Business Planning, Business Proposals

Stephen Wanmer talks about his experience using the ProfitPlus Accounts online business planning system. The interview covers how he uses the system, the client results he is achieving, doing proposals with his non business planning clients and how other franchisees can use the system. Stephen accesses the ProfitPlus Accounts system via a license agreement between ActionCOACH and ProfitPlus Accounts.

Interviews

Nic Clark:
So what was his overall outcome for creating a business plan?

Stephen Wanmer:
Well, the overall outcome really there were two amazing things happened, probably, the most unexpected one was that he had his brother working as general manager in the business and that had been the case for a number of years. And he wasn’t entirely happy with his brother and that was an issue that was sort of going on in the background.

And so for the first day of the two days his brother was really quite obstructionist and didn’t really want to participate but the second day, he was quite different he was full on with us right through. But then in the wake of that, his bother quit. So he wasn’t expecting that he thought that he was going to have to deal with that some other way.

So, he then as business owner then stepped back into managing the business. But what the plan had achieved in addition to that is that it got them really focused on other market segments that they could go after with the skill base that they had and so he’s hardly come up for air since then really and a couple of his other team have been busy getting around and signing up working in these other niches really. So amazing outcome.

Nic Clark:
You were one of the champions using the questionnaire-based system the physical questionnaire based system where the client would complete the questionnaire and it will come back to you and then come back to us and we would process it and convert it into a plan. How have you found the online system in comparison with that?

Stephen Wanmer:
Boy, there’s really very little comparison allowed. I think it’s been helpful to me having that previous experience and knowing that, that’s how the basic system worked. But it’s just like chalk and cheese really. It’s just an all different scenario sitting with the client. Like in the case that I’ve just spoken about even and Brain storming and working it through together instead of them doing the best they can and then me having to go through it and then go back to them and it cuts out that two and throw that I used to have a lot of previously.

Nic Clark:
Okay. And are they having access to the system when you are not around? Are they– what’s going on up here?

Stephen Wanmer:
Yes. Once I send them through the link and I make the point. Of telling them you’ve got access to the system. In fact, before you even start, log into the system. Have a bit of look around in there so you’ll know the basic way that it works and that certainly gives us a head start when we get together for the one-on-one.

Nic Clark: Okay.
Also, you are speaking to me about you have their external accountant having access with it. So tell me a little bit about that. How does that work?

Stephen Wanmer:
Yes, well, my experience is that most business owners have a love-hate relationship with their accountant. And the relationship tends to be to one degree or another is quite dysfunctional. So with this first case that I’ve just being referring to. I actually then made an appointment. And went and saw their accountant and I’m hoping that will enable me to build relationships there and maybe work with some of their clients. So that’s a bit of a plus which I’m working on.

So it was good to be able to sit with their accountant and have him go through, they had most of the numbers right but he tidied it up a bit here and there. So that’s also an incredible opportunity.

But sitting with that accountant then in his board room with him having logged into the system and he actually went through the data that the clients had put in because when it gets to things like asset registers and the balance sheet those sort of areas, the clients are often quite unsure. So it was good to be able to sit with their accountant and have him go through, they had most of the numbers right but he tidied it up a bit here and there. So that’s also an incredible opportunity.

Nic Clark:
So if you’re giving advice to some of the coaches out into the market place what words of wisdom could you give across?

Stephen Wanmer:
Oh, goodness me. Well, I think it just illustrates the flexibility of this new tool that we’ve got. And I mean, it was I think initially presented in terms of profit club say, you get a group of clients together and I get to achieve that but that’s certainly in our plan. Well, for example, this client I have been talking about the first one that I did the one-on-one with.

They paid me $10,000 for the two days and I– in many respects, I find that sort of a one-on-one produces better results. I seem to be going my comfort zone in that. And of course, I’ve had the experience of others now in the same sort of way. Infact and it’s interesting that first one was a professional services business and what I’ve just been working on in the last week or so is also a professional services business.

And that’s a whole lot of– similar but also some quite different learnings as well coming out of doing the exercise. In that case I’m working with the business owner and his general manager. I’ve been coaching him for about two and a half years now and so I thought it’s time that we actually got serious and did a business plan. So he put his general manager in about eight months ago. So that’s been a great exercise for him as well.

Nic Clark:
Have you been waiting for your clients to approach you? Have you been mentioning to clients? So what’s been the go?

Stephen Wanmer:
Well at the moment and this started about a month ago, we’ve actually put proposals out to a number of our larger clients. And they are all over the next few months be I’m sure we will be doing business plans. So my view is that, as long as I’m being adequately rewarded and as long as they can be paying dollars that represent value to them not just in terms of how cheap can we do a business plan but see these guys that I was working with the last week I think they paid about seven and a half thousand dollars for their plan and they take it way more seriously.

They are putting their heart and soul into this exercise no holding back at all. And it’s great to see how excited they become. They get a bit out of their depth and there but how excited they become as they start thinking through some of the questions if they have to give answers to.

Nic Clark:
So what have been some of the BFO’s that have come out with your clients?

Stephen Wanmer:
Gosh, There’s been heaps and depending on the old system as well. But out of this new system, I have already told you about the general manager who questioned that guy also got present to the fact that he didn’t have his business set up correctly in terms of set up an organization chart, needed a fair bit of work.

Nic Clark:
Okay.

Stephen Wanmer:
Well, these guys just last week. And again, the importance of KPIs in the business wrong structures sometimes having the wrong people on the team even is one of the BFO’s that they have.

Nic Clark:
Just say somebody hasn’t started it, they haven’t kind of stepped into the realm yet. What advice could you give across?

Stephen Wanmer:
Goodness me, my main advice would just be start doing it. Just get in and if you’ve got larger clients in particular that I found out the best way to familiarize myself with it because you got to teach it with the PowerPoints, the PowerPoints are very good now and you are learning at the same time as your clients and so you know, every time I do it I’m learning more. So it’s just a case of jumping and do it.

the business plan basically locks them in almost permanently you know, into the future as clients. So it’s a massively valuable client retention exercise as well.

But the other thing that I’d say to them is you’re really not doing the best for your clients. If you don’t do this exercise with them and heck the outcome from doing the business plan basically locks them in almost permanently you know, into the future as clients. So it’s a massively valuable client retention exercise as well.

Nic Clark:
And have you gone about approaching your clients because you said you had business plan proposals out with your clients. How Have you approached them or have you just said, look I’m going to send you a proposal, we’ve had a conversations with them.

Stephen Wanmer:
Normally, I have a conversation with them in the coaching session like I do have a business plan proposal and I take it with me to the coaching session or I have it here when they come. And I will say look I’ve gone back through your file and I was particularly linking it into the beginning of 2015, the new year. At the beginning of this year, I was going to suggest that we do a realignment what we did at the beginning.

I’ve done up a business plan proposal and Id like to go through it with you now and I go through it with them and yeah well, these guys sign up on the spot.

I’m now at this new tool one I got a new business plan and I can understand why, because typical business plan not necessarily give you much value but this is a whole new way of approaching the planning exercise so you’re going to have massive learnings and I’ve done up a business plan proposal and Id like to go through it with you now and I go through it with them and yeah well, these guys sign up on the spot.

Nic Clark:
Okay. Great. And the business plan proposal is it one page, two pages, 25 pages?

Stephen Wanmer:
It’s pretty short I don’t have a copy in front of me now, it’s about two pages and then I have a sign-up sheet, I think I basically use what you’ve got in the system for that.

Nic Clark:
Thanks for spending your time with me. And it’s been insightful with regards to the fact that you said okay, I’ll just do a business plan proposal, I talk to my clients in the coaching session and where do you do it for the 2015 year or whatever year you happen be listing to this, you can do it for the end of the financial year coming up. You can do it for the realignment anniversary of the– when they are working with you or just the fact that you’ve got a new tool.

Stephen Wanmer:
One of the things you’re going to link it into that’s what you want.

Nic Clark:
Yes, so thank you very much.

Stephen Wanmer:
That’s a pleasure, Nic.