the paradox process introductory team workshop
Post on 19-Oct-2014
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DESCRIPTION
Slides used in 2 hour introductory workshop to explain to team members in an accounting firm what The Paradox™ Process is, how it will help the firm work more closely with clients, and how team members, the firm and its clients will benefit as a result. The slides are graphical, not wordy. For more information on the content delivered during the workshop please email michael [dot] carter [at] businessfitness [dot] net.TRANSCRIPT
12 Steps to Growing Your Firmp gby Growing Your Clients
Introducing The Paradox™ Processg
Michael ‘MC’ [email protected]
What we’ll cover todayWhat we ll cover today
Your untapped potential to help clients moreA story of business growth through leverageA story of business growth through leverageSome key business success principlesThe 12 Step Paradox™ ProcessWhat’s in it for you?What s in it for you?Our next step …
Quick bioQuick bio
Mi h l ‘MC’ C tMichael ‘MC’ CarterMarketing and innovation
Industrial design– Industrial design– Patent holder– Business consultant– MBA in Innovation and
EntrepreneurshipP f i l iProfessional servicesCo-Founder of businessfitness™businessfitness– HowNow®
Because the purpose of Because the purpose of business is to create a
h b customer, the business enterprise has two—and only two—basic functions: marketing and innovation. marketing and innovation.
Marketing and innovation Marketing and innovation produce results; all the rest are
M k h costs. Marketing is the distinguishing, unique function of the business.
Forthcoming bookForthcoming bookThe Practice Paradox™– Outlines the 12 Step
Paradox™ Process
Anyway, enough about me …… what about you?
Question
Write down—in one sentence—what an accounting firm doeswhat an accounting firm does
Activity
Write down 3 things you like about working in an accounting firmworking in an accounting firm
Activity
Write down one reason you think your clients chose this firmyour clients chose this firm
H l hHealth
Life
PeopleMoney
fort
Result Eff
t
Result Effo
rtE
t
Result Effo
rtE
Create a lever
Leverage
Give me a lever long Give me a lever long enough, and a prop g p pstrong enough, I can
l h d dl single-handedly move the worldthe world.
Archimedes of Syracuse 287 BC 212 BCc. 287 BC – c. 212 BC
Lessons in Leverage Lessons in Leverage from a Suburban Travel Agency
Wh t ’t measure What you can’t measure, you can’t manageyou can t manage.
They were only They were only lli h fli h !selling the flights!
Values Beliefs BehavioursValues Beliefs Behaviours
Good serviceIt’s not good
service to ‘hard Don’t suggest options not
sell’ clients asked for
Good serviceIt’s poor service not to offer
clients options
Suggest options not asked forclients options
Activity
Think of a time you received amazing service from a business Write down a service from a business. Write down a sentence or two about the experience.
One of the best ways to help your clients more
i t h lp li t is to help your clients more.That is to do more for themThat is, to do more for them.
Where you want to be
ap
Where you are now
skill
s gaare now
ng t
he
Brid
gi
Helping clients more
ap
Servicing clients to a
skill
s gaclients to a
certain level
ng t
he
Brid
gi
Capacity?Capacity?
Additional planning
related work
Additional
e.g. tax planning
planning related work
A client’s
The client’s compliance
kA client’s
The client’s compliance
kcompliance
work
workcompliance
work
work
Time ValueTime Value
Proactive
3 13 1WantsNeeds 2-1 4-3
4 2WantsNeeds ShiftShift
4 2
Reactive
“You didn’t sell”You didn t sell
“Clients didn’t buy”Clients didn t buy
“Clients won’t pay”
Before you can add value, you d b bl ll h lneed to be able to sell that value
Activity
What are some of the words that come to mind when you think of come to mind when you think of
‘selling’ or ‘sales person’?g p
CommunicationCommunication
The problem in h ld d i the world today is communication communication.
Too much Too much communication.
The problem in h ld d i the world today is communication communication.
Too much Too much communication.
Selling is the communication Selling is the communication of value one-to-oneof value, one to one.
Selling is persuasion Selling is persuasion, one-to-oneone to one.
Marketing is the Marketing is the communication of value communication of value,
one-to-many.one to many.
Marketing is persuasion Marketing is persuasion, one-to-manyone to many.
So what is value?So what is value?
The drill bitThe hole
The value is the resultThe value is the resultthe client getsthe client gets
Are these Are these important skills important skills in business?
Communication?Communication?Sales/Selling?Marketing?
They are core skills for a They are core skills for a successful businesssuccessful business
CEO/MD
Sales & O i Admin &Sales & Marketing Operations Admin &
Finance
CEO/MD
SKILLS GAP O i Admin &SKILLS GAP Operations Admin & Finance
UCUCThe level of mastery
CCYou know you know CCYou know you know
CI You know you don’t knowCI You know you don t know
UI You don’t even know you don’t knowUI y
Psychology Skills SystemsPsychology Skills Systems
Clients happily paying for additional
killsWanting to
provide more
services
Sale
s Sprovide more
services to clients
ng a
nd clients
Mar
keti
M
11Client Share©
2Purpose6Positioning 26Preparation
35Preparation
3Profile5People
4Product & Pricing4g
11Client Share©
Calculate the firm’s current Client Share©
The baseline for measuring improvementOther KPIs will also be monitoredOther KPIs will also be monitored
2Purpose2Porter’s 3 Generic StrategiesDecide on one of themDecide on one of themWill guide all decisions
Define characteristics of ideal clients
3Analyse existing clientsClear target market 3ProfileClear target marketand ‘personas’
Clearly define existing and future productsConsider service level packages (‘bundles’)Decide on pricing structure and policyDecide on pricing structure and policy
4Product & Pricing4g
Pop Quiz
How many separate ‘products’(named services) do you think(named services) do you thinkthe firm currently provides?
There will be a prize when we get to Step 4 in the process
f for the closest guess
P fil b ibProfile team members on attributesComplete Products/Competencies Matrixp pIdentify skills development opportunities
55People
High Technical Skills
High Communication
Grinding Minding
LowCommunication Communication
SkillsReminding Finding
Communication Skills
g g
Low Technical Skills
6Positioning6Map current market positioningIdentify desired market positioningIdentify desired market positioningArticulate the firm’s differentiation strategy
Proper preparation fprevents poor performance.
The difference between ffpreparation and performance is
the risk of failure and the thrill of rewardand the thrill of reward.
11Promote
2Proact6Project 26Performance
35Performance
3Propose5Protect
4Produce4
11Promote
One-to-many communicationEducate and add value to existing clientsEngage clients in a dialogueEngage clients in a dialogueUse new media: blogging, email marketing, webinars, micro-blogging, screencasting
2Proact2Systemise proactively inviting clients inEach client will have a calendar of key datesEach client will have a calendar of key datesMeetings will relate to planning seasons f d d ifor engaged or proposed services
Engagement, proposals, selling skills
3Psychology and skillsSystems for effectively 3ProposeSystems for effectivelyengaging clients
Delivering on your promisesPerformance matters only in relation to clients’ expectationsrelation to clients expectations
4Produce4
Educating clients on the value deliveredReinforcing the benefits receivedReinforcing the benefits receivedThanking clients and asking for feedback
55Protect
6Project6Projecting the client’s future roadmapOutlining steps over next 12 monthsOutlining steps over next 12 monthsRe-sell client on value of firm’s approachEngage/Re-engage at appropriate level
The Practice Paradox™Those services which would
deliver the most value to clients deliver the most value to clients and to the firm, accounting firms and to the firm, accounting firms
don’t know how to sell.
The Practice Paradox™These are services the firm is
already capable of deliveringalready capable of delivering.You already have clients who You already have clients who need and want these services.
The Paradox™ Process12 Step process to bridge the gap between what the firm is gap between what the firm is
capable of delivering and what capable of delivering and what the firm is delivering to clients.
The Paradox™ ProcessThe fundamental measure of
progress will be Client Share©progress will be Client Share©.
Question
What benefits do you see flowing from working more closely with clients? working more closely with clients?
Include the perspectives of clients, the firm and you personallythe firm, and you personally
What’s in it for you?What s in it for you?
More meaningful and engaging workCareer and skill developmentCareer and skill developmentMaking a greater difference in clients’ livesGet to know your clients betterMore client referralsMore client referralsMore fun
Our next steps togetherOur next steps together
Ask your feedback on today’s session– Quick poll – I will email of you a linkQ p y
How can the firm help clients more?I’ll b k h f b– I’ll be asking each of you on a one-to-one basis
– About the opportunities and the potential obstacles
– I’ll be asking some clients of the firm
Then we’ll move into Step 1 … ClientShare©p
