Small steps can lead to incremental benefits

There is no need to re-invent the wheel. You are best placed to understand your clients’ needs and aspirations. They have chosen you as their adviser so there is no need to change your spots to be recognised.

To continue with the analogy, you could check your tyre pressure from time to time and change your tyres when the tread wears down, but there is no need to change the wheels.

Bob’s take on this article

You will gain insights on the following points:

  • Focus on ideas that will have traction with your clients
  • Implement these ideas without undue demands on your time
  • Using our Fee Builder resources and tools, no need to reinvent the wheel…

How to recognise appropriate change

Time is a limiting factor, it demands that we get on with tasks rather than consider if the tasks can be be eliminated or undertaken in a simpler fashion. For most of us, navel gazing is a luxury we cannot afford; there are simply not enough hours in the day.

COVID-19 has exaggerated these demands as we are now required to socially distance from our clients and work colleagues. And still get the work done…

The key to recognising appropriate change is to eliminate ideas that don’t appeal and concentrate instead on ideas that may have traction with your clients.

For example, we suggested to firms that are part of our Fee Builder Program that they consider “pro-bono” services to assist their clients when the effects of the coronavirus disruption first started to bite.

This was a pretty radical suggestion as most practitioners would not be receptive to the idea of doing something for no reward.

This is what a Fee Builder firm in Kings Lynn reported when they adopted a pro bono approach with clients:

The ideas and strategies that the Landmark Fee Builder program have provided have made me think outside the box. Many are ideas that I would not have thought of in isolation.

For example, we have taken on the notion that at this difficult time it may be prudent to consider limited use of pro-bono services for clients. When we have done this we have had a good response and whilst this does not add to monthly billing it does demonstrate that we are willing to help clients that are adversely affected by the present disruption. Hopefully, this is an investment in the long-term value of practice goodwill.

Simon Dimblebee, Thain Wildbur – June 2020

Finding the time to consider change

If we don’t change and adapt we run the risk that over time more and more of our present routines and strategies will become ineffective and may possibly jeopardise the standards of service that we can offer clients.

Returning to the “wheel” analogy, if you fail to check the tread on your tyres, at some future date you may have a blow-out…

At Landmark, we have developed the Fee Builder program with this in mind. Each month we prepare easy to implement strategies such that our subscribers can quickly identify those that can be of value to clients and those that cannot. Very often it is the small changes that can contribute most to improved clients service.

Access current month’s Fee Builder content – no charge

We would like to offer you the opportunity to sample a few of the current month’s Fee Builder ideas. To do this all you need to do is complete our online order form. No fees will be charged for 30 days and if you see no value in the service you can cancel before these fall due for payment.

 

 

Bob Edwards

Bob has been working with practices across the UK offering novel ways to improve cross-sales and increase new client acquisitions. He is also interested in "step changes" in legislation that offer challenges, and therefore opportunities, for practitioners to provide new recurring and one-off support services to clients.

Leave a comment