Over the past 20 years I (and my colleague Colin Dunn) have been involved in creating, marketing and selling approx. $170M of information products. There have been a range of delivery formats – group coaching, seminar, conference, group phone coaching, in a box, online, software, webinar etc. Here is a checklist we go through every time. You might find it useful.
- What do we know?
- What markets would buy it?
- How are we going to package it?
- What technology do we need to create/deliver/support it?
- How are we going to market the products?
- How are we going to sell the products?
- How are we going to deliver products?
- How are we going to support products?
We’re running a 2 day high end product development symposium on Hamilton Island. December 5&6 2013. It’s going to answer all these questions and show you exactly how to do it. Let me know if you’re interested. Send to email@example.com
I often wonder what Partners of Accounting firms do all day. Sure they are busy – but are they effective? Accountants are good at time sheets so why not keep one for a couple of weeks on exactly where you spend your time. Once the log starts repeating itself stop keeping the log. Then go through an highlight the single ‘highest dollar productive’ activity over the past couple of weeks. Then highlight the 2nd highest then the 3rd. Stop at 3.
When you’re done I will bet that the best use of your time is something like:
- Doing high end advisory work – not compliance but value added work based on value based fees work
- Sales meetings with existing or prospective clients
- Leadership – driving performance or coming up with new ideas (reading this blog and implementing counts BTW)
Everything else is not a good use of time. The highest performing firms do not let Partners do anything else but these 3. How are you spending your time?
The term BHAG has been around a while. It was Jim Collins in his landmark book “Good to Great” who first coined the term. A Big Hairy Audacious Goal!
The late JFK had one in 1962. He said “by the end of this decade we’re going to put a man on the moon and safely bring him home”. That BHAG inspired a nation and many parts of the world.
What is your inspiring BHAG? It needs to inspire you, your team and (depending on what it is) your clients. It could be revenue – $XM in revenue in 10 years. It could be client centric – a Billion dollars of wealth in our client base. It could be service/client centric - every client to be financially retired.
Whatever it is it needs to be grand, amazing and inspiring.
Many Accounting firms I meet are just existing by default (not by design) and they have no goals or they have a SMAG…Small Minded Ambivalent Goals.
It’s your business - design it the way you want.
Today marks the 8th Anniversary of my current business. It started in my home study in November 2005. In the first month I did the grand sum of $2k in revenue! I have made a profit every year since inception – so pretty happy about that.
What started out as humble beginnings with no clients now we have clients in 40 countries (served by 20 team members in 4 locations) and have interacted with thousands of Accounting firms along the way. Providing a whole range of coaching, training, information products, online tools and software applications.
It’s been an exciting 8 years (and not all plain sailing) and I want to thank all the suppliers, team members, alliances, supporters and especially the clients for accepting the (sometimes) whacky ideas, the prodding the cajoling and the information we put forth. Happy Birthday to us – here’s to the next 8 and more!