The Issues

The Principal had grown the business to a point where he was losing control of the day to day functions.

The Firm needed a Practice Manager (PM) to champion the change needed to free up the Team’s time to work more with the clients and improve client relationships.

With increasing workflow, team members were not following current procedures which resulted in countless hours of rework.

Both the Principal & the Manager were working back to keep up with the workflow.

The Principal also wanted to implement a Financial Planning division as part of the service offering and increasing the firm’s revenue stream

The Approach

Your Business First (YBF) facilitated a Planning Day with the Principal and key team members to identify key projects & to implement best practice.

We ranked the projects by priority with time frames & measurabilities.

The Principal decided it was critical for the growth and sustainability of the firm to engage the YBF Practice Management service (PM) once a fortnight onsite and the monthly Board Meeting to achieve his objectives.

The Result

The PM managed these projects whilst freeing up the team to focus transitioning to the new software. The PM:

• Increased the Firm’s turnover to over a $1 million
• Reduced turnaround times for jobs.
• Reduced lock up by 33 days.
• Implemented & chaired Partner meetings to help with accountability & momentum.
• Implemented workflow meetings.
• Implemented policies, templates, scripts and checklists and rolled out to the team.
• Implemented a workflow process prioritising A & B Clients.
• Led due diligence to establish a JV with a financial planning firm.
• Implemented Individual KPIs & priorities.
• Managed the process of introducing clients to Accountants as a point of call to free up Principal.