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A good hard look
1.
1 © Barolsky
Advisors, 2013 © 2009 Beaton Research and Consul=ng Pty Ltd A Good Hard Look A strategic audit of your firm's cri7cal client rela7onships A profit growth ini=a=ve for professional service firms offered by Barolsky Advisors
2.
2 © Barolsky
Advisors, 2013 "Insanity: doing the same thing over and over again and expec6ng different results." Albert Einstein
3.
3 © Barolsky
Advisors, 2013 Some ques7on to consider • Are cobwebs the only things growing around some of your "Growth" clients? • Are some of your client rela=onships you've designated as "Rising Stars" or "Future Leaders" or equivalent stagnated or even declined? • Are you are just doing the same things year in and year out and somehow expec=ng a significant leap in revenue or profits? • It's just crazy, according to Einstein, to expect different results when you're doing the same thing over and over again.
4.
4 © Barolsky
Advisors, 2013 A new service from Barolsky Advisors • Barolsky Advisors is offering a new service called A Good Hard Look which aims to: 1. Audit stalled growth client rela=onships 2. Recalibrate goals and expecta=ons 3. Advise on the changes to strategy, people and processes necessary to achieve superior outcomes
5.
5 © Barolsky
Advisors, 2013 A fresh, independent and validated approach The dis=nc=ve elements of this service include: – A fresh and independent view on how to take the firm-‐client rela=onship to the next level – A holis=c approach covering mul=ple perspec=ves – Validated ques=ons, "lenses" and analy=cal tools – An approach that engenders stakeholder buy-‐in A Good Hard Look will deliver a list of priori7sed opportuni7es and specific ac7on items to achieve superior outcomes.
6.
6 © Barolsky
Advisors, 2013 Our approach takes into account the stage in rela7onship lifecycle and your longer-‐term strategic intent Time Value created for your firm and the client
7.
7 © Barolsky
Advisors, 2013 Strategic audit of firm-‐client rela7onship undertaken from five perspec7ves or lenses [1 of 2] 1. The context of the rela0onship, including client industry trends, the client's corporate and business strategy, their values and culture, their future capex and opex spend, their in-‐source/outsource strategy, and the nature and intensity of compe==on faced by the firm 2. The client's specific needs and expecta0ons, including iden=fying the buying unit, their KPIs, their value drivers, value destroyers, emerging issues and future needs 3. The client’s percep0ons of the firm, including their views on the firm’s current exper=se, service, people, pricing and value, the strength and breadth of the person-‐to-‐person rela=onships, their willingness to consider the firm as a provider across other prac=ces and loca=ons, and the firm's poten=al role in addressing other unmet needs
8.
8 © Barolsky
Advisors, 2013 Strategic audit of firm-‐client rela7onship undertaken from five perspec7ves or lenses [2 of 2] 4. The strategies and tac0cs used to develop the rela0onship, including what’s been tried and what hasn’t, what’s worked and what hasn’t, what the key financial and opera=ons metrics tell us, and the proposed game plan for the next 12 to 18 months 5. The people and processes involved, including the skills, confidence and drive of the Client Rela=onship Partner/Rela=onship Manager and Client Team, and the internal systems and processes used to prepare, execute and review their plan
9.
9 © Barolsky
Advisors, 2013 #4 Strategy and tac7cs – example of audit tool UNDERSTANDING RELIABILITY VALUE AFFINITY + + + COMPLACENCY = A TRUSTING RELATIONSHIP Refer to Rela=onship Capital blog for more detail What strategies and tac6cs are [1] currently used and [2] planned for, on these five drivers of a trus6ng rela6onship?
10.
10 © Barolsky
Advisors, 2013 #5 People and processes – example of strategic audit tool Gets input from the right players to the plan Devises new ideas and fresh approaches to create more value for both par=es Crals a compelling and expansive vision for this client and a clear game plan to achieve it Visualises a future "zippered" rela=onship with many mul=-‐level contacts Constantly deepens understanding of client’s business and industry Reads organisa=onal culture and poli=cs really well – both firm’s and client’s Readily iden=fies people’s hot-‐ bumons and personal needs Has in-‐depth knowledge of our business and who is good at what An=cipates issues ahead and takes ac=on now Commits =me, energy and re-‐ sources necessary to achieve goals Recovers well from set-‐backs and persists Disciplined in following through on agreed ac=ons Has no call reluctance Builds trust by good judgment and ac=ng reliably and with integrity Inspires people by speaking passionately about the client and our offer Gracefully transforms the mood of each mee=ng to his/her advantage Responds brilliantly to client’s concerns and nego=ates win-‐win outcomes Is comfortable having strategic conversa=ons with C-‐suite Key competencies of a great CRP/ Rela6onship Manager
11.
11 © Barolsky
Advisors, 2013 A Good Hard Look – typical process, but usually tailored for each client Set-‐up Data and doc analysis Internal interviews Client interviews Synthesis Workshop R'ship and profit opport-‐ unity ac=on plan
12.
12 © Barolsky
Advisors, 2013 Tailoring the approach • Barolsky Advisors is happy to tailor the approach to suit your specific needs. This tailoring may address or include: – Varying the number and format of interviews – Co-‐crea=ng the audit process with firm representa=ves – Tailoring the deliverables to ensure outcomes are reflected in client plans – Changing ques=ons asked of clients to fit with current surveys – Working with exis=ng 360 degree or performance management data to assess client management competencies – Adap=ng the process to include training, development and coaching elements – Development of long-‐term Rela=onship Capital scorecards and tracking KPIs – Advice on client development strategy
13.
13 © Barolsky
Advisors, 2013 Lead consultant: Joel Barolsky • Joel Barolsky is Managing Director of Barolsky Advisors, Senior Fellow of the University of Melbourne and Associate of Mt Eliza Execu=ve Educa=on. • Joel is interna=onally recognised as an outstanding advisor, facilitator and educator to professional service firms, prac=ce teams and client rela=onship partners. He is an expert in business strategy, client rela=onship strategy, marke=ng. business development and pricing. His facilita=on style is engaging, passionate, sensi=ve and outcome-‐focused. Joel has spoken at numerous industry conferences and is frequently quoted in the professionals services press. • For 16 years, Joel was a Principal at Beaton Research & Consul=ng, Australia’s leading advisor to professional service firms. • Joel has consul=ng with over 100 of Australia’s top professional service organisa=ons. Over 70% of his client are repeat clients or come directly from referrals from exis=ng clients. • In 2012, Joel launched the highly successful Rela=onship Capital blog which provides fresh insights in how to grow cri=cal client rela=onships.
14.
14 © Barolsky
Advisors, 2013 Interested? Please contact Joel on 0417 305 880 or joel.barolsky@barolskyadvisors.com
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