Last week’s Thought Activator discussed how critical it is to get your Foundation Platform in place in order to implement Value Add Services in your firm. This week continues on building this platform by looking at how valuable time is.
When I speak to Accountants about Value Add Services, the biggest concerns about implementation concern time. Specifically, it’s about not having enough time.
I hear it, and I understand it. We have compliance deadlines, client deadlines, team and staffing deadlines. If one project gets checked off our ‘to do’ list there are usually three urgent ones right behind it, and they are about to be overdue.
Our diaries are quickly filled with the minutia of running a practice, keeping abreast of ever-changing regulations, following industry news and straining to stay on top of technological advancements in hardware, software and internet, not to mention making sense of how these are or will affect us. Smart devices mean the grind continues long after we leave the office, our reading will never be complete, our inboxes never empty.
It’s the reality for many firms. A reality that is holding them back from greater opportunities, both within the firm and the personal potential of the partners.
Finding the time, or the capacity, to execute VAS is as critical as getting your foundation right. In fact, you could even say that finding the time, is THE MOST IMPORTANT element of getting your foundation right.
My Capacity Model summarises how some fundamental changes can enable you to increase your capacity volume whilst decreasing your personal time and effort.
Strategic Expansion of your capacity and time is just one of 12 Steps I took that enabled me to execute the level of activity required to triple my Firm’s Average Fee per client and significantly improve our bottom line.
