the:EliteFirm mastery in modern accounting Pillar 6 PLAN workbook 1. Business Model Canvas 2. Documenting your business model 3. Developing your CVP M O D U L E 1 5 - B U S I N E S S M O D E L 4. Competitive advantage 5. Strategy 6. Innovation Contents M O D U L E 1 6 - S T R A T E G Y & I N N O V A T I O N 7. What you haven’t done yet 8. What you need to do 9. 12 month financial plan M O D U L E 1 7 - T H E P L A N Welcome /iˈliːt/ belonging to the most powerful, best-educated, wealthiest or best-trained group in a society ie the best of the best The six workshop dates: Sofitel, London Heathrow 29 Nov 23 Clarity 30 Nov 23 Focus & Capacity 28 Feb 24 Structure 24 Apr 24 Skills 26 Jun 24 Resources 25 Sep 24 Planning Welcome to Workbook 6 of ‘The Elite Firm: Mastery in Modern Accounting,’ where we culminate our journey with a crucial phase—creating a robust, actionable plan. This final module is not the beginning of our process but the pinnacle, where all the knowledge and insights garnered from previous modules coalesce into a strategic blueprint for the future of your firm. Why Plan Last? Traditionally, planning might seem like a starting point, but in our structured journey, it is the keystone. It comes after a deep exploration of systems, culture, resources, and skills to ensure that when we do plan, our strategies are informed, insightful, and infinitely more effective. This approach ensures that the foundation is solid before we architect our future, ensuring our plans are not only visionary but also executable and sustainable. Pillar 6 - Plan Introduction A Continuous Spiral of Improvement Planning within ‘The Elite Firm’ framework is a dynamic, continuous process. It involves crafting the plan, implementing it, monitoring progress, learning from outcomes, and then, crucially, revising the plan. This iterative process might seem to bring us back to the start, but with each cycle, we ascend higher in capability and understanding. What appears as a dot from a close-up reveals itself as a circle from afar, and upon closer inspection, this circle is indeed an upward spiral. Each revolution builds on the last, marking significant progress and growth. Module 15: Business Model In Module 15, we delve into the Business Design Hierarchy and utilize tools like the Business Model Canvas to document and innovate your business model. This module will help you refine your Customer Value Proposition (CVP), ensuring it resonates with your target clients and sets you apart in the marketplace. Module 16: Strategy & Innovation Module 16 focuses on carving out your Competitive Advantage through strategic planning and innovation. Here, we will explore how to not only compete but lead in your field by continuously adapting and innovating your practices and services. Pillar 6 - Plan Introduction Module 17: The Plan Finally, in Module 17, we synthesize all our learning into a tangible, actionable plan. This includes evaluating what has been accomplished and what remains and setting clear, timed objectives for the future. We will also build a comprehensive 12-month financial plan to support your strategic goals, ensuring every step is quantified and accounted for. As we move through this final workbook, remember that the ultimate goal is to equip you with the tools to construct a plan and live it—adapting, evolving, and excelling continuously. This workbook is your map to not just navigating the current landscape but also shaping the terrain that lies ahead. Thank you for your commitment and diligence throughout this program. Let’s embark on this final module with the resolve to not only plan for a future of success but to activate the potential that we have collectively nurtured. Welcome to the culmination of your transformation, where planning meets performance, and visions become reality. Pillar 6 - Plan Introduction The 6 Pillars Pillar 6 - Plan Introduction The 14 Step Plan Clarity of Vision1. Unlocking Potential2. Capacity Creation Toolkit3. Client Mix4. Time Management Systems5. Pricing for Profit6. Engaging Incentives7. Team Mix8. Continuous Improvement9. Winning Environment10. The Firm Playbook11. Repeatable Services12. Competitive Strategy13. Virtuous Circle14. Pillar 6 - Plan Introduction Business Model Engineering Your Firm’s Blueprint In this module, we will explore the core of your firm’s structure—the Business Model. This module is a pivotal part of your journey. It aligns your business practices with strategic and innovative frameworks that set the stage for standout success. Understanding the Business Model within the broader scope of the Business Design Hierarchy is crucial. It positions your model not just as a static structure but as a dynamic blueprint that can evolve with your firm. The Business Model Canvas, a tool we will explore thoroughly, serves as your map for documenting, analyzing, and innovating your business model. This powerful tool breaks down complex aspects of your business into manageable components, making it easier to see where innovation and adjustments can drive growth and enhance value. Pillar 6 - Plan Module 15 We’ll examine influential business models, such as Nespresso and Google, to understand how they revolutionized their respective industries by rethinking how value can be created and delivered. These case studies will not only inspire but also provide practical insights into how disruptive business models can be designed and implemented. An essential part of this module focuses on evaluating and innovating your business model. You’ll learn to critically assess how your current model aligns with your firm’s long-term goals and the ever-changing market landscape. This evaluation is the first step toward meaningful innovation, guiding you to refine and enhance your strategies for a competitive edge. Moreover, we’ll delve into the components of an effective Customer Value Proposition (CVP). You’ll have the opportunity to work hands-on, developing and refining your own CVP. This exercise will ensure that your business model not only meets the current market demands but anticipates future needs, thereby securing your firm’s position as a leader in the industry. By the end of this module, you will have a clearer understanding of how a robust, innovative business model can be the difference maker in building a standout business. And you will be poised to transform your firm’s blueprint into a continuous cycle of growth and innovation. Let’s build a model that not only functions efficiently but excels spectacularly! Business Model Pillar 6 - Plan Module 15 Business Model Chapter 1 Business Model Cavnas Pillar 6 - Plan Workbook Business Design Hierarchy Chapter 1 Business Model Cavnas Pillar 6 - Plan Workbook Business Model Canvas Chapter 1 Business Model Cavnas Pillar 6 - Plan Workbook TT Business Model Chapter 1 Business Model Cavnas Pillar 6 - Plan Workbook Your Business Model is the Difference-Maker Chapter 1 Business Model Cavnas Pillar 6 - Plan Workbook Google Task Avoid writing directly on the canvas Don’t get stuck with blah blah blah Start anywhere Never use bullet points Avoid too much detail, but Be precise for each building block Describe the strategic blueprint of Google's business model for search with the help of the Business Model Canvas. In this exercise you don’t need to go into the details of initiatives such as Android, their mobile phone operating system, or Google Apps, their enterprise offering, which both support their search business. Just sketch out the big picture. Chapter 1 Business Model Cavnas Pillar 6 - Plan Workbook Your Own Business Model Chapter 2 Your Own Business Model Pillar 6 - Plan Workbook Evaluating your Business Model Chapter 2 Your Own Business Model Pillar 6 - Plan Workbook Your Own Business Model Chapter 2 Your Own Business Model Pillar 6 - Plan Workbook What makes a great client? Chapter 3 Customer Value Proposition (CVP) Pillar 6 - Plan Workbook Describe your ideal client Chapter 3 Customer Value Proposition (CVP) Pillar 6 - Plan Workbook What client selection criteria would you use CVP Worksheet Chapter 3 Customer Value Proposition (CVP) Pillar 6 - Plan Workbook Your Own Business Model Pillar 6 - Plan Workbook Chapter 3 Customer Value Proposition (CVP) Strategy & Innovation This module is designed to empower you with the insights and tools necessary to forge a competitive advantage that distinguishes your firm in the marketplace. Strategy is the art of planning your firm’s future success based on market understanding, internal capabilities, and competitive dynamics. Innovation, on the other hand, is the engine that drives change and adaptation within your strategic framework, ensuring your firm remains relevant and ahead of industry curves. In this session, we will discuss the elements of strategy and delve into the process of fostering a culture of innovation within your firm. Innovation isn’t just about new ideas; it’s about turning these ideas into valuable products and services that meet your clients' evolving needs. Throughout this module, you will learn to align your strategic initiatives with innovative outputs, ensuring that every step you take is geared towards enhancing your firm’s value proposition and securing a lasting competitive edge in the accounting industry. Get ready to challenge the status quo, think differently, and re-imagine the future of your firm. Pillar 6 - Plan Module 16 The Importance of Strategy Chapter 4 Competitive Advantage Competitive strategy Write your notes here... Competitive Advantage Write your notes here... Write your notes here... Pillar 6 - Plan Workbook What is strategy? Chapter 5 Strategy Write your notes here... Pillar 6 - Plan Workbook Strategic Options Chapter 5 Strategy Write your notes here... Pillar 6 - Plan Workbook Predictable Success Chapter 5 Strategy Write your notes here... Pillar 6 - Plan Workbook Strategic SWOT Chapter 5 Strategy Pillar 6 - Plan Workbook The next steps 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Chapter 5 Strategy Pillar 6 - Plan Workbook The next steps 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Chapter 5 Strategy Pillar 6 - Plan Workbook Chapter 6 Innovation Pillar 6 - Plan Workbook Your Own Business Model Pillar 6 - Plan Workbook Chapter 6 Innovation The next steps 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Pillar 6 - Plan Workbook Chapter 6 Innovation The next steps 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Pillar 6 - Plan Workbook Chapter 6 Innovation This is the final and crucial segment of our Elite Firm program, aptly titled ‘The Plan.’ Well, except for execution, monitoring, and continuous improvement... It is a virtuous circle, after all! This module is the culmination of all our learning and efforts, where we bring together insights, strategies, and tools from previous sessions to create a comprehensive and actionable plan for your firm’s future. Contrary to traditional approaches, we have positioned planning at the end of our program. This strategic decision ensures that your plan is informed by a deep understanding of every aspect of your business—from your operational systems and team dynamics to your strategic positioning and innovation potential. With this knowledge, your plan will not merely be a document but a dynamic blueprint that propels your firm toward sustained growth and success. In this section, you should document what you have achieved so far and areas that still need attention. This reflection is crucial as it not only highlights your progress but also pinpoints the gaps that could hinder future success. Finally, your homework will be to create a clear who/what/when/plan and a twelve-month financial plan—updated for everything you have learned so far. The Plan Pillar 6 - Plan Module 17 What haven’t you done, yet? Action Who Priority eg Ikigai, Core Values, Core Values Implememtation, The Firm Engine Rooms, The Business System 1-5 Chapter 7 Pillar 6 - Plan Workbook What haven’t you done, yet? Action Who Priority eg Ikigai, Core Values, Core Values Implememtation, The Firm Engine Rooms, The Business System 1-5 Chapter 7 Pillar 6 - Plan Workbook What do you really need to do? Action Who Priority eg Ikigai, Core Values, Core Values Implememtation, The Firm Engine Rooms, The Business System 1-5 Chapter 8 Pillar 6 - Plan Workbook What do you really need to do? Action Who Priority eg Ikigai, Core Values, Core Values Implememtation, The Firm Engine Rooms, The Business System 1-5 Chapter 8 Pillar 6 - Plan Workbook Homework Chapter 9 Financial Plan Create the plan! Pillar 6 - Plan Workbook Bonus Chapter One Page Plan Pillar 6 - Plan Workbook Conclusion As we draw this final chapter of our Elite Firm program to a close, we reflect on a journey that has been both enlightening and transformative. Over the course of these past 12 months, we have delved into the multifaceted aspects of running an elite accounting firm—from the granular details of internal processes to the broad strategic maneuvers that define market leaders. After today, we hope you build a plan (both action and financial) that will tie all our previous discussions into a coherent strategy, a roadmap that will be both a testament to your hard work and a beacon for your future endeavors. As we have seen, a plan is never static; it’s a living document, continually evolving as you apply new insights and face fresh challenges. It’s this process of ongoing refinement and adaptation that ensures your firm isn’t just keeping pace with change but driving it. Throughout our sessions, we have covered critical areas such as creating engaging incentives in Module 9, fostering a winning environment in Module 13, and establishing repeatable systems in Module 14. Each module has built on the last, layering knowledge and skills that culminate in the robust business model and strategic plan we have crafted together. It’s a never ending story! Pillar 6 - Plan The End This program has not only equipped you with the tools to excel but has also embedded a philosophy of continuous improvement and strategic thinking. The Elite Firm program is designed to be cyclical, much like the plans you’ve developed. What might seem like the endpoint is merely the beginning of another cycle of growth and refinement. As you step forward, remember that each iteration of your plan, each revision of your strategy, is a step up in the spiral of business excellence. You’re not merely returning to where you started; you are arriving there with more experience, sharper insights, and a clearer vision. For those who have found this journey transformative and wish to dive deeper, we invite you to join us again next year. The next iteration of the Elite Firm program promises to be even more enriching as we expand on what we’ve built and introduce new concepts and strategies that respond to an ever-evolving business landscape. Thank you for your commitment, insights, and willingness to challenge the status quo. The progress each of you has made is a testament to the power of dedication and strategic action. We look forward to seeing the remarkable achievements you will continue to make and hope to welcome many of you back next year, ready to do it all again—only bigger and better. Until then, keep planning, keep innovating, and keep leading your firm to new heights. The future is not just something you enter; it’s something you create, and we are excited to see the worlds you will build. Pillar 6 - Plan The End