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PKF Australia

Accountants and Business Advisers

Clarity - aligning your business and personal goals

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Andrew Beattie

Director

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Clarity - aligning your business and personal goals

Have you ever wondered why your business isn't delivering what you intended? Or, what makes some businesses successful while others are mediocre? Why aren’t you where you want to be?

We have discussed these topics with many business owners and managers over the past few years on the journey towards developing a service model that is entirely targeted towards our clients fulfilling their dreams.

We call it the PKF Future of Choice; a service approach and wealth platform that puts the family behind the business, their goals, dreams and objectives at the centre of everything we do.

The Future of Choice starts with tapping into the passion that started our clients on the journey they are on with their business and lifestyle choices. It is about getting clarity on your goals at a personal and business level and facilitating the alignment of these goals. Once this is realised, all of your goals become more achievable.

Obviously, it is vital to truly understand what our clients’ goals are; what they want to achieve, both financially and non-financially, where they want to be, and what they need to live their future of choice. Above all, we must ensure the whole family’s goals are captured rather than just the most dominant person. By  setting these goals we have a target to aim for so our advice and guidance can be more pointed towards our clients achieving what they are after and we truly become the trusted adviser.

Our role is to challenge, unpack, hold clients accountable and where appropriate assist in the outcomes. 

Unfortunately, the majority of people don’t set goals or at least don’t record them or share them with anyone. When they do set goals they are generally what we call ‘society goals’; general in nature and conform to the values and beliefs we have been raised with, like the desire to be debt free. The problem is that these goals are not specific or targeted enough. It is almost impossible to track how you’re progressing towards achieving them and difficult to hold you accountable.

The Future of Choice includes the Discovery Session; a structured, facilitated process that challenges our clients and assists them to establish pointed goals for themselves and their families. The aim is to develop goals that are time bound with clear actions and above all that get everyone on the same page. The process and subsequent report address wealth and investment, debt positions, the business, estate planning, risk and asset protection, education and coaching and who the client has on their team to ensure they achieve their future of choice. Each area is reviewed and considered against the clients’ stated goals. We identify the gaps and areas that need action and a detailed action plan is developed for the client – a roadmap for success that ensures they are held accountable, progress is reported and the family stays on track. We address the key areas of:

  • How it links to a goal;
  • What it is;
  • Who is responsible;
  • When it is to be completed by; and
  • How are we tracking.

It does not matter whether it is a business client or a personal client, everyone is trying to achieve certain things in life. The process is about helping to uncover and shape what these things are and ensuring that whatever business advice or investment strategies we provide are actually aligned to the bigger picture and are adding true value.

When we get into business it is usually to deliver on another objective like lifestyle or wealth, but all too often we lose that focus. The Discovery Session is about bringing the focus back so more people can experience their future of choice.

If you’re a client of PKF, contact your Client Relationship Manager to learn more or arrange your personal Discovery Session. If you’re not a client you can learn more at www.futureofchoice.com.au.

 


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