Transcript Explore the Power and Art of Client Service

Explore the Power
and Art of Client
Service
Team GB’s cyclists won
7 out of 10
Olympic Gold Medals
“Our success is down to the
aggregation of marginal gains”
Dave Brailsford
Team GB
PerformanceDirector
SPOKEN
160
SPOKEN
160
AVAILABLE
440
REMEMBERED
7%
REMEMBERED
7%
NOT SAID
8%
Jim Collins – Good to Great and Built to Last
Profitability is a necessary condition for existence
and a means to more important ends, but it is
not the end in itself for many of the visionary
companies. Profit is like oxygen, food, water and
blood for the body; they are not the point of life,
but without them there is no life.
What is the purpose (point) of the business?
Time management and firm commitment (8)
1,200 Chargeable
360 Visible
2,400 Total
250 Marketing
How do you invest your time?
• Seven habits of highly effective people
• E-myth and the E-myth revisited
• Good to great
• The essential Drucker
• The trusted advisor
• The ultimate advisor
• The tipping point
• Defining edge
• Up your gross profit margin
Download my recommended reading list:
marklloydbottom.com/events
Expertise, expertise, expertise
High impact professional relationships are
predicated (founded) on the unknown – there
is greater value in the unknown than that
which is known
Who is your best client?
The answer is...
Your Firm
If you aim to profit
then learn to please
Winston Churchill
What are we selling?
T__________
E__________
S__________ to P__________
What are we selling?
Time
E__________
S__________ to P__________
What are we selling?
Time
Expertise
S__________ to __________
What are we selling?
Time
Expertise
Solutions to Problems
Learn the lesson from the dentist’s reception (2)
Iceberg
of time (5)
Visible 10-15%
Advice
Invisible 85-90%
Compliance
Visible 10-15%
Advice
Value 80%
Value 20%
Invisible 85-90%
Compliance
The accountant
95%
Historical
Rear view mirror(7)
5%
Present
& future
The accountant
95%
Historical
5%
Present
& future
The client
95%
Present & future
Rear view mirror
5%
Historical
• How long do you spend with your clients?
How long do you
Spend with clients?(4)
How long do you spend in a year with your clients?

Less than 30 minutes

31-60 minutes

61-90 minutes

91-120 minutes

More than 2 hours
Meeting your
A clients
Meeting your
B clients
Meeting your
C clients
Meeting your
New clients
Meeting clients (4-5)
A clients
B clients
C clients
New clients
2 compliance
1-2 non-compliance
After the year end and
maybe half before the
year end
Maybe half of them you
will meet once?
Two initial and one pre
year end
An annual meeting audit (5)
A clients (15)
B clients (150)
C clients (30)
New clients (15)
60
225
15
45
Annual / monthly meetings
345 / 29
1-5: Your extension services
D: Service already delivered
X: Service not appropriate
?
What existing
services do you have
that clients need? (2)
Butclients
clients won’t
pay pay”
“But
won’t
• The law of fee flexibility (Fl-image –
law/something flexible?
The law of
fee flexibility
(7)
Client meetings (11-13)
Meeting agenda : 7 December 2012
1
What are your greatest challenges?
2
How do you feel about the business?
3
What does your profit forecast look like for the next
year?
4
What feedback have you had from customers /
clients?
5
How do you plan to develop the business?
6-14
... What can we do to assist?
15
“do you know anyone that you could introduce” or
could you give me the names of anyone that you think
would make a good client of the firm
Use a meeting
agenda and
gain permission
to advise.
Respect!
Learn some great questions/lines (15)
 What is your greatest challenge?
 What do you plan to do differently
in the future?
 What are your goals?
 How have you tried to increase your
margins?
 What customer feedbackhaveyou had?
 What does your profit forecast look
like for the next 12 months?
Eight client care strategies
1. Spend time getting to know clients, their
business and industry
2. Make sure they know they are paying the least
tax possible
3. Share profit improvement ideas
4. Return their calls and emails promptly
5. Avoid time bombs
6. Keep in contact
7. Send them something of value – a referral even
8. Benchmark
Your report card – raising the bar (Session 3-1)
1.Timeliness
2.Reliability
3.Competence
4.Communication
5.Assurance
6.Tangibles...
CCCC
Q: What paper do you
print your draft accounts
on?
TIP: Use this year’s
accounts as a basis for
next year’s forecast
TIP: Add in pie charts,
bar charts and
histograms
Your report card – raising the bar
1.Timeliness
2.Reliability
3.Competence
4.Communication
5.Assurance
6.Tangibles
7.Responsiveness
8.Empathy
Projecting a high quality image (17-23)
Perception principles
Your image – you and the firm
 Your appearance
 Your firm
 Your people
 Your office
 Your ambassadors
Ritz-Carlton
Gold Standards
The Credo
The Ritz-Carlton Hotel is a place where the genuine care
and comfort of our guests is our highest mission.
We pledge to provide the finest personal service and
facilities for our guests who will always enjoy
a warm, relaxed, yet refined ambience.
The Ritz-Carlton experience enlivens the
senses, instills well-being, and fulfills
even the unexpressed wishes
and needs of our guests.
Motto
At The Ritz-Carlton Hotel Company…
"We are Ladies and Gentlemen
serving Ladies and
Gentlemen."
This motto exemplifies the
anticipatory service provided
by all staff members
The Ritz Carlton Three Steps Of Service
1. A warm and sincere greeting.
Use the guest's name
2. Anticipation and fulfillment
of each guest's needs
3. Fond farewell. Give a warm
good-bye and use the
guest's name
Service Values:
I Am Proud To Be Ritz-Carlton
•
I build strong relationships and create Ritz-Carlton
guests for life.
•
I am always responsive to the expressed and
unexpressed wishes and needs of our guests.
•
I am empowered to create unique, memorable and
personal experiences for our guests.
•
I understand my role in achieving the Key Success
Factors, embracing Community Footprints and
creating The Ritz-Carlton Mystique.
•
I continuously seek opportunities to innovate and
improve The Ritz-Carlton experience.
•
I own and immediately resolve guest problems.
Service Values:
I Am Proud To Be Ritz-Carlton
•
I create a work environment of teamwork and lateral
service so that the needs of our guests and each other
are met.
•
•
I have the opportunity to continuously learn and grow.
•
I am proud of my professional appearance, language
and behaviour.
•
I protect the privacy and security of our guests, my
fellow employees and the company's confidential
information and assets.
•
I am responsible for uncompromising levels of
cleanliness and creating a safe and accident-free
environment.
I am involved in the planning of the work that affects
me.
Legal Sea Foods
We Pledge:
 To inspect and prepare the freshest, highest quality





fish and shellfish
To take a leadership role in the cause of sustainable
fishing
To assure you of a clean and comfortable environment
To provide prompt friendly and courteous service by a
knowledgeable and highly trained staff
To feature a wine list that represents the
best overall value in America
To provide you with an experience
that will encourage you to return
Your client service rating
How do you rate yourself?
How do your team rate the firm?
How do your referrals rate you?
How do your clients rate you?
How does your community rate you?
How to find out
Ask
Survey – options
Institutionalise your feedback:
When you send/deliver financial statements
When you send/deliver 1040s
When clients visit your office
Power up Your Gross Margin
How to stretch those chargeable hours
The danger of the law of anchoring
How to stop time sheet mis or under
recording
The action you can take today to stop
recovering less than 85%
Stop being a charity and donating your time
The catch in risk reversal and how to avoid it
Why your top line isn’t and what it should be 12 powerful lessons from my client casebook
Smart billing practices that work
The lesson from the gold tray
Three profit improving budgeting lessons
Value billing
Play the ‘profit robber game and increase
profits
The power of visible
time
How to stop accountancy fees being the last
to be paid
And much
more...
The law of fee flexibility
Getting paid IN your clients accounting year
Increase recovery immediately!
Defining Edge : Practice Management Strategies
See how to improve firm profits through our
LUBRM financial model
Focus on working with clients and not on
them
Maximise your potential as your clients
number one advisor
How to bill what you are worth and collect
what you bill
Delivering real future focused value
Reduce your write downs
Upgrade client loyalty and watch your clients
become winning advocates
How those billing myths are robbing you of
profits
Increase your net fees per client
Discussing prices with your clients
How to improve your client meetings and get
paid for all that “free” advice
Powerful personal marketing strategies
How to better build your personal brand
Reduce your lock up
Delivering high performance and higher
bottom line results
Power Up Your
Defining Edge: £144 Gross Margin: £60
Order Both Defining Edge and
Power Up Your Gross Margin
for
£144
($235)
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marklloydbottom.com/shop
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Thank you for
Exploring the Power
and Art of Client
Service Today
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