The Issues

The Principal wanted a sea change and as such planned to sell her Firm.

To maximise value of the accounting firm, she needed to modernise & streamline the firms processes and operations.

She wanted the Firm to be sold within 12 months.

The Approach

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

We ranked the projects and focussed on 8 key areas to get the firm ready for sale:

1. Cultural Fit
2. Database
3. Branding
4. Team
5. Financials
6. Information Technology
7. Transition Plans
8. Joint Venture Relationships

The Principal decided to engage the YBF General Management service (GM) once a fortnight and the monthly Board Meeting to achieve her objectives

The Result

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

• Increased the turnover of the business.
• Reduced turnaround time of jobs.
• Implemented structured team meetings and workflow meetings.
• Kept team engaged & up to date.
• Converted the firm to cloud software and provided training.
• Streamlined workflow process.
• Added additional services as part of compliance offerings.
• Implemented fixed fee for a number of clients.
• Focussed on reducing costs.
• Led due diligence to establish a JV with a financial planning firm.
• Placed more accountability on to the team.
• Firm sold for a higher than expected amount!!