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Business Plans in Private Banking and Wealth Management
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Transcript of Business Plans in Private Banking and Wealth Management
Writing Business Plans in Private Banking and Wealth Management
Geneva, 19. April 2007
Overall Objectives to Introduce Systematic Business Plans in Private Banking and Wealth Management
A structured process of approaching markets in private banking
quick understanding of possible incomes, costs and returns of developing new markets
Compare business plans across a bank’s markets
need to align regions and identify what works where
An aggregated overview of all business plans
a standard format allows to quickly draw the big picture
[photo by greenboxhouse.wordpress.com]
Objectives of a Systematic Business Plan for Tackling and Identified Market
Elaborate how a private bank can grow in an identified market
Estimate the revenue potential for this market
Calculate the cost structure of the identified market approach
Evaluate the possible risks of the project
… Produce a structured business plan containing all of the above. Succeed.
A Business Plan Approach in 4 Phases
Preparation and Planning
Elaboration of the Market Approach
Identification of Necessary Resources
Writing of Business
Plan
1
2 3
4
approximately 3 weeks
~ 1 Session
• Calendar• Coordination• Market research
~ 2 Workshops
• Identify market segments
• describe value proposition
• outline client acquisition strategy and specify client relationships
• describe revenue streams and pricing
~ 1 Workshop
• Identify projects• estimate
man/days• determine
necessary resources
~ 1 Session
• Description of market approach
• Expenses/Income• Return estimates• Risk estimates• Implementation
recommendations
approximately 4 weeks approximately 2 weeks approximately 3 weeks
Project Planning
Leadership Interview
Kick-off & Workshop
Second Workshop
Third Workshop
Review „Plan Marketing“
1 hour
personal interviews
Explanation of methodMarket research
Identify objectivesIdentify participantsPlanning Material collection
2x3 hours
group sessions
Client Segments?Offer?
Change AgendaSegmentationClient RadarStrategy Canvas
2x3 hours
group sessions
Client Acquisition?Relationships?Revenues?
Change AgendaMulti-channel DesignRevenue Model
2x3 hours
group sessions
Projects?Man/days?Resources?
Change AgendaMarket Approach
3 hours
group sessions
Final Presentation
ReviewNext Steps
examples / toolset
preparationmarket opinion
analysissynthesis
synthesiswriting
Spread buzz be positive
evaluate assist
evaluate assistStores
CHANNEL Awareness Evaluation Purchase After sales
inform
inform
sell
Web
Groups,Lists, etc.
praise admireBlogs
checkpoint
checkpoint
checkpoint
approval
business plan
Phase 1: Preparation and Planning
Calendar list the participants of the business plan process
identify windows of availability for all participants
Coordination mobilize participants and explain their roles
Market Research „Desk Research“: collect reports and information on
the targeted market
Actively research the addressed market if necessary
1 2 3 4
Phase 2: Elaboration of the Market Approach
Client SegmentsClient Acquisition
&Relationship
Revenue Streams
Today Future
1 2 3 4
Offer / Value Proposition
Market Approach2
Today Future Today Future Today Future
Phase 3: Identification of Necessary Resources
Projects
man/days
Resources
Today Future
1 2 3 4
Necessary Resources3
Client SegmentsClient Acquisition
&Relationship
Revenue Streams
Offer / Value Proposition
Market Approach2
Projects
man/days
Resources
Today Future
Projects
man/days
Resources
Today Future
Projects
man/days
Resources
Today Future
Today Future Today Future Today Future Today Future
Phase 4: Write the Business Plan
1. Targeted market segments
2. The value proposition for each segment
3. Client acquisition, client relationships and resulting revenue streams
4. Differentiate and market positioning
5. Necessary resources to realize the business plan
6. Risks and their management
7. Estimated ROI
8. Implementation plan
1 2 3 4
Client SegmentsClient Acquisition &
RelationshipRevenue Streams
Offer / Value Proposition
Necessary Resources
Market Approach
For detailed information on systematic business plan development in private banking and wealth management contact [email protected]