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FREE DOWNLOAD!! Accountants! Scale your business today 🚀Accountants Highway to the Danger Zone Playbook is a guide for accountants and bookkeepers looking to overcome the barriers that are holding them back from growing their firms. Our playbook shows you exactly what tactics we used when growing our firm so you can replicate it in your business today!Click here to download the Accountants Highway To The Danger Zone Playbook 👉 https://wizementoring.mykajabi.com/accountants-highway-to-the-danger-zoneEpisode 33: Planning your 2023 business growth strategyIn this episode of The Wize Guys Podcast, Jamie Johns touched on how to determine your ideal turnover to reach your ideal income. This is part of the barriers to growth that will allow you to develop an effective business plan and growth strategy.Find out the best tips in accounting business’ planning for 2023!Timestamps:0:43 - The concept of business plan and growth strategy1:12 - How to figure out your ideal income2:18 - Grab your FREE business plan template3:28 - Step-by-step guide to creating your growth planQuotations:“...part of overcoming the barriers to growth is to try and reach what your ideal turnover or fees are in order to reach your ideal income.” - Jamie JohnsUSEFUL LINKS:Business Plan TemplateDownload FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE DOWNLOAD!! The Biggest Secrets to Recruiting Qualified Accountants.Do you find yourself struggling to recruit qualified staff in your Accounting Practice?The Accountants Recruitment Secrets Playbook is a guide for accountants who want to attract, hire and retain the best talent. It includes recruitment strategies, tips on how to attract talent, and advice on what to do when you’ve found them.Click here to get a free copy of the Accountants Recruitments Secrets Playbook 👉 https://www.wizementoring.com/book-recruit/Episode 32: The First 90 Days of onboarding a new recruitRECRUIT - team structure, recruitment, management, leadershipIn this episode of The Wize Guys, Brenton Ward, Jamie Johns, and Ed Chan talk about the importance of training your new recruits and why having a proper onboarding procedure equates to investing in the balance sheet of your firm.Learn more on this episode to get you equipped in onboarding new recruits for your accounting firms!Timestamps:0:35 - Understanding the context of investing in a balance sheet3:45 - The importance of attitude for client-facing post4:42 - Difference between client fanatical from team fanatical5:56 - Working IN vs Working ON7:29 -  Tips for onboarding a finder, minder, and grinder15:43 - Hiring an experienced VS fresh graduate 20:13 - How to communicate with clients21:34 - Best training for senior client manager and senior production manager23:04 - Assessing the improvement through review points24:51 - How to build the framework for the first 90 days35:46 - Why you should involve managers in the recruitment process36:36 - Key steps in getting offshore team members set up and trained46:46 - The risk for the 6-month probationary period48:41 - Why 90 days is critical51:09 - How much training do you do in the onboarding process? 51:41 - The importance of the ‘how-to’ videos 53:21 - Is it worthwhile to hire part-time staff?55:22 - How to measure productivity with outputsQuotations:“I often talk about how your staff is your greatest asset, but it's also your greatest challenge.” - Ed Chan“Don't fix their mistakes, let them fix their own mistakes.” - Jamie JohnsUSEFUL LINKS:Employee Handbook TemplateFREE eBook: The Biggest Secrets to Recruiting Qualified Accountants Download FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE DOWNLOAD!! The Biggest Secrets to Recruiting Qualified Accountants.Do you find yourself struggling to recruit qualified staff in your Accounting Practice?The Accountants Recruitment Secrets Playbook is a guide for accountants who want to attract, hire and retain the best talent. It includes recruitment strategies, tips on how to attract talent, and advice on what to do when you’ve found them.Click here to get a free copy of the Accountants Recruitments Secrets Playbook 👉 https://www.wizementoring.com/book-recruit/Episode 31: How To Test Potential Hires In Your Accounting Firms ┃For Grinders & Minders RoleIn this episode of The Wize Guys, Brenton Ward, Jamie Johns, and Ed Chan discuss the pre-employment tests to conduct with candidates and give tips on how to find the right people with the right attitude for your Accounting Practice.Learn the difference between the grinder and minder roles that will best suit the accounting posts within your firm.Timestamps:0:35 - The importance of having the right attitude1:42 - Tips for hiring people for your accounting practice2:45 - Why context in the test is essential in filtering applicants3:22 - FREE Tool!! Accounting Tests for Wize Members4:43 - 'I know how to do it’ vs 'Doing the actual task'6:10 - Why speed is everything to accounting firms7:49 - What does it take to be in the Minders Role10:36  - Which personality test to use for green and blue persons15:01 - Key takeaways for Grinders and Minders Role TestingQuotations:“Attitude is everything.” - Ed Chan“Some accountants are not suited to our industry, so not all accountants are suited to our industry, and often they should go off and work in a commercial firm where speed isn't an issue, but for us, speed is everything.” - Ed Chan“A blue person's more focused on numbers, while a green person's more people orientated.” - Ed Chan“... the personality test testing works better with a minder finder than it does with a grinder.” - Ed ChanUSEFUL LINKS:FREE Tool!! Accounting Tests for Wize MembersDownload FREE eBook: The Biggest Secrets to Recruiting Qualified Accountants Download FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE DOWNLOAD playbook to streamline your practice workflow system! The Accountants Systems Playbook has been written by accountants for accountants with one goal in mind: To give you everything you need to finally take control of the traffic flow running through your practice. Click here to download: https://wizementoring.mykajabi.com/accountants-systems-secretsEpisode 30: Client Portfolios: How to Allocate Clients to Teams EffectivelyDESIGN - business planning, systems, processes, production, techIn this episode of The Wize Guys Podcast, Ed Chan and Jami Johns with the Wize Mentors, Timothy Causbrook and Thomas Sphabmixay tackled client portfolios and how to allocate clients to teams effectively. This is important because it helps keep your staff balanced so they know what needs to be done day-to-day!Discover how you can allocate clients among teams effectively in order not to overwhelm any given person or group with too many tasks at once.Timestamps:1:28 - The importance of building client portfolios3:10 - Hiring tips: junior client manager vs senior client manager4:52 - The roles of client managers within the traffic flows12:14 - How to match accounting managers to clients13:31 - The rule of thumb when it comes to identifying fees15:28 - Why communication skills are critical in recruitment17:11 - Who is more busy: accountants or bookkeepers20:58 - The common challenges in structuring the client portfolios26:37 - When is the ideal time to hire a senior production manager31:49 - Tips and tools for managing client portfolios38:23 - Defining what client-facing is41:24 - Why capacity planning is essential to allocate time for A-D clients44:53 - Key takeawaysQuotations:“You get the right people in the right seat, the right capacity, and also the right resource mix .” - Ed Chan“...owners tend to be client managers by nature.” - Tim Causbrook“It's very important that whoever you choose as the client manager is a people person and can relate to different people. I think it always says you can't change elected spots, you're either born the right way or not.” - Jamie Johns USEFUL LINKS:Get to know more about the No Bypass Policy Video 5.3 - How to Implement an Assistant Client ManagerDownload FREE eBook: Accounting Systems PlaybookDownload FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE DOWNLOAD playbook to streamline your practice workflow system! The Accountants Systems Playbook has been written by accountants for accountants with one goal in mind: To give you everything you need to finally take control of the traffic flow running through your practice. Click here to download: https://wizementoring.mykajabi.com/accountants-systems-secretsEpisode 29: How to Transition from Top-down to Bottom-Up ManagementIn this episode of The Wize Guys Podcast, Brenton Ward, Ed Chan, and Jamie Johns talk about the difference between Top-Down Management versus Bottom-Up Management is similar to Command and Control versus Leadership by Empowerment.Top-Down Management is about getting Control (Command & Control) whereas  Bottom-Up management is about Giving up Control (Leadership by Empowerment). Find out how you can start implementing Bottom-Up management in your Accounting practice so your team can run the business for you and prevent you from becoming a prisoner in your business. Timestamps:0:35 - The importance of delegation2:14 - Communication traffic vs production traffic3:07 - How to allocate time with your people and clients4:09 - Tips for handling A, B, C, and D types of clients7:14 - How to manage difficult clients10:15 - Ways to design bottom-up management15:34 - What are the quad A & B activitiesQuotations:“The problem with delegation is that if you don't hire the right person and give them the right training and they'll make a mistake. You'll get discouraged by it and you'll feel like, ‘Oh, if you wanna do it right, you just gotta do it yourself.’” - Ed Chan“We have an internal policy and procedure that any sensitive matters are not to be communicated with the clients via email.” - Jamie Johns“It's really hard to differentiate between a client that's simply recalcitrant and a client that just needs more education and more training and changing their habits.” - Ed Chan USEFUL LINKS:FREE DOWNLOAD playbook to streamline your practice workflow system: The Accountants Systems Playbook Download FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE DOWNLOAD!! Accountants! Scale your business today 🚀Click here to download the Accountants Highway To The Danger Zone Playbook: https://wizementoring.mykajabi.com/accountants-highway-to-the-danger-zoneEpisode 28: Selling the sizzle not the sausage - Get paid for your advice with our 3-phase discovery, proposal, and production system“Selling the sizzle and not the sausage is a philosophy that we have in Wize. What we mean by this is that the client manager is not necessarily the most technical person on the team.”In this episode of The Wize Guys Podcast, Wize Mentors, Timothy Causbrook with Thomas Sphabmixay, and Kristy Fairbairn discuss how the three phases of the process ~ discovery, proposal, and production give every accounting practice the opportunity to scale their marketing, sales, service, revenue growth and M&A’s.Timestamps:0:35 - Reasons why sales is essential for your accounting firm1:48 - The 3-phase framework system of discovery, proposal, and production6:26 - Issue #1: Not charging for every service you do7:19 - Issue #2: Dealing with ad hoc services8:42 - Issue #3: No menu of services to offer10:28 - Issue #4: No ideal leadership structure11:16 - The importance of having a menu of services12:51 - Issue #5: Budget constraints16:07 - Issue #6: Needing more work17:39 - Issue #7: Upselling client services19:51 - Issue #8: Marketing the practice25:53 - The best time to give a client proposal26:45 - Issue #9: The irony of having low service rates27:17 - Tips for training client managers31:56 - The philosophy of selling the sizzle not the sausage33:50 - Basic work vs ad hoc pricingQuotations:“When clients are coming to us, like we as advisers, whether you're a bookkeeper, your accountant, or your lawyer, it doesn't matter. We should take a step back to actually see how can we learn more about their problem.” - Thomas Sphabmixay USEFUL LINKS:WizePulse Live Clinic November 2021: How to Develop and Install Your Menu of Services Wize Vault Video 15.8 Developing Your Menu of Services Download FREE eBook: Accountants Highway to the Danger Zone PlaybookDownload FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE DOWNLOAD!! Accountants! Scale your business today 🚀Accountants Highway to the Danger Zone Playbook is a guide for accountants and bookkeepers looking to overcome the barriers that are holding them back from growing their firms. Our playbook shows you exactly what tactics we used when growing our firm so you can replicate it in your business today!Click here to download the Accountants Highway To The Danger Zone Playbook: https://wizementoring.mykajabi.com/accountants-highway-to-the-danger-zoneEpisode 27: Why firms need scalable technologyIn this episode of The Wize Guys Podcast, Jamie Johns delved into the use of technology in scalability. With scalability, it’s important to roll out your tools and systems to really anywhere in the world, at any time and any place.In line with this, he introduced SharePoint, a handy software from Microsoft that allows users to easily access and navigate through all of the tools and programs they use in their firm. Watch the video to learn more about SharePoint and how it can help scale your firm, particularly in the technology area.Timestamps:0:35 - Reasons why technology is the 2nd barrier to scaling your practice1:14 - Key Point #1: Sharepoint and CloudStack3:52 - Key Point #2: Technology order4:22 - Key Point #3: SecurityQuotations:“The second barrier to growth that it and all are talking about in step eight is the use of technology and scalability. So with scalability, it's really important that you can roll out your equipment or tools or systems to really anywhere in the world at any time at any place.” - Jamie Johns“Do a technology audit you feel like, and use the technology audit to determine what systems are still server dependent versus what is cloud-dependent or cloud-based.” - Jamie JohnsUSEFUL LINKS:Download FREE eBook: Accountants Highway to the Danger Zone PlaybookDownload FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE DOWNLOAD!! The Biggest Secrets to Recruiting Qualified Accountants.Do you find yourself struggling to recruit qualified staff in your Accounting Practice?The Accountants Recruitment Secrets Playbook is a guide for accountants who want to attract, hire and retain the best talent. It includes recruitment strategies, tips on how to attract talent, and advice on what to do when you’ve found them.Click here to get a free copy of the Accountants Recruitments Secrets Playbook 👉 https://www.wizementoring.com/book-recruit/Episode 26: How to Get Your Capacity Plan Humming“As Jamie uses that analogy with the glass of water you want to, if you want to grow, you've got to have that cup, not at the full at the ring...” In this episode of The Wize Guys, Brenton Ward, Jamie Johns, and Ed Chan talk about Capacity Plan – The most critical tool for a high-performing and profitable production and discuss how having a capacity plan in place is one of the fundamental tools they recommend for scaling a practice. They provide some insight into capacity planning and why it's so important to the growth of the business.They also discuss what are the most common reasons for overcapacity. What are the negative outcomes because of this and what are suggested approaches to correcting this? Learn more on this episode to get you started to work on your capacity plan in place!Timestamps:1:11 - Understanding the context of a capacity plan2:25 - The importance of having a capacity planner5:04 - How to science right with your people8:54 - The rule of thumb10:20 - Tips for capacity planning13:12 - Most common reasons for overcapacity17:38 - Key points to work in capacity planning23:29 - Reasons why you need spare capacity28:02 - How to allocate productivity with training30:12 - Is it ok to disclose staff salaries to the team?32:04 - How to determine charge-out ratesQuotations:“In our industry, productivity really gets the clarity because between charging right and productivity and the number of hours a person works, this is what your capacity is per person and wallet. It’s not an exact science. It's a really good guide, particularly if you're trying to grow your firm.” - Jamie Johns“So just getting the balance rights important between servicing and growth. If you want to grow, you've got to spend more time in front of your clients.” - Ed ChanUSEFUL LINKS:FREE eBook: The Biggest Secrets to Recruiting Qualified Accountants Download FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE DOWNLOAD!! The Biggest Secrets to Recruiting Qualified Accountants.Do you find yourself struggling to recruit qualified staff in your Accounting Practice?The Accountants Recruitment Secrets Playbook is a guide for accountants who want to attract, hire and retain the best talent. It includes recruitment strategies, tips on how to attract talent, and advice on what to do when you’ve found them.Click here to get a free copy of the Accountants Recruitments Secrets Playbook 👉 https://www.wizementoring.com/book-recruit/Episode 25: How to identify the best candidate for your practiceIn this episode of The Wize Guys, Brenton Ward, Jamie Johns, and Ed Chan talk about why attitude is the most essential factor to consider when identifying the best candidate in the recruitment process.Find out more about hiring people onshore and offshore for your accounting practice.Timestamps:0:35 - Hiring Onshore vs Offshore employees1:19 - How outsourcing can help you save more resources3:57 - The importance of attitude5:05 - How to utilize technology in the recruitment processQuotations:“Absolutely the whole idea of running your business efficiently and to be able to make some profit and about pay your staff a decent wage, and to remain competitive with your competitors in terms of your fees. Everybody's got to win. Your clients are got to get the best price for your services. Your staff has to get paid really well. And you've got to make a profit.” - Ed Chan“I always think every interaction you have with a candidate reflects their attitude is the most important thing because you cannot train, you cannot generally change someone's attitude.” - Jamie JohnsUSEFUL LINKS:FREE eBook: The Biggest Secrets to Recruiting Qualified Accountants Download FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE DOWNLOAD playbook to streamline your practice workflow system! The Accountants Systems Playbook has been written by accountants for accountants with one goal in mind.   Click here: https://wizementoring.mykajabi.com/accountants-systems-secrets Episode 24: Step-by-step Guide for every Accounting Practice’s Withdrawal JourneyWhat has changed in the accounting system? What are the latest trends and things to adopt for your accounting business?In this episode of The Wize Guys, Brenton Ward, Jamie Johns, and Ed Chan talk about Your Withdrawal Journey – building a practice that runs without you. If you are frustrated in your current situation and don’t feel like you are withdrawing from certain functions quickly enough, our mentors have some advice for you plus the use of WizeHub. Learn more on this episode.Timestamps:1:19 - How life-changing is the current system for accounting firms3:17 -  Why people are the greatest challenge and asset4:28 - TIP #1: Train your people to do the job.6:59 - The importance of stepping back7:39 - TIP #2: Document everything ~ every process you have.8:16 - TIP #3: Hone every structure for better leadership, flow, and productivity11:39 - TIP #4: Encourage bottom-top and not top-bottom hierarchy.12:39 - TIP #5: Be in control, and not be controlling.13:25 - What are the danger zones and roadblocks in the withdrawal journey?13:40 - How money should work for you and your business15:26 - How to run and manage an accounting business17:23 - Working IN the business vs Working ON the business22:23 - How to make the resource mix right27:08 - Reasons why you should take responsibility28:21 - How to start building a business that can run without you34:36 - How to hire strategically36:02 - Understanding the concept of ‘I don’t have time.’39:54 - Short-term vs. Long-term/ Urgent vs. Not Urgent/ Important vs. Not Important42:50 - Top tips for successQuotations:“..people are our greatest challenge, but they're also our greatest asset.” - Ed Chan “...just document everything you do. It's impossible to delegate and withdraw unless you document how to do things in the first place.” - Tim Causbrooks“Being busy is not the same as being productive.” - Ed Chan“..the only difference between successful people and unsuccessful people is just simply the way they think.” - Brenton WardUSEFUL LINKS:FREE eBook: Playbook to streamline your practice workflow system Download FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE DOWNLOAD playbook to streamline your practice workflow system! The Accountants Systems Playbook has been written by accountants for accountants with one goal in mind: To give you everything you need to finally take control of the traffic flow running through your practice. Click here to download: https://wizementoring.mykajabi.com/accountants-systems-secrets Episode 23: How to Set Up Your Accounting Firm's Meeting RhythmTIME and FOCUS  ~ are two important factors for work productivity. Now, how to achieve both without losing the other?In this episode of The Wize Guys, Brenton Ward and Jamie Johns talk about the importance of setting up meeting structures in your firm to help your teams improve productivity, save time, reduce hassle, and attain goals. So, make sure to grab a pen and paper for another action-packed episode.Timestamps:0:52 - The importance of having team meetings2:35 - Management vs Leadership3:50 - Why you should create an extraordinary system4:09 - The concept of daily huddles5:36 - Best practices for a meeting7:19 - 3-question guide to achieving a seamless flow9:14 - The argument of losing timeQuotations:“There are so many benefits to having the right meetings and also running the meetings right. And I think it was Peter Drucker who said, management is doing the right things, but leadership management is doing things right.” - Jamie Johns“...one of the main principles from the aim of Michael Gerber's book in the south often prefer to, but it's all about systematization. And if we create a system in each of these meeting structures, we increase the chances of them being implemented into the fabric of the business and into the culture.” - Brenton Ward“It also fits into the Ethos, Brenton, that it always says create extraordinary systems so that you don't need extraordinary people.” - Jamie Johns“...there's always, that allows for that priority to the filters at the top. And everyone else on that team instantly knows that that becomes a priority. This is the power of the daily huddle.” - Jamie Johns“I think it's not about perfection, it's about improving…like Ed, said, it's not an exact science, but providing you're doing it and you've got 80% of it, right? And it works and achieves the goals, which are filtering the priorities to the top and ultimately services servicing your clients.” - Jamie Johns USEFUL LINKS:FREE eBook: Playbook to streamline your practice workflow system Download FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Linkedin: https://www.linkedin.com/company/wizementoring/Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringInstagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE DOWNLOAD!! Accountants! Scale your business today 🚀Accountants Highway to the Danger Zone Playbook is a guide for accountants and bookkeepers looking to overcome the barriers that are holding them back from growing their firms. Click here to download: https://wizementoring.mykajabi.com/accountants-highway-to-the-danger-zoneEpisode 22: Let's talk about REFERRALS! How to build a solid referral program and system in placeIn this episode of The Wize Guys, Ed Chan with Wize Mentors, Thomas Sphabmixay, and Timothy Causbrook discuss how having a referral program in place increases the chances of getting quality referrals and keeping the business of these clients. They also shared insight on understanding Quad activities and how tracking client NPS as part of the Fab5 KPIs can also lead to a much more streamlined referral system.Find out how a solid referral program and the system can help your accounting practice to scale up.Timestamps:0:55 - How to implement a referral process1:35 - Why referrals are the most efficient way to leverage2:18 - The importance of client service and communication3:29 - What is the ideal time to respond to clients4:10 - Understanding the service industry4:23 - How to create a communication client policies 5:49 - Why client approval meeting is essential7:33 - Tips for giving value to clients11:45 - The positive impact of having your clients involved12:36 - Understanding the emotional bank account13:43 - How to build a solid referral system15:03 - The biggest challenge with referrals16:43 - How habits can affect leading17:19 - The importance of being patient19:21 - Why you should know your team member’s full potential22:59 - How to build a referral strategy23:32 - Understanding the different concepts of quad activities28:49 - Why the first year is all about investment30:51 - The importance of having the right mindset33:01 - Best strategies and attitude to make your team ready35:45 - How client tracking can boost referrals40:50 - Why it is more expensive to win a new client than your existing client42:34 - How to take actionQuotations:“..if you don't focus on the client, you're not going to get referrals from them… The senior client manager's role is to talk to the clients and to have a bridge between the production team and the clients. So they're communicating at the client's level.” - Ed ChanUSEFUL LINKS:Learn more about The Wize Fab 5 Key Performance Indicators Learn more about Net Promoter SystemDownload FREE eBook: Accountants Highway to the Danger Zone PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript
FREE DOWNLOAD!! Accountants! Scale your business today 🚀Accountants Highway to the Danger Zone Playbook is a guide for accountants and bookkeepers looking to overcome the barriers that are holding them back from growing their firms. Our playbook shows you exactly what tactics we used when growing our firm so you can replicate it in your business today!Click here to download the Accountants Highway To The Danger Zone Playbook: https://wizementoring.mykajabi.com/accountants-highway-to-the-danger-zoneEpisode 21: How To Improve Your Accounting Firm’s Sales Process ┃ Wize Mentoring  Business Tips“According to statistics, 80% of sales are made on the fifth to the 12th point of contact.”In this episode of The Wize Guys, Brenton Ward, Jamie Johns, and Ed Chan talk about Jamie’s journey running his firm, Sky Accountants. As Jamie was able to develop a successful selling system and an effective sales process that helped them achieve significant growth, find out how you can add divisions in your organization that you should focus on and the selling system that you should start implementing in your own firm.Timestamps:0:35 - Jamie’s successful journey with Sky Accountants2:27 - Why client communication is important2:59 - Understanding the LAPS system3:15 - The importance of calling your leads3:35 - Why speed is critical to sales3:51 - How to keep your leads alive5:48 - Why leadership is important6:56 - Ways to use the calendar with your leads’ follow-up8:25 - How to make your team involved in the sales processQuotations:“..one of the most important aspects is replying.” - Jamie Johns“If you don't follow up the lead, you just won't have the organic growth that you otherwise may have had.” - Jamie Johns“..people get busy, we all get busy. My mentality was, and I always kept staying at Sky is it's no until it's a no.” - Jamie Johns“one of the reasons why the deep and narrow team structure so important is because we need the senior client managers to have that capacity, whether they're off the tools to have the ability to manage the lead inflow and actually nurture leads and engage in the sales process.” - Brenton WardUSEFUL LINKS:Learn more about the LAPS SystemDownload FREE eBook: Accountants Highway to the Danger Zone PlaybookDownload FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE DOWNLOAD!! The Biggest Secrets to Recruiting Qualified Accountants.The Accountants Recruitment Secrets Playbook is a guide for accountants who want to attract, hire and retain the best talent: https://www.wizementoring.com/book-recruit/Episode 20: Micro-training your team - how to teach them about the deep and narrow team structureIn this episode of The Wize Guys, Brenton Ward with Jamie Johns, and Ed Chan share the principles of a deep and narrow team structure for every accounting practice.Find out how to lead your team in transitioning, implementing, and embracing a whole new concept and process. The Wize Mentors discuss the most common challenges that practice owners face when training their client managers and production team. Also, hear some ideas on how to overcome if you have a staff who pushes back on this objective.Timestamps:0:35 - The concept of deep and narrow teams1:44 - Best ways to address and transition to a new structure3:35 - How to manage traffic: communication and production areas4:23 - That ‘football analogy’ of a team structure5:29 - Most common challenges and pushbacks to face in transitioning7:13 - Idea #1: Don't be discouraged.7:42 - Idea #2: It takes time to change habits.8:26 - The importance of having your team understand the objectives9:29 - Idea #3: Encourage to lead.10:56 - Idea #4: Manage resources properly.11:55 - The analogy of a production triangle14:05 - Different forms of pushback15:03 - Idea #5: Choose the senior people.15:55 - Idea #6: Conduct 1-on-1 discussion.16:49 - Idea #7: Educate the team.17:08 - Why complexity kills businesses17:46 - Idea #8: Be persistent and consistent.18:35 - Which is more effective: 1-on-1 discussion vs group meeting20:33 - Idea #9: Do it efficiently, but manage effectively.22:12 - Idea #10: Do it slowly.25:10 - How to handle losing people along the process26:04 - The importance of ‘No Bypass Policy’ 27:12 - Idea #11: The body-system reporting.28:07 - How structure is related to your internal processes28:41 - Idea #12: Stop undermining and delegate.30:14 - Idea #13: Follow the hierarchical system.31:14 - Idea #14: Empower the team.Quotations:“So you've got to know your people and put them in the right position.” - Ed Chan“People learn differently. Sometimes the light comes on at a particular time when they're ready. So often, it's been said, the teacher appears when the student's ready.” - Ed ChanUSEFUL LINKS:No Bypass Policy Download FREE eBook: The Accountants Recruitment Secrets PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE DOWNLOAD!! The Biggest Secrets to Recruiting Qualified Accountants.Do you find yourself struggling to recruit qualified staff in your Accounting Practice?The Accountants Recruitment Secrets Playbook is a guide for accountants who want to attract, hire and retain the best talent. It includes recruitment strategies, tips on how to attract talent, and advice on what to do when you’ve found them.Click here to get a free copy: https://www.wizementoring.com/book-recruit/Episode 19: How Accounting Firms Can Track their Performance┃Best Approach to Measure KPIsIn this episode of The Wize Guys, Brenton Ward, Jamie Johns, and Ed Chan discuss how they track their own firms' KPIs over the years and why it's important for Accounting Practice Owners to track their numbers.So, make sure to grab a pen and paper for another action-packed episode.Timestamps:0:34 - How to monitor your team’s KPIs1:23 - How to start your own accounting firm1:50 - The importance of stepping back2:31 - ‘Why running companies is like raising kids’3:02 - The analogy of driving a car3:24 - The Wize Fab 5 Key Performace Indicators3:56 - How to be in control without controlling4:20 - That concept of being a ‘winner’5:06 - How culture can affect your business5:49 - Why Fab 5 is the best dashboard for every accounting practice6:11 - Understanding the difference between running it as a practice and from business7:01 - Why top-down management can’t scale a business8:46 - Why bottom-up kind of management is better9:33 - How to create a business that runs without you10:39 - Timesheets: YES or NO?11:17 - Extraordinary systems vs Extraordinary peopleQuotations:“I always come back to what Verne Harnish, the founder of EO & Gazelles, a known global coaching group, said running companies is like raising kids.” - Jamie Johns“It's like driving a car, you've got a dashboard, and the fewer gauges we have to look at to know that we're going okay, the better.” - Jamie Johns“I think the problem is that there is confusion between running it as a practice versus running it as a business. And if you run it as a practice, that means you're managing it from the top down… But the problem with that kind of management system from top-down is that you can't scale that business and you become a prison in that business because if I take you out of there, that's the end of the business... But if you want to grow and scale it, you need it to be managed from the bottom up, not from the top down.” - Ed ChanUSEFUL LINKS:Download FREE eBook: The Accountants Recruitment Secrets Playbook GET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE playbook to streamline your practice workflow system:The Accountants Systems Playbook has been written by accountants for accountants with one goal in mind: To give you everything you need to finally take control of the traffic flow running through your practice. Click here to download: https://wizementoring.mykajabi.com/accountants-systems-secretsEpisode 18: How to Create a Perfect Work Schedule for your Accounting Team ┃Wize MentoringIn this episode of The Wize Guys, Brenton Ward with Jamie Johns and Ed Chan discuss workflow scheduling and how to plot work for the next few months. If you just wait for work to come in, you'll tend to become overwhelmed, stress your staff out and frustrate your clients. You have a choice to just sit there and wait for the work to come in or take control of the situation and lead. If you want to become a good leader, it's important to plan out the next 12 months based on the capacity planner of your firm.So, don’t forget to grab a pen and paper for another action-packed episode!Timestamps:0:35 - Understanding the concept of work scheduling2:03 - Why leading is important2:16 - How capacity levels can affect productivity2:41 - How to deal with clients’ work3:45 - The importance of sending out letters4:01 - The 80-20 rule in work scheduling6:07 - How to schedule workflow7:43 - Why you should educate clients8:06 - The importance of managing work schedules based on capacity8:52 - How helpful are the workflow scheduling tools10:06 - Why bookkeeping is more self-driven with deadlines11:42 - How to handle budget and forecast strategies with clients13:04 - Building Capacity vs Advertising15:43 - How to balance on and off marketing18:33 - Tips for encouraging clients to come in20:01 - What you measure is what you can manage20:28 - How to plan out your capacity22:47 - Key takeawaysQuotations:“The 80-20 rule, as long as you get 80% of people following it, then you can manage the last 20%.” - Ed Chan“You should have time… If you turn the engine on and don't let the wind blow the sails.” - Ed Chan“The whole system manages clients' expectations..” - Jamie Johns“The more metrics you can use to manage your business are good, but you don't want paralysis by analysis. So you need to sort of keep it as simple as possible, but you may focus that around the ideal team.” - Jamie Johns“But often marketing is a hit-and-miss thing. And we move clients.” - Ed ChanUSEFUL LINKS:Download FREE ebook: The Accountants Systems PlaybookDownload FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
FREE playbook to streamline your practice workflow system:The Accountants Systems Playbook has been written by accountants for accountants with one goal in mind: To give you everything you need to finally take control of the traffic flow running through your practice. Click here to download: https://wizementoring.mykajabi.com/accountants-systems-secretsEpisode 17: Managing the Production and Communication Traffic in your Accounting Firm | Wize MentoringIn this episode of The Wize Guys, Brenton Ward with Ed Chan discusses how you can overcome the biggest challenges of managing your firm’s traffic flow by looking at how traffic flows in an organization, how it should be moving, and dissecting the types of traffic that go into your firm.Find out more about communication traffic management and some useful tips in responding to emails that you can best apply in your accounting practice or business process.Timestamps:0:51 - How to dissect traffic flow 0:59 - 2 Different types of traffic1:10 - What is the communication traffic?2:11 - How sales process is related to your traffic flow2:14 - Tips for responding to clients’ emails4:11 - The importance of taking ownership and leadership in communication5:19 - How people’s personalities can affect workflow and productivity6:19 - Figuring out the right people for a positionQuotations:“Communication traffic is things like phone calls, emails, meetings, strategy, work, that kind of thing. It's also about getting an email that comes through to you...” - Ed Chan“You've got to take leadership because if you don't take leadership of that conversation, the client will just think that you're happy to just give the time away for free.” - Ed Chan“..you've got to work it so that everybody's in their flow. And the deep and narrow structure is the best way to manage the traffic flow. Because you've got people who are really good at talking to people, managing client's expectations. They're people-people. They're good at communicating with people like them. So they're in their flow. If they're a senior client manager, and then you've got people who are really good production people and, and keep them in their float. And if you, if you have this narrow deep structure, you find that people are a lot more productive. They are a lot happier.” - Ed ChanUSEFUL LINKS:Download FREE ebook: The Accountants Systems Playbook to streamline your practice workflow systemDownload FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
Download a free copy of our book - The Accountants 20-Hour WorkweekIn this free book, we highlight the No.1 strategy that’s had the biggest impact on building our own practice to run without the owners - https://wizementoring.mykajabi.com/20hourworkweekEpisode 16: The Best Plan in Running a Discovery Session for Your Accounting Firms ┃Wize Mentoring Business Tips“I know of no more encouraging fact than the unquestionable ability of man to elevate his life by conscious endeavor.” - Henry David Thoreau In this episode of The Wize Guys, Brenton Ward with Jamie Johns, and Ed Chan share their insights about the need for a discovery session for every accounting practice.As Ed has been through many, if not all, of the challenges you have faced in growing your Accounting business. Typically we get into business to earn more money and have more time and freedom only to find our reality is the exact opposite. We work more hours than we ever have and spend more time away from our family and if we were to divide the money we earn by the time we spend earning it, it's very little and not a good return on investment.To find out how to ensure that you are not a prisoner in your own business, Ed and Jamie will give a thorough outline of how you can start to design or redesign your business to achieve the ROI of your end goals.Timestamps:1:06 What are discovery sessions?2:41 How to determine the pains and challenges in your practice4:02 The power of retirement investments5:55 Why you should start to invest in businesses6:10 Why is it that Warren Buffett invests in a direct business and what his 4 criteria are for investing? 8:37 Comparing the ROI of your business vs the share market vs property investment12:12 How to identify your capital value, passive income, and ROI14:44 Why you should start to build something15:29 The importance of having the right mindset18:09 The journey from self-employed > business > investment18:58 What are the questions to ask in a discovery call22:27 Which is a better business model: partnership vs corporation24:06 Key takeaways on why you should start your own discovery callsQuotations:"Instead of going to work to do a tax return, you are going to work to build a business and an investment" - Ed Chan“..fair to say as part of this discovery session, it's really getting business owners to get into that frame of mind of considering that business and investment, rather than being in the thick of things and taking whatever comes out at the end of the day” - Brenton WardUSEFUL LINKS:Download FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
Download a free copy of our book - The Accountants 20-Hour WorkweekIn this free book, we highlight the No.1 strategy that’s had the biggest impact on building our own practice to run without the owners - https://wizementoring.mykajabi.com/20hourworkweekEpisode 15: Learn how to become a BETTER LEADER┃Three Keys to Leadership for your Accounting PracticeIn this episode of The Wize Guys, Brenton Ward with Jamie Johns, and Ed Chan discuss the three key areas of leadership that accounting business owners should focus on. Because as the leader of your firm, your priorities should be leading yourself, leading the business, and leading others. Find out how you can be a better leader for your team and achieve better results.Timestamps:0:36 The overarching areas of leadership1:08 Why a  firm is a reflection of the owner2:01 Why you should be good at leading others2:05 How being friendly and inspirational helps2:32 How to achieve better results with leadership3:06 The ideal successful firm setup4:14 Understanding that ‘bypass policy’6:16 Simple steps to becoming a better leader6:57 The importance of solutions and outcomes in decision makingQuotations:"..it's often said over the years that a firm is a reflection of the owner..” - Jamie Johns“There any obvious gaps in what you would implement it or the leadership skills that you kind of identified within the business that you had and you've since worked on bridging..” - Brenton Ward“And to be fair, what I think, whether we got a school or university where many of us are taught managerial skills. Are we taught leadership skills or not? I wasn't.” - Jamie Johns“We're talking about leadership as a whole, and now talking about leadership in three different areas, the whole conversation becoming a better leader can be somewhat overwhelming.” - Brenton Ward“One said that don't try and change others to try and change yourself first. That's easier said than done a natural and natural state is that it's everybody else's fault, not mine. And you crack this, everybody else's fault, then you can't change things unless you change yourself first. “- Ed Chan“So if you focus your attention on the solution, you find solutions, but if you look for problems, then you find those as well. And if your excuse, you find those as well.“ - Ed ChanUSEFUL LINKS:Download FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
Download a free copy of our book - The Accountants 20-Hour WorkweekIn this free book, we highlight the No.1 strategy that’s had the biggest impact on building our own practice to run without the owners - https://wizementoring.mykajabi.com/20hourworkweekEpisode 14: How to develop Standard Operating Procedures (SOPs) for Your Accounting PracticeIn this episode of The Wize Guys, Brenton Ward and Jamie Johns talk about the importance of having Standard Operating Procedures (SOPs) in every Accounting Practice.Find out how to ensure an efficient, smooth workflow and systems that will work best. Also, learn the step-by-step guide in creating and starting to implement SOPs yet commonly overlooked processes for practice owners. Timestamps:0:57 Understanding Standard Operating Procedures (SOPs)2:59 The importance of getting the scalability and leverage of SOPs3:11 How accounting SOPs have evolved throughout the years4:15 How SOPs differ from each business model and client9:59 The freedom in creating policies through digital technology11:33 Different online video tools for recording SOPs16:10 Why you should find the balance between your checklist and working papers 17:31 Learning the various umbrellas of SOPs20:13 Tips for determining the SOPs that will work best for your accounting practice24:54 The importance of your own ‘How-to’ section26:31 The beauty and benefits of using Loom videos33:07 Steps in creating instructional videos34:24 Why traditional written instructional videos are already a NO-go36:06 The impact of having 80% ROI with a robust and reliable SOPs39:28 Defining that ‘quad to activity’40:44 Why documenting is an act of leadership43:46 How Microsoft Teams can help in recording instructional videos44:12 The idea of focusing on progress and NOT on perfectionism48:25 Some of the practical accounting solutions to-do52:16 Jamie’s key takeaways for your accounting practiceQuotations:“..there's no task, big or small that doesn't evade sort of having being documented in the practice, which is great.” -  - Brenton Ward“The beauty of videos is you can, fast-forward them, you can rewind them, you can pause them and they are just gold.” - Jamie Johns“It's not about perfectionism, it's about progress.” - Jamie Johns“Step closer to freedom. Like it's every standard operating procedure is one step closer to being free.” - Brenton Ward“This whole process is really about building and having extraordinary systems so that you can have ordinary people.” - Jamie JohnsUSEFUL LINKS:Download FREE eBook: The Accountant's 20-Hour Workweek PlaybookGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: support@wizementoring.comDownload the full transcript here.
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