Please review my business plan and not just upload the other student's one.

You are invited to complete a business plan activity. The business plan is designed to help you communicate what your business will look like as you start and what your goals are for the future. Please review the instructions below. BUSINESS PLAN BUSINESS PLAN 1. 2. 3. 4. Provide complete answers to each question. Be specific in your responses. You are expected to utilize any research you have done or knowledge about the business to describe your plan. Be sure to describe your rationale for crucial aspects of your plan. Submit your completed plan by email to your recruiter. Business Plan Proposal (Please answer each question thoroughly. Email this document to your recruiter when completed) 1. Describe your vision for building your practice at Edward Jones. How do you plan to add value to the clients and communities you will serve? My vision is to provide timely and quality financial advising to the customers of EJ, and above all that build a unique client relationship. A relationship that make my clients believe that I am a member of their family and more concerned about their money and investment more than they are. My vision is to construct a business where my clients are confident that my number one target is to seek the best risk-return investment that suits their willingness, ability and their investment style to ensure customers receive maximum satisfaction and to maintain customer loyalty towards the organization. The values I am looking to add to my clients is happiness, relief and a positive vision towards the future and this is done by being a good listener, understand them and their needs clearly, always be available when needed by them, being a responsible and reliable advisor who deals with honesty and clarity. The values mentioned above also can be reached by providing essential information to clients, which is crucial in decision-making and to always have a positive attitude towards my clients. I will then also build credibility in the mind of new prospects with a strong client/customer communicating with prospects honestly about the value you bring to them. I will assure my clients that the quality of products or services will be consistently checked for improvement to ensure the best quality to all clients. In addition, I will frequently check on my clients to build a strong positive relationship will is beneficial to the organization long-term objective of building a large customer base. Furthermore, Going beyond their expectations of the typical transaction and delight with knowledge of the service, an added volume of the product or service will be my priority. If a situation arises that a customer is unsatisfied, and after apologizing for inability to accommodate them, I will refer them to someone within the organization who is best placed to meet the needs at hand. The values I would add to my community are bonded friendly stress free community where parents and individuals can safely sleep at night not worrying about their financial future due to their confidence that there is a trust worthy advisor is taking care of it. I would also want to add a family vibe neighborhood to my community where neighbors know each other and this can be achieved by taking the initiative and make activities which involves the my community to be gathers and get to know each other and strengthen their bonds. My daily routines will mainly consist of door knocking from house to house and marketing my business. 2. Please detail the prospective types of clients you believe will allow you to build your business to fulfill your vision. In my belief anyone and everyone is an opportunity that will allow me to build my business to fulfill my vision. The key point is to know my clients and their personality so I understand how to treat them and how they think which will result in successfully meeting and exceeding their expectations. Every client has his own personality but theoretically speaking there are some general types of clients and different ways to treat them. These types are a) The passive aggressive type: these are clients who are passive initially but become aggressive towards the end demanding changes to be made. b) The Family friend type: these are clients who know me personally and know my capability and have already a trust in me. c) The Under-Value type: these type of people who do not know how hard I work for them and will always have the mentality of \" How hard can this really be?\" d) The Nit-Picker type: These type of clients always like perfection and can pick any very minor details not taken care of. e) The Saver type: These type of clients who would like the maximum output with the minimum input and with minimal to none risk taken. f) The I can do this myself type: Type of clients that have the belief that they can do the job themselves without the help of anyone g) The very involved client: Type of clients who love to be very involved in their investment and like to have a call in the path of their investments h) The Ideal client: Clients who understand the nature of the investment job and understand how advisors work. All these types of customers have a need to be filled whether it is a retirement plan, buying a new house, buying a new car, their kids education and many other needs so I will indiscriminately reach out to clients from all age groups, income levels and different localities. This will help me build a huge client base and ensure my products and services are widely distributed across the region. Additionally, flexibility in customer and market selection is key towards developing and maintaining a large market share. My clients will include, old and young, poor and rich, this will help portray a socially responsible business towards the general public. Through an initial and ongoing process, I plan to continually help my clients achieve their financial goals and objectives along various life stages. Developing this comprehensive, long-term strategy encompasses assessing the tolerance for risk at each life stage, documenting financial goals, tracking investment performance and progress towards financial goals, implementing tailored advice and guidance and conducting regular reviews. This allows us to stay on track and focus on that which we can control. 3. Why do you think that these types of clients would provide a basis on which to build a business that would allow you to realize your vision? Serving all customers indiscriminately will enable me develop a fruitful customer base which is fundamental in attaining Edward Jones plan. These type of clients have different personalities and mind set mentalities, so accommodating their needs and achieving their goals will show my capability to work with different type of clients and will build a strong reputation of Edward Jones and their employees to always put the client first and the main goal of the company is not business side but the client satisfaction and gaining his trust. Making my clients happy and fully satisfied can help my business grow when they talk about how I helped them to their friends, family members, and people they know leading to referral and increasing my client base as well as improving on the quality of products and service delivery to contribute towards achieving Edward Jones overall plan. Being open and honest would also provide a friendly business atmosphere that will facilitate an easy transaction between the client and Advisor. Having clients that are passionate about their financial dreams is also important because it allows me to do the job with ease and provide quality service. 1. Explain what actions you will take each and every day to identify and approach these prospective client types by completing the calendar below. The calendar requires you to detail the actions you would take throughout the week. This is your opportunity to explain what you will be doing to build a successful practice with Edward Jones. Please be as specific as possible. Morning Mid Morning Late Morning Mid Afternoo n Late Afternoo n Evening Monday Review Emails/Update prospective Client Information Face to Face Door knocking throughout the residential community Face to Face Door knocking throughout the small/large businesses in the community Introduce the community with fliers, ads, business cards and face to face interactions as to what I do for a living Network/Referrals Have lunch or coffee with new prospective clients Send \"Thank you\" letters to prospects Tuesday Review Emails/Update prospective Client Information Face to Face Door knocking throughout the residential community Face to Face Door knocking throughout the small/large businesses in the community Introduce the community with fliers, ads, and face to face interactions as to what I do for a living Network/Referrals Wednesday Review Emails/Update prospective Client Information Face to Face Door knocking throughout the residential community Face to Face Door knocking throughout the small/large businesses in the community Introduce the community with fliers, ads, and face to face interactions as to what I do for a living Network/Referrals Thursday Review Emails/Update prospective Client Information Face to Face Door knocking throughout the residential community Face to Face Door knocking throughout the small/large businesses in the community Introduce the community with fliers, ads, and face to face interactions as to what I do for a living Network/Referrals Friday Review Emails/Update prospective Client Information Face to Face Door knocking throughout the residential community Face to Face Door knocking throughout the small/large businesses in the community Introduce the community with fliers, ads, and face to face interactions as to what I do for a living Network/Referrals Saturday Review Emails/Update prospective Client Information Face to Face Door knocking throughout the residential community Update referrals/prospects records and schedule meetings Sunday Review Emails/Update prospective Client Information Face to Face Door knocking throughout the residential community Update referrals/prospects records and schedule meetings Introduce the community with fliers, ads, and face to face interactions as to what I do for a living Network/Referrals Introduce the community with fliers, ads, and face to face interactions as to what I do for a living Network/Referrals Have lunch or coffee with new prospective clients Send \"Thank you\" letters to prospects Have lunch or coffee with new prospective clients Send \"Thank you\" letters to prospects Have lunch or coffee with new prospective clients Send \"Thank you\" letters to prospects Have lunch or coffee with new prospective clients Send \"Thank you\" letters to prospects Have lunch or coffee with new prospective clients Send \"Thank you\" letters to prospects Have lunch or coffee with new prospective clients Send \"Thank you\" letters to prospects Phone Knocking: Call new prospective clients/referrals to check on their well being and interest in business with Edward Jones Phone Knocking: Call new prospective clients/referrals to check on their well being and interest in business with Edward Jones Phone Knocking: Call new prospective clients/referrals to check on their well being and interest in business with Edward Jones Phone Knocking: Call new prospective clients/referrals to check on their well being and interest in business with Edward Jones Phone Knocking: Call new prospective clients/referrals to check on their well being and interest in business with Edward Jones Schedule meetings for the upcoming week and research local communities for potential networking and organizations to join Schedule meetings for the upcoming week and research local communities for potential networking and organizations to join 5. To identify and approach these prospective client types, what actions will you take? I will approach as many clients as possible while analyzing their personalities, and getting to know them better on a personal level. After the analysis is the categorization of the clients to find the right approach and technique in dealing with them. No client category will be left out since they all contribute to overall success of the organization. Additionally, I will develop customer acquisition and retention strategies geared towards fulfilling the needs and wants of each client category described above. These strategies will help develop customer profiles and consequently develop a plan for each customer. Face to face interaction and selling myself as a brand of Edward Jones skill and professional employee is very important because it creates a favorable organization picture in the minds of customers. I plan on using my connections within my community; my connections from college via LinkedIn as well as using other various methods like my Facebook friends, University mates and Alumni. I will approach these prospects by creating a positive rapport with each and every customer, sharing my personal experience is another technique I will employ when conducting my business. During my interaction with my clients, I will give them an opportunity to share with me their future plans and my response will involve provision of important information which will help them fulfill their plans. It's at this point that I will suggest to them Edward Jones plan that will help them achieve their goals. 6. How will you turn these prospective clients into Edward Jones clients, especially if they have been or are considering doing business with others? Trust can open all the closed doors. Once I gain my clients trust it will be easier for me to turn them into Edward Jones clients. Trust comes when my clients see that I understand them and can understand their perspective, when they find an honest advisor who can clearly explain their investment requirements and every inquiry they have in a simple way, without any complexity, which enables them to understand the information given to them. Clients will give me their trust when see me, as an advisor, know which investment style suitable for them, when they see I am always available for their help no matter what, always staying in touch with them and sharing their happy and sad moments with them. Some clients are the analytical type where facts and numbers are the way to persuade them. Demonstrating how our products and services are different from others, I will provide a sample where numbers show Edward Jones' employees' outcomes have beaten expectations and competitors on similar risk-return investment style. It is logical that some clients who are already dealing with other advisors will not leave them and start working with new advisor like myself, but I am confident that my passion and hard work will make them reconsider their options. A quote I always go by \" passion has a funny way of trumping logic\" NIKE commercial advertisement. Furthermore, I will provide discounts, if I can, for new clients who wish to confide on our products and services. This approach may have high initial cost but is beneficial to the organization in the long run since it results in large customer base. Utilizing the face-toface interactions that build a mutually beneficial relationship between my clients and myself. I think demonstrating to the clients that I have their best interest at heart and that I am a trustworthy individual will go far in attracting and maintaining them. 7. On the basis of your vision and plan for identifying, approaching and convincing these prospective client types to do business with Edward Jones, please quantify your performance expectations for each of the timeframes provided below: Timeframe from Can Sell Date New Assets Rationale for each amount Months 0 to 6 1,250,000 Rationale for each amount 50 Rationale for each amount 5,500,000 Months 7 to 12 115 Months 13 to 24 225 I believe that at first getting clients will be hard, but being able to almost quadruple my clients after the first 6 months will show the innovation and drive of my business Months 0 to 6 Net Commissions Expected 2,500,000 Months 13 to 24 I believe that each amount is an expected appropriate number to guess how much new assets will come into my business. Months 0 to 6 New Household Accounts Months 7 to 12 15,000 Months 7 to 12 20,000 Months 13 to 24 50,000 Looking at the chart commissions' increase for the time that you spend at Edward Jones so I expect my commissions to increase over time as well. 8. How will you track your performance to evaluate your progress towards meeting these performance expectations? Evaluating my progress starts with achieving the performance I mentioned earlier. Any exceeding numbers will determine I am doing well. Performance tracking with many of the indexes including the NASDAQ, S&P 500, and the DOW is an important measure of my investment strategy performance. Typically beating the average market return will indicate that I am on the right track. In terms of customer acquisition and retention as well as the amount sells made during my tenure then its measure will be a balanced scorecard. Last but not least after measuring my performance I will use six sigma techniques to eliminate non-value added activities or methods of advertising and increase my working productivity. 9. At Edward Jones the Branch Team consists of a Financial Advisor and a Branch Office Administrator. How will your Branch Team work together to build a successful business? Each member of my team will have the vibe that the branch is his/her own. No matter what is your position if you have a good idea that will lead to success in our work we will go with it. I would like to work in a collaborative atmosphere where each person will show the best of him/ her. I will share the knowledge I obtained during my training at the headquarters with other staff members at the branch. I will bring the values, aspirations, and goals of Edward Jones with me and pass them along to the staff at the branch. Not only that but I will also reward bright Ideas which help the branch to move forward as a motivation for his/her work