THE ACCOUNTANT’S STRATEGY MAPx

x x x

=

= =

=

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+CONVERSION RATE

EXISTING CLIENTS TOTAL CLIENTS RETENTION RATE

ACQUIRED CLIENTS

LABOUR COSTS

EXPENSES

PROFIT

GROSS PROFIT

REVENUEAVERAGE PROJECT VALUE

NO. PROJECTS PER CLIENT PER YEAR

Active YouTube channelAdverts and listingsAlliancesArticlesBlogBrand make overBrochuresBuild local credibilityBuilding, vehicle signageBuy databaseBuy free block or other firmsClient education programClient success storiesCloud CRMContact buyers regularlyContact clients regularlyCoordinated marketing strategyData mining existing databaseDatabase - 8 step nurturing programDatabase - cleansing programDatabase of SMEs - promote direct to themDifferentiation strategyDirect mail - with an offerDownloadable whitepapersEmail marketing - with an offerEmail signaturesEndorsement marketingEnter business awardsFeedback from unsuccessful proposalsFriends and familyGoogleAds and AdWordsGuarantee - price/serviceIncentivise team and clientsInformation packsInternal marketing workshopsInvent new productsLinks on other sitesLocal newspaper advertisementsMarket to nicheMedia releasesMore PR/PR campaignsNetworkingNewslettersNiche Benchmark ReportNurture centres of influenceOffer free reports/whitepapersOpen another office(s)Preview tours - boardroom briefingsPromotional giftsRadio and TVReferrals - Asking alliancesReferrals - ask at every meetingReferrals - in eNewslettersSearch engine optimisationSeminars, workshopsSit on industry boardsSocial media profiles - Facebook, Twitter, LinkedIn, Google+Speaking engagementsSponsor community eventsTax discussion groups - locate, attend and speak at themTelemarketingTestimonials everywhere - website, brochures, welcome bookTime relevant marketingUse marketing specialistsUse TRUST online assessmentsWebinarsWebsiteWhite/yellow pagesWrite a book(s)

1300/1800 phone numbersAbundance mentalityAccept all payment methodsAct like you don’t need the workActive listening and active questioningAll meetings FREEAlways BAMFAM - even 1 year outArticulate the value with client(s)Ask for the businessBe seen as the expertBuild relationshipsBuild the clients ‘WHY’ into all meetingsCase studiesCommunication training - all client facing teamConduct role playsConsultative sellingDefine Unique Selling PropositionDeliver REMARKABLE serviceDocument ‘best practice’ conversion rateDrinks/food menu in receptionEmpathetic discussionsEmploy specialist sales personEstablish list of CNE’sFollow PAN interview processGuarantees and promote themHave best rainmakers train othersLanguage, scripts & dialogues for any situationLeads qualified firstLearn how to present valueLeverage charity or giving program with clientsListen - ZIP IT!Market researchMeeting agendasNeeds analysisNext steps very clearNurturing - send cardsObjections and answer listOffer PSS: Business Edition servicePosition other team members as expertsPost sale reassurancePost session discussionsPractice objections - sales rugbyPresentation qualityProjector and smart board in meetingPromote how good your clients areRefine closing techniquesResearch client business marketResearch prospects before speaking to themRoadmap on the ‘Awesome 8’ servicesSales skillsSales training for teamScript processesSelling from stage - educatedSet targetsSite visitSite visits F2F strategy - meet themSOA technology at presentations - iPadsSpecialise - niche marketsStreamline communications post meetingSystem for measuring KPI’sTake accountants to client meetingsTake an active interest in each clientTeam incentivesTestimonials - have a library of themTRUST questionnaires before meetingsUnder promise and over deliverUnderstand your prospects businessUp sell, cross sellUse 12 step meeting process 100% of the timeVirtual client demosVisit the competitionWebinars‘What if’ selling in every situationWin-win negotiating

Annual client surveyAsk more questionsBenchmarking and GAP analysisBirthday cards/strategy - each clientCase studies around service offeringsCharity or giving program with clientsClient Advisory BoardsClient benefit centreCritical non-essentials (CNE’s)Create a REMARKABLE experienceCreate an online community for clientsDetermine future needs and provide educationDocument ‘best practice’ retention strategyEducate clients on servicesEmail, phone, web supportExit interview - formalised processFind client ‘WHY’Follow through on promisesGo out and visit clientsGuaranteesHold client events“I was thinking of you” notesInvent new productsInvoice inserts of servicesLeadership in communityLongevity incentiveLoyalty programNetworking functions/promote clientsNew service offeringsNewslettersNo pre-judgingOffer PSS: Business edition serviceOffer incentivesOffice makeoverOnly have A-class clientsPerformance standardsProactive phone callsRefer to friendly strategic partnersRelationship nurturing programSack D-class clientsSeminars/workshopsSet up schedule of contact systemSet up the next appointmentShare client successSocialise with clients outside of workSpecial occasion gifts, cardsState of success letter - shows progress since joiningSuperior customer serviceTeam incentivesTrade longer/different hoursUnexpected giftsUse cloud tools to keep in contact - social media, eCards

Administration do invoicingArticulate value with clientsAverage Hourly Rate focus on every invoiceBan write offsBenchmark against other firmsBrainstorm valueBroaden objectives - ask questionBuddy systemClient matrixCommunicate with client during the WIPDelegate down, charge same priceDocument ‘best practice’ transaction valueEducate clients on all servicesEnsure spheres know desired client profileFire less profitable clientsFocus on higher margin servicesFollow 12 step meeting processGet rid of charge rates $1/hourHave courageHave self beliefJob cards - value articulation systemLanguage, language, languageLeverage past successLook successful - be an avatar of successNo discounts on servicesOffer options - choice of yesesPractice and role playsPrice increasePrice list / menu (internal) - educate all team membersPrice upfrontProvide value earlySales processScriptsSelect clients on criteriaSet critical number (KPI)Standards for qualityStrengthen relationshipsTarget more profitable clientsTemplate libraryTrain team in sales skillsUnbundle all servicesUp sell additional servicesValue pricing

Accelerant curveAdd new expertsAdd new serviceAnnual planning sessionAsk open ended questions‘Awesome 8’ in checklistsBAMFAMBuild strong relationshipsBusiness advisory servicesBusiness improvement servicesCalendar of contactClient interview sheetCoaching servicesConsistency of experienceCreate new productsCreate WOW experienceDocument ‘best practice’ number of transactionsDocuments sales processDon’t give answer right awayDon’t pre-judge what they will buyEducate team on finding opportunitiesEncourage team to spot opportunitiesFree emailsFree meetingsFree phone callsIntroduce client to specialists in firmLanguage, language, languageLead clients (’you need this’)Live the ‘Awesome 8’ and offer to allLower partner productivityNetworkingNewslettersNurture loyaltyNurture meetingsOffer PSS: Business edition as serviceOffer Knowledge Factory products to menu of servicesRole playsSales skillsScriptsSuccess planning workshopsThink of the 4th sale firstUnbundle - industry contentUnbundle - marketing systemUnbundle - pricing systemUnbundle - trainingUnbundle - servicesUse technologyVirtual workshopsWealth creation services

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= =+ + +CAPACITYEQUIPMENT

Accountants doing accounting work onlyBreak out roomsBuy blocks of fees of firmsCareer development plans for team membersCelebration Charitable giving programCommon purposeCorrect mix of rolesDirectors delegatingDirectors doing high end work onlyDocument ‘best practice’ people development processEmployee surveysEmployer of choiceEmpowerment programEnough people in right rolesEquipment - coffee machine, TV/DVD, etcFamily eventsFlexible working hoursFun budget - with monthly FUN directorGoal alignmentHand written cards to teamHire AccountantsHire Business ManagerHire Client Services AssistantsHire Marketing CoordinatorHire slow - fire fastImplement 1 page plan for AccountantsInduction processInvolve team in hiring processOpen communicationOrganisation chartPaid above award salaryPAN Community logins for all teamParticipate in sports eventsPerformance meetingsPersonality profiling, with appropriate trainingPower plan of actionProfiling for team membersRecognition of team members - appreciationRewards, incentives, profit shareRoles, responsibilitiesSabbaticalsSay ‘thanks’ for a job well doneSecondment to other offices/divisionsSoftware training for all productsStriving for best culture - employer of choiceSubsidise study costsSupply food, drink, treatsSupport charitiesTake accountants to client meetingsTeam advanceTeam day with PANTeam meetingsTeam monthly breakfastsTeam training with Learning Centre videosTeam uniform and sports gearTop performers train othersUse Member Benefit Centre dealsValues set by the teamWOW environmentWOW recruitment process

PEOPLE STRUCTURE AND DEVELOPMENT

POLICIES AND SYSTEMS

LOWER RECEIVABLES DAYSLOWER WIP DAYS

2-3 screens on each deskBetter integrated web connectionCloud CRM systemDigital cameraDocument/knowledge managementFast copier/scanner - individualGoToMeeting/GlanceInduction manualIntranetiPads throughout officeLaptops for client managersMini projectorsOne database onlyOutsourcing common workPaperless officePolicy on IT usageProactive Success SystemProjectorRemote login accessSales bellServer-less, all in the cloudSkypeSmart phones for all client facing teamSoftware productivity toolsSpeech recognition technologyTraining on all office equipmentTyping skills workshopUse Member Benefit Centre dealsVOIP - internet phone systemWhiteboards - turnaround timeXero/Sassu for all clients

Abide by 18 step workflow systemClient classification criteriaClient meeting process - 12 stepCommunicate policies with clientDaily huddles - 10@1010Daily management huddle - 7@747Dealing with government authoritiesDocument ‘best practice’ policies and systemsDon’t start work until all information is inElectronic work-papersEngagement lettersFee preparationFiling policyFlexible working hoursInformation gathering checklistsInitial meeting systemIntegrate systems that reduce administrationKnowledge of all policiesLeave calendarMaking/changing appointmentsMonthly board meetingNaming convention of filesOnline procedures manualPaid before you startPay above market salariesPhone call meetings - do not return callsPresentation of jobPrice every job upfrontProposalsQuarterly and annual planning processQuestionnaire before prospect meetingsReturning client recordsReviewing the jobSend courier company to get informationTeam training with Learning Centre videosTemplate everythingTime budgets on jobsUse project kits in Success LibraryValues, Service Standards, Culture banners in all roomsWeekly management meetingWeekly team meetingWhiteboard turnaround time

10 day workflow turnaround KPIAbide by 18 step workflow processAdministration to manage workflowAllocate the right team member to the jobAppoint a WIP ‘champion’Bill in advanceBlock out time to review workBuddy system for traineesBudget monitoring systemBudgets for jobs - in hoursCalendar to manage work inClear instructions to do the jobCommunicate WIP results weeklyDon’t start until all work inFinish and invoice dailyGet better organisedGet rid of bad clientsImprove incoming client dataInformation gathering systemInterim billJob monitoring systemMinimise number of open jobsMonitor non-chargeable timeOutsource work not qualified to performPerformance standards for turnaround timePick up job oncePreserve client knowledge from year to yearPrioritise clientsProfessional Development ManagerRight mix of jobs/projectsSchedule work with clientsSelf imposed deadlinesTeam accountabilityTeam set targetsTeam training with Learning Centre videosTell clients due dateTraining for team - technicalTraining for team - using the systemsUse project kits in Success LibraryWorkflow management system

Allow direct debitBill in advance - 50%, 25%, 25%Change wording - do on or before Communicate price at the start of the job Receivables championReceivables systemDiscount for full payment before start - 10%Document for upfront paymentDon’t send statementsExplain term upfrontFee funding facilityFollow up rigorouslyGet paid in advanceGet toughImprove turnaround timeInvoice at final interviewMultiple payment optionsPartners not involved in follow upPay in installmentsStop work on the job until paidTeam training with Learning Centre videos Use project kits in Success LibraryVisual management

CASHFLOW

create capacityincrease cashflow

improve profits