Strategy and Structure Are The Key
Simplifying what one does in a business environment makes a huge impact for the good! Focusing on getting all firm owners to collate their plans and simplify them to one page has been critical to their success.
Having a plan is one thing. How you use it is another!
Putting a structure in place to ensure your standard of work is done consistently and at the high levels you desire is the KEY thing to make your strategy work. The simple way to be successful in business is by working out how you will do 4 things:
- Get people to do what you want
- When you want it to be done
- How you want it to happen
- Be consistent in your output
This happens when owners of businesses, like you, get their strategy right and their structure in place – ensuring that the strategy is executed consistently.
The results of this approach in revolutionising the owners, the LEADERS of the business, is:
One client has gone from $600k profit to $1.35M within 3 years while revenue only grew 7%! This same firm was in overdraft to the tune of -$400k three years ago as an avg cash balance for the year and now they are +$550k – a mere $990k turnaround. The staff numbers have reduced by 10% and we have not even outsourced yet to pick up the payroll savings and increased profit! This year we are increasing profit another $300k, increasing their dividends by 50% and decreasing their time in the business by 1.5 days per week.
Another client has gone from $2M firm to $3M firm, with an EBITDA over $1M from $430k, average cash at bank per year from $189k to over $500K, increasing their client base annually from an average of +5 (might lose 10 clients and gain 15, to get the +5 result) to +43 new clients EACH YEAR at a 37% increase of annual fees than the existing clients (yes, we have also culled clients), from a $1,400 recurring leveraged income to $180,000 p/a, from 5.5/6 days a week work to 4/4.5 days a week and having +8 weeks holiday annually – all this plus more in the last 5 years.
The list goes on and on.
I am trying to illustrate to you the results are three dimensional and profound for the firm owner and the clients of the firm. It can be the same for you!
At the cupcoming reckon Conference, Mark Jenkins and I will share with you what these firms are doing and how you can do it yourself to get the results you would love and deserve.
See you at the Reckon Conferences in September!
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Join us in conversation with two Reckon APS clients at this years Reckon Conference in Melbourne, Auckland, and Sydey. Trent Taylor (Teach It Forward) and Mark Jenkins (2020 Business Dynamics) will offer some great insights from the viewpoint of the APS client in their session ‘Revolutionising Your Accounting Practice.
Photo: “Yüzey” by Tuncay Coşkun is licensed under CC BY 2.0