Poor financial performance in a practice usually means someone or more than one person is unhappy.  And this can only get worse before it gets better.  By giving a nod to improvement needed, the partners can draw a line under poor results and start down the path of getting it right.  From our experience, in some cases, you need to be ripping off the Band-Aid and not just putting another on because -

1. Partner meetings are probably going around in circles or a perhaps a waste of time. Not completely, but certainly in terms of lifting practice performance.
2. Keeping everyone happy is not going to get you the results you want. If the relationships are truly in sync, then the criticism will be directed at the issue and not the person, unless of course the person is the issue.
3. As business owners, partners are entitled to get a return of profit that justifies the risk taken and effort required. Going year after year making “wages” is not a just return.
4. Profitabilty is not just feeding partner drawings. It feeds investment.  With technology changing at a rate of knots, partners need to continue investing in the practice for a number of reasons – lifting efficiency, creating new services, meeting new client needs, giving staff a modern environment that enables them to grow, ensuring the practice is something that reflects the partners’ view of a fantastic business.

So said Alice in Wonderland.  In measuring practice performance, there are many aspects that have indeed not changed.  At the same time, new drivers mean that the emphasis on other aspects has changed a lot.  Here’s how we can help you lift performance at your practice:

1. Most practices have lots of data. It just may be the data isn’t being looked at in enough detail.  We work with your team to obtain the data and provide you with the insights we think are helpful.
2. The data will tell a story. This will mean a conversation about what the data is telling us and opening up to what changes might help improve the outcomes.
3. Pricing, charge rates, productivity and team structures are all on the table.
4. Client history and client groups can provide some interesting insights.
5. A review of common and key processes is undertaken.
6. An overview of your current technology platforms is reviewed.
7. All of the above data and insights will generate lots of discussion and bring to the surface some obvious areas for improvement.

From being an owner in a 2-partner 35-strong practice through to being a partner in a Business services division turning over more than $15m and to being National Head, Business Advisory across 32 business units, Peter is able to hold conversations with partners based on your numbers and from a background of significant experience.

The scope and shape of how we help depends on you.   A proposal and quote is provided once the scope is agreed.