Getting the Right Feng Shui for Your Business Model
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1 Getting the Right Feng Shui for Your Business Model Blake Willis Greg Fowler
2 Learning Objectives Discuss methods to increase a firm s selfawareness How to analyze different business models and their attributes Options for business processing
3 Firm Self-Awareness Variety of tools available to assist you Must be willing to ask questions receive feedback Goal: understand what you are and are not
4
5 Self-Awareness Tools Surveys Clients Advisors Employees Annual / event based SurveyMonkey is a great inexpensive tool can also use survey applications that integrate with your CRM for ease of use
6
7 Self-Awareness Tools SWOT Analysis Outside mentor Advisory Board No list review/update annually Result: Update Strategic Plan and share with employees
8 Multiple Choice question to insert from PollEverywhere Question: What type of business model are you using in your company? Insource Outsource Combination / Other
9 Outsource vs Insource Insource may be best if you: Special / Customized Processes Rely on Paper / Files Close Office Staff Low / Medium Wage Staff Firm Not Looking to Grow Comfortable Profit Margin Easy to Hire and Retain EE s Outsource may be best if you: Live Deadline to Deadline Staff Feels Overworked Standardize Processes Paperless Office / Strong Reliance on Technology Use of Remote Staff Medium / High Wage Staff Firm Looking to Grow Thin Profit Margin Difficult to Hire and Retain EE s
10 Insourcing What is it? Factors to consider Maintain control close contact Training on-the-job training easier with peers Must be able to hire sufficient staff Can be limiting in a high growth year Employees feel valued growth opportunities
11 Outsourcing Two Outsourcing Models Own Firm / Employees Setup Cost / Time Management / Oversight Hire Outsourcing Firm Less Control Can be Hired Per Project or Per Employee Hire as Needed (Deadlines, Acquisition, Growth, Staff Terminations)
12 Outsourcing Important to Manage Possible Impacts on Staff Positives (Employee Satisfaction) Additional support for deadline Employees can use knowledge to serve clients Ability to lead and teach others Negatives (Fear) Losing job Communication barrier Unknown
13 Open Ended Question on PollEverywhere Question: What % of staff is remote?
14
15 Remote Workforce Technology Considerations Computer virtual machine (thin client) versus laptop / desktop at their remote location Security printing / shredder / secured workspace Strong internet connection test it Video Conferencing tools Skype for Business / Google Hangouts
16 Remote Workforce Operational Considerations Which roles Make sure metrics are in place before sending them home Front line versus back office Trial period allows both EE and ER to discuss how it is going Mom-sourcing Don t lose good talent, but must be flexible
17 Human Resources Remote Workforce Need to handle payroll in different states Experience has shown a variety of unique rules in different states Culture / Connectivity how to keep employees feeling part of the main office Have Remote Work Policy
18 Remote Workforce Guidelines / Suggestions Set work hours understood by both parties Set communication guidelines response times Understand how long the work takes to get done Measure and report Foster team spirit
19 Bundled vs Unbundled Unbundled Considerations: Market Limitations Independence Role (Professional Bundled) Lower Risks / Costs Reliance on Partners Partner Referrals Bundled Considerations: Market Direction Requests from Advisors Higher Cost / Technology Higher Revenue Greater Control of Process Build Relationships vs Referred Relationships
20 Business Processing Workflow is a requirement Communication strategy Paperless Access to data Your company experience differentiator how it does come through? value statement
21 No One Size Fits All
22 Closing Thoughts Learn from others experiences Value of ASPPA Annual isn t just the content, but network and learn from peers Be willing to think outside the box
23 Our Challenge
24
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