A Great Day at the Office

From my desk

Several years ago I was undertaking one-on-one consultations with the working owners of accounting firms to supplement a group coaching program. Call it a coach’s instincts if you will, but I started asking this seemingly simple question – “What for you is a great day at the office?"

The results were really quite profound. So much so that a discussion on this topic occupies an entire chapter within my book, Your Professional Headspace. 

The conclusion I reached is that for a professional services firm to be operating at optimal levels, the working owners must be happily and productively engaged in activities they love to do. Ideally, this extends throughout the firm, resulting in a professional environment which is positively glowing with enthusiasm, energy and financial success.

I am utterly convinced that the drudgery, painful moments and boredom that befalls practitioners in the latter part of their careers is totally avoidable. This is the time to build on foundations established over previous years and enjoy one's career as never before!

I will continue my research into this area and hope that ultimately having a great day at the office makes a permanent improvement to the life of practitioners around the world. 

Please bookmark www.greatdayattheoffice.com in your internet search engine and join in this movement.

Scott
29 October 2011
 

Insights and outcomes from 'Great Day at the Office'

Here are two very personal accounts from principals of professional practices. The first is paraphrased from a “Let’s do Lunch” discussion session centred upon Your Professional Headspace.  The second is an e-mail received from a reader of this book.

I came to the realisation the only work I like is when I am in front of clients and prospects. All the follow-up activity post the meetings, preparing statements of advice and attending to client-related paperwork was dragging me down. I shared this with a colleague in my firm who expressed a completely opposite set of preferences. Problem solved! We now have re-allocated our work responsibilities to do the work we each prefer. In doing so we complement one another perfectly. Financial planner, Brisbane.

I just wanted to let you know that I took the whole day off work today away from the office and barrage of emails and phone calls to quietly sit and read your new book. I have literally just read it from cover to cover and wanted to immediately pass on my congratulations to you for such an excellent read. I found myself relating to every chapter as, I laid my own personal cameo over each topic and I now have a rejuvenated optimism for returning to the office tomorrow. I now have a list of action points for my return to the office tomorrow and its going to be a “Great Day At The Office” from now on. Jason Skinner, Skinner Hamilton Accountants and Business Consultants.

 

Your next team member
 

Take a few moments out from your busy day and allow yourself the luxury of thinking about a dream employee just about to start work for you.

Here are some prompters to get you started.
 

1. What are thecharacteristics this person would have? Don’t think only in terms of qualifications and experience. Think about attitude, values and the ability to be an outstanding ambassador for the firm.
2. What tasks would this person take on? In turn, how would this free you up and what would be the value you would thereby create? Think broadly – what are the big picture projects and opportunities that really need more of your attention?
3. What would be the KPI's by which you would measure progress, determine an appropriate bonus and set remuneration increases? Happily, if someone is adding value to the firm then paying him/her well can clearly be cost-justified.
4. How would foster their development? Doubtless the person you have in mind would be keen to take on new responsibilities so it makes sense to invest in growing his/her capability.
5. What would be the starting remuneration? Clearly you will need to pay well to attract the right calibre person but with the difference this person will make to you and the firm, clearly you can afford to meet the market.
6. Also, how else will you get the best out of this team member? Attendance at conferences, business coaching sessions, strategy meetings and promotional activities all help to develop an employee into a well performing team member.

Often in professional practice the temptation is to load oneself up with all sorts of tasks. Initially the thinking is that you will do this for a while, until such time as you get on top of things. Yet what starts as temporary rapidly becomes the norm. Practice principals are busy doing all kinds of “stuff” that drags them away from client facing time. Worse, this “stuff” reduces the inclination to actually take on the strategic projects which are necessary for the firm’s advancement.
So step back and look at the business case you have just mapped out for taking on a new team member. You now have a clear sense of what you need and who you are looking for. Importantly, you have also identified some exciting possibilities as a consequence from freeing yourself up. With a fresh spring in your step and someone to help you on your way, a world of fresh possibilities awaits. It’s time to recruit. 

 

Your GDATO checklist

This is an abridged version of the checklist which appears in Chapter 5 of Your Professional Headspace.

Focus
Don't try to cover all the bases. Focus on work you enjoy and are good at.

Be real
Do you have management talent or would you be better off spending more time working with clients (that you like)?

Specialise
Find a service niche that enables you to work in areas that fascinate you. 

Articulate 
Tell others about your talent. There are lots of great ways to do this – presentations, websites, blogs, articles, newsletters, e-mail, personal referral, and business networks. 

Let go
Jot down six tasks/professional responsibilities that you don’t enjoy. Come up with a plan to engineer these out of your life. Do this today and repeat at regular intervals.

Be passionate
It's great to be really enthused about a particular subject. Your passion will attract others and sustain you.

Articulate
Tell others about your talent - presentations, website, blog, articles, networks.

Look for Opportunities
Look for opportunities to utilise your skills. Interestingly, the more you focus on developing your professional interests, the more opportunities open up to you in these areas.

Delegate, delegate, delegate
Work with others who have complementary skills. This enables you to focus on what you are good at.
 

Some thoughts from others on having a great day at the office

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.

May 2013

Looking after yourself

Having a great day at the office entails being physicaly and mentally up for the challenge. Recently, I was interviewed by a financial services journalist on the subject of getting enough sleep. The interview formed part of a recently published article, which appeared in the June 2014 edition of "Financial Planning", the journal of the Financial Planning Association.

June 2014