I spent some time this morning talking with two accountants. We were discussing the various issues facing business currently, it is interesting to note that there are definitely commonalities with property investors in that there is a vital need for detailed planning both for existing business’s/investors and those looking at there first foray into a business or property investment venture.
There is an old saying that rings true in our Post Global Financial Crisis world more than ever before: Failure to Plan is a Plan to Fail.
Whenever I sit down with a client in business or a Property Investor; and no matter what there levels of experience the first thing I want to know is about there Plans; their plans include their needs and goals. You talk to anyone they all have needs and goals; and all professional services providers seeks to understand this (at least they should). Whether it’s a Solicitor looking after a family law matter or a Financial Planner looking to assist you with your Life Insurance needs; they all need to know the clients’ needs and goals.
Planning is vital to your success in Property Investment, whether it is your family home or you have progressed to developing property you need to be able to articulate your needs and goals. You also need to be sure that any of the Professional Services people you engage have clearly understood those needs and goals.
Have a plan, understand your own needs and goals, seek out professionals who know they need to understand you before they start offering their assistance. Ian Franklin
