Case Studies

Accounting Practice - Sole Practitioner

Some background:

• Sole Practitioner
• 8 staff
• One partner with everything centred around him

The issue:

• Sharing the responsibility for the business to others and reduce the direct involvement of the principal
• Improving internal systems
• Growing the practice past the current ceiling of $600k and the current income level of $200k

Process:

• Review and re engineer client service offering using Performance Package process
• Involve both partners and senior staff
• Dealt with challenges and resistance as they arise
• After the client service offering had been re-engineered, all staff were communicated with and trained

The results:

• Ownership of what the practice delivers by all
• Starting to create a third layer of staff therefore giving more leverage to the practice and more career opportunities
• Recognition by staff on dependency on Principal. Willingness to be involved in re-engineering practice.
• On target to an 18% growth in fees and a 25% growth in profitability

The learning's

• Change happens over a time with a combination of a process and the courage of the leaders
• Trust the process

What he said:

"Henry's calm and methodical analysis of team issues helps draw our own creativity out in finding solutions to complex issues"

Principal - Accounting Practice