Advisory

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[x_button shape=”square” size=”regular” float=”middle” href=”http://buildabetterbusiness.com.au/mentor-training/” title=”” info=”popover” info_place=”top” info_trigger=”hover” info_content=”Mentors Access Only”]Member Firms Access to Accountants Knowledge Centre[/x_button]

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The purpose of this site is to help business owners grow profit. Accounting firms choosing to help clients implement the strategies we are teaching will grow their fee base (see video below) as well as attract and retain talent.

Accountants looking to advance their careers will benefit from both the specialist training delivered via the Knowledge Centre and the ability to build their own fee base through the deployment of targetted digital marketing strategies.

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Simplify the Complex   [x_icon type=”dashboard”]

Work with tools designed to simplify the complex and encourage client action.

As accountants, we are good at recording and analysing, but sometimes our reports are so filled with data they are a turnoff to business owners, particularly those not comfortable around numbers. 

Download pdf file - Sample of Tools and Systems

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Clients Will Pay More Fees   [x_icon type=”dollar”]

Business owners have free access to the courses on this site. From the outset, they are encouraged to work more closely with their accountant which will result in higher fees. This video explains why they will be happy to incur this expenditure.

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T150k from Philip Arnfield on Vimeo.

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I invested in HubSpot so you don’t have to.

There is a new world order offering the potential for business owners to win as much work as they want. But it takes a bit of getting your head around…

  • Content marketing
  • Marketing automation
  • Blogging
  • Social Media Footprint
  • Web analytics
  • SEO
  • Facebook advertising
  • Google AdWords 

My investment in the HubSpot platform provides you with the powerful outcomes afforded by digital marketing and marketing automation, without the effort. All you need to do is work with clients.

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Member firms obtain a clear point of difference. It allows you to submit proposals to prospective clients outlining a capability to:

  • Deliver profit improvement strategies.
  • Address cashflow concerns.
  • Offer tools and resources to assist business growth and operational effectiveness.
  • Grow profits in difficult economic conditions.
  • Predict unfavourable profit outcomes and offer solutions (you will use Contribution Based Activity theory to deliver on this promise).
  • Work with the client to overcome their key frustrations with the business.
  • Develop performance standards for team members, and customer created reporting systems to monitor adherence to the standards.
  • Assist with the development and execution of a sales and marketing plan with the aim of delivering a constant stream of quality, profitable work/sales.
  • Introduce and adapt proven pricing strategies developed by successful corporations throughout the world.
  • Assess and monitor the health of the business across 9 key areas.
  • Develop higher levels of accountability – accountability drives results.
  • Establish and oversee a Management Control Plan so as success is not left to chance.

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Winning New Clients   [x_icon type=”check-square-o”]  

It is easy for member firms to win new clients because of their service offering points of difference and the digital marketing capability they are able to access.

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Comprehensive Training   [x_icon type=”video-camera”]

The Accountants training available to members is designed to help you work with clients to grow the profitability of their business. 

The path to substantial and sustained profit improvement is to first focus on increasing the profit generated from existing sales volume and then look to grow revenue. This is contrary to what most business owners attempt, which is to grow profit through building sales. All this does is to magnify problems already inherent in the business, and consume scarce resources, particularly cash flow.

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The majority of training is designed to help business owners move the fulcrum to the right so they can earn more profit without the need to contribute more resources.

You can achieve this outcome when you understand Contribution Based Activity theory (CBA) and Pricing Strategy (which involves far more than simply increasing price).

Throughout my 32 years in practice I used CBA to demonstrate to clients:

  • Areas where operational ineffectiveness was destroying profitability.
  • Which customers, products, and services were profitable and those that were not, quite often to the complete astonishment of the client.
  • How to set targets for improved profitability.
  • How to establish systems to monitor progress against these targets, weekly.

I was introduced to CBA as a young accountant by my employer of the time, Dennis Sims who taught me if you want to have an impact, help clients grow the profitability of their business. The theory was developed by Professor Keith Cleland at the University of New England. Dennis adapted the theory over the years as he gained experience working with a wide variety of clients, as I have done in the 32 years since.

In brief, CBA relies on tracing the gross profit generated by the major profit driver in a business. This article written by professor Keith Cleland provides more of an insight.

My curriculum covers CBA in considerable detail, presenting many case studies across a variety of industries. Pricing Strategy is also a fundamental element of the profit building process, the curriculum then builds upon this base to cover a variety of business development and profit improvement strategies.

  • Contribution Based Activity
    • Understanding Profit Drivers
    • Segmentation: Some Customers are More profitable than Others, as are Some Products & Services
    • Nurturing the Profitable Contributors, and Fixing the Problems
    • Quickly Determining the Effectiveness of Past Trading
    • Establishing Targets for Increases Profitability
    • Assessing Client Forward Planning
    • Establishing Weekly Reporting Systems
  • Pricing for Profit
    • Exploring the Direct Relationship Between Price & profit
    • Understanding the Psychology of Customer Buying Behaviour: B2B and B2C 
    • Creating the Circumstances Whereby Customers Volunteer to Pay More
    • Price is Only An Issue When All Other Things Are Equal
    • Understanding Why Customers Ask “How much” and How to Respond
    • Establishing the Extent of Customer Price Sensitivity
    • Why Discounting Will Destroy Profitability
    • Competing Successfully Against Price Discounters
    • How to Exploit Comparison Pricing to Boost Profit
    • Adaptive Capacity Pricing
    • Lessons From Pricing Experts
  • Management Control Plan Process – Accountability Drives Results
  • Sales & Marketing Basics, including detailed manual outlining methods to:
    • Increasing Customer Numbers
    • Increasing the Average Value of Each Transaction
    • Increasing the Number of Times Customers Transact With the Business
    • How to Build a Sales Plan
  • Sales Masterclass
  • Digital Marketing Basics – What Clients Need to Know and How to Implement Strategies – In House
  • Essential Elements of the Business Plan 
  • How to Conduct a Half Day Client Strategic Planning Meeting
  • The Only Two Strategic Options for SMEs Operating in Fragmented Industries 
  • Understanding the Business Life Cycle, Scarce resources, and Family Relationships! 
  • Customer Service Systems
  • Performance Standards – What Gets Measured Gets Managed
  • Understanding Hourly Rates, Costs, and Profit (Using the hourly rate calculator.)
  • Financial Analysis
    • Financial Analysis – Basics
    • Financial Analysis – Advanced
    • Writing Meaningful Management Reports
    • How Budgets Build Profits
    • Budgets that Clients Understand, and Can Prepare
    • Understanding the Cash Cycle & Being Able to Explain It to Clients
  • Helping Clients Select the Right Key Performance Indicators
  • People Development
  • Delegation and Priorities
  • Customer Advisory Boards
  • Team Advisory Boards
  • Action Plans and Effective Meetings
  • Working With the Silent Partners – A Massive Opportunity for Change & Growth
  • Understanding Insecurity 
  • Written Reports – Essential Design Elements
  • Understanding How Adults Learn – We need to change a few things surrounding the way we advise

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Training Testimonials  [x_icon type=”smile-o”]

I have been working with seven accounting firms since July 2016 and the training has received high acclaim. The comments below are from feedback forms. Names are withheld for privacy,  however, I am able to put you in touch with partners and team members of participating firms if you require training references. Contact me through the message icon below, or if I am offline click this link to access my calendar and arrange a time to catch up on a video call.

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“I have  found the training sessions to be excellent and very insightful. It is great to be working at a firm that values this sort of training as I think most accounting firms do not do anything like this, certainly not from my previous experience.”

Loved this training session. The debrief after was a great avenue to get everyone participating and exposed some areas that we might need more basic training on. Great work Phil!

“Hi Phil, This session today was probably the most useful session so far. I felt it put everything into a logical structure, and pulled together what we have covered previously. Today’s session provided an easy and non threatening approach to speak to our clients. Concepts for me are really starting to fall into place. Thank you, and have a good weekend,”

“Great session today, really enjoying these and will have a look at the YouTube this evening or over the weekend.
One quick query, the Speeding in a Slow Down on Tuesday 30 August, is that free, or do the clients pay for that, and
how do they access it, will it be a case of sending them a link like we receive for our fortnightly sessions?
I definitely have one client, corporate travel agency, who I would be keen to have them listen in, and another client
in mining who would benefit as well. Thanks Phil, have a great weekend,”

“Hey Phil,
Just to say thanks for the training as its been great.”

“Thanks Phil. Informative and comprehensive. Numerous take away’s. Also, simple structures for implementing.”

“Great new format”

“Thanks Philip, I will definitely download the templates. FYI – was speaking to xxxxxxx (client name redacted) who’s  having cashflow issues,  I suggested he come in and we look at doing a cashflow and a budget module together”

“Will ask staff to review the video again on Tuesday. Am putting together an introductory checklist for reference. We need to allocate a certain amount of time per job to do the assessment. We broke the video into 2 parts of 10 minutes each. We had a discussion after each and passed our notes made around the group for review. The video has a lot of specific process information in it and is a very good template going forward.”

This note was from a team member that moved on to another firm: “Yeah these things happen sad thing is, I see what you are doing with this training is incredibly amazing and so beneficial for businesses in general and clients, that I will miss the training sessions & discussions that you present and provide.”

And from another team member moving on (different firm) “…you have been a very inspiring person to learn from and have a lot to offer others.”

“…look forward to the notes for our April sessions, I have now bought ‘Thinking Fast and Slow’ by Daniel Kahneman
(discussed by you and xxxxx) and am noticing pricing strategies everywhere I go.”

“Thank you for all your time and energy on Tuesday and Wednesday the sessions were a great launch to get some
momentum in the advisory area.”

“Thank you for a very exciting, challenging and informative session.  XXXX and I are both buzzing from all
the ideas! You will be glad to hear we have just removed our rates from our website 🙂
We look forward to working with you to grow our business.”

“Thank you! you are a superstar! this is greatly Appreciated.

HI xxxx and xxxx
“Phil’s online talk was very fantastic. Phil mentioned that he would be doing another online seminar for those who missed the April lecture. I would be interested to hear that as well.

Phil is a very good communicator.
The two take home points for me were the impact that price reduction has on your bottom line as a
function of your profit margin and requirement for significant increased volume and associated attendant
costs of increasing that volume and the second point was the importance of communicating to your clients
exactly what extra service you are providing which your competitors aren’t providing and not taking for
granted that they will work that out for themselves.”

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