Productising your practice calls for preempting the underlying issues beneath standard issues. Preempting client issues means you have a clearer understanding of the right solution.
As an accountant I often felt the only way to help clients was to have an individual approach for each of them. I’d fall into the trap of thinking that every client issue was different and found myself wondering how a standard product could deliver what each client wanted.
It can be hard to believe, but I’ve discovered that repeatable processes actually deliver the best solutions for clients. This is partly because the client actually gets better results from duplicatable processes over the long term.
When I look back I realise that I couldn’t see the success of a duplicatable structure that delivers successful outcomes and today as a coach, I still see this within our industry.
Take a client with cash flow problems. Typically they want/need a quick fix, for the lowest price, because afterall, they have no cash to spare.
We know cash flow problems have predictable drivers – over spending, lack of income or failure to collect. This means we can apply a predictable process to preempt the real issues, fully utilise previous client experiences and easily identify the right methods to recover a positive cash flow for our client.
Put simply, we are applying the same steps to identify the underlying issues, then drawing on our knowledge and experience to come up with the right solution for that client.
Products provide more value (to you and your client)
When you bundle your value add services into set products they can be presented to clients as methods that produce results, and can be delivered as repeatable processes by your team.
Once I realised that positive cash flow is all about consistency, we designed a “management by numbers” service product that we knew could fix client cash flow problems forever.
Delivering the ‘Management by Numbers’ product was more efficient than approaching each client’s cash flow issue as a new problem. It also provided a vital solution that empowered client decision-making and was more profitable for both the client and for ourselves as a result.
Try applying this in your practice…
The process I describe is a great example of my “Innovation by Design” model. its all about finding products within your previous one-off client projects.
To apply it in your practice these steps:
- Systemise – Review your latest one-off project to see what structure you used to deliver the solutions.
- Automate – Now set up a process that can be used over and over again, allowing for the individualisation of clients demographics as the tail end tweak.
- Industrialise – create a premium practice culture, one of eliminating projects altogether and creating solutions that can be delivered to many.
Remember these points as you build your practice
- Say ‘no’ to projects, unless you can repeat them.
- Make time to innovate.
- Deliver over and over and over…
- Get help when you get stuck (see below)
Turning your projects into standard products is not always straightforward. It can be confusing to effect the mindshift from projects to products, and easy to get caught up by individual client details that seem to call for your tailored approach.
My free Premium Practice Clarity session is designed to cut confusion, and get you thinking strategically again… (about more than just your products)
I’ve become an expert at creating duplicatable processes for practices to deliver value to clients. If you’d like to see this in action and find out how it can unlock the formula for your own Premium Practice, you can…
Right now you can book a free 10 minute Premium Practice Clarity session that will:
- Expand the vision of your own Premium Practice model;
- Examine the current situation in your practice, including current roadblocks; and
- Map out the next step towards your growth goals
To book your session, you can use the link below to view the available spots for this week, and secure one for yourself.
Leave your contact number, I’ll ring you at the assigned time and we can get started on building your own Premium Practice model.
[or copy and paste this link into your browser>> www.timetrade.com/book/6SWV1]