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Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
09.45 Who switched the lights out? Part 1
IAN FLETCHER , GORDON GILCH...
Engines of Future Growth
2020 Spring Conference 2014
14.00 More clients please….
DAMIEN GREATHEAD
15.00 Break
15.30 The es...
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
The Value to you of being here is to:
 “Retain existing clients, bui...
Engines of Future Growth
2020 Spring Conference 2014
 New services and products
 Unlimited CPD webinars
 Marketing news...
Engines of Future Growth
2020 Spring Conference 2014
2014 Focus:
 Directors and SME tax and business planning
 Extend yo...
Engines of Future Growth
2020 Spring Conference 2014
 General Insurance
 Tax Planning
 Wealth Management
 SME Planning
Engines of Future Growth
2020 Spring Conference 2014
 Our nationwide team comprises newly
retired partners of mid-tier fi...
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
 Current Industry trends – the “Haves” and “Have nots”
 Your strate...
Engines of Future Growth
2020 Spring Conference 2014
 Survival
 New start ups
 Price focussed
 No differentiation
 Li...
Engines of Future Growth
2020 Spring Conference 2014
 Focus on service
 Wide range of services
 Specialists
 Access to...
Engines of Future Growth
2020 Spring Conference 2014
 More new practices than ever = Competition
 IRIS survey* – 60% con...
Engines of Future Growth
2020 Spring Conference 2014
Competitive compliance services
 Cheaper, quicker, faster, better
 ...
Engines of Future Growth
2020 Spring Conference 2014
 New strings to the bow – see part 2
 Trusted adviser
 Tax plannin...
Engines of Future Growth
2020 Spring Conference 2014
People
 Not enough supply to reach demand
 Shortage of accountants
...
Engines of Future Growth
2020 Spring Conference 2014
 Marketing upsurge
 Pull vs push
 Merger/acquisition
 Critical ma...
Engines of Future Growth
2020 Spring Conference 2014
1.Years to retirement / exit (if applicable)
2.Type of practice
3.Ser...
Engines of Future Growth
2020 Spring Conference 2014
5. Estimated value of practice
 Now
 In five years
6. Growth object...
Engines of Future Growth
2020 Spring Conference 2014
7. Market position
 Target market
 Competition
8. Unique selling po...
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
 Remote access/work from anywhere facility –
watch the weather!
 Ch...
Engines of Future Growth
2020 Spring Conference 2014
 Annual billing and WIP <30 days –
How is this possible ?
 Client S...
Engines of Future Growth
2020 Spring Conference 2014
2 key benchmarks in practice:
1. Chargeable hour bonus and charge out...
Engines of Future Growth
2020 Spring Conference 2014
Before After year 1 After year 2
Number of Fee Earners 14 14 14
Fee E...
Engines of Future Growth
2020 Spring Conference 2014
Chargeable hour bonus:
Increase in chargeable hours
X
Charge out rate...
Engines of Future Growth
2020 Spring Conference 2014
Do you think your accountancy fees are:
Low Fair Excessive
Before 6% ...
Engines of Future Growth
2020 Spring Conference 2014
Do you understand your accountancy fees?
Yes Sometimes Never
Before 4...
Engines of Future Growth
2020 Spring Conference 2014
Clients understanding fees
 Client Education Checklist
 Agenda befo...
Engines of Future Growth
2020 Spring Conference 2014
“People will do that what they
are rewarded for”
Peter Drucker
Engines of Future Growth
2020 Spring Conference 2014
Staff appraisals in line with business plan
Turnover
 Chargeable hou...
Engines of Future Growth
2020 Spring Conference 2014
Staff appraisals in line with business plan
Lock up
 Turnaround time...
Engines of Future Growth
2020 Spring Conference 2014
Rewarding for achieving important goals
 Chargeable hours
 Cross se...
Engines of Future Growth
2020 Spring Conference 2014
Rewarding for achieving important goals
 Client referrals - Client t...
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
 Latest 2020 research on understanding client
needs and wants
 Beco...
Engines of Future Growth
2020 Spring Conference 2014
2013-2014 client satisfaction survey results
(recently updated):
The ...
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
 Breakdown of fees
 Regular contact
 Promptness
 Pro active
 How...
Engines of Future Growth
2020 Spring Conference 2014
 Pre work education
 Accounts Education Checklist
“Is it OK if I sp...
Engines of Future Growth
2020 Spring Conference 2014
 Many firms are USELESS at this!
 Clients want your help – they EXP...
Engines of Future Growth
2020 Spring Conference 2014
By which method do you prefer to receive news and
updates about the f...
Engines of Future Growth
2020 Spring Conference 2014
How frequently would you like to receive news and
updates about the f...
Engines of Future Growth
2020 Spring Conference 2014
 Programme for communication
 Partner or dedicated customer care pe...
Engines of Future Growth
2020 Spring Conference 2014
 The Innovator – NEW tax articles from
EDF on a range of topical tax...
Engines of Future Growth
2020 Spring Conference 2014
 Is a perception!
 Before, during and after
 Fee earners – the gol...
Engines of Future Growth
2020 Spring Conference 2014
Clients are saying that with all the rules,
regulations and laws surr...
Engines of Future Growth
2020 Spring Conference 2014
 You MUST widen your range from
type 1 to type 2
 Why?
 Type 1 ser...
Engines of Future Growth
2020 Spring Conference 2014
 Tax planning?
 Wealth management?
 Mortgages and general insuranc...
Engines of Future Growth
2020 Spring Conference 2014
 Targeted
 Pre year end
 HMRC led
 Ad hoc
Do not become a “Jack o...
Engines of Future Growth
2020 Spring Conference 2014
 R & D Tax Credits
 CA on property (topical now)
 Find out if your...
Engines of Future Growth
2020 Spring Conference 2014
 Basic planning is about communication
 -3 months before the year e...
Engines of Future Growth
2020 Spring Conference 2014
 Enquiries and Investigations
 PAYE / VAT etc. compliance visits
 ...
Engines of Future Growth
2020 Spring Conference 2014
 Tax strategies
 Reputable supplier?
 Due diligence
 IMPORTANT – ...
Engines of Future Growth
2020 Spring Conference 2014
 Watch 2020 webinar programme
 The key to your future success
 Rev...
Engines of Future Growth
2020 Spring Conference 2014
 Auto enrolment
 Clients need help – refer EARLY use the 2020
Auto ...
Engines of Future Growth
2020 Spring Conference 2014
 20% off Towergate's income – G.I.
 Widens your service offering
 ...
Engines of Future Growth
2020 Spring Conference 2014
 Clients want a wide range of
Proactive advice
 The key is your tea...
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
Push:
 Seller led
 1-Way
 Interruptive
 Repetitive
 Outbound
 F...
Engines of Future Growth
2020 Spring Conference 2014
Pull
 Customer led
 Research
 Interactive
 Reputation
 Inbound
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
You need to control how your customers
and prospective customers thin...
Engines of Future Growth
2020 Spring Conference 2014
Web
Footprint
Content
Activity
Reputation
Engines of Future Growth
2020 Spring Conference 2014
Investment in
Content
Marketing &
Earned Media
Engines of Future Growth
2020 Spring Conference 2014
Video
 YouTube
 Answer FAQs
 Web footprint
Engines of Future Growth
2020 Spring Conference 2014
Blogs
 FAQs
 1 per week
 Repurpose content
 Interviews/Podcasts/V...
Engines of Future Growth
2020 Spring Conference 2014
 Social Media in 10 minutes
 Share
 Like
 Follow
 Retweet
 What...
Engines of Future Growth
2020 Spring Conference 2014
 Reputation
 Testimonials 2.0
 5+ calls/week
 Web footprint
 But...
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
 You MUST be MOBILE
 57% WON’T recommend
companies with a poor
mobi...
Engines of Future Growth
2020 Spring Conference 2014
• Visits, fans, followersReach
• Shares, Comments, LikesAct
• Downloa...
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
Automatically!
 Drip, drip, drip
 Create the campaign
 Fire and fo...
Engines of Future Growth
2020 Spring Conference 2014
Register
 Welcome to the firm
 Newsletter
 Download a free report
...
Engines of Future Growth
2020 Spring Conference 2014
Register:
Newsletter
Day 1: Welcome
Day 4: Industry Report
Day 12: To...
Engines of Future Growth
2020 Spring Conference 2014
Direct Mail
Newsletters
Telemarketing
Pop-Up Ads
Yell.com
Advertising...
Engines of Future Growth
2020 Spring Conference 2014
Direct Mail Works
 Target the Audience
 Unique Call to Action
 57 ...
Engines of Future Growth
2020 Spring Conference 2014
Email Newsletters
 Target the audience
 Unique Call to Action
 57 ...
Engines of Future Growth
2020 Spring Conference 2014
 Seminars
 Regular – monthly or quarterly
 Back of the room offer
...
Engines of Future Growth
2020 Spring Conference 2014
You need a strategy
 A blended approach: Push AND Pull
 Coordinated...
Engines of Future Growth
2020 Spring Conference 2014
 MUST be DEDICATED
 Marketing Assistant/ Coordinator/ Director
 Ge...
Engines of Future Growth
2020 Spring Conference 2014
 Build Your Web Foot Print
 Blend Push and Pull Tactics
 Content i...
Engines of Future Growth
2020 Spring Conference 2014
 Gartner Report
Nexus of Forces
(June 2012)
 Four key areas
converging and
overlapping
Engines of Future Growth
2020 Spring Conference 2014
 Mobile!
 Biggest change to the way we live
 Mobile devices – lapt...
Engines of Future Growth
2020 Spring Conference 2014
 The office equivalent of the Swiss Army
Knife?
 ………………………?
 The i...
Engines of Future Growth
2020 Spring Conference 2014
 Faxes – eFax.co.uk
 Take payments – next slides
 Notes – handwrit...
Engines of Future Growth
2020 Spring Conference 2014
 HopTo – edit Microsoft documents on iPad –
files in DropBox or on P...
Engines of Future Growth
2020 Spring Conference 2014
 Google Wallet – allows Android users to
pay for purchases online an...
Engines of Future Growth
2020 Spring Conference 2014
 Take Credit Cards
on your mobile device
 iZettle
 Intuit Pay
 Pa...
Engines of Future Growth
2020 Spring Conference 2014
 Credit Cards on your website
 Credit cards – on your iPad / iPhone...
Engines of Future Growth
2020 Spring Conference 2014
 GOCARDLESS
 Set up in 5 minutes!
 Integration with Xero and
now S...
Engines of Future Growth
2020 Spring Conference 2014
 Aurasma – augmented reality
 Business use – see
partners on web pa...
Engines of Future Growth
2020 Spring Conference 2014
 Glover Stanbury & Co
 QR Code
 Aurasma
Engines of Future Growth
2020 Spring Conference 2014
 PowerPoint – save as video file then use
Microsoft Movie Maker – fr...
Engines of Future Growth
2020 Spring Conference 2014
 Google Search in
iTunes
 Image recognition
app
 Search internet b...
Engines of Future Growth
2020 Spring Conference 2014
 How mobile friendly are you –
or your clients?
 Is your website mo...
Engines of Future Growth
2020 Spring Conference 2014
 Facebook
“Check in”
 Appear in friend’s
feeds
 FourSquare
Engines of Future Growth
2020 Spring Conference 2014
 Social Media
 Facebook Fans
www.socialbakers.com
also visit for Tw...
Engines of Future Growth
2020 Spring Conference 2014
 Average age of Facebook users?
Depends where you look….41
 Average...
Engines of Future Growth
2020 Spring Conference 2014
 Populate Facebook (company page),
Twitter, Google+ and LinkedIn (co...
Engines of Future Growth
2020 Spring Conference 2014
 Feeds -news, blogs, video, photos….
 Collate/aggregate feeds from ...
 Recommended Book
 http://bit.ly/bussocial
(Kindle)
 Michelle Carvill –
Made Simple Group
Engines of Future Growth
2020 Spring Conference 2014
 Cloud is everywhere – and
for everyone
 Storing and accessing data...
Engines of Future Growth
2020 Spring Conference 2014
 Who is not using at least
one “cloud” application?
 By end of 2013...
Engines of Future Growth
2020 Spring Conference 2014
Replace:
 Software
 File storage
 Email servers and exchange
 Pla...
Engines of Future Growth
2020 Spring Conference 2014
 Superfast Broadband
 Check at:
www.superfast-openreach.co.uk/where...
Engines of Future Growth
2020 Spring Conference 2014
 Google Apps vs. MS Office 365..?
 Comparison chart – downloadable ...
Engines of Future Growth
2020 Spring Conference 2014
 Zapier https://zapier.com
 Over 250 cloud products
 Automate task...
Engines of Future Growth
2020 Spring Conference 2014
 Big Data is the term for a collection of data
sets so large and com...
Engines of Future Growth
2020 Spring Conference 2014
 Every Minute….
 Infographic
http://bit.ly/18JQ66O
 Google – 2m se...
Engines of Future Growth
2020 Spring Conference 2014
 Tesco – 15 years
research
 Monitor weather
 Temperature goes from...
Engines of Future Growth
2020 Spring Conference 2014
 “Big Data” for Small Businesses
and Consumers
 Accountingweb.com (...
Engines of Future Growth
2020 Spring Conference 2014
 BusinessToolsPlus.co.uk
 Database of products, software, books, hi...
Engines of Future Growth
2020 Spring Conference 2014
 IT for the small accounting
practice - ICAEW
 http://bit.ly/SV0rWZ
Engines of Future Growth
2020 Spring Conference 2014
 Created by The ICAEW IT Faculty
 A set of resources to help all th...
Engines of Future Growth
2020 Spring Conference 2014
 Improving efficiencies in the
accounting practice
 Paperback
http:...
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
Slight Edge Theory
JDI
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
 Be clear about the goals
 (And they know about the specific activi...
Engines of Future Growth
2020 Spring Conference 2014
Focus on the “Wildly Important”
 Common Thinking:
We can effectively...
Engines of Future Growth
2020 Spring Conference 2014
 Important Goal
A goal with significant consequence or value.
 Wide...
Engines of Future Growth
2020 Spring Conference 2014
 Identify what’s widely important
 Focus significant activity and r...
Engines of Future Growth
2020 Spring Conference 2014
“I believe that this nation should commit itself
to achieving the goa...
Engines of Future Growth
2020 Spring Conference 2014
I believe we possess all the resources and talents necessary. But the...
Engines of Future Growth
2020 Spring Conference 2014
“I have never encountered an executive who
remains effective while ta...
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
Firm Level WIGs
3 WIGs2 WIGs3 WIGs
Financial
Services
Auditing & Acco...
Engines of Future Growth
2020 Spring Conference 2014
 Create a compelling scorecard
 Have a highly visible scoreboard of...
Engines of Future Growth
2020 Spring Conference 2014
Create a compelling Scoreboard
 Common Thinking:
Once we have commun...
Engines of Future Growth
2020 Spring Conference 2014
 Lagging - measures provide an historical look at past
performance.
...
Engines of Future Growth
2020 Spring Conference 2014
Lag Measure Lead Measure
Predictive of the Goal
Easier to Influence
M...
Engines of Future Growth
2020 Spring Conference 2014
Personal Scoreboard for Jeff Pawlow
Recovery Debtor Aging
Engines of Future Growth
2020 Spring Conference 2014
Think Differently and Translate New Goals
Into Specific Actions
 Thi...
Engines of Future Growth
2020 Spring Conference 2014
Common Thinking:
 The best ideas come from the leaders.
 If people ...
Engines of Future Growth
2020 Spring Conference 2014
Key Questions…
 Do you think “new and better”?
 What are the three ...
Engines of Future Growth
2020 Spring Conference 2014
 “New and Better”
 Einstein’s definition of Insanity?
"Insanity: do...
Engines of Future Growth
2020 Spring Conference 2014
Is your week happening to YOU…
or are YOU happening to your
week?
Engines of Future Growth
2020 Spring Conference 2014
M T W Th F Sa Su
Engines of Future Growth
2020 Spring Conference 2014
M T W Th F Sa Su
Engines of Future Growth
2020 Spring Conference 2014
3 Team Goals
1
2
3
1_______________
Increase Number of
Referral So...
Engines of Future Growth
2020 Spring Conference 2014Discipline 4
Hold each other accountable all the time
 Have a process...
Engines of Future Growth
2020 Spring Conference 2014Discipline 4 - Accountability
Common Thinking:
As long as goals are cl...
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
Clear about
“the goal”
They do it
know activities
and actions
1. Focu...
Engines of Future Growth
2020 Spring Conference 2014
Clear about
“the goal”
They do it
know activities
and actions
1. Focu...
Engines of Future Growth
2020 Spring Conference 2014
Clear about
“the goal”
They do it
know activities
and actions
1. Focu...
Engines of Future Growth
2020 Spring Conference 2014
Clear about
“the goal”
They do it
know activities
and actions
1. Focu...
Engines of Future Growth
2020 Spring Conference 2014
Goals
Score Carding
Specific Actions
Accountability
Engines of Future Growth
2020 Spring Conference 2014
47
“We must all inevitably suffer from
one of two pains. Either the p...
Engines of Future Growth
2020 Spring Conference 2014
159
“The critical ingredient is getting off your butt
and doing somet...
Engines of Future Growth
2020 Spring Conference 2014
“The nicest thing about not planning is that
failure comes as a compl...
Engines of Future Growth
2020 Spring Conference 2014
Engines of Future Growth
2020 Spring Conference 2014
Are they clear
about “the
goal”?
Do they know what is
most important?...
Engines of Future Growth
2020 Spring Conference 2014
Are they clear
about “the
goal”?
Do they know what to do
and how to d...
Engines of Future Growth
2020 Spring Conference 2014
Are they clear
about “the
goal”?
Are they committed to the goal
and t...
Engines of Future Growth
2020 Spring Conference 2014
Are they clear
about “the
goal”?
Do we make it easy
for them?
1. Clar...
Engines of Future Growth
2020 Spring Conference 2014
Are they clear
about “the
goal”?
Do we work effectively
together?
1. ...
Engines of Future Growth
2020 Spring Conference 2014
Are they clear
about “the
goal”?
Do we hold each other accountable
al...
Engines of Future Growth
2020 Spring Conference 2014
6 root causes for failing to implement
Clarity
Specific
Actions
Leads...
Engines of Future Growth
2020 Spring Conference 2014
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2020 Spring Conference 2014 - Engines of Future Growth

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The 2020 Spring Conference took place on 6th March 2014 at the Ricoh Arena, Coventry with Managing Director Ian Fletcher, Gordon Gilchrist - Marketing Director, both of 2020 Innovations and guest speakers Damien Greathead from 2020 USA and Kevin Salter from computer consultancy BBS Computing. Here's a brief summary of what was covered.

What's new to help you in 2014
Ian and Gordon looked at current industry trends, what the most innovative 2020 firms do differently and key benchmarks to measure growth and profitability.

In the second part of the session 'Who switched the lights out' Gordon, Ian and Damien looked at ways to become the 'one stop shop' that clients are demanding, new income streams to accelerate growth and staying ahead of your competitors.

The afternoon session kicked off with a presentation by Damien entitled 'More Clients Please' outlining the shift from 'push' to 'pull' marketing and what is possible on the social media platform. Damien also emphasised the importance of maintaining your online presence and reputation, and the ways to achieve this.

Kevin presented an essential IT update on the latest developments you should be aware of and power tools for accountants.

Gordon's closing session considered flawless execution, the slight edge theory and getting things done!

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Transcript of "2020 Spring Conference 2014 - Engines of Future Growth"

  1. 1. Engines of Future Growth 2020 Spring Conference 2014
  2. 2. Engines of Future Growth 2020 Spring Conference 2014
  3. 3. Engines of Future Growth 2020 Spring Conference 2014 09.45 Who switched the lights out? Part 1 IAN FLETCHER , GORDON GILCHRIST AND DAMIEN GREATHEAD 10.45 Break 11.10 Who switched the lights out? Part 2 12.50 Unique selling points of our exhibitors IAN FLETCHER AND GORDON GILCHRIST 13.00 Lunch and exhibition time
  4. 4. Engines of Future Growth 2020 Spring Conference 2014 14.00 More clients please…. DAMIEN GREATHEAD 15.00 Break 15.30 The essential IT update IAN FLETCHER AND KEVIN SALTER 16.00 Flawless execution – there is “DO and “NOT DO” GORDON GILCHRIST 16.45 Closing remarks and top takeaways
  5. 5. Engines of Future Growth 2020 Spring Conference 2014
  6. 6. Engines of Future Growth 2020 Spring Conference 2014 The Value to you of being here is to:  “Retain existing clients, build loyalty by offering them new and innovative products and services and get new clients.”  We want to help you to be “Different” from the other grey suits!
  7. 7. Engines of Future Growth 2020 Spring Conference 2014  New services and products  Unlimited CPD webinars  Marketing newsletters and materials
  8. 8. Engines of Future Growth 2020 Spring Conference 2014 2014 Focus:  Directors and SME tax and business planning  Extend your value proposition to clients by offering next generation solutions
  9. 9. Engines of Future Growth 2020 Spring Conference 2014  General Insurance  Tax Planning  Wealth Management  SME Planning
  10. 10. Engines of Future Growth 2020 Spring Conference 2014  Our nationwide team comprises newly retired partners of mid-tier firms  Practice leaders as principals, with a generation of experience  Online database of active firms
  11. 11. Engines of Future Growth 2020 Spring Conference 2014
  12. 12. Engines of Future Growth 2020 Spring Conference 2014  Current Industry trends – the “Haves” and “Have nots”  Your strategy for success - Target setting and making changes  What the most innovative 2020 firms do differently from the rest  Key benchmarks to measure your growth and profitability  Proven practice management techniques to get the best out of you and your team
  13. 13. Engines of Future Growth 2020 Spring Conference 2014  Survival  New start ups  Price focussed  No differentiation  Limited range of services
  14. 14. Engines of Future Growth 2020 Spring Conference 2014  Focus on service  Wide range of services  Specialists  Access to capital  Quality team  Culture for success
  15. 15. Engines of Future Growth 2020 Spring Conference 2014  More new practices than ever = Competition  IRIS survey* – 60% confident in clients growth (2012 – 40%)  72% Positive expectations  2014 Priority – 60% Growing their customer base  2020 Marketing conference – 22 May 2014  * 300 responses IRIS world 2013 customer conferences
  16. 16. Engines of Future Growth 2020 Spring Conference 2014 Competitive compliance services  Cheaper, quicker, faster, better  IT:  Remote access  Outsourcing  Online accounting, bookkeeping etc
  17. 17. Engines of Future Growth 2020 Spring Conference 2014  New strings to the bow – see part 2  Trusted adviser  Tax planning  Wealth management  General Insurance  One stop shop - ABS  Profit improvement  Corporate finance  Strategic planning
  18. 18. Engines of Future Growth 2020 Spring Conference 2014 People  Not enough supply to reach demand  Shortage of accountants  Keep your talented people
  19. 19. Engines of Future Growth 2020 Spring Conference 2014  Marketing upsurge  Pull vs push  Merger/acquisition  Critical mass  Joint ventures
  20. 20. Engines of Future Growth 2020 Spring Conference 2014 1.Years to retirement / exit (if applicable) 2.Type of practice 3.Services offered 4.Practice Size  Fees earned  Work in progress adjustment  Total income  Overheads  Net Profit
  21. 21. Engines of Future Growth 2020 Spring Conference 2014 5. Estimated value of practice  Now  In five years 6. Growth objectives  Fees  New services  New products  New markets  Value pricing opportunities  Number of fee earners
  22. 22. Engines of Future Growth 2020 Spring Conference 2014 7. Market position  Target market  Competition 8. Unique selling points  Distinctive services  Distinctive marketing  Distinctive partners  Distinctive client care
  23. 23. Engines of Future Growth 2020 Spring Conference 2014
  24. 24. Engines of Future Growth 2020 Spring Conference 2014  Remote access/work from anywhere facility – watch the weather!  Chargeable time, recoveries, fee income  Apply the principles of Disney model  Reward for cross selling and client testimonials  Big 4 & Top 20 shake outs – fertile land for talent
  25. 25. Engines of Future Growth 2020 Spring Conference 2014  Annual billing and WIP <30 days – How is this possible ?  Client Satisfaction Surveys, Interviews and/or Advisory Boards  Client portal technology  Social Media Platform and Staff policy
  26. 26. Engines of Future Growth 2020 Spring Conference 2014 2 key benchmarks in practice: 1. Chargeable hour bonus and charge out rates calculator 2. Clients being ok with the fees
  27. 27. Engines of Future Growth 2020 Spring Conference 2014 Before After year 1 After year 2 Number of Fee Earners 14 14 14 Fee Earners’ Average Charge Out Rate £45 £45 £50 Average Chargeable Hours 1200 1450 1450 Productive Time 756000 913500 1015000 Recoveries 86% 83% 81% Fee Income £650,160 £758,205 £822,150 Average Salaries £286,364 £286,364 £333,333 Bonus £0 £35,871 £0 £286,364 £322,235 £333,333 Gross Margin £363,796 £435,970 £488,817
  28. 28. Engines of Future Growth 2020 Spring Conference 2014 Chargeable hour bonus: Increase in chargeable hours X Charge out rate X Recovery percentage X 40%
  29. 29. Engines of Future Growth 2020 Spring Conference 2014 Do you think your accountancy fees are: Low Fair Excessive Before 6% 66% 28% After 3% 84% 13%
  30. 30. Engines of Future Growth 2020 Spring Conference 2014 Do you understand your accountancy fees? Yes Sometimes Never Before 43% 24% 33% After 71% 16% 13%
  31. 31. Engines of Future Growth 2020 Spring Conference 2014 Clients understanding fees  Client Education Checklist  Agenda before every meeting  Scope letter  30% Budget Rule
  32. 32. Engines of Future Growth 2020 Spring Conference 2014 “People will do that what they are rewarded for” Peter Drucker
  33. 33. Engines of Future Growth 2020 Spring Conference 2014 Staff appraisals in line with business plan Turnover  Chargeable hours and recoveries  Before, during and after - timeliness and fees  Cross selling - Agenda for the clients future  Tax, retirement, profit improvement, etc
  34. 34. Engines of Future Growth 2020 Spring Conference 2014 Staff appraisals in line with business plan Lock up  Turnaround time  30% Budget Rule  15 Minute review
  35. 35. Engines of Future Growth 2020 Spring Conference 2014 Rewarding for achieving important goals  Chargeable hours  Cross selling - Commissions available to ALL (Financial services, Insurance, Tax, payroll, online accounting, clients using the portal or APP)
  36. 36. Engines of Future Growth 2020 Spring Conference 2014 Rewarding for achieving important goals  Client referrals - Client testimonials and networking  Implementing agreed actions from appraisals to participate in bonus pot (however calculated)
  37. 37. Engines of Future Growth 2020 Spring Conference 2014
  38. 38. Engines of Future Growth 2020 Spring Conference 2014  Latest 2020 research on understanding client needs and wants  Becoming the “One Stop Shop” clients are demanding  New income streams to accelerate your growth  Staying ahead of your competitors
  39. 39. Engines of Future Growth 2020 Spring Conference 2014 2013-2014 client satisfaction survey results (recently updated): The BIG question: “Other than reduce fees, what can your Accountant do to improve the value for money of their service?”
  40. 40. Engines of Future Growth 2020 Spring Conference 2014
  41. 41. Engines of Future Growth 2020 Spring Conference 2014  Breakdown of fees  Regular contact  Promptness  Pro active  How do you stack up?
  42. 42. Engines of Future Growth 2020 Spring Conference 2014  Pre work education  Accounts Education Checklist “Is it OK if I spend a couple of minutes explaining the key steps in the process?”  Detailed time sheets (if applicable)  Before, during, after  Detailed fee notes  Regular billing procedures
  43. 43. Engines of Future Growth 2020 Spring Conference 2014  Many firms are USELESS at this!  Clients want your help – they EXPECT regular communication  Survey results
  44. 44. Engines of Future Growth 2020 Spring Conference 2014 By which method do you prefer to receive news and updates about the firm related to financial topics? 60% 35% 5% Email Newsletter Website
  45. 45. Engines of Future Growth 2020 Spring Conference 2014 How frequently would you like to receive news and updates about the firm related to financial topics? 30% 50% 20% Monthly Quarterly Only when relevant
  46. 46. Engines of Future Growth 2020 Spring Conference 2014  Programme for communication  Partner or dedicated customer care person?  Monthly telephone call and / or client visits  Annual / quarterly meetings – STRATEGY  Social media – Damien will cover off later  Outbound professionals DO BEST
  47. 47. Engines of Future Growth 2020 Spring Conference 2014  The Innovator – NEW tax articles from EDF on a range of topical tax issues  Read and forward to key clients  Quarterly client newsletter (paper)  Monthly tax and general newsletters (email)
  48. 48. Engines of Future Growth 2020 Spring Conference 2014  Is a perception!  Before, during and after  Fee earners – the golden rule  Under promise and over deliver!  Add a couple of requirements to your accounts and tax checklists
  49. 49. Engines of Future Growth 2020 Spring Conference 2014 Clients are saying that with all the rules, regulations and laws surrounding their business, they feel OUT OF CONTROL If you can add an element of stability and proactive advice to their lives … you will ADD VALUE and be able to offer a wider range of services to them
  50. 50. Engines of Future Growth 2020 Spring Conference 2014  You MUST widen your range from type 1 to type 2  Why?  Type 1 services are price dependent  Type 2 services are VALUE dependent  VALUE = PROFIT
  51. 51. Engines of Future Growth 2020 Spring Conference 2014  Tax planning?  Wealth management?  Mortgages and general insurance?  Payroll and management accounting?  Strategy days?  Others? The key is what ADDS VALUE to your clients!
  52. 52. Engines of Future Growth 2020 Spring Conference 2014  Targeted  Pre year end  HMRC led  Ad hoc Do not become a “Jack of all trades” – EGO vs RISK Build relationships with specialists
  53. 53. Engines of Future Growth 2020 Spring Conference 2014  R & D Tax Credits  CA on property (topical now)  Find out if your client meets criteria  As you prepare accounts extract information or review database as a separate exercise  Discuss with client
  54. 54. Engines of Future Growth 2020 Spring Conference 2014  Basic planning is about communication  -3 months before the year end – contact client and lay out options and offer planning meeting  DO YOU HAVE A SYSTEM?
  55. 55. Engines of Future Growth 2020 Spring Conference 2014  Enquiries and Investigations  PAYE / VAT etc. compliance visits  Changes in tax laws / case results  Tax fee protection  Specialist support essential
  56. 56. Engines of Future Growth 2020 Spring Conference 2014  Tax strategies  Reputable supplier?  Due diligence  IMPORTANT – educate yourselves on the options available, clients will expect you to know about these strategies  DO NOT PRE-JUDGE CLIENTS
  57. 57. Engines of Future Growth 2020 Spring Conference 2014  Watch 2020 webinar programme  The key to your future success  Revenue streams  Basic pension, protection and investments  Specific planning  YOU MUST KNOW ABOUT THE SPECIALIST AREAS OF PLANNING  They add huge value
  58. 58. Engines of Future Growth 2020 Spring Conference 2014  Auto enrolment  Clients need help – refer EARLY use the 2020 Auto enrolment action pack  Annuities  Pre retirement planning report  Final salary schemes  RPI or increased pension – project work
  59. 59. Engines of Future Growth 2020 Spring Conference 2014  20% off Towergate's income – G.I.  Widens your service offering  Low cost entry to you  Extract information as you do accounts  Ask client if they would like an alternative quote  John Charcol mortgages – similar arrangement
  60. 60. Engines of Future Growth 2020 Spring Conference 2014  Clients want a wide range of Proactive advice  The key is your team and systems for extracting the information from client files  Educate your team, let clients know about these services and refer on to a specialist
  61. 61. Engines of Future Growth 2020 Spring Conference 2014
  62. 62. Engines of Future Growth 2020 Spring Conference 2014 Push:  Seller led  1-Way  Interruptive  Repetitive  Outbound  Fast-Forward
  63. 63. Engines of Future Growth 2020 Spring Conference 2014 Pull  Customer led  Research  Interactive  Reputation  Inbound
  64. 64. Engines of Future Growth 2020 Spring Conference 2014
  65. 65. Engines of Future Growth 2020 Spring Conference 2014
  66. 66. Engines of Future Growth 2020 Spring Conference 2014 You need to control how your customers and prospective customers think and feel about your business in comparison to other, similar businesses competing for their attention. Dan Kennedy
  67. 67. Engines of Future Growth 2020 Spring Conference 2014 Web Footprint Content Activity Reputation
  68. 68. Engines of Future Growth 2020 Spring Conference 2014 Investment in Content Marketing & Earned Media
  69. 69. Engines of Future Growth 2020 Spring Conference 2014 Video  YouTube  Answer FAQs  Web footprint
  70. 70. Engines of Future Growth 2020 Spring Conference 2014 Blogs  FAQs  1 per week  Repurpose content  Interviews/Podcasts/Videos  Boosts SEO  67% Increase in leads! Farotech.com
  71. 71. Engines of Future Growth 2020 Spring Conference 2014  Social Media in 10 minutes  Share  Like  Follow  Retweet  What happens when you share?  Systemise it!
  72. 72. Engines of Future Growth 2020 Spring Conference 2014  Reputation  Testimonials 2.0  5+ calls/week  Web footprint  But…  Double edged
  73. 73. Engines of Future Growth 2020 Spring Conference 2014
  74. 74. Engines of Future Growth 2020 Spring Conference 2014
  75. 75. Engines of Future Growth 2020 Spring Conference 2014
  76. 76. Engines of Future Growth 2020 Spring Conference 2014  You MUST be MOBILE  57% WON’T recommend companies with a poor mobile website  1 in 4 searches are mobile  Responsive Design Source: http://www.mediabistro.com/alltwitter/mobile-marketing-stats_b54513
  77. 77. Engines of Future Growth 2020 Spring Conference 2014 • Visits, fans, followersReach • Shares, Comments, LikesAct • Download, request infoInteract • PurchaseConvert • Repeat, ReferEngage
  78. 78. Engines of Future Growth 2020 Spring Conference 2014
  79. 79. Engines of Future Growth 2020 Spring Conference 2014 Automatically!  Drip, drip, drip  Create the campaign  Fire and forget!  Monitor, measure, react
  80. 80. Engines of Future Growth 2020 Spring Conference 2014 Register  Welcome to the firm  Newsletter  Download a free report  Follow us on social media  Watch this video  Attend this webinar Clients Prospects Leads
  81. 81. Engines of Future Growth 2020 Spring Conference 2014 Register: Newsletter Day 1: Welcome Day 4: Industry Report Day 12: Top 10 Day 20: Video
  82. 82. Engines of Future Growth 2020 Spring Conference 2014 Direct Mail Newsletters Telemarketing Pop-Up Ads Yell.com Advertising Blogging Opt-In Public Speaking Pay-Per-Click Education Word-of-Mouth Pull Push
  83. 83. Engines of Future Growth 2020 Spring Conference 2014 Direct Mail Works  Target the Audience  Unique Call to Action  57 Ways to Grow Your Business  Industry Report  Free Download  Phone follow up
  84. 84. Engines of Future Growth 2020 Spring Conference 2014 Email Newsletters  Target the audience  Unique Call to Action  57 Ways to Grow Your Business  Industry report – ProfitCents  Very measureable
  85. 85. Engines of Future Growth 2020 Spring Conference 2014  Seminars  Regular – monthly or quarterly  Back of the room offer  Included in Fixed Price Agreement (FPA)  Leverage content  Webinars
  86. 86. Engines of Future Growth 2020 Spring Conference 2014 You need a strategy  A blended approach: Push AND Pull  Coordinated approach  Blogs, videos, offers, calls to action  Monthly/Quarterly themes Q 1 Q 2 Q 3 Q 4 Strategic Planning Insourcing Succession Planning Tax Planning
  87. 87. Engines of Future Growth 2020 Spring Conference 2014  MUST be DEDICATED  Marketing Assistant/ Coordinator/ Director  Get direct mail lists  Plan and coordinate letters, tax organisers & postcards  Get 57 Ways published  Get scripts to everyone  Schedule social media, connect, follow and promote  Get partners and managers to lunch  Write thank you cards  Track and report the numbers  Update the website
  88. 88. Engines of Future Growth 2020 Spring Conference 2014  Build Your Web Foot Print  Blend Push and Pull Tactics  Content is King  Systemize Social Media  Take Charge of Your Reputation  Be Mobile  Measure, Monitor, React
  89. 89. Engines of Future Growth 2020 Spring Conference 2014
  90. 90.  Gartner Report Nexus of Forces (June 2012)  Four key areas converging and overlapping
  91. 91. Engines of Future Growth 2020 Spring Conference 2014  Mobile!  Biggest change to the way we live  Mobile devices – laptops, mobile phones, iPad, Nexus 7
  92. 92. Engines of Future Growth 2020 Spring Conference 2014  The office equivalent of the Swiss Army Knife?  ………………………?  The iPad  ICAEW IT Faculty blog posting – February 2014
  93. 93. Engines of Future Growth 2020 Spring Conference 2014  Faxes – eFax.co.uk  Take payments – next slides  Notes – handwritten, typed,  Dictation  Library – books, magazines, articles  Access the office – (fully hosted) RDP software
  94. 94. Engines of Future Growth 2020 Spring Conference 2014  HopTo – edit Microsoft documents on iPad – files in DropBox or on PC for example  2020 Business Profitability Analyst (search iPhone apps)
  95. 95. Engines of Future Growth 2020 Spring Conference 2014  Google Wallet – allows Android users to pay for purchases online and in stores with the phone  Contactless payment cards
  96. 96. Engines of Future Growth 2020 Spring Conference 2014  Take Credit Cards on your mobile device  iZettle  Intuit Pay  Payleven  Amazon www.izettle.com
  97. 97. Engines of Future Growth 2020 Spring Conference 2014  Credit Cards on your website  Credit cards – on your iPad / iPhone Eway.co.uk
  98. 98. Engines of Future Growth 2020 Spring Conference 2014  GOCARDLESS  Set up in 5 minutes!  Integration with Xero and now Sage Line50 bit.ly/cardlessdd
  99. 99. Engines of Future Growth 2020 Spring Conference 2014  Aurasma – augmented reality  Business use – see partners on web page  Similar products – Blippar, Wikitude aurasma.com/partners/
  100. 100. Engines of Future Growth 2020 Spring Conference 2014  Glover Stanbury & Co  QR Code  Aurasma
  101. 101. Engines of Future Growth 2020 Spring Conference 2014  PowerPoint – save as video file then use Microsoft Movie Maker – free download  Do you have a YouTube Channel?
  102. 102. Engines of Future Growth 2020 Spring Conference 2014  Google Search in iTunes  Image recognition app  Search internet by taking a picture  Recognises QR codes
  103. 103. Engines of Future Growth 2020 Spring Conference 2014  How mobile friendly are you – or your clients?  Is your website mobile friendly?
  104. 104. Engines of Future Growth 2020 Spring Conference 2014  Facebook “Check in”  Appear in friend’s feeds  FourSquare
  105. 105. Engines of Future Growth 2020 Spring Conference 2014  Social Media  Facebook Fans www.socialbakers.com also visit for Twitter, YouTube, Google+ statistics
  106. 106. Engines of Future Growth 2020 Spring Conference 2014  Average age of Facebook users? Depends where you look….41  Average age of Twitter users? 37
  107. 107. Engines of Future Growth 2020 Spring Conference 2014  Populate Facebook (company page), Twitter, Google+ and LinkedIn (company page) using one product  bufferapp.com
  108. 108. Engines of Future Growth 2020 Spring Conference 2014  Feeds -news, blogs, video, photos….  Collate/aggregate feeds from various sources of interest in one place  FlipBoard app, Bloglines, Feedly, Pinterest  Repost from Feedly direct to Buffer
  109. 109.  Recommended Book  http://bit.ly/bussocial (Kindle)  Michelle Carvill – Made Simple Group
  110. 110. Engines of Future Growth 2020 Spring Conference 2014  Cloud is everywhere – and for everyone  Storing and accessing data and programs over the internet instead of your own computer
  111. 111. Engines of Future Growth 2020 Spring Conference 2014  Who is not using at least one “cloud” application?  By end of 2013 it was estimated that more than 75% of UK businesses used cloud services
  112. 112. Engines of Future Growth 2020 Spring Conference 2014 Replace:  Software  File storage  Email servers and exchange  Platforms ……..With cloud technologies
  113. 113. Engines of Future Growth 2020 Spring Conference 2014  Superfast Broadband  Check at: www.superfast-openreach.co.uk/where-and-when/  4G…..
  114. 114. Engines of Future Growth 2020 Spring Conference 2014  Google Apps vs. MS Office 365..?  Comparison chart – downloadable in Excel format  tek.io/15DqA2i
  115. 115. Engines of Future Growth 2020 Spring Conference 2014  Zapier https://zapier.com  Over 250 cloud products  Automate tasks  2892 pages of predefined links  Take a voice note from Google Glass to Google Drive  Create Evernote note of new Dropbox files
  116. 116. Engines of Future Growth 2020 Spring Conference 2014  Big Data is the term for a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications.  90% of World's Data Generated Over Last Two Years  Creating 2.5 billion GB of data every day
  117. 117. Engines of Future Growth 2020 Spring Conference 2014  Every Minute….  Infographic http://bit.ly/18JQ66O  Google – 2m searches  47,000 apple app downloads  34,722 Facebook “Likes”
  118. 118. Engines of Future Growth 2020 Spring Conference 2014  Tesco – 15 years research  Monitor weather  Temperature goes from 20c to 24c then sales of hamburgers will increase by 42 per cent
  119. 119. Engines of Future Growth 2020 Spring Conference 2014  “Big Data” for Small Businesses and Consumers  Accountingweb.com (US version) article http://bit.ly/1aqHVDc
  120. 120. Engines of Future Growth 2020 Spring Conference 2014  BusinessToolsPlus.co.uk  Database of products, software, books, hints, tips, blogs – everything IT related for business  FREE unlimited access for 2020 members  Obtain your access code from membership@the2020group.com
  121. 121. Engines of Future Growth 2020 Spring Conference 2014  IT for the small accounting practice - ICAEW  http://bit.ly/SV0rWZ
  122. 122. Engines of Future Growth 2020 Spring Conference 2014  Created by The ICAEW IT Faculty  A set of resources to help all those who use Excel.  Hundreds of articles on the practical use of Excel.  Periodic webinars on Excel topics.  Community members can request help on Excel.  £55 pa or free to members of the IT FAculty  bit.ly/ICAEWExcel
  123. 123. Engines of Future Growth 2020 Spring Conference 2014  Improving efficiencies in the accounting practice  Paperback http://amzn.to/11SZHbB  Kindle http://amzn.to/Ukfixg
  124. 124. Engines of Future Growth 2020 Spring Conference 2014
  125. 125. Engines of Future Growth 2020 Spring Conference 2014
  126. 126. Engines of Future Growth 2020 Spring Conference 2014 Slight Edge Theory JDI
  127. 127. Engines of Future Growth 2020 Spring Conference 2014
  128. 128. Engines of Future Growth 2020 Spring Conference 2014  Be clear about the goals  (And they know about the specific activities) They do it !!  Focus on the wildly important goals as this gives focus
  129. 129. Engines of Future Growth 2020 Spring Conference 2014 Focus on the “Wildly Important”  Common Thinking: We can effectively accomplish 6, 8, or even 10 important goals at once with excellence.  Reality: The more we narrow our focus the greater our chances of achieving our goals with excellence.
  130. 130. Engines of Future Growth 2020 Spring Conference 2014  Important Goal A goal with significant consequence or value.  Widely Important Goal (WIG) Our most leveraged goals. Goals that drive our vision, make all the difference, and that take us to a new level. Perhaps, failure to achieve these goals renders any of our other achievements inconsequential.
  131. 131. Engines of Future Growth 2020 Spring Conference 2014  Identify what’s widely important  Focus significant activity and resources on it
  132. 132. Engines of Future Growth 2020 Spring Conference 2014 “I believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the earth.” President John F. Kennedy
  133. 133. Engines of Future Growth 2020 Spring Conference 2014 I believe we possess all the resources and talents necessary. But the facts of the matter are that we have never made the national decisions or marshalled the national resources required for such leadership. We have never specified long-range goals on an urgent time schedule, or managed our resources and our time, as to insure their fulfillment. This decision demands a major national commitment of scientific and technical manpower, materiel and facilities, and the possibility of their diversion from other important activities where they are already thinly spread. It means a degree of dedication, organization and discipline which have not always characterized our research and development efforts.” President John F. Kennedy
  134. 134. Engines of Future Growth 2020 Spring Conference 2014 “I have never encountered an executive who remains effective while tackling more than two tasks at a time.” Peter Drucker - Management Guru Harvard Business Review, June 2004
  135. 135. Engines of Future Growth 2020 Spring Conference 2014
  136. 136. Engines of Future Growth 2020 Spring Conference 2014 Firm Level WIGs 3 WIGs2 WIGs3 WIGs Financial Services Auditing & Accounting Tax 2 WIGs3 WIGs3 WIGs Client retention Motivated people WIG 3 ManufacturingConstruction Professional Services
  137. 137. Engines of Future Growth 2020 Spring Conference 2014  Create a compelling scorecard  Have a highly visible scoreboard of the critical few measures that motivate our players to win!
  138. 138. Engines of Future Growth 2020 Spring Conference 2014 Create a compelling Scoreboard  Common Thinking: Once we have communicated the goal people will know we are serious about it.  Reality: They won’t believe we’re serious until we start keeping score.
  139. 139. Engines of Future Growth 2020 Spring Conference 2014  Lagging - measures provide an historical look at past performance.  Leading - measures provide indicators that are predictive of future results.  Must drive the lag measures  Should be sensitive enough to move every week  Behavioural, not “quick lag” measures  Real time - measures show where things are right now. They allow corrective action to be taken immediately to affect the outcome.
  140. 140. Engines of Future Growth 2020 Spring Conference 2014 Lag Measure Lead Measure Predictive of the Goal Easier to Influence Measures Goal Achievement Harder to MeasureEasier to Measure Difficult to Influence Client Retention + Client “touches” Revenue WIP Profit Number of Strategic Reviews
  141. 141. Engines of Future Growth 2020 Spring Conference 2014 Personal Scoreboard for Jeff Pawlow Recovery Debtor Aging
  142. 142. Engines of Future Growth 2020 Spring Conference 2014 Think Differently and Translate New Goals Into Specific Actions  Think “new and better” and have a process for individually selecting and activating the critical few weekly objectives that will drive the goal.
  143. 143. Engines of Future Growth 2020 Spring Conference 2014 Common Thinking:  The best ideas come from the leaders.  If people know the goal and see the scoreboard, they will know what to do about it…and do it…. Reality:  The best ideas come from interaction between leaders and the front line  Goals will never be achieved until everyone on the team thinks critically about what must be done to achieve goals and then does it.
  144. 144. Engines of Future Growth 2020 Spring Conference 2014 Key Questions…  Do you think “new and better”?  What are the three most important things I can do this week to impact the scoreboard?
  145. 145. Engines of Future Growth 2020 Spring Conference 2014  “New and Better”  Einstein’s definition of Insanity? "Insanity: doing the same thing over and over again and expecting different results." Albert Einstein
  146. 146. Engines of Future Growth 2020 Spring Conference 2014 Is your week happening to YOU… or are YOU happening to your week?
  147. 147. Engines of Future Growth 2020 Spring Conference 2014 M T W Th F Sa Su
  148. 148. Engines of Future Growth 2020 Spring Conference 2014 M T W Th F Sa Su
  149. 149. Engines of Future Growth 2020 Spring Conference 2014 3 Team Goals 1 2 3 1_______________ Increase Number of Referral Sources 2_______________ 3_______________ Identify 3 New Sources 2 referral meetings Nat West bank 8:00 Monday Tuesday Wednesday Thursday Friday 10:00 9:00 1:00 11:00 2:00 12:00 3:00 4:00 Nat West ID 3 Sources Taylor Assoc. Meeting Nic Jones Meeting
  150. 150. Engines of Future Growth 2020 Spring Conference 2014Discipline 4 Hold each other accountable all the time  Have a process for reporting to each other on the critical few weekly objectives that will drive the goal.
  151. 151. Engines of Future Growth 2020 Spring Conference 2014Discipline 4 - Accountability Common Thinking: As long as goals are clear and compelling, and people know what to do to achieve them, they will remain focused and committed to doing it. Reality: The certainty of weekly accountability to the team ensures focus and commitment.
  152. 152. Engines of Future Growth 2020 Spring Conference 2014
  153. 153. Engines of Future Growth 2020 Spring Conference 2014 Clear about “the goal” They do it know activities and actions 1. Focus on the Wildly Important
  154. 154. Engines of Future Growth 2020 Spring Conference 2014 Clear about “the goal” They do it know activities and actions 1. Focus on the Wildly Important 2. Create a Compelling Scoreboard
  155. 155. Engines of Future Growth 2020 Spring Conference 2014 Clear about “the goal” They do it know activities and actions 1. Focus on the Wildly Important 2. Create a Compelling Scoreboard 3. Translate Goals into Specific Action
  156. 156. Engines of Future Growth 2020 Spring Conference 2014 Clear about “the goal” They do it know activities and actions 1. Focus on the Wildly Important 2. Create a Compelling Scoreboard 3. Translate Goals into Specific Action 4. Hold Each Other Accountable All The Time
  157. 157. Engines of Future Growth 2020 Spring Conference 2014 Goals Score Carding Specific Actions Accountability
  158. 158. Engines of Future Growth 2020 Spring Conference 2014 47 “We must all inevitably suffer from one of two pains. Either the pain of discipline or the pain of regret!” Jim Rohn - Business Philosopher and Speaker
  159. 159. Engines of Future Growth 2020 Spring Conference 2014 159 “The critical ingredient is getting off your butt and doing something. It's as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today.” Nolan Bushnell - Founder of Atari Computer 55
  160. 160. Engines of Future Growth 2020 Spring Conference 2014 “The nicest thing about not planning is that failure comes as a complete surprise rather than being preceded by a period of worry and depression.” Sir John Harvey-Jones
  161. 161. Engines of Future Growth 2020 Spring Conference 2014
  162. 162. Engines of Future Growth 2020 Spring Conference 2014 Are they clear about “the goal”? Do they know what is most important? 1. Clarity
  163. 163. Engines of Future Growth 2020 Spring Conference 2014 Are they clear about “the goal”? Do they know what to do and how to do it? 1. Clarity Do they know the critical activities? 2. Translation
  164. 164. Engines of Future Growth 2020 Spring Conference 2014 Are they clear about “the goal”? Are they committed to the goal and their role in it? 1. Clarity Do they know the critical activities? 2. Translation 3. Commitment
  165. 165. Engines of Future Growth 2020 Spring Conference 2014 Are they clear about “the goal”? Do we make it easy for them? 1. Clarity Do they know the critical activities? 2. Translation 3. Commitment Do they Do It? 4. Enabling
  166. 166. Engines of Future Growth 2020 Spring Conference 2014 Are they clear about “the goal”? Do we work effectively together? 1. Clarity Do they know the Critical Activities? 2. Translation 3. Commitment Do they Do It? 4. Enabling 5. Synergy
  167. 167. Engines of Future Growth 2020 Spring Conference 2014 Are they clear about “the goal”? Do we hold each other accountable all of the time? 1. Clarity Do they know the Critical Activities? 2. Translation 3. Commitment Do they Do It? 4. Enabling 5. Synergy 6. Accountability
  168. 168. Engines of Future Growth 2020 Spring Conference 2014 6 root causes for failing to implement Clarity Specific Actions Leads to Commitment Synergy Enabling – ‘Busy’ Accountability
  169. 169. Engines of Future Growth 2020 Spring Conference 2014
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