The Wize Way
Wize Mentoring for Accountants and Bookkeepers
Feeling stuck in your firm or on the edge of rapid growth but don't know how to build the business so that it’s not reliant on you?
Join Bren Ward as he shares the insights, stories, strategies and tools that have helped transform the businesses and lives of our Wize Guys and hundreds of Accounting, CPA and bookkeeping firm owners around the world.
In each episode, Bren dives into the leadership, marketing, sales, systems and mindset tactics that'll get you to your goals without burning out.
His interviews with his Wize co-founders and community of Wize firm owners are inspiring and transformational.
Subscribe to transform your challenges into opportunities and build a business that can run without you.
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Top 10 The Wize Way Episodes
Goodpods has curated a list of the 10 best The Wize Way episodes, ranked by the number of listens and likes each episode have garnered from our listeners. If you are listening to The Wize Way for the first time, there's no better place to start than with one of these standout episodes. If you are a fan of the show, vote for your favorite The Wize Way episode by adding your comments to the episode page.
09/19/24 • 28 min
In this episode of The Wize Guys Podcast, Kristy Fairbairn and Thomas Sphabmixay explore the daily habits of high-performing leaders in accounting and bookkeeping firms. They discuss the importance of dedicating one hour each day to personal development, focusing on areas like leadership, marketing, and technology.
Thomas emphasises the value of staying sharp and continuously learning to lead effectively. Kristy highlights the significance of maintaining clarity and alignment with long-term goals through daily non-negotiables like reviewing KPIs and energizing the body. Listeners are encouraged to structure their days intentionally, balancing work and personal growth for sustained success.
________________
PS: Whenever you’re ready... here are the fastest 3 ways we can help you fix and grow your accounting firm:
1. Download our famous Wize Freedom Strategy Map for FREE - Find out the 96 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 at 1:1 FREE hiring assessment with our WizeTalent recruiters to help find your next best employee locally or offshore – Click Here
3. Book a 1:1 Wize Discovery Session – Spend 30mins with our Wize CEO, Jamie Johns, a $7M firm owner who is ready to give you his entire business plan to build a firm that can run without you – Find out more here
Hot Seat: Thomas Sphabmixay ┃How to Establish An Ideal Organizational Structure and Culture for Your Accounting Practice
In this episode of The Wize Guys, Brenton Ward had a 1:1 interview with Thomas Sphabmixay from TMS Tax Accounting & Financial Services who was first introduced to the Wize Mentoring program when they approached Ed Chan for Mentoring.
Through Wize, they were able to turn their team around and put their house in order. In just 6 months, they were able to develop an ideal organizational chart and set up an effective team structure that ultimately led to their firm’s growth!
Timestamps:
0:35 Early work challenges that Thomas had with TMS
4:15 That insight about ‘coaching’
5:45 The fundamental need to pay taxes religiously
6:09 Thomas ‘million things to change’
7:23 How to get the momentum
8:59 Understanding the foundation of an accounting business
11:11 How to focus on the core issue
13:21 Thomas’ defining moment or ‘click moment’
19:06 Tips for communicating right
23:42 How to develop structures and processes in place
26:08 Why culture is considered to be a massive part of an organization
27:24 The importance of having a culture
29:03 How to influence culture in creating the right environment
31:50 Why you should get people involved and engage
Quotations:
“I think the root of that problem, right, is the fact that the system typically doesn't evolve with the level of work or at the same rate as the level of work comes in. Like, you can be quite good at bringing the work in the door, but if you're not as focused on the systems being developed in conjunction with the level of work coming through the door, then there's a complete mismatch. ” - Brenton Ward
“I think over the last two years, it's like I've been taught the fundamentals of how exactly a professional services business should be set up or what the business model of a professional services business is.” - Thomas Sphabmixay
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 3 ways we can help you fix and grow your accounting firm:
1. Download our famous Wize Freedom Strategy Map for FREE - Find out the 96 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 at 1:1 FREE hiring assessment with our WizeTalent recruiters to help find your next best employee locally or offshore – Click Here
3. Book a 1:1 Wize Discovery Session – Spend 30mins with our Wize CEO, Jamie Johns, a $7M firm owner who is ready to give you his entire business plan to build a firm that can run without you – Find out more here
12/01/22 • 10 min
FREE DOWNLOAD!! Accountants! Scale your business today 🚀
Accountants Highway to the Danger Zone Playbook is a guide for accountants and bookkeepers looking to overcome the barriers that are holding them back from growing their firms. Our playbook shows you exactly what tactics we used when growing our firm so you can replicate it in your business today!
Click here to download the Accountants Highway To The Danger Zone Playbook 👉 https://wizementoring.mykajabi.com/accountants-highway-to-the-danger-zone
Episode 33: Planning your 2023 business growth strategy
In this episode of The Wize Guys Podcast, Jamie Johns touched on how to determine your ideal turnover to reach your ideal income. This is part of the barriers to growth that will allow you to develop an effective business plan and growth strategy.
Find out the best tips in accounting business’ planning for 2023!
Timestamps:
0:43 - The concept of business plan and growth strategy
1:12 - How to figure out your ideal income
2:18 - Grab your FREE business plan template
3:28 - Step-by-step guide to creating your growth plan
Quotations:
“...part of overcoming the barriers to growth is to try and reach what your ideal turnover or fees are in order to reach your ideal income.” - Jamie Johns
USEFUL LINKS:
- Business Plan Template
- 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 3 ways we can help you fix and grow your accounting firm:
1. Download our famous Wize Freedom Strategy Map for FREE - Find out the 96 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 at 1:1 FREE hiring assessment with our WizeTalent recruiters to help find your next best employee locally or offshore – Click Here
3. Book a 1:1 Wize Discovery Session – Spend 30mins with our Wize CEO, Jamie Johns, a $7M firm owner who is ready to give you his entire business plan to build a firm that can run without you – Find out more here
Episode 55: How to up skill grad accountants and bookkeepers to intermediate/ senior level in 12 weeks flat
The Wize Way
05/18/23 • 27 min
Episode 55: How to up skill grad accountants and bookkeepers to intermediate/ senior level in 12 weeks flat
In this episode of The Wize Guys Podcast, Ed Chan together with Kristy Fairbairn, one of the Wize Mentors is joined by TMS Eng Sivieng, our resource speaker for this session.
Eng shares her framework for developing staff and discusses her focus on training, as well as the challenges she has faced. The group also explores the advantages of choosing fresh graduates over junior, intermediate, and senior accountants. Tune in for valuable insights on staff development in accounting practices!
Timestamps:
0:00 - Intro
0:59 - Eng Sivieng from TMS Financial Services
2:49 - WizeMarket: Practical Training Programs for Junior & Senior Accountants
7:30 - Understanding the framework and 4Ps
13:51 - How do find time in building a training framework
16:46 - Tips for training your people
21:59 - Why do you prefer fresh graduates over junior, intermediate, and senior accountants?
24:06 - How to be a successful practitioner?
Quotations:
"The process doesn't take long, but the preparation station normally takes longer." - Eng Sivieng
"You really have to [empower them] because they're very smart already. You have to be able to empower them to be able to bring out their goodness and talent." - Eng Sivieng
"It's okay to not know some things. If you'd open up and you speak up, you ask, learn more, you can gain more." - Eng Sivieng
"The more confidence they build, the more competence they have." - Eng Sivieng
USEFUL LINKS:
- WizeMarket: Take your firm to the next level! https://www.wizementoring.com/wize-market/
- 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 3 ways we can help you fix and grow your accounting firm:
1. Download our famous Wize Freedom Strategy Map for FREE - Find out the 96 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 at 1:1 FREE hiring assessment with our WizeTalent recruiters to help find your next best employee locally or offshore – Click Here
3. Book a 1:1 Wize Discovery Session – Spend 30mins with our Wize CEO, Jamie Johns, a $7M firm owner who is ready to give you his entire business plan to build a firm that can run without you – Find out more here
07/21/22 • 52 min
Episode 24: Step-by-step Guide for every Accounting Practice’s Withdrawal Journey
What has changed in the accounting system? What are the latest trends and things to adopt for your accounting business?
In this episode of The Wize Guys, Brenton Ward, Jamie Johns, and Ed Chan talk about Your Withdrawal Journey – building a practice that runs without you.
If you are frustrated in your current situation and don’t feel like you are withdrawing from certain functions quickly enough, our mentors have some advice for you plus the use of WizeHub. Learn more on this episode.
Timestamps:
1:19 - How life-changing is the current system for accounting firms
3:17 - Why people are the greatest challenge and asset
4:28 - TIP #1: Train your people to do the job.
6:59 - The importance of stepping back
7:39 - TIP #2: Document everything ~ every process you have.
8:16 - TIP #3: Hone every structure for better leadership, flow, and productivity
11:39 - TIP #4: Encourage bottom-top and not top-bottom hierarchy.
12:39 - TIP #5: Be in control, and not be controlling.
13:25 - What are the danger zones and roadblocks in the withdrawal journey?
13:40 - How money should work for you and your business
15:26 - How to run and manage an accounting business
17:23 - Working IN the business vs Working ON the business
22:23 - How to make the resource mix right
27:08 - Reasons why you should take responsibility
28:21 - How to start building a business that can run without you
34:36 - How to hire strategically
36:02 - Understanding the concept of ‘I don’t have time.’
39:54 - Short-term vs. Long-term/ Urgent vs. Not Urgent/ Important vs. Not Important
42:50 - Top tips for success
Quotations:
“..people are our greatest challenge, but they're also our greatest asset.” - Ed Chan
“Being busy is not the same as being productive.” - Ed Chan
“..the only difference between successful people and unsuccessful people is just simply the way they think.” - Brenton Ward
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 3 ways we can help you fix and grow your accounting firm:
1. Download our famous Wize Freedom Strategy Map for FREE - Find out the 96 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 at 1:1 FREE hiring assessment with our WizeTalent recruiters to help find your next best employee locally or offshore – Click Here
3. Book a 1:1 Wize Discovery Session – Spend 30mins with our Wize CEO, Jamie Johns, a $7M firm owner who is ready to give you his entire business plan to build a firm that can run without you – Find out more here
08/25/22 • 35 min
Episode 26: How to Get Your Capacity Plan Humming
“As Jamie uses that analogy with the glass of water you want to, if you want to grow, you've got to have that cup, not at the full at the ring...”
In this episode of The Wize Guys, Brenton Ward, Jamie Johns, and Ed Chan talk about Capacity Plan – The most critical tool for a high-performing and profitable production and discuss how having a capacity plan in place is one of the fundamental tools they recommend for scaling a practice. They provide some insight into capacity planning and why it's so important to the growth of the business.
They also discuss what are the most common reasons for overcapacity. What are the negative outcomes because of this and what are suggested approaches to correcting this? Learn more on this episode to get you started to work on your capacity plan in place!
Timestamps:
1:11 - Understanding the context of a capacity plan
2:25 - The importance of having a capacity planner
5:04 - How to science right with your people
8:54 - The rule of thumb
10:20 - Tips for capacity planning
13:12 - Most common reasons for overcapacity
17:38 - Key points to work in capacity planning
23:29 - Reasons why you need spare capacity
28:02 - How to allocate productivity with training
30:12 - Is it ok to disclose staff salaries to the team?
32:04 - How to determine charge-out rates
Quotations:
“In our industry, productivity really gets the clarity because between charging right and productivity and the number of hours a person works, this is what your capacity is per person and wallet. It’s not an exact science. It's a really good guide, particularly if you're trying to grow your firm.” - Jamie Johns
“So just getting the balance rights important between servicing and growth. If you want to grow, you've got to spend more time in front of your clients.” - Ed Chan
USEFUL LINKS:
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 3 ways we can help you fix and grow your accounting firm:
1. Download our famous Wize Freedom Strategy Map for FREE - Find out the 96 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 at 1:1 FREE hiring assessment with our WizeTalent recruiters to help find your next best employee locally or offshore – Click Here
3. Book a 1:1 Wize Discovery Session – Spend 30mins with our Wize CEO, Jamie Johns, a $7M firm owner who is ready to give you his entire business plan to build a firm that can run without you – Find out more here
06/08/23 • 10 min
Episode 58: How To Build an Extraordinary Marketing System for your Accounting Practice
“The more marketing you do, the less you need to sell.” - Ed Chan
While most of your business revenue depends directly on the strategic ideas you implement in providing your services, it also depends on your popularity as a company.
By the company's popularity, we are not referring to just being known among your circle and acquaintances. Basically, your accounting firm needs more visibility and awareness about the services you provide.
In this episode of The Wize Guys Podcast, Ed Chan, Tim Causbrook, and Thomas Sphabmixay discussed how Accounting business owners can build an extraordinary Marketing system to reach more leads without leaving them as a prisoner of their practice.
Timestamps:
0:00 - Intro
0:34 - The difference between marketing and sales
1:47 - Good marketing leads to great sales
4:17 - The importance of consistency and persistency
6:51 - Is partnership a good idea?
Quotations:
"Marketing is about building awareness. Building awareness of your brand and building awareness of the products that you sell." - Ed Chan
"It's not just about someone buying something from you today, but it's about building up that prospective database that potentially can buy from you in the future." - Ed Chan
"The biggest thing is consistency with marketing. They are the absolute key because if you stop the marketing, it's so much harder to get it going." - Jamie Johns
USEFUL LINKS:
- Message us to get a copy of the Sales VS Marketing Guide: https://m.me/claudiawize/
- 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 3 ways we can help you fix and grow your accounting firm:
1. Download our famous Wize Freedom Strategy Map for FREE - Find out the 96 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 at 1:1 FREE hiring assessment with our WizeTalent recruiters to help find your next best employee locally or offshore – Click Here
3. Book a 1:1 Wize Discovery Session – Spend 30mins with our Wize CEO, Jamie Johns, a $7M firm owner who is ready to give you his entire business plan to build a firm that can run without you – Find out more here
09/14/23 • 42 min
FREE Book Preview Download of Wize M&A Mastery System: https://www.wizementoring.com/ma-mastery-system/
In this week's episode of The Wize Guys Podcast, we'll explore how to successfully navigate business mergers and acquisitions. Join Ed and Jamie, as we take a deep dive into the intricacies of this growth strategy. We'll be sharing pearls of wisdom from our wealth of experience - discussing the advantages, pitfalls, and the critical importance of striking the right loan value ratio. And here's a pro tip right upfront - keep that ratio below 50%.
Purchasing a business isn't just about numbers and legalities - there's a significant emotional aspect too. We'll help you understand the motivations of the vendor, the value of patience and empathy, and how to spot warning signs. Jamie's got a compelling narrative of tireless pursuit, spanning over half a decade, that culminated in triumph - you really don't want to miss it.
As we wrap up, we'll delve into the practicalities of a business acquisition. Enlighten yourself on the pros and cons of transitioning an acquisition over different periods, the keys to successful joint branding, and the measures to ensure a smooth and seamless transition for the clients. Plus, Jamie delivers some essential tips - from ensuring the cultural fit with the vendor to carrying out due diligence and risk assessment. So plug in, and get ready for a riveting conversation filled with insider knowledge on successfully navigating practice acquisitions!
________________
PS: Whenever you’re ready... here are the fastest 3 ways we can help you fix and grow your accounting firm:
1. Download our famous Wize Freedom Strategy Map for FREE - Find out the 96 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 at 1:1 FREE hiring assessment with our WizeTalent recruiters to help find your next best employee locally or offshore – Click Here
3. Book a 1:1 Wize Discovery Session – Spend 30mins with our Wize CEO, Jamie Johns, a $7M firm owner who is ready to give you his entire business plan to build a firm that can run without you – Find out more here
In this episode of The Wize Guys Podcast, hosts Kristy Fairbairn and Thomas S. Phabmixay discuss the strategic advantages of building an offshore team, addressing key areas such as:
- How to get started with offshoring
- Building an offshore team- step to growing your business
- Reasons why offshoring is a win-win for all
This episode is a must-listen for business owners looking to expand intelligently and sustainably through offshoring!
________________
PS: Whenever you’re ready... here are the fastest 3 ways we can help you fix and grow your accounting firm:
1. Download our famous Wize Freedom Strategy Map for FREE - Find out the 96 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 at 1:1 FREE hiring assessment with our WizeTalent recruiters to help find your next best employee locally or offshore – Click Here
3. Book a 1:1 Wize Discovery Session – Spend 30mins with our Wize CEO, Jamie Johns, a $7M firm owner who is ready to give you his entire business plan to build a firm that can run without you – Find out more here
10/28/21 • 15 min
Episode 7: Testing Potential Hires - For Grinders & Minders Role
How do find the right people for the right role?
In this episode of The Wize Guys, Brenton Ward, Jamie Johns, and Ed Chan talk about narrowing down candidates for your next hire can be a daunting process.
Let us give discuss different types of testing options out there, to help you find the ideal team member for your firm. Whether it's online timed work tests, sample tasks, or personality tests, you'll hear what the best options are for you and your team.
Timestamps:
0:34 - Why attitude is everything
1:28 - ROLES: Grinder vs Minder
2:02 - TIP: Get the context
4:12 - How to measure productivity
6:21 - Factors to consider when hiring
8:39 - Are personality and communication testing worthwhile?
12:22 - The importance of people in building a business that runs without you
13:23 - The ideal timeframe to give a job offer
Quotations:
“So attitude is everything. Put them through the toughest tasks that you can put them through, and put them through as many things as you could get them to do. And if they still come out of that with the right attitude, you're somewhat more likely to get the right person.” Ed Chan
“ I think the personality testing works a bit better for the mind or finder rather than the grinder...Speed isn't as essential in the mind or finder role. It's more about a people person communicating, knowing when to talk to a green person, compared to a blue person...So the personality test testing works better with the mind, the finder than it does for the grinder.” - Ed Chan
“They all say they can do the job, but you know, when they put their definition of being able to do it and your definition of being able to do it completely differently. So I get three tasks and I get them to do three tasks.” - Ed Chan
USEFUL LINKS:
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 3 ways we can help you fix and grow your accounting firm:
1. Download our famous Wize Freedom Strategy Map for FREE - Find out the 96 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 at 1:1 FREE hiring assessment with our WizeTalent recruiters to help find your next best employee locally or offshore – Click Here
3. Book a 1:1 Wize Discovery Session – Spend 30mins with our Wize CEO, Jamie Johns, a $7M firm owner who is ready to give you his entire business plan to build a firm that can run without you – Find out more here
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FAQ
How many episodes does The Wize Way have?
The Wize Way currently has 137 episodes available.
What topics does The Wize Way cover?
The podcast is about Management, Entrepreneur, Accounting, How To, Podcasts, Education, Mentoring and Business.
What is the most popular episode on The Wize Way?
The episode title 'Episode 33: Planning your 2023 business growth strategy' is the most popular.
What is the average episode length on The Wize Way?
The average episode length on The Wize Way is 22 minutes.
How often are episodes of The Wize Way released?
Episodes of The Wize Way are typically released every 7 days.
When was the first episode of The Wize Way?
The first episode of The Wize Way was released on May 4, 2021.
Show more FAQ
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