Prediction # 12 – A hub of business success
When I enter the door of the new accounting firm I want to be met by my ‘client relationship manager’ (CRM) who manages my relationship with the firm. This person will assess my needs and determine which services I need to fulfil my future direction. They will then ask various professionals within the business to do the work necessary. I do not intend to visit division after division and be asked the same or similar questions.
The ‘silo’ and ‘division’ based model is an ineffective business model. This model does not encourage effective ‘cross selling’ or internal referrals. Rather it promotes ‘turf wars’, ‘client hogging’ worst of all the clients are not properly served with what they need. The client is a client of the firm – not the individual.
The new accounting firm will become a “Business Success Centre” and a hub of business – a delivery platform of likeminded providers.
Business Success Centre (see diagram)
- Tax / Compliance (tax planning, quarterly / monthly accounts, audit)
- Business Advisory (management accounting, budgets, cashflow, monitoring)
- Consulting / Coaching (special projects, recruitment, succession, ongoing personal and business coaching)
- Finance Broking (vehicles, leasing, equipment, property)
- Risk Management (insurance and risk advisory)
- Wealth Creation (stockbroking, financial planning, funds management, investment advice)
- Concierge (all clients represented as nodes referring each other and the act is the central point through a web based portal)
The future is exciting for those firms who want to embrace it.
It is my life’s work (and that of my business) to help accounting firms dramatically improve their financial position. To supercharge your performance.
We want to lead you into this exciting new world. Come with us on the journey.