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A good hard look

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  • 1. 1  ©  Barolsky  Advisors,  2013   ©  2009  Beaton  Research  and  Consul=ng  Pty  Ltd     A  Good  Hard  Look   A  strategic  audit  of  your  firm's  cri7cal  client  rela7onships       A  profit  growth  ini=a=ve  for  professional   service  firms  offered  by  Barolsky  Advisors
  • 2. 2  ©  Barolsky  Advisors,  2013   "Insanity:  doing  the  same  thing  over  and  over   again  and  expec6ng  different  results."     Albert  Einstein  
  • 3. 3  ©  Barolsky  Advisors,  2013   Some  ques7on  to  consider   •  Are  cobwebs  the  only  things     growing  around  some  of  your   "Growth"  clients?     •  Are  some  of  your  client     rela=onships  you've  designated  as  "Rising  Stars"  or  "Future   Leaders"  or  equivalent  stagnated  or  even  declined?   •  Are  you  are  just  doing  the  same  things  year  in  and  year  out   and  somehow  expec=ng  a  significant  leap  in  revenue  or   profits?   •  It's  just  crazy,  according  to  Einstein,  to  expect  different   results  when  you're  doing  the  same  thing  over  and  over   again.  
  • 4. 4  ©  Barolsky  Advisors,  2013   A  new  service  from  Barolsky  Advisors   •  Barolsky  Advisors  is  offering  a  new  service  called  A   Good  Hard  Look  which  aims  to:     1.   Audit  stalled  growth  client  rela=onships   2.   Recalibrate  goals  and  expecta=ons   3.   Advise  on  the  changes  to  strategy,  people  and   processes  necessary  to  achieve  superior  outcomes    
  • 5. 5  ©  Barolsky  Advisors,  2013   A  fresh,  independent  and  validated  approach   The  dis=nc=ve  elements  of  this  service  include:   –  A  fresh  and  independent  view  on  how  to  take  the  firm-­‐client   rela=onship  to  the  next  level   –  A  holis=c  approach  covering  mul=ple  perspec=ves     –  Validated  ques=ons,  "lenses"  and  analy=cal  tools   –  An  approach  that  engenders  stakeholder  buy-­‐in     A  Good  Hard  Look  will  deliver  a  list  of  priori7sed   opportuni7es  and  specific  ac7on  items  to  achieve   superior  outcomes.    
  • 6. 6  ©  Barolsky  Advisors,  2013   Our  approach  takes  into  account  the  stage  in  rela7onship   lifecycle  and  your  longer-­‐term  strategic  intent   Time   Value   created   for  your   firm   and   the  client  
  • 7. 7  ©  Barolsky  Advisors,  2013   Strategic  audit  of  firm-­‐client  rela7onship  undertaken   from  five  perspec7ves  or  lenses  [1  of  2]   1.  The  context  of  the  rela0onship,  including  client  industry  trends,  the   client's  corporate  and  business  strategy,  their  values  and  culture,   their  future  capex  and  opex  spend,  their  in-­‐source/outsource   strategy,  and  the  nature  and  intensity  of  compe==on  faced  by  the   firm   2.  The  client's  specific  needs  and  expecta0ons,  including  iden=fying  the   buying  unit,  their  KPIs,  their  value  drivers,  value  destroyers,   emerging  issues  and  future  needs   3.  The  client’s  percep0ons  of  the  firm,  including  their  views  on  the   firm’s  current  exper=se,  service,  people,  pricing  and  value,  the   strength  and  breadth  of  the  person-­‐to-­‐person  rela=onships,  their   willingness  to  consider  the  firm  as  a  provider  across  other  prac=ces   and  loca=ons,  and  the  firm's  poten=al  role  in  addressing  other   unmet  needs  
  • 8. 8  ©  Barolsky  Advisors,  2013   Strategic  audit  of  firm-­‐client  rela7onship  undertaken   from  five  perspec7ves  or  lenses  [2  of  2]   4.  The  strategies  and  tac0cs  used  to  develop  the  rela0onship,  including   what’s  been  tried  and  what  hasn’t,  what’s  worked  and  what  hasn’t,   what  the  key  financial  and  opera=ons  metrics  tell  us,  and  the   proposed  game  plan  for  the  next  12  to  18  months   5.  The  people  and  processes  involved,  including  the  skills,  confidence   and  drive  of  the  Client  Rela=onship  Partner/Rela=onship  Manager   and  Client  Team,  and  the  internal  systems  and  processes  used  to   prepare,  execute  and  review  their  plan  
  • 9. 9  ©  Barolsky  Advisors,  2013   #4  Strategy  and  tac7cs  –  example  of  audit  tool     UNDERSTANDING              RELIABILITY              VALUE              AFFINITY  +   +   +   COMPLACENCY   =   A  TRUSTING  RELATIONSHIP   Refer  to  Rela=onship  Capital  blog  for  more  detail   What  strategies  and  tac6cs  are  [1]  currently  used   and  [2]  planned  for,  on  these  five  drivers  of  a   trus6ng  rela6onship?  
  • 10. 10  ©  Barolsky  Advisors,  2013   #5  People  and  processes  –  example  of  strategic  audit   tool     Gets  input  from  the  right  players   to  the  plan   Devises  new  ideas  and  fresh  approaches   to  create  more  value  for  both  par=es   Crals  a  compelling  and  expansive  vision  for  this   client  and  a  clear  game  plan  to  achieve  it   Visualises  a  future  "zippered"  rela=onship   with  many  mul=-­‐level  contacts   Constantly  deepens  understanding     of  client’s  business  and  industry   Reads  organisa=onal  culture  and  poli=cs   really  well  –  both  firm’s  and  client’s   Readily  iden=fies  people’s  hot-­‐ bumons  and  personal  needs   Has  in-­‐depth  knowledge  of  our     business  and  who  is  good  at  what     An=cipates  issues  ahead   and  takes  ac=on  now     Commits  =me,  energy  and  re-­‐   sources  necessary  to  achieve  goals   Recovers  well  from   set-­‐backs  and  persists   Disciplined  in  following  through   on  agreed  ac=ons   Has  no  call  reluctance   Builds  trust  by  good  judgment  and   ac=ng  reliably  and  with  integrity   Inspires  people  by  speaking  passionately   about  the  client  and  our  offer   Gracefully  transforms  the  mood  of   each  mee=ng  to  his/her  advantage   Responds  brilliantly  to  client’s  concerns  and   nego=ates  win-­‐win  outcomes   Is  comfortable  having  strategic   conversa=ons  with  C-­‐suite   Key   competencies   of  a  great  CRP/     Rela6onship   Manager  
  • 11. 11  ©  Barolsky  Advisors,  2013   A  Good  Hard  Look  –  typical  process,  but  usually   tailored  for  each  client     Set-­‐up   Data  and   doc   analysis   Internal   interviews   Client   interviews   Synthesis   Workshop   R'ship   and  profit   opport-­‐ unity   ac=on   plan  
  • 12. 12  ©  Barolsky  Advisors,  2013   Tailoring  the  approach   •  Barolsky  Advisors  is  happy  to  tailor  the  approach  to  suit   your  specific  needs.  This  tailoring  may  address  or  include:   –  Varying  the  number  and  format  of  interviews     –  Co-­‐crea=ng  the  audit  process  with  firm  representa=ves   –  Tailoring  the  deliverables  to  ensure  outcomes  are  reflected  in   client  plans   –  Changing  ques=ons  asked  of  clients  to  fit  with  current  surveys   –  Working  with  exis=ng  360  degree  or  performance  management   data  to  assess  client  management  competencies   –  Adap=ng  the  process  to  include  training,  development  and   coaching  elements   –  Development  of  long-­‐term  Rela=onship  Capital  scorecards  and   tracking  KPIs   –  Advice  on  client  development  strategy  
  • 13. 13  ©  Barolsky  Advisors,  2013   Lead  consultant:  Joel  Barolsky   •  Joel  Barolsky  is  Managing  Director  of  Barolsky  Advisors,     Senior  Fellow  of  the  University  of  Melbourne  and     Associate  of  Mt  Eliza  Execu=ve  Educa=on.   •  Joel  is  interna=onally  recognised  as  an  outstanding  advisor,     facilitator  and  educator  to  professional  service  firms,  prac=ce     teams  and  client  rela=onship  partners.  He  is  an  expert  in     business  strategy,  client  rela=onship  strategy,  marke=ng.   business  development  and  pricing.  His  facilita=on  style  is  engaging,  passionate,   sensi=ve  and  outcome-­‐focused.  Joel  has  spoken  at  numerous  industry   conferences  and  is  frequently  quoted  in  the  professionals  services  press.   •  For  16  years,  Joel  was  a  Principal  at  Beaton  Research  &  Consul=ng,  Australia’s   leading  advisor  to  professional  service  firms.   •  Joel  has  consul=ng  with  over  100  of  Australia’s  top  professional  service   organisa=ons.  Over  70%  of  his  client  are  repeat  clients  or  come  directly  from   referrals  from  exis=ng  clients.   •  In  2012,  Joel  launched  the  highly  successful  Rela=onship  Capital  blog  which   provides  fresh  insights  in  how  to  grow  cri=cal  client  rela=onships.  
  • 14. 14  ©  Barolsky  Advisors,  2013   Interested?   Please  contact  Joel  on  0417  305  880  or   joel.barolsky@barolskyadvisors.com