When Kate Kimmorley was told that the advice arm she was a part of was closing, it was an opportunity for the team at Kimmorley Financial Management to review their business model and determine the best structure for the future.
For Kate, that meant looking into all the possible alternatives, from self-licensing, to exploring a merger, joining a national firm, or being a part of boutique licensee. As Kate said, "it is not something you explore unless you are really serious about moving".
A five-step process
Once Kate and the team had looked at the options, Kate went through a rigorous process to determine how to make there right change for the business, with minimal disruption. This included:
- Determining the long term business goals
- Defining key support requirements
- Shortlisting business model options
- Evaluating each options and shortlisting providers
- Measuring providers against business needs
You can read Kate's story here.
