Book Report: Get More Referrals Now

by Eric Hunt, Director of Business Development, Boomer Consulting, Inc.

Book: Get More Referrals Now
Author: Bill Cates

Overview

This is a great book that is basic and foundational in its message of building your business through referrals.  It focuses on the idea of building referral relationships by developing 4 key skills:

• Enhancing your referability by exceeding client expectations, having an attitude of service, and finding value in a “complaining” client.
• Prospecting for referrals by asking for referrals at the right time and the right way.  Work with your clients to educate them on what you are looking for.  Most of all…ask for an introduction!
• Strategic Networking is the idea of building a personal sales force of people that bring you qualified leads.  Always have a strategy for every event you attend.
• Targeting Marketing Niches is focusing on what you do best and who fits best with your services.  You then build your target marketing plan for referrals based on your niche.  

It is a very straight-forward look at how to attract more referrals.  It is an easy read that makes for easy changes in any business trying to build business with the use of referrals.

Top 5 Points

1. Referrals close at a MUCH higher rate than traditional cold calling.  In a large life insurance study it was 40% to 11%.
2. Client service and good communication with them is vital!
3. The best clients want to refer business to you.  Work with them!
4. Referrals create win-win situations for you and the clients.
5. Follow-up is the key!

How is this book applicable to our industry?

I decided to re-read this book after we started the 10x goals.  It has helped me get my mindset into actively looking for referrals.  This book contains several strategies that the entire team can use to help in the areas of referrals.

• Accurate and timely billing
• Great execution of services
• Correction of issues/errors quickly
• High value adds
• Using “thank-you” more often
• Returning calls promptly

Quick and easy read.  I have started to use it as a quick reference guide and reminder as we are building up the referral focus at BCI.

Book Report: One Small Step Can Change Your Life. The Kaizen Way.

by Arianna Campbell, Project Manager, Boomer Consulting, Inc.

Book:  One Small Step Can Change Your Life. The Kaizen Way.
Author: Robert Maurer PhD.

Overview

This book addresses the fears and failure associated with trying to make drastic and dramatic change. Instead of trying to make a huge change all it once, Maurer suggests that taking small steps to achieve your goal will result in longer lasting success. This method is based on a Japanese technique called Kaizen which teaches small steps for continual improvement. He also emphasizes that the step can be extremely small because even the smallest steps will take you closer to your goal. Maurer says, “Kaizen is an effective, enjoyable way to achieve a specific goal, but it also extends a more profound challenge: to meet life’s constant demands for change by seeking out continual – but always small – improvement.”

Top Points

1. Many people are crippled by the belief that innovation is the only way to change.
• Innovation is defined as, “a drastic process of change. Ideally it occurs in a very short period of time, yielding a dramatic turnaround. Innovation is fast and big and flashy; it reaches for the largest result in the smallest amount of time.” 
• Innovation is necessary – it is what drives growth and change, but when it is combined with Kaizen it increases the odds of success.
• “Kaizen Versus Innovation: Kaizen and innovation are the two major strategies people use to create change. Where innovation demands shocking and radical reform, all kaizen asks is that you take small comfortable steps toward improvement."
2. “Ask questions to dispel fear and inspire creativity”
3. “Think small thoughts to develop new skills and habits – without moving a muscle.”
4. “Take small actions that guarantee success.”
5. “Solve small problems even when you are faced with an overwhelming crisis.”
6. “Recognize the small but crucial moments that everyone else ignores.” 

How is this book applicable to our industry?

This book was recommended by Shannon Waller at Strategic Coach during one of our first You x 10 calls. It aligns with the idea of being blinded by the sun or a huge goal. Breaking the goal down into very small steps can make progress more realistic and attainable. 

As we are getting ready for strategic planning it is important to remember that new ideas and seemingly impossible goals should always be encouraged – this is one of the key ways to drive growth. By then breaking the goal down into small steps and defining a reasonable timeline, we can avoid many the small failures that result from fear and feeling overwhelmed. 

I think we have begun to practice this way of thinking more this year. We have taken small steps to improve using the tools that we have and sticking to what we do best. We have shown that identifying small areas for change and following through on those changes can have a large impact. 

Book Report: Getting Naked - A Business Fable About Shredding The Three Fears That Sabotage Client Loyalty

by Erin Cheever, Project Manager, Boomer Consulting, Inc.

Book: Getting Naked - A Business Fable About Shredding The Three Fears That Sabotage Client Loyalty
Author: Patrick Lencioni

Overview

In the book Getting Naked, Patrick Lencioni, through the eyes of consultant Jack Bauer tells the story of how two firms try to merge together with completely different styles of client service. The story explores Bauer’s introduction and first-hand account of naked service that leads to his ultimate understanding and adoption of the successful model. As explained by Lencioni naked service outlines the approach and principles of achieving total client loyalty and trust. His overarching model shows how to become a naked service provider. Simply put, to provide naked service, one must become transparent and vulnerable and display levels of selflessness and humility for the common good of the client. He outlines the three fears companies might face as they evolve into naked consultants and how a company might overcome those fears. By following the mere principles and approaches of the naked service model, Lencioni and his firm The Table Group have achieved un-paralleled client loyalty.

Top Points

1. Fear of Losing the Business – Sometimes going out of your way to avoid your short comings or the truth in order to save face and not lose potential business or clients.
• Principles
• Always consult instead of sell – Demonstrate value; Start treating them like they are a client before they have even signed a contract.
• Give away the business - Work with the client on the cost; be more interested in helping them vs. being concerned about the cost.
• Tell the kind truth - Telling the client the truth even when they might not want to hear it.
• Enter the danger - Don't be afraid to be involved in uncomfortable situations with the client; show them you are OK with dealing with an issue everyone is afraid to deal with.
2. Fear of Being Embarrassed - Never wanting to ask the wrong question or get the wrong answer. Not wanting to be made a fool of. Not wanting to be humiliated in front of a client.
• Principles
• Ask dumb questions – Don’t be afraid to ask questions you don’t know the answers to – the questions others in the room are afraid to ask.
• Make dumb suggestions – Make suggestions that might seem silly or out of left field – sometimes they end up being a great idea and something someone else wanted to present but never did.
• Celebrate your mistakes – Recognize your mistakes and apologize if you are wrong – don’t try to hide this
3. Fear of Feeling Inferior – Feeling less important or less superior in the eyes of the client. Always wanting to reflect a certain level of standing in front of the client.
• Principles
• Take a bullet for the client – To some extent except responsibilities even when it might not be you fault 
• Make everything about the client – Be all about the client; Give them your full attention; Honor them; Understand them;  Let them see how valuable you are on their own
• Honor the client’s work – Take an active interest in your client’s work; Appreciate it – If it is something that you don’t believe in then maybe they aren’t the client for you
• Do the dirty work – Do all the things they need and want to get done – even it is “beneath you”

Admit Your Weaknesses and Limitations (general) – Don’t pretend that you understand and know how to do everything. You often will spend more time figuring out how to do this one thing that you clearly don’t know how to do then focus on your strengths and skills, which in the end will probably hurt your client.

How is this book applicable to our industry?

In a way I feel as those we follow similar parts of the naked service model at Boomer Consulting. We are vulnerable. We are transparent when it comes to who we are and what we offer. Everything we do is always in the best interest of our clients. Never do we go out of our way to tell our clients what they want to hear, but we tell them what they need to hear, even if it isn’t pretty. We bend over backwards to make them happy. We are engaged with clients and with the work (we are always there). We ask questions when we don’t know the answer. We get to know them, we talk to them and we listen to their pains. We follow the principles that lead to great naked service.

Real Process Improvement

Kurt Gödel, famous Austrian-American logician on perspective states, “To understand the system you are in, you have to get outside of it”.  Approximately 10 years ago I traveled to India to learn more about how Indian outsourcing companies refine tax return processing and utilize workflow software.   On my return from that trip I declared it was about workflow and processes, not cheap labor. The Indian’s also referred to Six Sigma and how to focus on driving errors out at the lowest possible level rather than at the manager or partner level as most firms do in the United States.  Today we have workflow software in the United States (from all the major vendors) and firms are focusing on their processes.

Three areas in which the technology has changed, yet most firms continue to utilize outdated processes are: tax return preparation, billing and collections and preparation of reports (financial statements).  A few firms report significant success in this area. However, outside assistance, leadership and change management are key ingredients.  Innovation is only incremental when you put a group of similar thinking people (CPAs) in a room.  Innovation is exponential when done at the intersection of multiple disciplines and perspectives.  WIP and AR should not be a problem in your firm!  If they are, look at your pricing strategies, billing procedures and agreements.  Electronic banking platforms are available to save time, energy and effort in billing and collections.  Different thinking, new processes and leveraging ACH payments can make a significant difference in your firm.  View the Hartmann, Blackmon & Kilgore video on Tax Process Workflow (login required).

Happy Holidays from Boomer Consulting, Inc.

We hope you enjoy a safe and fun holiday season and we wish you a successful 2012.  Our holiday greetings for you can be found here.  If you have a few extra minutes, you can watch the extended (slightly funnier) version here.

As our gift to you, we are offering our Guide to Change Management FREE of charge until the end of the year.

Take Me To The Guide! (Use discount code CMDisc100)

Sincerely,

- The Boomer Consulting, Inc. Staff

Book Report: Brains On Fire

by Sue Thiemann, Director of First Impressions, Boomer Consulting, Inc.

Book: Brains On Fire

Authors: Robbin Phillips, Greg Cordell, Geno Church & Spike Jones

Overview

A very inspiring read, Brains on Fire builds a fantastic case on how to create a movement vs. marketing your firm. Many of the key points have been discussed and followed at BCI.  Brains on Fire is about creating powerful and sustainable movements based on people, peer-to-peer relationships, shared passion… with a few key ignite lessons shared! To clarify and manage expectations, this is not a book about social media; it’s a book about connecting people in communities built around a conversation. Brains on Fire
argument is that 90% of this happens face-to-face, in real life.

Top 5 Points

1. It’s about people.   It comes down to trust. And people don’t trust your company; people trust people.  People they know. People whose opinions and recommendations they seek out and have faith in. The book begins by differentiating between marketing campaigns vs. movements.  Campaigns have a beginning and end. Movements go on as long a kindred spirits are involved. They rely on word of mouth. Campaigns are you talking about yourself.  Movements are others talking about you. Movements are like a volume dial that goes to 11. (10 being the standard maximum.) Campaigns embrace an us-versus-them mentality. Movements say, “We’re all in this together.”
2. The Passion Conversation – It’s passion that separates a sustainable movement from a short-term campaign. Building movements requires us to understand not only what people are saying about your products and services but also how your offerings allow customers to do what they love, or do it better. So find the passion you share with your customers and support it.  It gives your customers a reason to love you that the competition cannot easily supersede, because it’s not about a product feature that can be replicated.
3. Movements have inspirational leadership. Influence can be made but passion cannot. Passion is an intense emotion compelling feeling, enthusiasm or desire for anything and often requiring action. Passion and not influence should be the main driver behind the people companies choose to be internal or external leaders. Passionate leaders re-energize the team over and over.
4. Movements empower people with knowledge. “It's about building community. It is about learning from each other. It is about inspiring people to try something new. It is about friendship.”
5. Traditional branding vs. movements: “The role of traditional branding is to influence behavior. The difference with movements is to inspire behavior. So don’t try to influence; get out of that business. Now is the time to inspire. People don’t want to be influenced.”

How is this book applicable to our industry?

Brains On Fire inspired me to think outside the box in viewing BCI’s services and processes and procedures. I am ready and looking forward to our annual Strategic Planning in December. The testimonials and real life stories were well stated and quite applicable in managing a firm.  Every one of the eleven lessons contained usable key principles and practical advice to apply in every firm.  This would be a very good book for the CEO or Leadership Academy groups. 

Book Report: Rework

by Jon Hubbard, Director of Marketing, Boomer Consulting, Inc.

Book: Rework
Authors: Jason Fried & David Heinemeier

Overview

This book is about a new way to build, run and grow a business. The book is chock-full of ideas, techniques and strategies in the areas of progress, productivity, competitors, hiring and more. The authors, Jason Fried and David Heinemeier, are the founders of 37 Signals and have written this book based on their experience building 37 Signals. Jason and David have done things much different and have challenged the traditional notions of running a successful business. This book is edgy and will make many readers uncomfortable because it challenges “the norm” in almost every area of business.

Top 5 Points

1. Ignore the Real World – The “real world” is a place where new ideas, unfamiliar approaches and foreign concepts always lose. Don’t pay attention to pessimists because the “real world” isn’t a place, it’s an excuse. It’s justification for not trying. For example, 37 signals has a dozen employees in eight cities on two continents.
2. Don’t Be a Workaholic – Workaholism is a real problem in our culture because most people celebrate the idea of working too much.  Fixing problems by throwing sheer hours at them is stupid. “Workaholics aren’t heroes. They don’t save the day, they just use it up. The real hereo is alreadyhome because she figured out a faster way to get things done.”
3. Make a Dent in the Universe – To do great work, you need to feel you are making a difference. You don’t need to be curing cancer but you need to feel that your efforts are valuable. You want to hear your clients say “this makes my life better.” Do you want to have a “me-too” product or service or do you want to shake things up?
4. Make Decisions to Make Progress – You can’t build upon “we’ll decide later” or “let’s think about it” but you can build upon “done”. Don’t wait for the perfect solution to come along. Decide and move forward. Hesitating on making a decision with the hope that a “perfect solution” will come along is toxic.
5. Be a Curator – An art museum is not great because all the best art is on the same wall.  What makes it great is what’s not on the wall.  Be willing to say no to certain projects & opportunities.  This true for processes and procedures, constantly look for things to remove, simplify and streamline. Only allow the best product, service, tool or process to be involved in your company.

How is this book applicable to our industry?

This book contains many (upwards of 85) points that firms should consider.  The point of reading this book is to not duplicate what 37 signals is doing but to learn from their experiences and challenge ourselves and the norms in our industry.  It may be comfortable to keep things as “business an usual” but surprising results may be on the other side if we push the envelope a little.