Development of The Arc of Greatness

Earlier this year I was the event coordinator for an extraordinary business seminar that took place on September 17, 2007, in Santa Barbara.

Legendary business documentary film maker, Sam Tyler, gave the presentation combining clips from 20 years of film making with what he’s learned along the way.

Sam’s first film was based on Tom Peter’s In Search of Excellence. His most recent completed film, Good to Great based on the book by Jim Collins, began airing on public television in January 2007.

At this point in his career, Sam has decided to move out from behind the camera. His thought was that he would present his Good to Great film to the management team or entire team of a single company and follow the filming with a group discussion on how that company could apply the Good to Great concepts to their company.

Then I came along with another idea – that businesses shouldn’t limit their potential for greatness because of their size. Or as Jim Collins so aptly put it, “Big does not equal great, and great does not equal big.”

When I sat down with Sam to discuss the possibility of having him do his Good to Great presentation for a group of small business owners and their service providers, I indicated that the emphasis of the event was going to be “Who’s on Your Bus?”.

First Who…Then What
That is the title of Chapter 3 of Good to Great. The main point of this chapter is not just about assembling the right team—that’s nothing new. The main point is to first get the right people on the bus (and the wrong people off the bus) before you figure out where to drive it. The second key point is the degree of sheer rigor needed with regard to people decisions in order to take a company from good to great.

The problem for small businesses is that when they look at their bus, there are still many empty seats. In order to fill all the seats, a small business must expand its concept of “The Bus” to include not just their Team but also their professional advisors and service providers.

The second request I made of Sam is that when he discussed the concepts after showing the movie that he frame the discussion and commentary towards small business. As we discussed this approach, Sam’s eyes started to light up. He realized that some of his previous work would do a better job of explaining Good to Great to small businesses. He suggested that rather than watch Good to Great in its entirety, he could discuss a concept and follow it up with a small business film clip.

Our event was a “Great” success. Sam could see that this format was perfect for a mixed group audience of business owners, CPAs, attorneys, bankers, and the like. He also noticed that this type of event was put together only through the hard work of volunteers.

So Sam has developed a new program called The Arc of Greatness.

The Arc of Greatness is a turn key event solution that local business communities can use to bring together small businesses and professional service providers to be inspired and motivated to work together to create truly GREAT businesses.

The turn key portion will provide the event organizers with tools, templates, suggestions, hand outs, follow up material, and on going support to streamline the event planning process.

The presentation itself covers the management revolution that started with Tom Peters’ In Search of Excellence and concludes with Jim Collins’ Good to Great. The presentation is a combination of film clips, case studies, discussions, and Sam’s personal insights. All-in-all, the presentation is like having Tom Peters, Stephen Covey, Walt Disney, Jack Stack and Jim Collins in the room at the same time.

In addition to being an event that can enhance your business community, it can be organized to serve as a fund raiser.

For more information on The Arc of Greatness, please contact:
Brenda Richter, CPA
Brenda@BrendaRichterCPA.com

For more information on Sam Tyler, visit: http://tylertalks.com/

CPA & Attorney Leadership Skills

How well does your CPA/attorney tend to and nurture his/her own business?

The care and attention your CPA/attorney gives to his/her own business is a direct reflection of the care and attention that your CPA/attorney is willing and able to give to your business.

The next time you are visiting your CPA/attorney, take a look around. Look for positive signs that your CPA/attorney is giving attention to on-going and future operations of his/her business. Such signs include:

Office environment and décor – Does your CPA/attorney maintain a neat and tidy work environment? Is the décor kept fresh and well maintained?

Technology - Is your CPA/attorney aware of the latest technology available to increase efficiency in business? Does your CPA/attorney have a technology plan for his/her business? Has your CPA/attorney implemented paperless technology? Has your CPA/attorney established a Virtual Office, in order to make working with him/her easier?

Continuing Education – What is your CPA’s/attorney’s attitude toward continuing education? Does he/she take the minimum required hours each year, and limit his/her choices to tax and accounting? Or, does his/her annual CPE/MCLE hours far exceed the minimum requirement and include management, technology, leadership, and personal development classes?

Corporate Culture – Does your CPA/attorney and his/her Team keep a professional appearance and dress style? Does your CPA/attorney and his/her Team appear to enjoy their work, the company they work for, and the customers they work with? Does your CPA/attorney have a vision and mission statement? Are these statements reflected in everything your CPA/attorney does?

Leadership – Does your CPA/attorney have a succession plan? Does your CPA/attorney develop leadership skills among Team members? Is work properly delegated among Team members?

With this last concept in mind, the VeraSage Institute has created The CPE/CLE of the Century conference. The conference is designed for CPAs, attorneys and their team members. It is being touted as THE event young professionals have been crying out for. Current and future leaders of the CPA profession will be asked to challenge their thinking and experience professional growth at the conference. Speakers will be sharing their experiences in creating a new type of CPA firm and a new type of law firm – Firms of the Future.

Forward thinking CPA and law firms with an eye towards enhancing their business and developing a strong successful firm for the future will be attending this conference as well as sending their young professionals. Is your CPA/attorney attending this conference as well as sending his/her young Team members to the conference?

To learn more about The CPE/CLE of the Century conference, visit: The VeraSage Institute

Another way to think about it…

Earlier this year, Mega Millions reached an all time high of over $390 million. The winning couple from New Jersey were quoted as saying: “We are retired, effective immediately.”

If your CPA were to retire, effectively immediately, would you be left in good hands?

And on the flip side, what has your CPA done for you to ensure that if you were to retire effective immediately, would your customers be left in good hands?

Register Today

GOOD TO GREAT FOR PROFESSIONALS & SMALL BUSINESS

“Greatness is not a function of circumstance. Greatness, it turns
out, is largely a matter of conscious choice, and discipline."

Jim Collins author of Good to Great

The Santa Barbara Women’s CPA Lunch Group and The CPA♦Law Society of Santa Barbara county are co-hosting a premier event for the small businesses and professionals in our community on September 17, 2007.
Based on the book Good to Great by Jim Collins, the event will feature a presentation by documentary film maker Sam Tyler that includes case studies, film clips and his personal insight.

For more information and a registration form, contact: Brenda@BrendaRichterCPA.com
Or, visit: www.sbwcpalg.com

Please forward this information to anyone you
think might be interested.

SAVE THE DATE

The Santa Barbara Women's CPA Lunch Group and The CPA/Law Society of Santa Barbara County are co-hosting as special event for small businesses.

Topic: Good to Great for Professionals and Small Business
Date: September 17, 2007

Based on the book Good to Great by Jim Collins, documentary film maker Sam Tyler will provide a customized presentation using several case studies and parts of his various films (including Good to Great) to show professionals and small businesses how they can create truly great businesses here in Santa Barbara.

Thank you to:
Our Platinum Sponsor - Business First Bank
Gold Sponsors - TBA
Supporting Organizations - Santa Barbara Chapter of ASWA & Others TBA

Watch blog posts for more information.

It's What You Stand For

“It’s not what you make. It’s what you stand
for.”

Jim Collins

With that in mind, many businesses will create a mission statement and establish a set of core values.

The first step is to create a mission statement and establish a set of core values. The second step, which many businesses fail to do, is to incorporate the mission statement and core values into everything the business does.

Take, for example, a CPA firm. Let’s say that they establish Integrity as one of their core values. If you call that firm and ask for a price for various service, more likely than not, you will get a response similar to this: “Our fees are based on the time required by the individuals assigned to the engagement, plus direct expenses. Individual hourly rates vary according to the degree of responsibility involved and the skill required.”

How does that response answer your question? It doesn’t. And, where’s the integrity in that?

In order to stand for something, a business needs to have a mission statement and a set of core values. And, these must be incorporated into everything the business does, including pricing policies, sales process, product/service offerings, customer selection criteria, etc.

Does your CPA stand for something? Do they have a mission statement and a set of core values? Have they incorporated these into everything they do, including pricing? Or is there a disconnect between what they say and do?

On a final note, is you need to create a mission statement, establish a set of core values, and incorporate these into everything your business does, talk to a Principa CPA. He/she has the tools and special worksheets to get you started and complete the process.

Read this first....then go to the link

The Honda Commercial

And you thought those people that set up roomfuls of dominos to knock over were amazing. There are no computer graphics or digital tricks in this film. Everything you see really happened in real time exactly as you see it.

The film took 606 takes. On the first 605 takes, something, usually very minor, didn't work. They would then have to set the whole thing up again. The crew spent weeks shooting night and day. By the time it was over, they were ready to change professions.

The film cost six million dollars and took three months to complete including full engineering of the sequence. In addition, it's two minutes long so every time Honda airs the film on television, they're spending enough money to keep any one of us comfortable for a lifetime.

However, it is fast becoming the most downloaded advertisement in Internet history. Honda executives figure the ad will soon pay for itself simply in "free viewing" (Honda isn't paying a dime to have you watch this commercial!).

When the ad was pitched to senior executives, they signed off on it immediately without any hesitation - including the costs.

There are six and only six hand-made Honda Accords in the world. To the horror of Honda engineers, the filmmakers disassembled two of them to make the film.

Everything you see in the film (aside from the walls, floor, ramp, and complete Honda Accord) is parts from those two cars.

The voice over is Garrison Keillor. When the ad was shown to Honda executives, they liked it and commented on how amazing computer graphics have gotten.

They fell off their chairs when they found out it was for real. Oh, and about those funky windshield wipers. On the new Accords, the windshield wipers have water sensors and are designed to start doing their thing automatically as soon as they become wet.

The commercial is truly a tribute to innovation and perserverance.

As Ronald Reagan once said,

"There are no great limits to growth because
there are no limits to human
intelligence, imagination, and
wonder."

The commercial is available for viewing at either of the following sites:

http://www.albinoblacksheep.com/flash/honda.php

http://www.steelcitysfinest.com/HondaAccordAd.htm

Change

My friend Ric Payne, founder of the Principa Alliance, says this about change:

If you're willing to change only if:

• It carries no risk
• Produces quick results
• Is inexpensive
• Will not offend
• Does not consume your personal time
• Does not require a change in your behavior

DON'T BOTHER!

GREAT SERVICE TAKES TWO

Recently, MSN City Guides featured an article reminding customers that they too play an important role in securing quality service when dining out.

The author, Zane Schmalzer, presents readers with six simple ways to ensure great service.

1. Communicate your goals for the evening to your server.
2. Make sure your server is aware of your food likes and dislikes, as well as any food allergies.
3. Expect the best, and trust the restaurant to provide you with a positive and enjoyable dining experience. Leave your memories of bad dining experiences at home.
4. Don’t be afraid to make special requests or to get clarification of menu items.
5. Be pleasant, and don’t for get to smile.
6. If something does go wrong, speak up immediately. Give your server and the restaurant a chance to make things right.

As I read the article, I couldn’t help but think; what if we substitute CPA and financial terms for server or restaurant and related restaurant terms?

As a customer, you need to let your CPA know what your service expectations are and whether or not they are being met.

As a service provider, your CPA has a responsibility to meet or exceed your service expectations.

Also, consider how to apply these same principles to your business when working with your customers.

To read the complete article, visit: http://cityguides.msn.com/restaurants/article.aspx?cp-documentid=3795099&page=1

And, why not send a copy to your CPA as well.

If the article is no longer available on MSN, please let me know. I will be happy to forward you a copy.

Taking Care of the Future

How well does your CPA tend to and nurture his/her own business?

The care and attention your CPA gives to his/her own business is a direct reflection of the care and attention that your CPA is willing and able to give to your business.

The next time you are visiting your CPA, take a look around. Look for positive signs that your CPA is giving attention to on-going and future operations of his/her business. Such signs include:

• Office environment and décor – Does your CPA maintain a neat and tidy work environment? Is the décor kept fresh and well maintained?
• Technology - Is your CPA aware of the latest technology available to increase efficiency in business? Does your CPA have a technology plan for his/her business? Has your CPA implemented paperless technology? Has your CPA established a Virtual Office, in order to make working with him/her easier?
• Continuing Education – What is your CPA’s attitude toward continuing education? Does he/she take the minimum required hours each year, and limit his/her choices to tax and accounting? Or, does his/her annual CPE hours far exceed the minimum requirement and include management, technology, leadership, and personal development classes?
• Corporate Culture – Does your CPA and his/her Team keep a professional appearance and dress style? Does your CPA and his/her Team appear to enjoy their work, the company they work for, and the customers they work with? Does your CPA have a vision and mission statement? Are these statements reflected in everything your CPA does?
• Leadership – Does your CPA have a succession plan? Does your CPA develop leadership skills among Team members? Is work properly delegated among Team members?

With this last concept in mind, the California CPA Society has created the Young and Emerging Professionals Conference (YEP). The conference is designed for CPAs licensed for 0 – 5 years, CPA candidates, accounting students and mentors. Future leaders of the CPA profession will be asked to challenge their thinking and experience professional growth at the conference. Speakers will be sharing their expertise in career development, networking, negotiating, and leadership. In order to make it easy for CPA firms to send their young professionals to the conference, the conference will be held one day in northern California and another day in southern California.

Forward thinking CPA firms with an eye towards enhancing their business and developing a strong successful firm for the future will be sending their young professionals to the YEP conference. Is your CPA sending his/her young Team members to the YEP conference?

To learn more about the YEP conference, visit: http://www.calcpa.org/yep.htm

To register for the conference, visit: http://www.educationfoundation.org/courses/courses_display.asp?Par_EventId=57123001&Par_EventYr=07

Another way to think about it…

Recently, Mega Millions reached an all time high of over $390 million. The winning couple from New Jersey were quoted as saying: “We are retired, effective immediately.”

If your CPA were to retire, effectively immediately, would you be left in good hands?

And on the flip side, what has your CPA done for you to ensure that if you were to retire effective immediately, your customers would be left in good hands?

Another Accountant Counts The Ways

Earlier this week, an accountant from Texes sent a letter to Dear Abby suggesting ways that clients can "help out" during tax season.

I couldn't disagree with this accountant more.

Here's my response:

Dear Abby,

As a CPA, I was horrified when I read the letter from Sleepless in Texas (03/26/07), the accountant who listed ways to help out during tax time.

I encourage your readers who recognize their CPA in that letter to change CPAs at once. There are plenty of CPAs who enjoy their work, enjoy their customers and organize their accounting business so that they are well rested and alert to provide the best service.

I propose the following ways to help out during tax time:

1. Do feel free to drop by anytime. You are always welcome in our office. We hope you feel it is a place where you can get things done, solve your problems and gain peace of mind. If your primary CPA is not available, you can meet with one of our other highly qualified Team members.
2. Tell us about your children, family, business, hobbies, etc. The more we know about you the better we can serve you and provide you with appropriate advice and solutions. Arrange to come in more than once a year. The most valuable service we offer is proactive planning.
3. Be honest with us up front regarding your budget for professional services. That way, we can design a fixed price agreement to suit your needs before work starts.
4. Encourage your family, friends and colleagues to call us if they need help. Referrals are the best way you can thank us for a job well done.
5. If you have a question regarding the financial consequences of a decision you are trying to make, call us. After all, your fixed price agreement includes an annual consulting agreement to discuss such matters. Of course, if your questions require additional research and analysis, we will issue a change order and provide you with up front pricing for the additional work.
   
   Sincerely,
   
   Well Rested in California

To read the original letter from Sleepless in Texas, visit:

http://www.uexpress.com/dearabby/?uc_full_date=20070326

If this link is no longer available, I can send you a copy of the letter from Sleepless in Texas.

WHAT IS AN FPA?

In last week’s blog, I mentioned that business owners might want to consider including unlimited assistance in hiring bookkeepers and consultants as one of the services in the annual FPA you have with your CPA.

At this point, you may be asking yourself, “Just what is an FPA?”

I discussed FPAs as part of my November 29, 2006 blog on year end planning. I think it’s time to re-visit the topic.

An FPA is a Fixed Price Agreement between a customer and his/her CPA.

Through the use of an FPA, you can set the price and payment terms of your accounting services for the year. Further, the FPA will define the scope of services to be provided by the CPA and include any responsibilities of the business owner. In addition, the FPA should include the CPAs service guarantee.The advantages of an FPA are numerous.

• The business owner is relieved of any uncertainty regarding the amount of his/her accounting bill.
• The business owner can manage cash flow according to the payment terms of the FPA.
• FPAs break down the barriers of communication between the business owner and the CPA.
• The service guarantee provides the business owner the comfort that he/she will receive the quality of service he/she deserves.
• The business owner is free to attend to other aspects of his/her business.
• Payments to the CPA can be set up as memorized transactions in the accounting system.
• The FPA typically includes ongoing access to the accounting, tax, and business advice the business owner needs on a fixed-price basis. The business owner is not inhibited from seeking timely advice by the fear of a clock running endlessly. This offers the business owner access to the accumulated wisdom of the firm through CPAs with substantial experience who can help enhance the company's future and achieve its business goals.

So the next time you need professional services from your CPA, sit down and negotiate the service and pricing terms ahead of time, and have them documented in an FPA.
Your CPA has sample FPAs on the Cd that came with his/her copy of the Professional’s Guide to Value Pricing. Samples if simple FPAs are available in the Resource section of the Verasage web site. www.VeraSage.com

SELECTING A BOOKKEEPER

A company needs its own bookkeeper to keep track of the day-to-day transactions of the business, complete monthly, quarterly and annual reconciliation procedures and assemble the financial package for the CPA. Competent bookkeepers can be hard to find. According to Stephen Sahlein, co-president of the American Institute of Professional Bookkeepers (AIPB), most bookkeepers lack the knowledge needed to fulfill their function. Consequently, your business may be at risk.

You cannot always ascertain a bookkeeper’s ability and skill level from a resume or interview. There is a way to make sure that the prospective bookkeeper knows basic bookkeeping – Administer the FREE hiring test available from the AIPB. The test consists of 10 questions on key everyday bookkeeping skills. Applicants cannot obtain the test beforehand, because each 10-question test is drawn from a databank of 250 items.

If your prospective bookkeeper is competent or holds a Certified Bookkeeper (CB) designation from the AIBP, she/he will have little trouble successfully completing the test.

For more information about the AIPB, visit: http://www.aipb.org/index.php

For more information about the FREE hiring test, visit: http://www.aipb.org/testrequest.php

You may also want to consider having your CPA include the following line in your annual FPA:
“Unlimited assistance in hiring bookkeepers and consultants.”

SELECTING A CONSULTANT

Small businesses often lack the internal resources needed to complete major business projects, and look for an outside consultant for assistance.

Such projects include:

• Preparing budgets, business plans and cash flow projections
• Creating a marketing plan and conducting the related campaign
• Making major IT improvements or even just monthly IT maintenance
• Tax returns
• Developing an employee manual
• Employee benefits packages
• Customer Advisory Boards
• Team Advisory Boards
• Towards Awesome Service Training
• KPI monitoring
• Phone Right
• Strategic Planning

Small business owners and managers can get the best results from their consultants by asking themselves 10 simple questions. See The Consultant Customer’s Bill of Rights at:
http://www.verasage.com/index.php/resources/the_consultant_customers_bill_of_rights/

HANDY LITTLE ADD ON

Studies have shown that businesses can increase productivity from 10% - 70% by implementing dual monitors and paperless technology.

The Microsoft study on dual monitors can be viewed at: http://research.microsoft.com/displayArticle.aspx?id=433

An IT professional shares his personal experiences with dual monitors at:
http://www.windowsitpro.com/Windows/Article/ArticleID/47573/47573.html

To hit the higher end of the productivity scale, consider adding on the UltraMon utility from Realtime Soft. This extremely affordable handy little add on adds two new buttons to your open windows. The first button allows you to move an open window from one monitor to the next with just a single mouse click. The other button allows you to stretch an open window across both monitors with just a single mouse click.

For more information about UltraMon and its other features, visit: http://www.realtimesoft.com/ultramon/

Sometimes Someone Else Says It Better

I believe that Knowledge Worker based businesses (CPAs, lawyers, technology consultants, marketing consultants, etc.) should Value Price their services, and provide customers with a Fixed Price Agreement up front.

Many others believe the same way. Some of them started The VeraSage Institute. The VeraSage Institute is the most revolutionary think tank for professional service firms. They challenge the professions to break free of practice methods that hurt the profession, undermine their purposes, and fail their customers.

Among their quests: Burying the Billable Hour.

This means eliminating hourly billing and the timesheets that go with it. Professional service firms are encouraged to run their firms by “pricing on purpose” and making customer service and customer value number one priorities in their practice. Such firms need to re-align their corporate culture, and also recognize that their team of professionals are knowledge workers, not machines.

In order to assist professional service firms with these goals, they have developed the VeraSage web site. For more information, visit: www.verasage.com

As a result of their quest, the founders and followers of VeraSage, spend much of their time dealing with the technical issues of “how to” make the necessary changes. Ron Baker, CPA (the original value pricing guru), recently took time to reflect on this, and remind professionals, the real reason for value pricing – to better serve our customers. To read Ron’s blog, visit: http://www.verasage.com/index.php/community/comments/its_the_quality_of_life_stupid/

More importantly, read Chris Marston’s blog he links to at the end of his blog. Chris is one of the founders of the Exemplar law firm, a law firm in Boston dedicated to the principles of Value Pricing. I could not have said it better myself.

Happy 212 Day!

Earlier this week it was 212 day. (February 12 is 212 day.)

Remember my Happy New Year post?

I challenged business owners to read the 212° book from Simple Truths, and implement the 212° strategy in their business and in their lives.

This week (the week of 212 day) seemed like a good time to write this reminder to take it up an extra degree in all you do.

Remember, as the book points out...

It's your life.
YOU are
responsible for your results.
It's time to turn up the heat.

From this day forwards, commit to operating at 212 degrees in
everything you do. Etch
it into your thinking - into your
being. Apply it to your actions. It
guarantees to increase
your results positively and, in so many cases,
increase
your results exponentially.

If you need help in applying the 212° concepts to your business, please think of using a Principa accountant to be your business coach. me. A member of the Principa Alliance can work with you to identify areas in your business that are not realizing their full potential and help you improve them to build a stronger, more profitable future. This is a step-by-step process that includes creating a strategic plan, plan implementation, systems development, customer service and team training, and ongoing monitoring and management advice.

For more information about the 212° book and to view the video, visit: www.SimpleTruths.com

“If you keep doing what you’re doing,
you’ll keep getting what you’re getting!
One definition of insanity is to keep doing
the same things and expecting different results.”
Stephen Covey

Recently, I had a meeting with a prospective customer.

It seems that he is disappointed with his current CPA, and is looking to make a change. Last year when his income tax returns were completed, he had a sizable balance due. This forced him to borrow money to pay his taxes. He felt that there should have been a more proactive approach towards planning on the part of the CPA, and that his CPA should have warned him well before his returns were due that a large payment would be needed.

For years he had been paying his CPA by the hour. The final bill usually came within the $500 range. Although, one year he was not pleased when the bill was $850.

This scenario point to one of three situation:

1. The CPA routinely charges less than $1,000 for a tax return. In order to make enough money, this means that the CPA must prepare 500 – 1000 returns each year. That’s a lot of returns! When a CPA takes on that much work, she is unable to provide quality service and has little time to be proactive when it comes to tax planning.
2. The client assumed it was the CPAs responsibility to take the lead in tax planning matters. The CPA assumed that if the client was interested in tax planning, then the client would ask. Hmmm… what is it they say about assuming? (Note: In this paragraph I used the term “client”. That is because in these situations, CPA call their customers “clients”, and customers act like “clients”. More about that in another blog.)
3. Somewhere in the relationship, the client identified himself as a $500 client. The CPA treated him accordingly.

The prospective customer came to me hoping to find a CPA who was more interested in his business and more interested in providing proactive planning services. What’s interesting, though, is that when I asked his budget, he said: “I’d like to stay in the $500 range.”

LESSONS TO LEARN

To paraphrase Steven Covey:
If you keep paying $500 for accounting services, and expect better service – You’re crazy!

Communicate with your CPA. Let her/him know what level of services you want, and what your budget is. Be willing to pay for quality work and service. What is it they say about paying for advice? “Good advice never costs, it pays.”

Be sure you have properly identified yourself with your CPA. Every CPA firm should have a definition for being an A, B or C customer. And, they should be willing to share the criteria with you.

Be willing to change.

Never be surprised by your CPAs services or their bill. Get a fixed price agreement in advance.

Remember – You’re the customer.

HOW I HANDLED THE SITUATION

I provided the prospective customer with a proposal. The proposal had six different service levels, and each level was priced accordingly.

MAGIC NUMBERS FOR BUSINESS

Did you know…?

• A change of just 5% in customer retention can produce a staggering 125% change in profits.
• 68% of customers leave because of perceived indifference.
• Most businesses spend 6 times more to attract new customers than they do to keep the ones they've got.
• Each unhappy customer tells at least 9 others about their bad experience.

Sobering stuff.

While you're in business to make a profit, managing a business only for profit is like playing tennis with your eye on the scoreboard. The 4 purposes of your business are to:

• Create new customers
• Keep them coming back
• Turn them into advocates for you, and
• Have fun!

Don't aim to satisfy your customers. Aim to delight them!

As a member of the Principa Alliance, an international network of business consultants, my goal is to help business owners and managers build a stronger, more profitable business and enjoy a higher quality of life as a result.

When businesses work with a Principa Alliance member to improve their business, they gain access to a global knowledge base and a wealth of consulting experience that is so much more powerful than any one firm could offer.

In short, a Principa Alliance member can, and will, do so much more for a business than just 'keep the score.'

Benchmarking - why do we do it?

Benchmarking is a careful search for excellence - taking the absolute best standard and trying to surpass it - and not many businesses are likely to succeed in the new millennium unless they are willing to do just that.

The experience of all businesses who’ve tried it shows that you can enormously improve quality in service and efficiency if you:

• Find examples of people or businesses anywhere in the world who do a truly excellent job in performing each of the jobs involved in their business.
• Study those examples with an open mind and a teachable spirit.
• Never assume that you’ve either found the best or become the best yourself.

Keep searching constantly for better ways.

Remember to ask yourself: “CAN I?” - Constant and Never-ending Improvement.

It’s a simple recipe. And a recipe for enormous power.

To find examples of businesses with excellent business practices, look for:

• Businesses that have won the Malcom Baldridge Award
• Businesses recognized by JD Power & Associates
• Businesses with higher than average earnings
• Businesses that are established leaders in their industry
• Businesses that are known for innovation and creativity

As a member of the Principa Alliance, an international network of business consultants, my goal is to help business owners and managers build a stronger, more profitable business - a business that is looking to constantly improve. In turn, these owners and managers enjoy a higher quality of life as a result.

When businesses work with a Principa Alliance member to improve their business, they gain access to a global knowledge base and a wealth of consulting experience that is so much more powerful than any one firm could offer.

In short, a Principa Alliance member can, and will, do so much more for a business than just keep the score.

Club V

Working with your CPA just got easier.

The power of the Internet is making relationships with your CPA more successful.
Collaboration suites are easy to use, and make great customer portals.

Forward thinking CPA firms are discovering many unique and creative ways uses for customer portal technology to solve real business problems and are turning their portals into opportunities to provide better service to their customers. CPAs and their customers work together in entirely new ways. They have the ability to share documents, back-up files and draft returns and financial statements.

Wherever and whenever you and your CPA need to work – in the office, on the road, even around the world, the portal keeps everyone in touch. Everything you and your CPA need is accessible from anywhere. Even remote workers will stay connected – just like they’re in the same office.

Leading edge CPAs are taking the customer portal to the next level by creating Virtual Firms. They bundle access to the portal with other traditional and non-traditional services. They enhance the customer portal experience with:

• Newsletters
• Alerts
• Personalized messages
• Articles
• Profit boosting ideas
• Videos
• Conducting opinion polls
• Discussion forums
• Scheduling meetings
• Creating shared business information databases
• Posting web links
• Making announcements
• And even web meetings and seminars

At a time when their customers are demanding service flexibility and 24/7 access, CPAs who are members of the Principa Alliance are using Virtual Firm to provide a new “on-demand” way of doing business.

Delivering WOW Service

Tom Peters said it best in his book In Search of Excellence: “The best kept secret in the global economy is this: When your service is awesome, you get so stinking rich that you have to keep buying new bags to carry all the money home.”

Notice he didn’t say that your service should be good, or great, or mediocre. Or that your customers should be satisfied. He said, “When your service is AWESOME.” The kind of service that makes people sit up and take notice. The kind of service that makes people talk about you.

Look at the businesses and companies that have achieved truly great things. Businesses like Disneyland, McDonald’s and Virgin have made big names for themselves by delivering the type of service that qualifies as awesome.

That’s easy for them, you say? Well, it’s easy for you too.

Many small businesses have carved a niche for themselves by delivering more than expected to their customers and delighting them in the process.

Notice again I didn’t say “satisfy them” - I said “delight”. Why? Because delighted customers talk. Oftentimes about your business.

If you doubt the value of delivering awesome service, think about how much business is obtained through word of mouth. Many business owners, when asked where their business comes from, answer with “word of mouth.” If that’s the case, how can you capitalize on that to get more people referring business to you?

The easiest way, by far, is to impress your customers so much that they become advocates for you.

The way to do this? Give them WOW service!

Service that gets your business talked about. It’s a way to create absolutely free publicity for you—and the good news is that it doesn’t cost you a penny more to give ‘WOW’ service than it costs to give ‘satisfactory’ service.

CPAs whi are members of the Principa Alliance are not your average advisory firms. Far from it. They do so much more than just “keep the score.” These firms will work with businesses to identify areas in the business that are not realizing their full potential and help improve them to build a stronger and more profitable future. A firm’s membership in the Principa Alliance means that customers have access to the collective knowledge and expertise of an international network made up of hundreds of professionals who specialize in consulting to small and medium-sized businesses by providing services such as the Team Advisory Board (TAB). Everyday team members are on the front line of customer service. The TAB workshop is a facilitated interactive session designed to tap into a team’s collective experience and develop a business strategy to create WOW service.

Happy New Year

HAPPY NEW YEAR!

The new year has always been a time for looking forward to the coming year. It’s a time to reflect on the changes we want (or need) to make, and resolve to follow through on those changes.

Several weeks ago, a book came across my desk. 212° The Extra Degree captures the essence of excellence in an unforgettable way… At 211° water is hot. At 212°, it boils. And with boiling water, comes steam. And steam can power a locomotive. The one extra degree makes the difference.

I think you will agree that this simple analogy reflects the ultimate definition of excellence. Because it’s the one extra degree of effort, in business and life, that can separate the good from the great.

This book can help you create a truly excellent 2007.

This is the perfect time to commit to doing one thing everyday to improve your business. You can start by having GamePlan™ calculate the substantial results made possible by making just small (one degree) changes in your business.

If you need help in applying the 212° concepts to your business, please think of using a Principa accountant to be your business coach. me. A member of the Principa Alliance can work with you to identify areas in your business that are not realizing their full potential and help you improve them to build a stronger, more profitable future. This is a step-by-step process that includes creating a strategic plan, plan implementation, systems development, customer service and team training, and ongoing monitoring and management advice.

For more information about the 212° book and to view the video, visit: www.SimpleTruths.com