Change Management - 5 Key Approaches for Growth
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To view this webinar, please visit: http://www.welchllp.com/resource-centre/videos/webinars/ Two of Canada's premier executives - Micheal Burch of Welch LLP and Peter Evans of ExpertFile - made themselves available to discuss 5 Key Approaches related to managing your organization's goals, growth, and success. Learn About: • Company personality shifting • Planning for tomorrow • Changing public perception • Adapting employee culture for success • Putting your money where your mouth is
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Change Management - 5 Key Approaches for Growth
- 1. Welcome to Today’s Webinar Change Management 5 Key Approaches for Growth
- 2. Ground Rules Questions Window s Mac Tablet • Attendees are in listen-only mode • This webinar is being recorded for future on-demand playback • Your participation represents acknowledgement that we are recording • Tweet questions & comments to: #WelchChange
- 3. Presenters Micheal Burch, CPA, CA, CFP Managing Partner mburch@welchllp.com www.welchllp.com ca.linkedin.com/pub/micheal-burch/8/790/204 Peter Evans Founder & CEO of ExpertFile http://www.expertfile.com Twitter: @techmarketer ca.linkedin.com/in/peterevansprofile
- 4. What we will cover today Vision Setting out a plan for growth Culture Shifting to the entrepreneurial mindset Brand Changing perception & driving market visibility Leadership Maintaining focus & momentum Investment Cultivating the conditions for growth
- 5. Vision • • • • • • • Plan for tomorrow vs. working for today Set audacious goals Identify all steps required to achieve the vision Know your enemy Focus on 3 key themes: trend, relevance, differentiation Balance long term vision with quarterly sprints with “themes” Balance core business with new “experiments” that can drive growth Setting a plan for growth
- 6. Culture • • • • Identify skills gaps & develop programs Network ! Network ! Network ! – make it a habit Be selective about your ideal customer Ask for the sale Focus on 7 Habits 1. Informed: Specialized knowledge rules 2. Provocative: Challenge assumptions 3. Connected: Get to Local Events & Online 4. Ambient – Relevant, regular updates 5. Helpful – Give till it hurts (sometimes) 6. Resourceful – Create unexpected value 7. Responsive: Execs today are like ferrets ;-) Shifting to an entrepreneurial mindset
- 7. Brand • Change the Public Perception from small time player to heavy hitter • Promote – nonstop! Never assume they already know • Focus on capabilities, depth, & expertise. • Get active in your client’s community, events, & associations • Get everyone trained on the corporate pitch • Identify Personas • Add value to Conversations with: Proof, Pain, Perspectives & Product • Remember --- People buy from people • The need for visible experts Changing perceptions & amplifying market visibility
- 8. Leadership • Playing the “long game” vs. quarter by quarter • Adapting your employee culture for success • Give staff the tools to match your expectations • Proactively engage senior, or established, staff who are reluctant to change • Evangelize the vision • Share the news – good or bad – in town hall forums • Expect turnover as a result of the change • Horowitz’s Principles: Vision, Resources (Team) & Capital • Plan your work – work your plan • Priorities (Plan), Progress (Measures), Pacing Maintaining Focus & Momentum
- 9. Investment Creating the conditions for continued growth • Put your money where your mouth is • Protect yourself – more insurance, better financial resources • Save for a financial rainy day • Incentivise your staff
- 10. Other Lessons Learned Plan Make plans with more detail than you would ever expect to need or require Communicate Spend more time with the naysayers upfront Cultivate Invest in the key people driving change and proactively exit staff who will negatively impact your results
- 11. Q&A Micheal Burch, CPA, CA, CFP Managing Partner mburch@welchllp.com www.welchllp.com ca.linkedin.com/pub/micheal-burch/8/790/204 Peter Evans Founder & CEO of ExpertFile http://www.expertfile.com Twitter: @techmarketer ca.linkedin.com/in/peterevansprofile
Editor's Notes
- Darryl
- Micheal joined the Welch LLP team in 1978 after graduating from the University of Ottawa, where he received his Bachelor of Administration degree. He went on to receive his CA designation in 1981 and his Certified Financial Planner designation thereafter. Micheal left the firm for a few years where he gained critical experience in the entrepreneur/owner-managed space. He returned to the Tax Group at Welch LLP in 1990 and was made a partner in 1993. In 2006 he took over the role of Ottawa office Managing Partner, a role he continues to fulfill. Micheal provides specialty support in all areas of taxation – corporate and personal. He also has extensive experience in financial and estate planning, as well as cross-border consulting. Peter brings over 20 years of corporate and consulting experience working in software, Internet services, online media and telecom industries. He specializes on developing strategy and marketing programs for companies operating in complex, competitive markets – with a key focus on technology and business model innovation. Over the years, his work with clients as diverse as Telus, DoubleClick/Google and the MaRS Innovation Centre has been recognized through industry awards such as the Deloitte Fast50 and featured in media such as Inc. Magazine, Huffington Post, Strategy Magazine and Harvard Business Review Online. Peter recently founded ExpertFile.com, the world’s first expert marketing software platform that serves clients such as Cleveland Clinic, ADP and the Canadian Bar Association. He holds an MBA degree from Queen's University.
- Connectors As evidenced by”So that’s why we …..(action)Moved this content- Create a 5 year plan of the futureTown Hall Initiative Made an impression – reset their thinkingShows we mean business- not flavour of the monthClear message – Couldn’t be misinterpreted2. Toastmasters Club @ WelchNeeded visibility in the market More presentationsWorked on building confidence & telling engaging stories
- Hunt for businessBe selective about your ideal customer ----- & don’t be afraid of clients who don’t fit your target profileIf all your clients are D grade customers …how can you be an A firmClient Mix AnalysisSet a standard criteria to rank our clientsApplied the ranking to all of our clients by partnerPursuit TeamsLooked at market rankings of businesses in key sectors (top 30 firms)Identified key points of painLooked for entry points based on connections internally within the firm and our extended partner network
- Brag nonstop – Suggest moving to voiceover vs. embed in slideWe were the best kept secret in town Lots of depth in sectors such as Automotive, Not for profit, Real EstateKey specialty expertise in various practice areas: Taxation, Planning, Valuations, SRED, Govt. IncentivesBUT…. BrandClient Research - Key insight: Welch goes the extra mile Revised Positioning - Boutique firm that offers more holistic service (owner managed business) and better valueMarketing – Refresh of corporate identity (digital)Business Development ResourceFull time BD personBold move given our sizeCreating a Team EffortAccountability Welch everywhere = Ensuring coverage at key local events - SchedulingExperimentsHosted Events - Beach soccercharity tournament (brand building with clients & prospects – team building/culture)But with finite resources of time, people, money – we had to move some things out (Senators Season Pass)
- 1. Getting people onboard2. Balancing short term thinking with the long game3. Communicating our progressSome of the key investments to enable the changeSystems & StructurePolicies & Procedures – By level we needed to communicate what our expectations wereNeeded to prepare our junior ranksEmployee Education -APEX (Mini Business School)Focus on getting people more focused on business developmentFinishing school – other soft factors that go into working with clients and prospectsHas been a great recruiting tool
- Investment our Current Human CapitalImproved our HR practices with an outside expert (FT consultant)Enhanced employee evaluation process for current staff Investment in our Future Human Capital - RecruitingPeople are a key advantage – So we’re active on campusSponsorship with Telfer is a major commitment