The Planner's Planning

Morrow, Edwin P.
February 1996
Journal of Financial Planning;Feb1996, Vol. 9 Issue 1, p76
Academic Journal
The article focuses over a planner's planning. If one's practice is to flourish, the most powerful tool is the preparation of a formal business plan and continuous review of the plan. As a qualified professional, one could prepare his/her own plan with spreadsheets and word-processed text. However, it is always better to obtain expert advice. One source might be Andrew Batchelor's VenrureTrac, a spreadsheet software and business planning manual which can make the process of developing financial projections an easy one. Strategic planning for a financial planning firm involves four elements, which dictate the differences between firms, and the corresponding differences between how each firm plans for profitability: philosophy of the practitioners, planning process they wish to follow, products they intend to sell or service and a Personnel required based on the operations style. If one's plan requires attention, he/she should probably find the best way to do this is to spend one hour a week, and then go on to business.


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