The Wize Way

Episode 54: Understanding the Context of ‘No Bypass Policy’ for Your Accounting Team Structure

In this episode of The Wize Guys Podcast, Brenton Ward, Jamie Johns, and Ed Chan share their insights about the need for a discovery session for every accounting practice.

To find out how to ensure that you are not a prisoner in your own business, Ed and Jamie will give a thorough outline of how you can start to design or redesign your business to achieve the ROI of your end goals.

Timestamps:

0:00 - Intro

0:52 - Understanding the ‘No Bypass Policy’ 

1:24 - How body-system reporting works

2:03 - Why structure is related to your internal processes

2:24 - The importance of delegation and a hierarchical system.

4:29 - How to empower your team

Quotations:

“One of the most important things in a deeper narrow team structure, particularly with practice firm owners looking to implement it is the No-bypass policy because the deeper narrow team structure doesn't really work without the No-bypass policy.” - Jamie Johns

"If you want them to take more responsibility, stop undermining them." - Ed Chan

USEFUL LINKS:

• Download FREE eBook: The Accountant's 7-Hour Workweek Playbook

GET IN TOUCH!

Website: www.wizementoring.com

Facebook: https://www.facebook.com/wizementoring/

Twitter: https://twitter.com/wizementoring

Linkedin: https://www.linkedin.com/company/wizementoring/

Instagram: https://www.instagram.com/wize.guys/?hl=en

Email: [email protected]

Download the full transcript here.

________________  

PS: Whenever you’re ready… here are the fastest 4 ways we can help you fix and grow your accounting firm:  

 1. Download our famous Wize Freedom Map for FREE - Find out the 101 projects every firm owner must implement to build a $5M+ firm that can run without them - Download here 

2. Need to hire right now? Book a 1:1 FREE discovery call with our WizeTalent hiring coaches to help find your next team member the Wize Way – Click Here 

3. Work with Jamie and our mentors for 8 weeks - Build a custom business plan for your firm - Apply here

Episode 53: Why use NPS for staff and clients

What you want is a healthy business. You want the staff to be happy. You want the clients to be happy. And you want all your numbers, your sales profits, and new clients coming through trending upwards.

In this episode of The Wize Guys Podcast, Ed Chan and Jamie Johns together with one of the Wize Mentors, Tim Causbrook discusses why it is important to use NPS for staff and clients and how this affects the clients and how will this help with customer satisfaction and service improvement.

Timestamps:

0:00 - Intro

0:35 - Understanding the concept of having the Net Promoter Score (NPS) in your firm

2:06 - What is an ethical letter?

2:31 - The importance of using NPS for your staff and clients

8:54 - How does NPS affect you and the clients 

10:28 - What to do if your clients are not happy?

12:21 - Tips for managing client expectations

13:51 - Some NPS software applications to use

14:32 - What is the ideal time to send NPS

16:58 - How to take action

Quotations:

“We should be embracing continuous improvement because you won’t know what you need to improve unless you ask and get some feedback.” - Ed Chan

“Problems in any business happen, it doesn’t matter what business you are, and research has found it’s how you respond to the problem.” - Jamie Johns

“You talk to the client and you get a 10, you don't talk to the client, you get a 4. I mean that's really all it is.” - Tim Causbrook

USEFUL LINKS:

• Download FREE eBook: The Accountant's 7-Hour Workweek Playbook

GET IN TOUCH!

Website: www.wizementoring.com

Facebook: https://www.facebook.com/wizementoring/

Twitter: https://twitter.com/wizementoring

Linkedin: https://www.linkedin.com/company/wizementoring/

Instagram: https://www.instagram.com/wize.guys/?hl=en

Email: [email protected]

Download the full transcript here.

________________  

PS: Whenever you’re ready… here are the fastest 4 ways we can help you fix and grow your accounting firm:  

 1. Download our famous Wize Freedom Map for FREE - Find out the 101 projects every firm owner must implement to build a $5M+ firm that can run without them - Download here 

2. Need to hire right now? Book a 1:1 FREE discovery call with our WizeTalent hiring coaches to help find your next team member the Wize Way – Click Here 

3. Work with Jamie and our mentors for 8 weeks - Build a custom business plan for your firm - Apply here

Episode 52: Wize Factor Chat: Jennifer Hickey - TaxStore

“Time is so precious… Our time is something that nobody can change. Everybody gets the same amount of time, but it's what we choose to do with that every day.”

In this episode of The Wize Guys Podcast pilots its WizeFactorChat with one of the WizeTribe members, Jennifer Hickey is a successful accountant and the owner of an accounting and bookkeeping firm business, the TaxStore Mackay in Queensland, Australia.

Today, Jennifer talks about her experience with Wize Mentoring programs and how investing in herself personally was a turning point in her life and business. She highlights some of the Wize Philosophies: no-blame culture, deep and narrow teams, tech stack, and leadership training that helped her achieve success and continue to improve her business.

Tune in to this inspiring episode to learn more about Jennifer’s success story, Wize’s impact on her life, and everything she has gone through to have her business run without her!

Timestamps:

0:00 - Intro

0:35 - Jennifer’s Wize journey

11:50 - How Wize Philosophies has helped Jennifer

15:39 - Listen to Jennifer’s Wize words

USEFUL LINKS:

• Get exclusive and early bird access to WizeHub! The ultimate business intelligence software for growing accounting firms of any size:  https://www.wizementoring.com/wizehub-offer/
• Join the WizeTribe community: https://www.facebook.com/groups/wizemastermind

GET IN TOUCH!

Website: www.wizementoring.com

Facebook: https://www.facebook.com/wizementoring/

Twitter: https://twitter.com/wizementoring

Linkedin: https://www.linkedin.com/company/wizementoring/

Instagram: https://www.instagram.com/wize.guys/?hl=en

Email: [email protected]

Download the full transcript here.

________________  

PS: Whenever you’re ready… here are the fastest 4 ways we can help you fix and grow your accounting firm:  

 1. Download our famous Wize Freedom Map for FREE - Find out the 101 projects every firm owner must implement to build a $5M+ firm that can run without them - Download here 

2. Need to hire right now? Book a 1:1 FREE discovery call with our WizeTalent hiring coaches to help find your next team member the Wize Way – Click Here 

3. Work with Jamie and our mentors for 8 weeks - Build a custom business plan for your firm - Apply here

Episode 51: Are you working IN your business? or ON your business? - overcoming the barriers to growth and implementing the Wize 7-Division Org Chart

The only difference between some people’s journey is that some people are able to transition from changing the way they think.

In this episode of The Wize Guys Podcast, Ed Chan and Jamie Johns, together with one of the Wize Mentors, Thomas Sphabmixay discuss the importance of working ON your business rather than IN your business.

At Wize, they use the 7-divisional organizational chart, which helps practice wonders to identify which roles or activities should be delegated to specific divisions. Also, the org chart helps you as the firm owner to plan your withdrawal journey from the business.

So, if you want to find out what’s the biggest barrier to growth and how you can start implementing the Wize 7-division org chart in your accounting or bookkeeping firm, then head over to this week’s episode! 

Timestamps:

0:00 - Intro

0:35 - Are you working IN your business or ON your business?

1:32 - What are the barriers to growth and how to overcome them?

4:21 - The importance of leadership

7:42 - Wize 7-Division Org Chart

17:30 - How to take action

Quotations:

“It’s important to take a look at our 7-divisional organizational chart because it also helps you plan your withdrawal journey out of it.” - Thomas Sphabmixay

“If you can change the way you think, you can change your life because the way you think leads to the decisions you make, and the decisions you make leads the outcomes.” - Ed Chan

USEFUL LINKS:

• Get exclusive and early bird access to WizeHub! The ultimate business intelligence software for growing accounting firms of any size:  https://www.wizementoring.com/wizehub-offer/
• Book a WizeHub demo: https://www.wizementoring.com/wizehub-offer/

GET IN TOUCH!

Website: www.wizementoring.com

Facebook: https://www.facebook.com/wizementoring/

Twitter: https://twitter.com/wizementoring

Linkedin: https://www.linkedin.com/company/wizementoring/

Instagram: https://www.instagram.com/wize.guys/?hl=en

Email: [email protected]

Download the full transcript here.

________________  

PS: Whenever you’re ready… here are the fastest 4 ways we can help you fix and grow your accounting firm:  

 1. Download our famous Wize Freedom Map for FREE - Find out the 101 projects every firm owner must implement to build a $5M+ firm that can run without them - Download here 

2. Need to hire right now? Book a 1:1 FREE discovery call with our WizeTalent hiring coaches to help find your next team member the Wize Way – Click Here 

3. Work with Jamie and our mentors for 8 weeks - Build a custom business plan for your firm - Apply here

Episode 50: Introducing the NEW WizeHub

WizeHub is a proprietary business intelligence application that allows you to track the heartbeat and results of your firm in real-time. (It’s not just about technology but also aligning people to use it correctly for results!)

In this episode of The Wize Guys Podcast, Jamie Johns and one of the Wize Mentors, Tim Causbrook discuss WizeHub, a cloud-based tool for managing accounting and bookkeeping firms.

Jamie shares the history of how he came up with the concept for the WizeHub, starting with his love for computers and technology from a young age. He talks about how he struggled with dyslexia and the need for the organization to learn effectively.

So, if you want to know the reasons why WizeHub is a powerful tool for scaling and growing your practice, allowing firms to operate without relying on you, as the business owner then this episode is for you!  

Timestamps:

0:00 - Intro

0:35 - Jamie Johns’s story from frantic to freedom

2:18 - How WizeHub started

3:21 - What is the WizeHub tool?

USEFUL LINKS:

• Get exclusive and early bird access to WizeHub! The ultimate business intelligence software for growing accounting firms of any size:  https://www.wizementoring.com/wizehub-offer/
• Book a WizeHub demo: https://www.wizementoring.com/wizehub-offer/

GET IN TOUCH!

Website: www.wizementoring.com

Facebook: https://www.facebook.com/wizementoring/

Twitter: https://twitter.com/wizementoring

Linkedin: https://www.linkedin.com/company/wizementoring/

Instagram: https://www.instagram.com/wize.guys/?hl=en

Email: [email protected]

Download the full transcript here.

________________  

PS: Whenever you’re ready… here are the fastest 4 ways we can help you fix and grow your accounting firm:  

 1. Download our famous Wize Freedom Map for FREE - Find out the 101 projects every firm owner must implement to build a $5M+ firm that can run without them - Download here 

2. Need to hire right now? Book a 1:1 FREE discovery call with our WizeTalent hiring coaches to help find your next team member the Wize Way – Click Here 

3. Work with Jamie and our mentors for 8 weeks - Build a custom business plan for your firm - Apply here

Episode 49: Drowning in emails? How to manage traffic flow so you can be productive with your time and be profitable at the same time

If you can manage a client's expectations, you'll never really lose a client.

In this episode of The Wize Guys Podcast, Ed Chan and Jamie Johns, together with our Wize Mentor, Tim Causbrook explore the challenges of dealing with overwhelming traffic and share actionable tips on how your manage your traffic flow effectively for increased productivity and profitability.

So, if you want to know the Wize Philosophy on managing the traffic flow in your accounting or bookkeeping practice business, then listen to today’s episode!

Timestamps:

0:00 - Intro

0:34 - Wize Philosophy on managing traffic flow

1:29 - The importance of communicating and building relationships with your clients

3:24 - How does traffic flow’s efficiency benefits the accounting or bookkeeping firm

8:49 - The 7 steps to managing traffic flow

9:50 - Accountants Highway to the Danger Zone Playbook

16:07 - Quad activities: What’s urgent & important VS What’s not urgent & important

16:35 - Is 20% chaos manageable?

18:31 - How to take action

Quotations:

“Just to pick up what Ed said, you could always address the symptoms and not the problem. So you've really gotta address the problem. I think the first point to recognize is it doesn't matter where you are in. Everyone's got eight hours a day. It doesn't matter where you are...You've got eight hours a day. So the problem is just time. Every firm owner I speak to just lacks time. That's really your first limitation. So you've gotta re you've gotta recognize your limitations…” - Jamie Johns

USEFUL LINKS:

• FREE DOWNLOAD!! Accountants! Scale your business today 🚀Accountants Highway to the Danger Zone Playbook:  https://wizementoring.mykajabi.com/accountants-highway-to-the-danger-zone

GET IN TOUCH!

Website: www.wizementoring.com

Facebook: https://www.facebook.com/wizementoring/

Twitter: https://twitter.com/wizementoring

Linkedin: https://www.linkedin.com/company/wizementoring/

Instagram: https://www.instagram.com/wize.guys/?hl=en

Email: [email protected]

Download the full transcript here.

________________  

PS: Whenever you’re ready… here are the fastest 4 ways we can help you fix and grow your accounting firm:  

 1. Download our famous Wize Freedom Map for FREE - Find out the 101 projects every firm owner must implement to build a $5M+ firm that can run without them - Download here 

2. Need to hire right now? Book a 1:1 FREE discovery call with our WizeTalent hiring coaches to help find your next team member the Wize Way – Click Here 

3. Work with Jamie and our mentors for 8 weeks - Build a custom business plan for your firm - Apply here

Episode 48: The concept of implementing a no-blame culture 

 
So, focus on the problem, focus on fixing the problem. Focus on finding solutions to the problem, irrespective of how the problem was created, or who created the problem. 

In this episode of The Wize Guys Podcast, Brenton Ward and Ed Chan discussed what the “No Blame” culture is all about and how implementing it in your organization can be a total game-changer. 

 
Timestamps: 

0:00 - Intro 

0:35 - What is the 'No Blame' Culture?  

2:05 - Reasons why you should create a friendly environment 

2:56 - The importance of focusing on the problem 

4:02 - How managing people affects work productivity 

5:29 - The concept of maturity continuum from Dr. Stephen Covey's book Seven Habits of Highly Effective People 

5:59 - Leadership = Interdependence 

7:22 - How to become a better leader 

 
 
#wizementoring #noblame #culture 

Quotations: 

 
“I often see accounting firms blaming people for problems and then often they don't know they're doing it, it's just through frustration. So, it's either in their face or their body language or when there's a mistake made.” - Ed Chan 

“One of the biggest mistakes that managers make is blaming people for mistakes. It's really difficult because of the mistakes made by it. There's a domino effect all the way down the line. It's extremely frustrating. However, your role as a manager is to get the best out of your people.” - Ed Chan 

“If you can create an environment where it's open and solution focus and people are looking for solutions rather than looking for problems, then you're going to have an abundant environment rather than a scarcity environment.” - Ed Chan 

GET IN TOUCH! 

Website: www.wizementoring.com 

Facebook: https://www.facebook.com/wizementoring/ 

Twitter: https://twitter.com/wizementoring 

LinkedIn: https://www.linkedin.com/company/wizementoring/ 

Instagram: https://www.instagram.com/wize.guys/?hl=en 

Email: [email protected] 

Download the full transcript here. 

________________  

PS: Whenever you’re ready… here are the fastest 4 ways we can help you fix and grow your accounting firm:  

 1. Download our famous Wize Freedom Map for FREE - Find out the 101 projects every firm owner must implement to build a $5M+ firm that can run without them - Download here 

2. Need to hire right now? Book a 1:1 FREE discovery call with our WizeTalent hiring coaches to help find your next team member the Wize Way – Click Here 

3. Work with Jamie and our mentors for 8 weeks - Build a custom business plan for your firm - Apply here

Episode 47: Sales Tips for Senior Client Managers 

 
In this episode of The Wize Guys Podcast, Ed Chan and Jamie Johsn with Wize Mentor, Thomas Sphabmixay discussed how Senior Client Managers can be successful in their sales jobs. They discussed some of the different strategies that have helped their SCMs succeed, as well as pitfalls that should be avoided.  

Tune in for this exciting session! 

 
 
Timestamps: 

0:00 - Intro 

0:35 – Develop a healthy sales culture with your senior client managers to grow the practice

3:03 – Pareto’s 80-20 principle 

4:08 - The importance of getting the team structure and capacity plan right to increase sales 

5:05 – The analogy of a sporting team (getting the resource mix right) 

6:55 - “You should slow down sales, but rather ramp up production.” 

9:22 – Some of the challenges you’ve faced in developing SCMs’ sales skills 

13:28 – How to handle your existing clients VS new clients 

15:47 – Jamie Johns’ 6-month Sales Academy: Training Program for your Senior Client Managers 

18:19 - What are the KPIs senior client managers should be held accountable to when it comes to sales?  
 

#wizementoring #sales #accoountingtips 

Quotations: 

 
“Getting more word-of-mouth referrals is important because not only does it endorse what you're doing if people are happy with you, getting more clients for no cost basically, but just for doing a good job.” - Ed Chan 

“... it's most important that the senior client managers, and even if you're SCM yourself, have enough time to talk to the clients. So, rule number one, is you've gotta have enough time to talk to the clients and that's all about sorting out your capacity.” - Jamie Johns 

GET IN TOUCH! 

Website: www.wizementoring.com 

Facebook: https://www.facebook.com/wizementoring/ 

Twitter: https://twitter.com/wizementoring 

LinkedIn: https://www.linkedin.com/company/wizementoring/ 

Instagram: https://www.instagram.com/wize.guys/?hl=en 

Email: [email protected] 

Download the full transcript here. 

________________  

PS: Whenever you’re ready… here are the fastest 4 ways we can help you fix and grow your accounting firm:  

 1. Download our famous Wize Freedom Map for FREE - Find out the 101 projects every firm owner must implement to build a $5M+ firm that can run without them - Download here 

2. Need to hire right now? Book a 1:1 FREE discovery call with our WizeTalent hiring coaches to help find your next team member the Wize Way – Click Here 

3. Work with Jamie and our mentors for 8 weeks - Build a custom business plan for your firm - Apply here

Episode 46: Referrals: Do’s and Don'ts 

 
In this episode of The Wize Guys Podcast, Ed Chan with Wize Mentors, Thomas Sphabmixay, and Timothy Causbrook discuss how having a referral program in place increases the chances of getting quality referrals and keeping the business of these clients for your accounting firm. 
 
Find out how to start implementing this process so that there is a steady stream of referrals in the pipeline.  

 
 
Timestamps: 

0:00 - Intro 

0:35 - How to implement a referral process 

1:14 - Why referrals are the most efficient way to leverage 

1:50 - The importance of client service and communication 

2:39 - What is the ideal time to respond to clients 

4:43 - Why client approval meeting is essential 

5:38 - Tips for giving value to clients 

8:58 - The positive impact of having your clients involved 

9:31 - Understanding the emotional bank account 
 

#wizementoring #referrals #referralmarketing 

Quotations: 

“At Chan and Naylor, we have the same-day response. So, if you can't respond the same day because you're in a meeting, then at the latest the next morning. If you can't respond the next morning, you have got to get someone to ring the client up and let them know you won't be able to get back to them for a couple of days. If you're connecting with the client, that's the first thing you need to do. And everybody needs to be on the same page with that.”- Ed Chan  

USEFUL LINKS: 
 

• Download FREE eBook: The Accountant's 20-Hour Workweek Playbook 

GET IN TOUCH! 

Website: www.wizementoring.com 

Facebook: https://www.facebook.com/wizementoring/ 

Twitter: https://twitter.com/wizementoring 

Linkedin: https://www.linkedin.com/company/wizementoring/ 

Instagram: https://www.instagram.com/wize.guys/?hl=en 

Email: [email protected] 

Download the full transcript here. 

________________  

PS: Whenever you’re ready… here are the fastest 4 ways we can help you fix and grow your accounting firm:  

 1. Download our famous Wize Freedom Map for FREE - Find out the 101 projects every firm owner must implement to build a $5M+ firm that can run without them - Download here 

2. Need to hire right now? Book a 1:1 FREE discovery call with our WizeTalent hiring coaches to help find your next team member the Wize Way – Click Here 

3. Work with Jamie and our mentors for 8 weeks - Build a custom business plan for your firm - Apply here

Episode 45: Your practice sales playbook - the best way to convert new clients every time 

"It’s 20 times harder to find a new client than to keep existing ones.”- Jamie Johns 

In this episode of The Wize Guys Podcast, Ed Chan, and Jamie Johns, with Wize Mentor, Kristy Fairbairn discussed that leads take a long time to convert, and once they do make sure you have a good policy in place. They also talked about how important it is that you are at the “top of your client's mind” and the speed at which you get back to the client. 
 
#wizementoring #leadgeneration #salesprocess 

Timestamps: 

0:00 – Intro 

0:35 – Reasons why its 20 times harder to find a new client than to keep existing ones 

1:48 – Understanding the concept of LAPS steps 

2:43 – The importance of documenting the sales process 

3:05 – The impact of Wize’s philosophy in running an accounting or bookkeeping firm 

4:12 – Ed Chan on “You cannot make a client change Accountant, but you can be top of mind when they eventually decide to change.” -- How important is being at the “top of their minds” and the speed at which you get back to the client? 

5:03 – Marketing VS Sales 

7:53 – How to build a prospect/lead database 

9:16 – Best practices for lead conversion 

10:17 – How to utilize technology in sending business proposals 

10:57 – TIP: Do your presentation face-to-face with you clients 

11:38 – The NEW trend of having face-to-face meetings with clients 

13:07 – How to identify your firm’s Unique Selling Proposition (USP) 

14:31 – How to take action 

18:10 – CRM suggestions to start implementing in your firm 

Quotations: 

 
“If you follow the process, you'll get the best results. ” - Jamie Johns 

GET IN TOUCH! 

Website: www.wizementoring.com 

Facebook: https://www.facebook.com/wizementoring/ 

Twitter: https://twitter.com/wizementoring 

Linkedin: https://www.linkedin.com/company/wizementoring/ 

Instagram: https://www.instagram.com/wize.guys/?hl=en 

Email: [email protected] 

Download the full transcript here. 

________________  

PS: Whenever you’re ready… here are the fastest 4 ways we can help you fix and grow your accounting firm:  

 1. Download our famous Wize Freedom Map for FREE - Find out the 101 projects every firm owner must implement to build a $5M+ firm that can run without them - Download here 

2. Need to hire right now? Book a 1:1 FREE discovery call with our WizeTalent hiring coaches to help find your next team member the Wize Way – Click Here 

3. Work with Jamie and our mentors for 8 weeks - Build a custom business plan for your firm - Apply here