The Wize Way

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

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

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. Take the Wize Accountants Scale Scorecard – Find out your potential to scale and the next steps you should follow – Start Your Scorecard

2. 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 a 1:1 FREE discovery call with our WizeTalent hiring coaches to help find your next team member the Wize Way – Click 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!

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

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

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. Take the Wize Accountants Scale Scorecard – Find out your potential to scale and the next steps you should follow – Start Your Scorecard

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

Episode 26: How to Get Your Capacity Plan Humming

The Wize Way

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:

FREE eBook: The Biggest Secrets to Recruiting Qualified Accountants

GET IN TOUCH!

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

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

Email: support@wiz

________________

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

1. Take the Wize Accountants Scale Scorecard – Find out your potential to scale and the next steps you should follow – Start Your Scorecard

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

Episode 95: Wize Factor Chat: Shayan Rashid - SRJ CPA

The Wize Way

02/29/24 • 13 min

We are currently looking for 2 practice owners with $300k-$3M revenue who would like hands-on help to scale their firm in the next 12 months. Must be coach-able and ready to implement.
Apply here: https://forms.zohopublic.com.au/wizementoring/form/WizeGrowthDiscovery/formperma/xWwns0wTLoKShmR0jlg0VMaW0FHVQ-V4UdDDecy9aYM
___________
Imagine transforming your practice from a time-consuming juggernaut into a flourishing enterprise that scales new heights while granting you the freedom to pursue your passions.
In this episode of The WizeFactor Chat of The Wize Guys Podcast, we had a conversation with Shayan Rashid, a Partner - Chartered Professional Accountant at SRJ Chartered Accountants Professional.
Shayan shares the astonishing evolution of their business through mindset shifts and culture that enabled him to not only welcome over a million in new work but also embrace the art of saying 'no' to potential clients who weren't the right fit. It's a narrative that celebrates the small, yet significant strategies that collectively catalyzed her practice's success, and it's brimming with insights that every practice owner can apply to catalyze their growth.
In parallel, he lifts the veil on his own experience of stepping back from the nitty-gritty of everyday operations to focus on strategic growth and partnerships. By assembling a stellar team and crafting effective systems, I've liberated myself to engage more deeply in basketball, coaching, and travel, all while mentoring the next wave of entrepreneurial talent. Our conversation is not just a reflection on our personal journeys; it's a blueprint for aggressive business expansion and a testimonial to the liberating power of a well-structured business. For those hungry to reshape their business and life, our episode provides the motivation and the methodologies to make it happen!

________________

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

1. Take the Wize Accountants Scale Scorecard – Find out your potential to scale and the next steps you should follow – Start Your Scorecard

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

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

The Wize Way

03/29/23 • 8 min

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!

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

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

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. Take the Wize Accountants Scale Scorecard – Find out your potential to scale and the next steps you should follow – Start Your Scorecard

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

Episode 50: Introducing the NEW WizeHub

The Wize Way

04/13/23 • 5 min

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!

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

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

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. Take the Wize Accountants Scale Scorecard – Find out your potential to scale and the next steps you should follow – Start Your Scorecard

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

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

The Wize Way

05/11/23 • 5 min

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!

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

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

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. Take the Wize Accountants Scale Scorecard – Find out your potential to scale and the next steps you should follow – Start Your Scorecard

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

Episode 53: Why use NPS for staff and clients

The Wize Way

05/03/23 • 19 min

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!

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

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