Living the values of your firm can get lost in the melee of running your firm.

But it doesn’t have too.

You’ll find a valuable article on accounting web describing how one firm has made a difference to all the stakeholders in their firm by living their values and by being creative at Christmas. They have positively made a difference to all the stakeholders in their firm:

- customers are involved and feel part of something meaningful

- team members are involved and feel they are doing something worthwhile

- and their community are involved too by involving a local special needs school and sending a message to our troops on active duty

The article starts…

The festive season is a great time for practice managers to make a difference not just for charity, but also for their clients and teams, advises Paul Shrimpling.

Living the values of your firm can bring a focus to what’s possible. It can bring something extra-ordinary.

Here’s an example worthy of your attention: Mitten Clarke is a successful practice in Stoke on Trent and Congleton. The practice is driven by delivering customer experiences that are seen as ‘a breath of fresh air’ to its customers and team. This ‘breath of fresh air’ approach might not sound unusual, but it is.

It is unusual.

In my experience of working with many firms over many years, it is rare to find a firm seriously committed to the firms values. How clear are you about what your firm’s values actually are?

Here’s the full article if you want to learn more…

http://www.accountingweb.co.uk/topic/practice/accountants-offer-christmas-inspiration

So why don’t you?

Because if you could you would wouldn’t you?

What I mean is:

If you could choose to be successful you would wouldn’t you?

If you could choose to be happy you would wouldn’t you?

So why don’t you?

According to Michael Heppell you need to master just one skill.

The skill he calls:              FLIP IT!

I recently interviewed Michael and in just 18 light-hearted minutes he explained how this one skill can transform my results, my approach and my enjoyement. I think you’ll enjoy it and find it both practical and inspiring.

To listen to the interview click here and download the MP3 file

What will you find in the interview?
- Flip your mind set so that you turn difficulties into solutions
- Michael talks about how your problems are just answers in disguise
- How every problem you face can be creatively flipped using a simple ‘linking’ process to generate the solution you seek
- How challenging your habits creates new and powerful experiences
- And which of these two questions – ‘WHY?’ or ‘HOW?’ – would win in a boxing match!
- Plus how a UK hotel beat all the worlds hotels to be crowned the best customer service hotel in the world

I’m honoured Michael was happy to give this interview – click here and download the MP3 file

Why don’t you Flip-It?

Paul Shrimpling

A recent interview with Michael Heppell – world renowned author – reminded me of this question. A question asked of me when I was struggling in my first job selling recruitment services.

It’s relevant to accountants too.

Let me explain.

You have a default position.

Or rather you have a default reaction to problems, difficulties and frustrations.

What’s yours?

Are the problems you experience a good thing or a bad thing? Are they positive or negative? Does it make you feel energised or worn out? Does it make you happy or glum?

I suggest your default position or reaction will mark you out and determine your results during difficult times.

My Mum, Margaret Thatcher and Jim Rohn…

Reminiscent of Margaret Thatcher’s famous “Get on your bike!” quotation, Jim Rohn, a world class speaker and success philosopher suggests:

“Don’t wish it were easy wish you were better” – Jim Rohn

If the economy is affecting your clients and your practice, chances are it’s affecting others too – including your competition and their customers. You could whinge about the difficulties; you could wish it were easier. OR…

- You could wish you were better
- You could invest in some great reading material
- You could invest time in one or two inspirational courses, videos or audio-recordings too
- You could celebrate all those clams and go fish for the pearls!

My mum, a less well-known success philosopher, used to tell me:

“Where there’s muck there’s brass!”

This translates into where there’s a problem there’s also an opportunity.

Michael Heppell also makes this point brilliantly – even better than my mum does!

In his brilliant book ‘Flip-It’, Michael Heppell makes this exact point brilliantly:

“Problems are solutions in disguise”

I recently had the great privilege of interviewing Michael – author of several best selling books including ‘How To Be Brilliant’; ‘5-Star Customer Service’ and his most recent work ‘Flip-It’ (available from Michael’s website www.michaelheppell.com).

NB If you want a free copy of the 18 minute interview with Michael please click this link

Problems are solutions in disguise!

With this in mind I consider myself very lucky and very grateful to work with an amazing handful of firms across the UK.

Why?

Because they all fall into one of two camps:

1. They are enjoying the fruits of good practice and seeing their firm grow during the recession
2. They are shrinking somewhat and seeing this as an opportunity to run a tighter ship and prepare for future growth

There’s not a Whinging Walter amongst them.

They are all pearl fishermen and pearl fisherwomen.

I can only conclude that all accountants are this positive, future focussed and optimistic about their future.

What about you?

Paul Shrimpling
Author of ‘The 7 Big Mistakes Accountants Make and How To Avoid Them’

PS To get a copy of the interview Paul did with Michael Heppell about his powerful ‘Flip-It’ concept simply click here to go to the download page

If you met Debra Searle MBE you’d be shocked to learn she has rowed single-handedly across the Atlantic (almost). Shocked, because at 5’4” she looks great but not your typical Atlantic-crossing rower-type!

And I say ‘almost’ because she started out with her husband – a 6’4” ex-royal-marine with lots of rowing experience – who did not cope with the isolation at sea and was rescued 12 days out from their start in Tenerife.

Debra chose to continue and spent another 100+ days at sea before arriving in the Caribean to complete her crossing.

I met Debra after presenting the keynote at the recent CIMA Members In Practice conference. Debra was the after dinner speaker – she was brilliant.

Debra – in her book The Journey – describes how much she enjoyed it but also describes the mental and physical challenges of the journey. Debra has kindly supplied me with a picture from her book which is now the desktop picture of my laptop.

The picture: After an hour’s rest Debra would sit down ready to start another two hours of rowing (her routine was 2 hours on 1 hour off, 2 on, 1 off!). As she sat down she would look at the bulkhead of the rowing boat – painted sky blue.

On the left there’s a GPS device describing her exact location – WHERE SHE IS NOW.

On the right there’s a compass showing in what direction she is rowing – WHERE SHE IS GOING.

In the middle there’s the hatch to her tiny cabin where she grabs 20 minutes sleep after feeding herself and making any repairs to the boat’s equipment. On the hatch door there’s painted a three arrow graphic with the words ‘CHOOSE YOUR ATTITUDE’.

And Debra describes how she would consciously debate and decide what attitude to adopt to get through the next 2 hours. ‘Determined’, ‘optimistic’, ‘enthusiastic’. She made a conscious choice. She chose an attitude to help her get through the next two hours. It worked. She made it.

As accountants, and business owners in particular, it pays to be conscious of our attitude. It pays to choose an attitude to support our goals – WHERE WE ARE GOING. Why would you chose an attitude to undermine your goals – consciously you wouldn’t, unconsciously you do. Well at least I do. Which is why I now have Debra’s picture as my desktop – to consciously remind myself to choose an attitude to support me rather than undermine me.

Your attitude determines your ability to deal with and respond to your team, your customers, your family and anything life throws at you. Why would you leave it to chance? Why would you do anything other than choose it consciously? And given that your clients turn to you for advice, guidance and support it might prove valuable to choose an attitude to support your role. You choose! Or don’t (which is still a choice, albeit unconsciously).

A great book on this is the FISH! book – the story of The World Famous Pike Place Fish Market. A fabulous fable – albeit true – about how this Seattle-based fish market behave and achieve success. They have four phrases on which their massively successful business model is based. One of which is ‘CHOOSE YOUR ATTITUDE’. The other three? Read the book, it’s worth it…

“The most successful people are those who are good at plan B.” – James Yorke, mathematician

Great quote don’t you think?

When I read this I was immediately transported to the concept of the The Balanced Scorecard. Or, if you’re a small business owner like me, a single A4 page with my nine key predictive indicators for my business. I call this my Business One Page Planner which gets reviewed every month so that we can check on our performance then agree and take any necessary action.

Why is this relevant to a plan B?

Because it provides the best tool for generating and managing plan B – assuming you have a healthy blend of leading indicators built into it.

What I mean is - you must not fall into the trap of only capturing, measuring and managing lagging indicators.

When I present the Business One Page Planner I use an ancient picture of a miner wearing breathing apparatus and carrying a cage the size of a PG Tips tea box (80 bags!). In the cage there’s a merry little yellow bird. The miners best friend.

Plan A is to dig for coal.

Plan B is to don the breathing apparatus and then leg it out the mine – ASAP – if and when the canary falls over.

The miner’s leading indicator is the canary – what’s yours?

If you aren’t sure what plan B is then make sure you’re close to the leading indicators for your business and that you use them to drive action.

For example:

When Gordon Bethune took over at Continental Airlines in 1994 the performance across three leading indicators proved they were worst (by a long way!). The three measures were:

- on time arrivals

- lost luggage

- customer complaints

He used these three leading indicators to rally his dysfunctional workforce into right action and eventually became the best performer in the industry – oh and took the business from close to bankruptcy to healthy profitability and cash flow.

Gordon clearly describes his plight and his recovery in a great read called ‘From Worst To First’

Work out your canaries and watch them closely! Or, like James Yorke suggests, have a very clearly worked out plan B before you get down the mine!!!

Paul Shrimpling

Remarkable Practice

PS The success of a one page planner is the monthly discipline of collecting the results, reviewing the results and taking action based on these results. I help a number of accountancy firms do this for their firm. And I would recommend you have someone support you do the same.

Go to living proof and you’ll see story (No. 1) where Andrew at Mayes Business Partnership describes how they use tools from AVN – a national association of accountants – to help many businesses make this one page planner approach (via an event) work for their clients and the value of doing so.

Go to dictionary.com and you’ll find this definition for initiative:

The power or ability to begin or to follow through energetically with a plan or task; enterprise and determination

Good stuff don’t you think?

1. ”Power and ability”
2. ”Follow through energetically”
3. ”Enterprise and determination”

Would your firm be more successful, more profitable and more exciting to work in if these three things showed up with more of your people, more of the time? Of course it would…

My experience suggests that all accountancy firms would benefit from unleashing more initiative in their firm. So…

Here’s 3 tiny tools to build more initiative, and unleash greater success and profits into your firm…

Think of initiative as one side of a gold coin – let’s call it Heads.

Tails – the other side of the coin, is called delegation.

It then follows that the better you are at delegating, the more you’ll see your people demonstrate more initiative more often.

Here’s a bit more detail…

I’ve lived by this little formula in my various roles as a leader and it’s proven it’s worth:

“Delegate the result, not the work”

A great example for this is the reaction we get from our four kids when we delegate a result rather than work. My favourite example is when Kate (wife) says:

“Before you go on the Wii kids, would you please clear the kitchen so that it looks like mum has done it?”

It works pretty much every time.

Contrast this with Grandma’s approach which is to describe the detailed work required:

“Dominic, could you put the cutlery in the draw, Maddy put the plates and bowls away,
boys could you please clear the table and sweep the floor. Oh, and no arguing!”

Both work.

But Kate’s requires almost zero supervision and generally gets a better result (faster and cleaner).

Why?

Tiny tool 1.  Because Kate used the question “would you?” which requires a voluntary commitment. It’s ‘soft’ and does not sound like a dictat. “Could you?” is easy to say yes to, but does not commit them to the job, only an ability to do the job! “Would you?” receives much less resistance to any other form of delegation request.
Tiny tool 2.  Because they know exactly what the kitchen looks like when mum cleans up (clear result). A crystal clear, unambiguous end-game for all four kids.
Tiny tool 3.  Because they can organise themselves and feel ownership of the work – they decide on who does what work, and how it gets done. Yes they argue occasionally but it’s about how the work gets done which sounds like constructive energetic debate to me!

Using these three tiny tools means that the kids demonstrate all three elements of initiative in bucket loads:

Power and ability to follow through energetically and show enterprise and determination

NB Tiny tool 4. Always explain why something needs doing (“before you go on the Wii”) and why they are the best people for the job. Understanding why’s and wherefore’s is a source of power, energy and enterprise too.

Time for action:

• Can you master using ‘would you?’ with you people?
• Can you work on describing crystal clear outcomes/results when delegating tasks?
• Can you give your peope the space to organise themselves more?

Bet you can’t! Hopefully you now respond with “Oh yes I can!’ Please make it so and delegate results like Kate does. And if you want more on delegation click here.

Paul Shrimpling

MD at Remarkable Practice, and author of:

“The 7 big mistakes that accountants make that costs them a fortune in lost sales, lost profits and lost personal cash. And – how YOU can avoid them – now!”

I’m proud that Peter Thomson should ask me to appear on The Achiever’s Edge.

To find out more about our discoveries you can have a free copy of the 2009 White Paper:

“The 7 big mistakes that accountants make that costs them a fortune in lost sales, lost profits and lost personal cash. And – how YOU can avoid them – now!”

Simply complete this simple form and you’ll receive the white paper immediately:

I would welcome any comments you might have on the white paper and the interview.

Every success

Paul Shrimpling

PS Mouse over and click Achievers Edge if you want to find out more about this great learning tool (I’ve been listening for almost ten years).

Last week, January 22nd, 16 firms received a copy of an article produced by Ron Baker on his Verasage website

7 points are raised in the article that warrant thought, discussion and of course action.

Assuming, of course, you want to drive your firm forward and achieve even better results this coming 12 months you would do well to consider these 7 pointers.

Nigel Bennett, Managing Director at Hallidays in Stockport, has already responded, you can see his thoughts in the comments section below. I’d welcome your thoughts and contributions too.

Point 1 – Perceived value for money
Traditionally clients were billed on an hourly rate for services provided, but times have changed and success lies in giving the customer value for money.  It is essential to identify what the client needs and offer services that they will find of value.  The value may be in financial terms or value perceived by the client.  
Point 2 – Meaningful dialogue with clients about what they need
It is essential that dialogue with the customer is used to identify the client needs, and this needs to be discussed and agreed with on an annual basis with the client.
Point 3 – Meaningful dialogue with clients about value for money
It is important to recognise that each client is different. Therefore, the services provided will be valued differently. These need to be discussed with each client so each side can agree what service and what standards are expected.
Point 4 – Pricing processes that reflect true value
Creating a pricing policy for clients is essential.  As work is not done on an “hourly rate” therefore a pricing policy needs to be discussed across the business and agreed upon.  It is important that this remains a fluid process which is continually looked at as services are continually improved and dialogue with the customer continues. There are some major structural and process/system implications for your firm on this one.
Point 5 – A people focus can make all the difference
In offering excellent service it is important to ensure you have the right staff to make this happen.  Having the “right people on the right bus” is essential.  Knowing your employees and putting them in areas to best utilise their strengths will ensure the business runs smoothly and ensures happy motivated staff.
Point 6 – measures that build a performance culture
Building a performance culture requires great measurement. KPI’s that connect your people’s behaviours with what matters most to the customer provide the best model. And please note that we are discussing  key PREDICTIVE indicators. Indicators that best predict results – for your clients and your firm. By using KPI’s to assist with how we see our staff we are able to ensure they are providing top quality service.
Point 7 – A process that builds ‘value’ into every aspect of service delivery starts with your client
The introduction of a Value Creation Agreement to clients is an important step to ensuring value is discussed with clients and agreed upon.  This is signed by both sides and ensures everyone is happy with the standards of service in advance.

The Firm of the future (by Ron Baker and Paul Dunn) is a book about process innovation in your firm. Changing processes so that they work better for your clients, for your team and for the results of your firm. All pretty simple stuff but not so easy to implement. Please add you thoughts and comments to this blog and let’s see where this discussion can take us all.

DISCUSSION FROM NIGEL:

Nigel – Point 1: “How do you identify and measure value?  How do you consistently deliver it?”
Paul:  “This is occupying a lot of my thoughts and I believe three things are worth testing:
a.  Establish crystal clear expectations from your client at the start of the year.  I’m sure we could design a crib sheet together that enabled every team member (within reason) to “ask the 7 expectation questions” that sets the parameters for measuring Hallidays’ performance.  Over deliver (timing, Proactivity, etc) at the agreed price and you have surpassed their VFM expectations”.
Nigel:  “I like the sound of this – definately something we should develop”.
Paul: “b.  A report that captues all the actions that have been done during the year/period on behalf of the client.  If this can be produced by your work-flow software all the better (minimum people involvement other than inputting what’s done as they already do?)”
Nigel:  “Yes workflow can do this easily – subject to the data being entered – this is a discipline that some are better at than others”.
Paul:”c.  If you could then, prior to a client meeting, assess the monetary and emotional VFM on the big/key issues of the year you could have a great client discussion about value.  This requires some balls as it’s not a black and white discussion as value is open to interpretation.  However I’m sure we could design a simple system and training process for this.”
Nigel: “Also like the sound of this – I am happy to dive in with this however I tink a simple system would help.  The delivery of Times U was dramatically improved when combined with Steve’s “Heart Selling” technique.  So soft skills can be systemised to some extent”.

Nigel – Point 2: “How do we get FPA’s plus ll work quoted in advance across the firm.  Resistance is present at various levels for a variety of reasons.”
Paul: “One person at a time mentored on this issue will slowly but surely get you there.  Telling ‘em won’t work.  Showing ‘em won’t work either.  Doing it with them, involving them will work eventually (NB: I know there are those exceptions to the rule – just leave them unti last).”
Nigel: “OK.  This requires a plan.  The problem will be gettng to know when they are having the meeting at which the FPA should be delivered.  Something for further discussion.”

Nigel – Point 3: ”There are some weaknesses in the firm which I prefer to address by working on the development of the team on all levels, which may result in people either stepping up to the mark or leaving”.
Paul: “I’m glad this is your approach – your people will respect you for it (as long as behaviour does not undermine the vision and values of the firm).”
Nigel: “Agreed”

Nigel: Point 4 – “There is an indication in the article that one firm has dropped appraisal meetings.  I am not sure about this.  These are used to give people a boost and to formulate action plans going forward and are part of the development process.  They are tie consuming but would not be happy dropping them unless they were replaced with something better.”
Paul: “I was also uncomfortable with the idea of no appraisals for PDP’s or CDR’s too.  If the purpose is to grow the people then CDR’s make eminent sense because if the people do not grow the firm will not grow.”

Nigel – Point 5: “See response to point 3 above”
Paul: “Ditto”.

Nigel – Point 6: “This is fine but the article doesn’t clarify how they are assessed and measured.  The list of KPI’s looks to me like a list of behavioural attributes we might use as part of the appraisal process.”
Paul: “Ron Bakers book ‘Measure What Matters To Customers’ throws more light on this issue because he makes the point about the best measures being directly connected to the customers’ experience.  Like the Continental Airlines – from worst to first story.  They dropped all but three measures (that were tracked and reported to every team member) – on-time arrival – luggage arrival – complaints.  I’ll let you have a copy of the book if you fancy having a read.”
Nigel: “I have read the synopsis provided by AVN – happy to read the whole book if there is more t be learnt.  Critical lesson is what KPI’s to chose.  We have reduced the team KPI’s to three per team already – may be worth only reporting at firm level to the team on 3 – however I think people like to see the OPP and see how the firm is doing.”

Nigel – Point 7: This sounds great however, how is it defined, explained to the client and delivered?  This would need to be overwhelmingly persuasive to get the whole team on board and doing it.
Paul: “a. I went in search of an example on the web sites of the firms in the article to no avail unfortunately.  b. But my view is that a process (see 1a.b.c above) is worth creating and testing to find the ways and means of making this happen.  Speed of production is relatively easily tracked. 
Nigel: “Already tracking this”
Paul: “Proactivity similarly can be tracked too”
Nigel: “This isn’t so easy to make automatic and would be interested to hear your thoughts on this”
Paul: “Value combines these two with both an emotional element (thinking about your ##### story) and the expectations each client has.  There seems to be no choice but to go in search of client expectations if we are going to get anywhere near capturing the VFM of your services with your clients”
Nigel: I agree but simple system/7 questions would definitely be a help. 
The general point is that the principals above are generally understood and by and large accepted but firms practices do not consistently apply them.  It would be disingenous to say that there had been no progress, as clearly there has, but as always progress is slower that I would like”.

I hope you have found this provoking and  would value any further comments or discussions on this.

Every success

Paul Shrimpling

The new year beckons and you want to make the most of 2009 don’t you?

Of course you do.

So what are your goals and what’s your plan?

Like the divers say:

“Plan the dive; and dive the plan.”

Fail at either and you’re likely to enjoy a watery grave. A bit melodramatic I know but true if you’re a diver. As an accountant in practice the same principles apply.

Of my many visits with accountants in 2008 the ones in the last 6 weeks have been the most stimulating.

Why?

Because with the new year round the corner and a recession on everyone’s lips, there’s an increased awareness of our own business mortality.

There’s a modicom of concern, there’s also a sense of fear. UNTIL…

Until a plan is worked out. Then optimism returns. And the likelihood of a prosperous 2009 appears more real (again). So if you’re feeling nervous about 2009 do what the divers do…

STEP1: Plan the dive

Work out what you want for 2009 and then work out a plan that puts your people, your capabilities, your resources to work for you.

STEP 2: Dive the plan 

Implement the plan with the support of your people. Month in month out. Week in week out. Which sounds as though there has to be a detailed plan! Yep, it requires some thought, some time, and some work to get your plan.

Beats not having one though and risking a watery grave!

Paul Shrimpling

PS I know this is old news. I know you know this already. I also know that you’re likely to pass it by because such familiarity breeds a little contempt. Plan the dive and you’ll tap into a source of optimism. Dive the plan and you’ll turn that optimism into practical action that will secure your future. Wishing you a prosperous 2009 and beyond.