After 5 wonderful years of working exclusively for one financial services organisation, I’ve branched out into the broader market.
With two other colleagues, Sharon McClafferty and Brenton Ward, I have created Slipstream Coaching, a company which is dedicated to assisting accounting and financial planning firms reach their potential.
In due course I will be posting more about Slipstream but for now, here’s a link to a recent article which appeared in the Financial Observer: http://www.financialobserver.com.au/articles/slipstream-group-coaching-bridges-gap?A=WebApp&CCID=19099&Page=2&Items=2 

Befriending the Dragon

Picture the following scenarios in your busy day.

• You have squeezed in an important client who has some urgent matters requiring attention. What needs to be done, whilst clear in your head, needs to be converted into a set of instructions quickly as the next client is moments away.

• Happy days! Your social media activity has generated an incredible opportunity - a journalist from the Financial Review has sent you six questions in relation to an article she is filing today. Answers within the next hour please.

• A new client (an engineer!) is looking for more detail regarding the advice you provided yesterday. However it’s 5 PM and you are due home by 6.15 to collect the family before going on to a school performance.

Or think about any number of situations where time is at a premium and your fingers just can’t go quick enough.

No matter how fast you can type, I guarantee you can speak many times faster.

Time to embrace technology and dictate!

Regardless of whether it’s inputting into Word, email or your CRM the best kept secret is that you can talk directly into your computer, with your words instantly appearing on the screen in front of you.

There is no particular skill involved and the accuracy is excellent, meaning you can power through the work. All this with inexpensive software which has been performing for years.

To get with the program, check out Dragon Dictate at www. http://australia.nuance.com/dragon.

 Disclosure: Since 2006, the author’s extensive use of Dragon Dictate has assisted with the completion of an MBA, three books and more file notes than he cares to contemplate.

$2.19 - so you think you’re special

Take a walk amongst your all-time favourite music - whatever takes your fancy.

Think about the magic that you associate with the first time you heard a certain song – what you were doing, who you were with and where you were.

When you hear the opening bars of a special tune, think about how great you feel and where the music transports you.

For me, it’s a random assortment of artists over the ages - Hendrix, Blondie, Springsteen, Missy Higgins, Dean Ray. Say what you like about my eclectic taste but at least in my mind, there’s something special there.

Now take out my really odd selection and put in your own. Think about those really special moments in music which have absolute significance to you and your personal history.

Now go and purchase it.

It’s so easy these days. On iTunes if it’s not $1.69 per song, the most you will likely pay is $2.19.

That’s all it will cost you for the absolute cream of musical talent and creativity. For the incredible genius that’s gone into the song writing, the music composition, the artistry of the musicians and the technical wizardry of the production team - that’s the grand sum of what you will pay.

Courtesy of digital technology and the internet, all these elements have been reduced to a click-based transaction and a very impersonal one at that.

What’s more, as much as I like hearing any particular song, for another $10 I can buy a bunch of other tracks.

Now let’s apply this to what you do.

As an accountant, what’s your tax return worth? Is it as good, relatively speaking, as Jimi Hendrix’s “All along the Watch Tower” or as distinctive as The Beatles’ “Let it Be?” Will it stir the emotions as much as Bob Dylan’s “Hurricane”?

As a lawyer, what value do you add to a conveyance? Or at least, what value do you provide that someone down the road (or in the Philippines) won’t do for a cheaper price?

As a financial planner, why should clients choose your service over an internet transaction?

It’s my view that professions which have thought themselves protected from competition, who have clung to “personal service” as their differentiator and increased their prices as a matter of course are in for a rude shock because consumers who buy over the internet won’t stop at goods. They will be increasingly open to buying services over the net as well.

It’s an area that I’ve been applying my mind to this year. In fact, I’ve formulated the outline of a new writing project with the working title Overcoming the Sea of Sameness. As I encounter yet another professional services website consisting of bullet point lists of services, tired old photos and CV’s that merely list qualifications that every competitor has, I become more and more convinced that this is needed.

In the year ahead, I’m going to be exploring this in more detail. What are you going to be doing in your business?

My vision for financial services in Australia

Ahead of launching my new book, Partnering with Accountants, I’d like to lay out some thoughts regarding financial services. It’s always been the case that most people are under-insured. Many don’t have enough savings to live comfortably in retirement. And there’s a great deal of uncertainty about the future.

Sure, if we can get it right, legislation has a role to play but resolution needs to go much further.

The remedy for this situation must be the provision of good, solid, dependable financial advice to more people. In my experience, this is where you get an accountant, a financial planner and client together in the same room, with a whiteboard. Quite simply, good things happen when these elements come together. I’m convinced that if enough of these conversations happen around the country then the wealth of the Nation will increase considerably.

For this to occur, accountants and financial planners need to be on the same page. For too long these two professions have not been on the same page, let alone productively working together. In order for successful collaboration to occur, both sides need to be more informed about one another and to have better paths to follow.

I hope that this new book will provide financial advisers with the knowledge, confidence and processes to vastly improve their interactions with accountants.

Where are you putting your efforts?
It’s around this time of the year that attention turns to le Tour, with all the drama, excitement, scenery and helicopter views of ancient castles that accompanies this grand event.
Inevitably, there are crashes both major and minor, with the worst of these making one wince from half a world away.
Have you noticed that should one of the riders come down, there is never any shortage of people who run to the rescue?
Funny thing is though that invariably the rescuer’s first instinct is not to administer aid to the poor old rider sprayed all over the road. Instead, the reaction is to pick up the poor fellow’s bike!
Sure, it’s probably a $10,000 machine but the rider would be on an annual salary of 10 to 50 times that amount. Besides which, it’s a living human being that’s just been smashed to the ground, whilst the bike is readily replaced from the selection on the roof of the team car.
Got me thinking….when we go dashing into a situation, are we actively helping to come up with a solution or are we directing attention into areas that simply aren’t important?
Food for thought!

From the coach’s desk turned 3 today!

Another milestone for this journal, following closely on from the 50th posting. Tumblr was good enough to tell me about this anniversary. Takes me back to the days when the website was still in formulation stage, my “Scott the Author” Facebook page hadn’t yet come into being and I likely hadn’t hit 500 contacts on Linked In. Nice to think that all this has come together. As much as I’ve done though, there is more to be done.

Certainly, I’m looking forward to the pending release of Book #3, “Partnering with Accountants” in coming weeks. That will be the catalyst for some new pages and content. Also, keep an eye out for the new “Where are they now?” series, featuring clients from a while ago and what they have achieved - it will make for fascinating reading.

Thanks for your interest in these entries.

How to make a block of ice memorable

One of the thoughts mulling around in my mind as I left for an extended holiday was overcoming the “Sea of Sameness” in professional practices. So many websites for example that I review feature the same bullet points and the same undertakings of personal service.
With a clear mind and a chance to reflect, I saw a range of businesses which do something special. Since I’ve been back, I’ve come up with no less than 11 categories, which has given me fuel to put together a strategy document on the topic. In fact, I’m thinking about a colourful eBook, complete with photos and scanned images of examples - the creative author in me is keen to get cracking on this project!
Here’s an example of what I’ve observed, with this photo being taken on a glacier - a big block of ice. All around was ice, snow, cloud - basically there wasn’t much to see. But into the frame comes a solitary flag, which attracted the tourists like bees to a honey pot. The cost of putting the flag there for everyone to see - next to nothing. The value to people to include in their photos to take home - massive.
So, if the addition of something so simple can make a block of ice memorable, it makes one think about how a business could be made to stand up from the crowd.
Watch this space for more exploration of this issue!

50 posts!

Who knew that my blog platform kept track of my entries? All I can say is that getting to 50 has been a matter of habit. I’ve enjoyed the challenge of thinking about what I do, places I’ve been and generally what my influences have been….then writing about them.
Something I’ve also enjoyed is posting up an image, preferably one of my photos, to bring the article to life.
Thanks for being a reader of this blog. Nice to think that others get benefit from these musings.

The role of wise owls. Visitors to my website and many others with whom I interact will know that I am in the process of putting out my third book.
Whilst it may seem a straight forward task to the outside world, as I've gone through the process twice before, the reality has been quite different. To be perfectly frank, at times the project has been overwhelming. I’ve taken on a subject which has defied many others, plus I had so many ideas and insights to include that it was hard to keep track. As the pages mounted up, my sense of direction started to elude me.
Enter Andrew Griffiths, himself a successful author. Through the KPI Program, I’ve had access to Andrew as a mentor. To his eternal credit, Andrew has held nothing back, imparting everything he’s learned about the book business. Andrew’s tips in developing a framework were really helpful in finally getting a very large manuscript into a logical order. More than this though, his friendly enthusiasm has been a shining light of encouragement. At certain times when I’ve been flagging, this has been great. And I’ve really appreciated that Andrew gave my overriding book concept his due consideration and pronounced that I was on the right track.
As bit by bit I get closer to the finished article, I’ve appreciated Andrew’s input all the more.
All this got me thinking. What other goals that I want to achieve are there where I would benefit from reaching out and seeking assistance? Indeed, who could I provide the same level of assistance to? It would be nice to think I will assist others in the way Andrew has helped me.
It’s all a bit scary though how Andrew keeps talking so enthusiastically about planning the next book…

Just back in Australia after a sensational, extended holiday in North America.
Before leaving, I was formulating ideas based around my observation that most professional service firms are “swimming in a sea of sameness”.
During my travels, it was interesting to see what a range of businesses do to tell their story and help customers appreciate the points of difference.
The logo you see above relates to a very special chocolate shop we stumbled across in Brooklyn. Not only does the shop provide a range of special chocolates and drinks but there was genuine warmth to the hospitality which we received.
I’ll be writing more about overcoming this “sea of sameness” in coming weeks. In doing so, I shall be drawing upon some of the places encountered and people met during my holiday - Salty’s Seafood Grill (Seattle), La Fudgerie Boutique (Quebec) and Randy - “Concierge Extraordinaire” - in Vancouver.
Stay tuned!

“Sorry I’m late. Stuck in traffic”.

There’s a strange phenomenon I’ve noticed over the years I’ve been running workshops, coaching meetings and other events.
It’s this.
The people who have the furthest distance to travel are the first to arrive. Sometimes these attendees have had to get up at 4AM, in time to catch a plane. Or they have come in the night before and incurred the expense of a night’s accommodation. From there they have had to wait in line, negotiate new streets, catch unfamiliar public transport, find a new location and get through security systems of the like they have not seen before. Yet, there they are. Politely, patiently waiting for the locals to arrive.
Then in they come. The people who live in the city, who even work in the same building. Sometimes they arrive a couple of minutes before we are due to start. More often than not, it’s after the scheduled time. Looking harassed and announcing to no one in particular “SILSIT”. Well, actually they don’t say that - they give it the full name of “Sorry I’m late. Stuck in traffic”.
Well excuse me.
You live here. Did you not know how long it takes to get here? Did you not make a calculation as to what time you would need to set out? Would you not factor in a buffer time of 10 minutes? And, if you were running late, was it absolutely critical to stop for that takeaway coffee?
And excuse me again.
I’m ready to go, I’ve got up early too. To make sure I’ve got everything organised. So that we can start on time. Please spare me details of the particular intersection where you lost all that time. Please don’t engage other locals in a dissection of the day’s traffic flow.
Let’s just get down to business and have a productive day together.

Time to recharge

After an exhilarating, exhausting five and a half years it’s time to take a break.

By my calculations during this time there have been well over 100 group coaching sessions, nearly that number of group dinners, three conferences I’ve played a major hand in developing, various webinars and numerous presentations. I’ve written and revised websites. There’s been the book trilogy too - what an epic journey that has been - along with book launches, learning about the book business and promoting the books as part of an author’s extended set of responsibilities. Without doubt, I’ve grown enormously as a coach and become a more capable business person.

However, if I’ve learnt anything it’s that there is more to life than doggedly pursuing work-related issues.

This time in a month, I’ll be setting off for a 7 week tour of the USA and Canada. Why? Because it’s time to balance the ledger. I’m giving myself permission to enjoy, unwind and simply go with the flow. I will open myself up to new experiences, making new friends and indulging in the sheer pleasure of photographing magic moments.

I am going to do this happy in the knowledge that competent colleagues will handle what they can whilst I’m away. The rest can simply wait until my return. The things I will remember from this 7 weeks will not be the loose ends back at the office but the new discoveries, scenes and experiences from the other side of the world.

Counting down the days!

I’m pleased to advise that Epilepsy Queensland will be a beneficiary of my new book, “Partnering with Accountants”. I intend to donate $1 for every book sold to this very worthy cause.

Saw this the other day and found it inspiring. Have to say that I love a challenge! It gets the creative juices going, gives one focus and a sense of accomplishment when ultimately successful.
Having been a long term lifter of weights in the gym, this photo has particular significance. There’s something about the process of carefully applying one’s hands to the barbell and getting set which causes all other thoughts to be put to one side. Focus, then lift!

Every so often, it’s good to put oneself out of the comfort zone and embark on a formal improvement process.
For me, there’s been plenty of instances in the past - the Accountants Boot Camp, my MBA and a financial planning program.
Lately, I’ve been engrossed with the 40 week program conducted by KPI. I’ve found it really beneficial on many levels.
If you are interested in knowing more, here’s the link: http://keypersonofinfluence.com.au/

Every so often a day comes along which represents a great milestone. For me, this moment marked the happy occasion of reaching 500 sales of my book “Your Professional Headspace”. Sure, that’s good to know personally but the occasion was made special by honouring my pledge of $2 for each book sold to go towards the QUT Learning Potential Fund. The purpose of the Fund is to assist financially disadvantaged students complete their education. Here I am with Nadeyn Barbieri accepting the cheque on behalf of the Fund.

I love listening to Jim Stackpool speak. Jim is an inspiring thought leader in the field of financial services. Jim also runs a program for planners who want to run an advice based business.

At a conference I attended recently, Jim shared some of the outcomes participants in the program are achieving. One statistic in particular caught my attention. Typically, principals in these firms increase their client facing time, from under 20% in many cases to an average of 60%. The number of new client engagements is up and profits are up. Non-client duties have been reassigned - as Jim says, “If you are tied up in admin, you won’t have the confidence to charge big fees”.

So, in line with my own research and observations that most professionals in practice are much more comfortable undertaking client facing work, there is a clear link - do more of the work you love … and make more money!

So, here’s a key performance indicator to start tracking in earnest – hours you spend with your core clients. Alternatively track this as a percentage of your total time.

As a postscript to this entity, another speaker at the same gathering was Larry Fingleson. Larry is the managing director of Priority Planners, an impressive financial advisory business based in Sydney. Larry is also an astute business person and a very perceptive judge of business strategy. Take a moment to reflect upon Larry’s question for professionals in practice - “Do you want to be an adviser or a business person?” There is no right or wrong answer to Larry’s question but clarity on this issue will help you achieve more great days at the office.

Vale Joe Weider, passing away this week, aged 93.

Joe is the man I credit with bringing resistance training into the mainstream. Not only that but Joe was a massive advocate for sound diet and regular exercise. It’s fair to say that many of the methods he advocated and techniques he pioneered have since been adopted by sportsmen and women and a large number of others.

Unfortunately, I never got to meet Joe personally. But I was a regular reader of his editorial column in “Muscle and Fitness” magazine over the years. It was through Joe I learned (some 20 years ago) of the promising links being made by researchers between weight training and preventing Alzheimer’s disease. It was also Joe who made me aware of the incredible benefits of weight training for the elderly in preventing muscle wastage and the falls which often accompany this.

For me, Joe’s message was so compelling that I organised my life to include regular sessions at the gym, pumping iron. I’m pleased to say that I’ve been doing this for 27 years - over half my life. I look better, feel better and have more energy as a result.

So thanks for everything Joe. Whilst you will be missed, your profound message will live on.

How High is High?
Presented a new learning module to my Excelsior coaching group last Friday, on Sales Management. Under the theme of “How High is High?” we looked at some examples of professional services firms which are very successful in this area. Interwoven into the theme of challenging existing practices and expectations was a series of “aerial surfing” photos. Some great discussion featured throughout the discussion, with the primary action point arising being participants reflecting on what their role in their respective firms should be - Sales, Sales Management or Delivery.