Showing evidence of multiple revenue streams in your financial advisor business plan presents a more sound investment to potential investors and a safer risk to potential lenders. Any business which depends entirely on the work of the founder is, by its very nature, high-risk. If that founder should become sick or unable to work, there is generally no succession plan in such a company.

Advisor Revenue Streams

Advisors can charge fees in a number of ways. The manner that most clients would prefer is for fees to be performance-based, paying the financial advisor only when their investments and holdings increase in value. Of course, few financial advisors would agree to such a fee structure, as holdings will almost inevitably decrease in value during a market downturn. A second best model for clients, and better model for advisors, is to charge a fee that is a percentage of assets under management. If assets increase in value the advisor is rewarded with a higher fee. If the value would drop, the revenue to the advisor would decrease, but not become zero. This represents that, even in bad market times, an advisor can potentially be doing better for a client than he would be doing without the help.

When clients do not have significant assets or are interested in testing out the expertise of working with an advisor, the best fee structure might be an hourly rate for consultations. This is preferable for the advisor, and leaves it up to the client to decide if he or she got the expected value out of the conversations and advice given. Offering an hourly rate as well as an asset-based fee expands the market of who you can work with as an advisor.

Other Revenue Streams

Revenue streams for your business could be from a number of other sources. They could be from the sale of products you have created, such as reports, guides, worksheets, and programs to help clients, from the proceeds from seminars or webinars to multiple clients and potential clients, or from commissions on the sale of insurance or other financial products.

Notice that with each additional revenue stream that is added, there is potential for a conflict of interest. For example, if you seek to sell a certain report, you may have the incentive to withhold the information in it from advisory sessions with clients you work with. Whether or not you do so, there is the appearance that it might be in your interest. Also, if you receive commissions from certain financial products, clients may feel you will encourage them to buy those products even if it is not in their best interest, reducing the value of the advice you give in their minds. You have to be careful to uphold your reputation as a trusted advisor at all costs, and recognize the difficulties in adding potentially conflicting revenue streams.

An increasing number of women are starting small businesses.

The number of small businesses that are starting up with women at the helm is growing and 30% of business owners in the UK are women (Labour Force Survey 2003). The reasons women decide to start their own business vary, with most reporting that they want to be their own boss, choose their working hours and enjoy better work life balance.

However for many of these women the reality of running a small business does not live up to their expectations; it is difficult to fulfill their dreams for their business and they become disillusioned and overwhelmed with the ongoing struggle of running a small business alongside their other roles in life – mother, partner, friend, daughter, chef, chauffeur, socialite – the list goes on!

One area that has been identified as a significant factor limiting the success of women in business is a lack of business planning.

Many women entrepreneurs and small business owners fail to set aside the time to develop (and regularly re-visit) their business vision and strategy. As the old quote goes, ‘if you fail to plan, you plan to fail’. It is generally agreed that if you want your small business to succeed, you have a much greater chance if you have a clear vision and an action plan for bringing that vision about.

So what stops women who are starting a small business from developing an inspired and effective business plan?

After all, we know that we should have a business plan but despite the best of intentions to succeed in our business, many of us don’t! Why is this? What is it that stops us sitting down and writing a clear plan and strategy for our business, especially when we know that we are more likely to succeed if we do it?

We believe it is partly because writing a business plan is boring! Let’s face it, it feels like a chore so we don’t do it. We may get the resources together that we need, we may even get part of the way through writing it, but it is the rare few that actually complete a comprehensive business plan outlining a clear vision, strategy and action plan for their business. Often, we are chomping at the bit to get our product or service out into the world and figure we can simply skip the boring planning bit altogether right? We can certainly relate to this feeling because we struggled with business planning in the early days – we gave it a try but never seemed to get further than a few pages in!

It is our view that traditional models of business planning do not cater for women in business!

We believe that traditional models of business planning and strategizing don’t recognise that women in business have a life outside of work – that they have a partner, friends and family to think about and are not prepared to compromise on health and relationships to have a successful and profitable business. Women today want the best of both worlds; we think it is possible and that they deserve to have it!

Conventional business planning and management approaches are grounded in the belief that work and personal life should be kept separate, a task impossible for most women today. This makes it very difficult for them to create and sustain a business that acknowledges their business ambition AND empowers them to bring about great relationships and a healthy and balanced lifestyle for themselves and their loved ones.

So how can business planning be tailored to meet the needs of women in business?

Whether you are starting out in business or you are well-established, we encourage you to prioritise business planning in order to ensure a strategic approach to business growth and success.

• Set aside the time and space to make this happen in your business now.
• Acknowledge that traditional models of business planning may be a great starting point, but that they may not address your needs as a business woman who also values health, relationships and having a life outside of work.
• Think outside the square and discover ways to plan your business that relieve stress rather than increase it. Look for tools that empower you to bring all aspects of yourself to the planning process – personal and professional – because the reality is that for women in business the two are intertwined and to be successful in one you must pay attention and care for the other!
• Get creative in your approach – both to the process of business planning and also to the way you can incorporate the other aspects of your life into your successful business strategy.
• Take action to implement your strategy so that it comes to life for you.
• Commit to re-visiting with your business plan on an ongoing basis to ensure.

Business planning is vital to the success of your business, and can also encompass all the aspects of your life.

You do not have to sacrifice your health and relationships to be a successful business owner and entrepreneur. Take action now and plan for your success in business and in life.

Every business plan book tells you how the Executive Summary is your opportunity to provide a brief overview of your business plan; capture your readers’ attention and imagination; and, summarize the plan’s highlights and key selling points.

So, why am I telling you these 3 things when you probably already know them?

Because it’s useless advice unless you employ one, not so obvious, age old marketing technique to make these points come alive.

This one technique is the key to the ultimate success of your business plan and its ability to attract potential investors. More importantly, it will help you raise money for your business…potentially a lot of it.

Best of all, it costs nothing to “do” and can save time finding serious investors.

The not so great news is it’s rarely found in “business plan” books or on most business plan websites.

It’s one thing David Galdstone doesn’t tell you how to do in his popular “Venture Capital Handbook.”

You won’t find it in David E. Gumpert’s book, “Burn Your Business Plan.”

In fact, the Small Business Administration, Business Plan Pro, and other popular business plan web sites never mention it.

A Wall Street Favorite

This ONE marketing technique is used by the most prestigious investment bankers on Wall Street to raise millions of dollars in equity and debt financing for their clients.

It’s how major newspaper publishers trigger the public’s curiosity and sell newspapers.

So, what exactly is this powerful marketing technique that single handily can unleash the value in your business plan? It’s writing interrupting and engaging headlines.

See, I told you it was simple.

Marketers and news people have always understood how effective, well-written headlines make it easier for readers to scan for information. Through experience and testing, they’ve learned that the public reads little else when deciding whether or not they are interested. And, I’m telling you that busy investors are no different.

Why Isn’t Everybody Using It?

Good question… see, most people providing advice about business plans are lawyers and accountants. People who get marred in legalese and make their money by making things complicated. They also tend to confuse headlines with hype.

The truth is that you can use headlines to provide a more powerful overview of your business plan, capture your readers’ attention and imagination, and better summarize the plan’s highlights and key selling points — all the things they say your Executive Summary must do, without resorting to hype.

Moreover, well thought out headlines, when taken collectively, succinctly tell your business plan story. Just by scanning the headlines in your Executive Summary, your readers will be able to know exactly what your business plan is all about and whether or not it fits their investment strategy.

The success of your entire business plan may stand or fall on what is said in the headlines of the plan’s individual sections. These headlines must arouse the investor’s curiosity and self-interest.

I have seen time and again, cases where business plan writers, both professionals and do-it-yourselfers, struggle writing content for hours, for days–fixing it, polishing it, rearranging it. Yet, when it comes to headlines, they put in no thought or effort, often resorting to the same old “information-less” sub-headings used in every sample business plan or template.

So let me ask you this: What good is all the painstaking work on content if there are no headlines to first stop investors and make them want to read your plan?

How To Give Investors A Reason To Want To Read!

Absent any previous knowledge of your business venture or plan, investors have little else to spark their curiosity and self-interest. In the absence of headlines or the presence of poor ones, the best writers in the world can’t write content that will sell the venture. They haven’t a chance. Because if the headlines are poor or lacking, the business plan will not be read. And business plans that are not read do not get funded.

Before starting on possible headlines, review the content in your Executive Summary. Somewhere in this content you are likely to find the four or five key selling points of your plan on which to base your headlines — not the exact words for the headline, but the concept on which your headlines will be based. Now spend all the time you need to get the best headlines possible, then rewrite and polish your content till it flows naturally from headline to headline.

Remember, headlines decide whether or not investors stop a moment and look at your business plan, or even read a little of it. And, headlines that appeal to investors’ self-interest, give news, or arouse curiosity in this order are often the most successful headlines.

Go take a look at the Executive Summary in your business plan. Do you use headlines to capture your readers’ attention and imagination and better summarize your plan’s highlights and key selling points? If not, you’re missing a great opportunity. Go ahead, step away from crowd and write headlines that offer investors something they want. When you do, they will take time to read the content in your business plan.