The Practice Innovation Workshop
Do you believe what we believe?
If you do, you’ll want to register for this program.
Here’s what we believe …
- It’s not getting any easier to make good money and enjoy a sense of professional accomplishment with the “traditional” accounting business model.
- The movement towards cloud-based application technology is going to re-write the competitive environment for accounting firms in a way that’s going to create enormous opportunities for those who anticipate and re-design their business model to accommodate it and enormous challenges for those who don’t.
- Best practice solutions are a table stake. They have never resulted in a sustainable competitive advantage. In addition to implementing best practice, the future success of your firm depends on two (related) things:
(1) Your ability to attract and develop profitable relationships with the RIGHT clients – which, by the way, is not a simply marketing issue, and
(2) Your ability to attract, develop and retain talent.
Incidentally, both of these are key elements of any succession plan you may be contemplating.
If you share our beliefs, you’ll immediately understand that the solution lies not in focusing on doing what you’re now doing a bit better – that’s what everyone does. Instead, you’ll understand that giant leaps in performance come from radically re-thinking your entire business model. In short, innovating in one or more of the 10 areas in which opportunities to create a difference exist.
This infographic pretty well sums up the way we see the industry.
- In every industry (including accounting) some firms consistently out-perform the rest by an order of magnitude.
- More than 50% firms generate less than the industry average net profit per partner.
- Most (under-performing) firms use exactly the same business model which makes differentiation virtually impossible.
- In the absence of differentiation services are commodities and margins thin.
- Pursuit of best practice is a necessary condition for operational excellence but it’s not a sufficient condition for performance greatness.
- Firms that design and implement a superior business model dramatically out-perform the rest. If you are stuck in the center of the “bell curve” re-designing your business model is the only way out.
- Greatness does not happen overnight but results from a carefully thought through strategy that’s well executed.
- Business model design is a learnable skill it is also an incredibly valuable service line for a firm interested in playing a role in the business advisor space.
- The Practice Innovation Workshop is your key to the White Space.
A quick word about Ric …
As a senior partner in a mid-sized accounting practice he played a major role in the explosive growth of the firm – we’re talking 3.5x increase in revenue and 4x increase in net profit per partner over a 3 year period. He was then a co-founder of Results Accountants’ Systems (which totally changed the mindset of thousands of practitioners around the world) and subsequently he started Principa to continue to support small and mid-sized accounting firms achieve their full potential. He has invested a good part of his professional life starting, building and re-constructing accounting firms and has had the benefit of seeing (and doing) what works and what doesn’t.
A no-so-quick word about this process …
Firstly, IT’S NOT A CONFERENCE!
It’s a 2-day Practice Innovation Workshop that front ends a 12 month structured process Ric has created to retrofit your accounting firm to better meet the challenges and capitalize on the opportunities that lie ahead.
Now more than at any time in the past there’s an urgent need to think outside the box. Whether you’re enjoying great success or struggling to define a strategy things are changing so rapidly you must innovate; me-too businesses will continue to fall behind the leaders.
And that’s exactly what this process is about ….. it will force you to think outside the box.
It’s about INNOVATION – in fact, we’ll be focusing on the 10 sources of innovation that every accounting business could and should be considering.
You’ll work with the 12 weapons of mass disruption that will enable you to get creative about your business model … to give you an accounting firm that differs from the other firms in your competitive space.
Here’s a thumbnail sketch of what it’s all about
Our goal is to offer you an affordable, 12 month structured process to review, re-design, re-engineer and re-position your accounting business so you can take advantage of the opportunities that are emerging in your market. Why 12 months? Simply because you don’t get a project of this magnitude and importance done in a couple of days!
You’ll how learn to apply INSIGHT to HINDSIGHT to acquire FORESIGHT
This is how we’ll do that …
- The program will be limited to a maximum of 40 people for each intake because of the intensity of the support process that’s included.
- It is a 2 day event that front-ends a 12 month process.
- During that time your firm will have access to a resource-rich portal that contains everything you’ll need and if it’s not there we’ll source it.
- At the workshop you will learn how to prototype a differentiated business model for your firm using a proven design process by applying what we call the 12 weapons of mass disruption.
Once you learn how to design and prototype a robust business model you’ll be able to monetize that skill by offering to your clients as a valuable service – this highlights the delightful duality of the process. You’ll discover how to do that at the workshop and if you don’t recover your investment in the program from this alone we’ll be amazed. This is a good reason for bringing one of your next generation firm leaders to the program.
Once you get into the process, you will soon discover that it is THE most important WORKING-ON your business activity you have ever done.
Upcoming 2015 dates & locations coming soon!