You may not plan to retire or sell your business soon, but you should always have an exit strategy in place to establish your own aspirations and values and plan out the best way to achieve these goals.

As a business owner, it’s important to look at the bigger picture rather than focusing on small details. Having an exit strategy will help you make informed decisions; projecting a lifespan for the business and knowing how you plan to leave will affect the choices you make today.

exit strategy

It’s good practice to update your exit strategy regularly as your personal circumstances will change over time. Market conditions and trends will also affect the value of your business, you should keep an eye on current sector trends and how they impact a seller’s asking price.

Your skills

To run a financial business successfully you need to be highly motivated, disciplined and organised. You will be filing tax returns and important documentation for many clients; thorough planning is key to manage your workload efficiently and meet filing deadlines. 

Make sure your staff are organised; hold weekly meetings to discuss their work progress. If an employee is struggling to manage their workload, have a one-to-one meeting on how they can improve their time management going forward; be approachable and offer guidance.

You should keep up to date with any industry-specific licensing laws and regulations the local government makes. Consider writing a news blog on your website to keep your clients informed with any relevant regulation changes and offer advice to budding entrepreneurs.

There are plenty of accounting apps and software that will streamline your operations, reduce your training and ramp-up costs and help you run your business more efficiently. You should compare what packages and providers suits your needs and are within your budget.

Krystena Griffin

About the author

Krystena Griffin writes for all titles in the Dynamis stable including, and as well as other industry publications.


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