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Referron : Become a first follower and create a movement!!

This is so relevant to our 10X business!!


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Referron : The Birth of the referral economy

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How to Gain an Unfair Advantage in your Accounting Practice

Our 10X Coaches are looking to partner with a select group of accountants who will be given access to this enormous range of Business Tools that is part of the 10X IP.

Click below to register for are boardroom briefings on how to gain an unfair advantage in your accounting practice 

Sydney –         12pm - 2pm - 9 June  - BSI Meeting Room - 14 Martin Place, Sydney, 2000 

Melbourne -    12pm - 2pm - 24 June  - Como Hotel- South Yarra 

Discussion Paper For Introducing Business Coaching to your Practice

1. Determine why Business Coaching is to be introduced to the practice.

Common Reasons:

• Clients have a need for this type of advice
• Clients are requesting this type of advice
• Clients are moving to other firms/coaches which provide a more holistic approach.
• Delivering this type of advice can be profitable.
• There is a potential to minimise litigation risk for “Failure to Advise”.

Common difficulties:

• Lack of expertise in firm.
• The opportunity cost of providing the service.
• Potential increased litigation risk for “Failure to Advise”.
• Lack of  processes to implement advice efficiently.
• Finding a competent professional business coach to assist in the process.

2. Determine how the service is to be positioned.

To ensure that client’s trust is maintained for the long term benefit of the practice the “intent” of introducing them to Business Coaching needs to be fully disclosed.  Clients need to be advised as to Purpose, Process, and Payoff.

• Purpose:    Why are you introducing them to Business Coaching?
• Process:     How will the introduction work and what will happen?
• Payoff:    How will the client benefit from this service and who else benefits from its provision?  (It is important that the win/win is fully disclosed).

Remember the three “I’s”.  Today’s clients want to be kept:

• Informed
• Involved and
• In Control

3. Determine the structure under which advice is to be given.

It is often a good idea to start with an “Outsourced” arrangement.  This option is the least formal structure and has a number of benefits including:

1. Expertise is immediately available.
2. Limited training of existing staff is required
3. Low cost – PI usually covered, office space often not needed etc.
4. Low Risk – the arrangement can be terminated if it is not working
5. More than one person may be required to meet the needs of different types of clients.
6. Multiple services can be introduced quickly
7. It is a lot easier to unwind a Strategic Alliance than a Joint Venture or Partnership.
8. The Outsourced Professional may act as a mentor for a trainee should you decide to develop Business Coaching as a division of your business.

It is sometimes helpful to remember that value is usually in profitability not so much turnover.

Options

3.1     Strategic Alliance

Here the Business Coach operates independently carrying their own card, giving advice under their own letterhead etc.  The Business Coach clearly indicates to the client that all advice given is to be treated as coming from the Coach.  While the Coach may consult with the referrer, responsibility for the advice is the Coach’s alone.

If the Coach remunerates the referrer for any work needed as a consequence of the referral the Coach needs to indicate to the client that this has or will happen.

The main advantage of this strategy is that it requires minimal capital, and structure, and yet enables high overall recovery rates for the referrer.

The prime disadvantage is that capital growth is limited.


3.2     Joint Venture

As the name indicates advice given under this scenario is shared advice.  It is critical that the client is fully advised as to who is responsible for each aspect of the advice.

The major advantage is the joint venture can lock in valuable skills and offer the opportunity of participating in capital growth.

The disadvantage is the costs of unwinding in the event of breakdown.  Capital can be required to pay out disaffected partners.


3.3    A Division of the Practice.

This option can (but doesn’t have to) be the outgrowth of a long-term successful Strategic Alliance or Joint Venture.

The prime advantage of this option is that it can add significant value to the referring practice.

However the major disadvantage is that the division adds another level of complexity and a different skill base is required than is usually found in the core of the practice.

The other disadvantage is being able to recruit the “right qualifications”.  Like other professions, the Business Coaching Sector is suffering the effects of an aging workforce and most competent advisers are either well established within either their own businesses or some other opportunity.

A strategy to deal with this issue is to form a Strategic Alliance with an established professional then to hire a “trainee” who can be mentored by the outsourced professional until an adequate level of competency has been attained.

4.  Determine how the referral process is to be performed.

The most important issue here is that the referrer is kept fully appraised of the circumstances relating to the client.

Permission needs to be sought from the client for the Coach to disclose to the referrer personal details.  (This usually occurs but still must be confirmed – Check your Privacy Statement).  In most cases the client will return to the referrer to seek confirmation and reassurance that the advice that has been given is appropriate.

It is important to maintain “file notes” as to activities by both the referrer and the Coach.  Remember the four levels of compliance:

1.Regulatory
2..Litigation
3.Customer Satisfaction
4.Practice Profitability


Web based CRM systems like Infusionsoft and Referron could help to track measure and follow up referrals made..

Consideration needs to be given as to how time spent in dealing with and for the client will be recovered.


5. Examine and map the client base.

It is important to identify what types of Business Coaching particular clients and particular client groups need and want.  Remember the four rules of business:

    5.1  Choose the client whom you will serve
    5.2  Put their needs first
    5.3  Put your (the Practices) needs second.
    5.4  Do it in a win/win way


6. Establish your initial communication strategy.

It is common when introducing Business Coaching to choose “friendly clients” first.

This is understandable and probably a good idea.  However, this methodology can increase exposure to litigation through the “selection against” problem.  To avoid this issue it is advisable to write/contact all clients and offer to provide services.

A general introductory letter/communication should go to all clients with clearly identifiable needs inviting them to contact you or to come to an event.

Remember the “Bell-Curve”.  Most people need an issue raised between four and seven times in four to seven ways before they are ready to take action

Copies of these communications should be retained as evidence that the practice has operated in “utmost good faith” to protect the needs of its clients.


7.  Establish ongoing methodology

Once the generalized communications have been completed decide how Business Coaching will be revisited with clients in an appropriate way.  It is important that the methodology chosen does not leave clients with the impression that all you are trying to do is to “Sell” them another product or service.  Remember to remind clients of your intent and desire to better serve them.

The 10X Edge Event could be helpful in positioning Business Coaching as a methodology to demonstrate that you are committed to helping  them solve problems rather than to sell them things.


8.  Establish procedures for new clients:

Look at all promotional material and processes to ensure that the intent/purpose of the practice is taught to any new clients.  It important that new clients also don’t suffer from the “selection against” problem

7 Steps to Magic Marketing

Take the mystery out of your marketing and increase your leads, then sales and profits … dramatically.

For most business owners, at best, marketing is a mystery and at worst an annoying line in their Profit & Loss that never seems quite justified.

But marketing is much more than any of that … In fact, marketing is YOUR ANSWER to:

● increasing the number of leads coming into your business

● increasing the quality of the leads coming into your business

● increasing your sales and your gross revenue per annum

● growing your profits, the dollars into your own back pocket for you and your family

● improving and differentiating your brand so your prospects come banging on your door verses one of your competitors.

This list could go on and on. Marketing is literally the ‘be all and end all’ to how to build and develop the strongest, most profitable, most enjoyable business possible for anyone committed to success.

… But there’s an IF …

Marketing is all this, IF and only if you ‘know how’.

In fact, without that ‘know how’ – you may have already blown good money after bad wasting time and effort on hiring marketing “consultants” or “business development people”, who failed to produce any of these results.

In the last 5 or so years as I’ve worked with business owners, I’ve seen one thing over and over again.

You’re typically great at what your business does …

Not so great at marketing.

As such, you are missing opportunities left and right for leads, sales and increased revenue, and profits, even quality of life!

If you’re like most business owners, that’s only because you’ve simply never been taught that all-important marketing ‘know how’.

That’s why we’ve decided to change all that over a 2 hour, solid, “how to”, information packed Workshop – a Workshop that finally gives you and your team that all important knowledge that unlocks the keys to winning marketing. Tickets are valued at $189.00, yours complimentary if you are the owner of a business with 5 + staff, generating over $500K pa in gross revenue.

Benefit from the “7 Steps to Magic Marketing!” Workshop’ …

You’re invited to benefit from your own ‘7 Steps to Magic Marketing Workshop’. At this event, held on site at your business as a private, highly personalized, VIP session you will discover the how to’s of marketing once and for all.

Please be thoroughly clear: this is not a “chat fest” this is a WORK-SHOP - you and any staff who attend will be working on - by that I mean actually brainstorming and creating various branding, strategy and marketing materials over our time together - as well as learning new insights into key marketing concepts and other ‘how to’s’.

7 Steps to Magic Marketing Workshop - The Keys to Your Growth

During this Workshop we’ll work through many topics, here’s just a few that will translate to much better marketing results:

● The 4 X-factors of healthy growth
● The ‘Growth Equation’ – why your numbers are key, including the statistics critical to planning your success before you market
● The small business advantage & the small business dilemma – plus, what to do about it!
● What’s your marketing mindset? And, why that matters.
● Your marketing attraction strategy
● THE 7 steps to magic marketing
● 3 Key marketing outcomes
● The Top 7 marketing mistakes
● Understanding a customer’s buying formula
● Critical touch points
● What’s your USP?
THE Marketing MUST
● Communication Leverage – get more results from less!
● Your ‘MAP’: Marketing Activity Plan - activity is the KEY!

Consider the power of you learning this ‘know how’ for yourself…

Don’t worry - you don’t need to be the “creative type”.

For a lot of business owners, marketing seems so foreign because it’s outside their normal scope. Not to worry, you don’t need to be the creative type to benefit from this unique Workshop (in fact, we’ve done a lot of that work for you so you can move quickly and easily to implement these ideas and benefit.)

Remember too: just as you’ve spent years honing your skills at what you do, we’ve done the same in helping people unlock the keys to how to grow their businesses, just as we’ll do during this Workshop with you.

You’ll need to act quickly.

We’ve condensed what’s required to improve your marketing dramatically into just a 2 hour Lunch and Learn. You will have all the answers you need to years of successful marketing and most importantly – business growth in leads, sales and profits. Available bookings are limited – please do act quickly by clicking on the link to book.

Thanks in advance and we look forward hopefully to working more closely with you shortly to grow your leads, your sales and your business.!

Warm regards,

Ivan Ang
10X Business Coach

The Edge: Gaining the Unfair Advantage & Increased Profits

Ever wondered why some businesses flourish – in fact, it seems they can do no wrong – and yet others struggle?  Consider the answer is:

“The Edge”.  And here’s your chance to bring that edge to your business and your profits immediately…

Join us  for this hard hitting 3 hour event titled: “The Edge: Gaining the Unfair Advantage & Increased Profits”, you will learn specific tools that will empower you to achieve the things you’re dreaming of for in 2015, so that you are 100% set for success.

  

The event will be presented by Terry Kew, a successful entrepreneur in his own right and has been helping others grow their businesses for the last 20 Years.  Better yet, he is an expert in profit improvement with an impressive track record.

Terry will take you through some of the best kept secrets of success that they have acquired by studying and working with elite individuals and businesses around the world.

But be warned! This event is NOT for people who want to sit passively and wait for success to come to them – that’s why we are putting this special invitation out to you and your colleagues. 

Here’s some of what you’ll discover …

‘The Edge: Gaining the Unfair Advantage & Increased Profits’.

As you drive home in your car after this event you will clearly understand:

• How to thrive not just survive in your business
• How to create lasting change
• How to massively grow your clients and keep them for life
• How to create raving fans for your business
• The focus of all great business systems
• What nurturing has to do with marketing excellence
• How to build trust with clients and potential clients
•  How to use communication leverage to do more with less
• How to gain a competitive advantage

 And you will have identified …

• How to wake up the leader inside you
• 3 tools used by the super succesful to achieve more in less time
• A specific Action Plan for you to move forward faster
• The keys to dramatically enhancing your life and workstyle
• The 7 characteristics you can apply to have more time and money

The event runs from 5:30pm – 8:30pm  at the Referron Meeting Room,  and you will receive a comprehensive workbook and refreshments at the event.

My recommendation?  Do not miss out, we only have a few seats left.

Click here to book: -
Sydney
Melbourne
Brisbane