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From the category archives:

Strategy

“Strategy is a series of trade-offs”

- Michael Porter

I was discussing strategy with a client of mine recently and she mentioned the above quote that she had heard at a Michael Porter seminar.  I think it sums up STRATEGY perfectly.

In my view great strategy demands:

  • laser-sharp focus
  • stubborness
  • persistence
  • unflappability
  • coolness
  • anti-herd mentality
  • bravery
  • self-belief
  • adaptibility
  • conversation (listening is implicit)
  • clear future vision (that’s well communicated and shared)
  • overall, great leadership

Never has there been a better time to hone these skills than right now. 

Any further traits to add?

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Design Thinking brings about a new way of thinking about client interactions and experiences of working with your firm.

Applying design thinking to an accountancy firm might result in:

  • First impressions – the look and feel of the office reception. Any nice surprises? e.g. the offer of a lavishly made cup of coffee and freshly made cookies?
  • Meeting rooms that inspire creativity and a sense of possibilities – flip charts, colour markers, giant stickies, sharpies, building blocks, play-dough etc
  • Reports and correspondence that are sleek, unfussy and easy to understand (+ recycled of course – or the offer that all correspondence can be sent in digital form only)
  • An ethos that seeks to (and actually manages to) exceed expectations in terms of timetable for delivery and quality of work. Going the extra mile to achieve a WOW service.
  • A Firm that has a social purpose. A social object. Something that binds its team and its clients together for a higher purpose e.g. a proportion of its profits being reinvested in local aspiring companies?
  • Constantly reinventing services. Always fresh. Always invigorating. Clients leave an interaction with your Firm feeling that they are at the cutting edge.
  • Seeking feedback on a continual loop. Was that report good? Easy to understand? Was the presentation good? Did you like the use of graphics? Was that strategy meeting useful? Any suggested improvements? Note comments – then reinvent.
  • Asking better questions. Eliciting new insights. Moving forward with new (potentially game-changing) ideas for clients.
  • Flexible one-size-fits-NONE approach to client work. Assume nothing. Possibility seeking. Yet a turn-key system for internal things that work / need doing e.g. adminstration.
  • Building a porfolio of clients that turn into fans. Where ideas can cross-pollinate. A support network. A tribe. A community.

Think about it…

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Future Face of Accountancy

28 November 2009

Here are 7 potential changes on the horizon for the accountancy profession driven by changing markets: Speed to market becomes even more important.  Innovate; deliver cool services to clients then innovate some more. Deepening specialisms.  Experts rule and become highly marketable. Death of timesheets and time-based billing.  (Good riddance.) Hub and spoke accountancy firms emerge.  Hub consisting of [...]

Monday Morning Focus

Thumbnail image for Monday Morning Focus 16 November 2009

Monday morning.  So easy to get swept up in the day to day.  Busy being busy.  Spending time doing stuff that doesn’t really matter or have any significant impact for clients.  In danger of majoring in minor things… Take the time to plan the week.  Remind yourself of the overarching mission and strategy of the [...]