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Slide 1
L. Gary Boomer CPA.CITP, CGMA, MAcc
September 5-6, 2019 | Boston, MA
Mindset, Skillset & Toolset…
now & into the future!
© 2019 Boomer Consulting Inc. All rights reserved.
CPA.CITP, CGMA, MAcc
Founder of Boomer Consulting, Inc.
Founder of The Boomer Technology Circles
Accounting Today’s Top 100 Most Influential
IPA’s Top 10 Recommended Consultants
CPA Practice Advisor Top 25 Thought Leader
Past Chair of the AICPA LIDP Committee
Former Member of AICPA Council
Member of The Advisory Board
Member of AICPA Startup Accelerator Panel
My Passion – Your Success & Future Readiness
Contact me at
LGBoomer@boomer.com
Twitter: @lgboomer
LinkedIn: https://www.linkedin.com/in/lgboomer/
L. Gary Boomer
Visionary & Strategist
© 2019 Boomer Consulting Inc. All rights reserved.© 2019 Boomer Consulting Inc. All rights reserved.
• The importance of Mindsets
• Mindset Scorecard
• Toolsets
• Skillsets
• Action Plan
Agenda
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Digital Meeting Materials
go.boomer.com/accountex2019
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go.boomer.com/accountex2019
View Your Agenda
Access Materials
Ask Questions
Fill Out Online CPE and Evaluation Forms
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Select A Session & Join the Conversation
Respond to Poll
Ask a Question
Vote for a Question
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WelcomeTransformers,Innovators &Game Changers
© 2019 Boomer Consulting Inc. All rights reserved.
The Old Game
Information
The New Game
Value
© 2019 Boomer Consulting Inc. All rights reserved.
“Clients today don’t know what they want, because the things they most want are things they don’t yet know are possible. Give your clients the
ability to do what they can’t currently do, but would want to, if they only
knew it was possible.”
--Daniel Burrus
© 2019 Boomer Consulting Inc. All rights reserved.
Thin
kin
g
4. Thinking
3. Thoughts
2. People
1. Things 1.1
X
Dan Sullivan
Jim Collins
Frans Johannson
Steve Jobs
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© 2019 Boomer Consulting Inc. All rights reserved.© 2019 Boomer Consulting Inc. All rights reserved.
BCI VISION:
To be the transformation CATALYST
for the accounting profession.
© 2019 Boomer Consulting Inc. All rights reserved.© 2019 Boomer Consulting Inc. All rights reserved.
BCI MISSION:
To transform by improving the
experience and performance of our
team and clients.
© 2019 Boomer Consulting Inc. All rights reserved.
The Continuum of Value
Transactional
Strategic
Hindsight
Insight
Foresight
Technician
Advisor
Consultant
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Time Money
Relationship Purpose
The Four Freedoms
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Hierarchy of Wants
Transformation
Purpose
Relationship
Money
Time
© 2019 Boomer Consulting Inc. All rights reserved.From the Oz Principle
Accountability
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Mindsets
• Fixed or Growth
© 2019 Boomer Consulting Inc. All rights reserved.
Mindsets
The Cloud vs. The Fog
Management vs. Financial
Accounting
Collaboration vs. Rugged
Individual
Automated Processes vs.
LaborValue vs. Effort
Wants vs. NeedsMultiple Services
vs. Number of Clients
CRM/Project Management vs.
Timesheets
Professional Marketing/Sales
vs. Partner Relationships
Investment vs. Overhead
(Technology & Talent)
© 2019 Boomer Consulting Inc. All rights reserved.
Status Quo
Transformation
Who
How
8
1 2 3 4 5 6 7 8 9 10
Past
Future
1
1 2 3 4 5 6 7 8 9 10
Status
Growth
2
1 2 3 4 5 6 7 8 9 10
Scarcity
Abundance
7
1 2 3 4 5 6 7 8 9 10
Competition
Collaboration
3
1 2 3 4 5 6 7 8 9 10
Time-Effort
Value
4
1 2 3 4 5 6 7 8 9 10
Overhead
Investment
5
1 2 3 4 5 6 7 8 9 10
Ego
Capability
6
1 2 3 4 5 6 7 8 9 10
or
The Mindset Scorecard TM
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Scorecard Today 6 Months 1 Year
1 Past/Future
2 Status/Growth
3 Competition/Collaboration
4 Time-Effort/Value
5 Overhead/Investment
6 Ego/Capability
7 Scarcity/Abundance
8 How/Who
Total/80
Your Scorecard…Name:___________Date:_____
Three “Who” Improvements
Name Focus
1
2
3
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Cash Flow &
Dashboards
Managerial
vs.
Financial
Accounting
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GROWTH…thought leaders
Marketing & BD Marketing Automation
Sales Training
Transitional CTAs Clear Messaging
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Toolsets
• Technology
• Integration
Bo
om
er
Con
su
ltin
g, In
c.
20
18
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TECHNOLOGY…thought leaders
IoT Blockchain RPA
AI Machine Learning
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PROCESS…thought leaders
Intersection of Process and Technology Focus on Consistency
Process Across the Firm
Strategic Continuous Improvement
Process and Upskilling
© 2019 Boomer Consulting Inc. All rights reserved.
GL
Database
PM
PR-HR
Bill
Payment
Doc. Mgmt.
Aggregation
Reporting
DashboardsProposals
Collections
Sales Tax
CRM
Boomer’s Tech Wheel
© 2019 Boomer Consulting Inc. All rights reserved.
GL
Database
PM
PR-HRADP
Sage
Intuit Bill
PaymentBill.com
Expensify
Doc. Mgmt.
AggregationBox
Receipt Bank
Qvinci
Reporting
DashboardsFathom
ProposalsPractice
Ignition
CollectionsQuickFee
Sales TaxAvalara
CRMZendesk Sell
Salesforce
Boomer’s Tech Wheel
© 2019 Boomer Consulting Inc. All rights reserved.
Resources
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Boomer Tools - Connections
• The Project Filter
• Strategy Circle
• The DOS Evaluator
• The Gap Analysis
• The Upside Down Budget
• The One-Page Plan
• The 90 Day Game Plan
• Job Descriptions
• Lean Processes
• Boomer Circles - Communities
• Mighty Networks
• The Boomer Advantage Guides
• Access to CIOs - Peers
• Access to Vendors
• Access to Expertise
• Access to Financing
© 2019 Boomer Consulting Inc. All rights reserved.
Skillsets
• Upskilling
• Unlearning
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TALENT…thought leaders
Organizational Design with Culture and
Engagement In Mind
Communication Explodes
Digital Everything –Performance, Wellness,
Onboarding
Unconscious Bias Is A Real Thing
Learning and Training Are Struggling
© 2019 Boomer Consulting Inc. All rights reserved.
Digital Business Strategy
TransformationNew Revenues, New Services &
New Business Models
OptimizationImproved Productivity,
Client Experience & Existing Revenue
Value Increases with…
© 2019 Boomer Consulting Inc. All rights reserved.
Digital Optimization1 2 3 4 5
Improve
Existing
Revenue
Reduce
Costs
Improve
Productivity
w/o
headcount
Enhance
client
experience
Increase
Asset Yield
Data
analytics,
pricing
Labor, Sales
& Marketing
LSS, training
& technology
Digitize &
Connect
Data
Analytics
Mindsets
Packaging &
pricing
Digitization
Social Media
Lean
Projects,
Workflow &
Video Conf.
Portals/Apps Remote
workforce
Scheduling
© 2019 Boomer Consulting Inc. All rights reserved.
Digital TransformationLess TRANSFORMATIVE---------------------------More TRANSFORMATIVE
1 2 3 4 5
Sell existing
digital assets
(data)
Digitize
services &
products
Agreements
based upon
shared
risk/outcome
Run a
platform
business
Move into
adjacent &
new niches
The Cloud
Selling data &
algorithms –
predictive
analytics
Connecting
machines &
services
Price based
upon
outcomes,
usage &
value
Buyers &
sellers are
connected to
your platform
Tesla –
Powerwall
Performance
& Consulting
with niches
CommunitieslConsultinglTraining
Innovator InnovationManager
InnovationSystemTeam
MakeITUp
MakeITRecur
MakeITReal
BadIdea Disruption Innovation
DO
NO
TCR
OSSD
ON
OTC
RO
SSDO
NO
TCR
OSS
TheInnovationLandscape
© 2019 Boomer Consulting Inc. All rights reserved.© 2019 Boomer Consulting Inc. All rights reserved.
Innovation Strategies
• Best, beats First to Market
• The Master of Reinvention
• Serendipity
• Perspiration
• Underdog
• Ride the Winds of Change
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The Bubbling Company
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© 2019 Boomer Consulting Inc. All rights reserved.
The Evolution of Innovation - Transformation
Event
Reaction
Solution
Tool(s)
Accountability
Idea-New Service
Disruption
Culture
The Idea Factory
The Project Filter
Leadership
Proof of Concept
How
Filters - Criteria
Peer Community
• Expertise
• Vendors
Project Manager
Check Writers
Scale - Grow
Who
Collaboration
Kolbe Synergy
Report
Collaborative Team
Leadership
Marketing-Sales
Improvement
Continuous
Lean Six Sigma
Green Belt
Training
External Review
Project Manager
Team - Client
Sow Grow Harvest Plow
© 2019 Boomer Consulting Inc. All rights reserved.
…but do it fast!
© 2019 Boomer Consulting Inc. All rights reserved.
Charlie “Tremendous” Jones: You will be the same person in five
years, except for the people you meet and the books you read.
© 2019 Boomer Consulting Inc. All rights reserved.© 2019 Boomer Consulting Inc. All rights reserved.
Questions?
© 2019 Boomer Consulting Inc. All rights reserved.
Client Filtering
• Pareto’s Law
• Filters
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Vilfredo Pareto 1848-1923
• 20% of your clients are producing 80% of your revenue.
• Where are you spending your time?
© 2019 Boomer Consulting Inc. All rights reserved.
Client Filtering…
Utilization Appreciation Reward Enhancement Risk Referral
Multiple
Services
Receptive &
Coachable
Financial
Margins
Increases
Capacity
Manageable
Margins
Target
Clients
✅ ✅ ✅ ✅ ✅ ✅
© 2019 Boomer Consulting Inc. All rights reserved.
1. Easy
2. Analytic
Filtering Options
© 2019 Boomer Consulting Inc. All rights reserved.
• Identify Your 5 Best Clients.
• Identify their Dangers, Opportunities and Strengths.
• Where do they duplicate?
• How Are You Creating Value For Them?
• Work Toward Those Prospects For Future Relationships.
Who Is Your Ideal Client?
© 2019 Boomer Consulting Inc. All rights reserved.
• Strong management team
• Quality staff
• Committed to the planning process
• Committed to technology
• Committed to continuing education
• Coachable
• Team approach and attitude
• Reasonable expectations
• Profitable and industry leaders
• Willing to pay for quality service
The Ideal Client?
© 2019 Boomer Consulting Inc. All rights reserved.
Annual Revenue $25,000
Average Life 10
Total Value $250,000
Acquisition Costs
Marketing
Sales
Commissions
Total
Lifetime Value of a Client
© 2019 Boomer Consulting Inc. All rights reserved.
Non-negotiables - What You Won’t Put Up With?
What Do You Want To See Happen?
Your Core Values And Ground Rules.
• Show Up On Time
• Do What You Say
• Finish What You Start
• Say Please And Thank You
Value Creation… Starts with a Few Rules!
© 2019 Boomer Consulting Inc. All rights reserved.
ASK the client and prospect what they want. (DOS)
How will you Provide Direction? - Leadership
How will you Provide Confidence? - Relationships
How will you Provide Capabilities? – Creativity/Innovation
Now… tell the prospect and client! (Value Proposition)
Provide VALUE!
© 2019 Boomer Consulting Inc. All rights reserved.
el fin.
© 2019 Boomer Consulting Inc. All rights reserved.
© 2019 Boomer Consulting Inc. All rights reserved.
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• TWITTER: @ThinkPlanGrow
• INSTAGRAM: @ThinkPlanGrow
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Thank You
Our website is the best place to learn more about our services. Visit: www.Boomer.com