We are continually challenged by the processes of operating our everyday businesses, as the business environment surrounding us changes constantly. In a number of my reports in 2015, I urged members to consider their future business models.
We know that technology, the ATO automation activities, the regulatory environment that surrounds financial services, and other disruptors will influence what we do in the future. With this background in mind, there is no better time to consider your future business and the great opportunities to diversify and grow.
The IPA is forever considering the types of partners and offerings that may support not just the existing but also the future needs of our members. Recently, for example, NAB introduced a special member offer around a mortgage solution product.
The NAB offering is designed to create a genuine win-win proposition for all those that can adopt the product. It provides an excellent value-add for members to offer those clients in need of such a solution and supports member business and income diversification.
And, of course, we have our financial services partners that can help you across the full spectrum of licensing and referral options, designed to ensure your clients’needs are catered for while providing you with increased opportunity to service that market.
When looking at future business models, I encourage members to consider what the IPA partner product and service range can offer. If you want to diversify and grow new income streams or new relationships, then consider what IPA’s partners can offer.
Sometimes when considering diversification, we must face the fear of the unknown. There are questions we can expect to arise. How do I do that? How will this affect my clients? How am I assured of the results I desire?
As trusted advisers to your clients, you can test their responses. You are in the best position to identify and understand their needs. Talk to our partners and ask them questions about any areas of uncertainty. Finally, attend the relevant CPE events, particularly the State and National congresses, where many of these partners present or exhibit.
All in all, the ever-changing environment in which we live and operate is an exciting place, which is full of opportunities. Let’s embrace them.
