Edmonton Accounting Firm | 7 – 2019.02.02 #BeatTheOdds Boot Camp – Checklists
7 – 2019.02.02 #BeatTheOdds Boot Camp – Checklists | Edmonton Accounting Firm
Systematizing your business. So building systems in your business. Now, one of the, Edmonton Accounting Firm, you know, big kickbacks, when people make it, he started to bring you up Mcdonald’s a lot. People will start saying, I’m not Mcdonald’s. I’m more sophisticated at that. I’m a dentist, I’m a master electrician. Um, I’m an accountant. You can’t systematize my business. I went to school to do this business or um, know seven years, 10 years, whatever it was. And then there was another good, a piece, piece of good reading here. Um, let’s see it by hold this one up. And the guy’s name is a tool go on day and he is an emergency room doctor and a Hopkins Hospital. So the big expensive hospital in the states and he will just shred your arguments to pieces on it because he’s a specialist physician who basically found that simple checklists and templates could reduce, you know, catastrophic mistakes in the operating room, whether even in an emergency room setting. So he absolutely destroys. I’m asking you, it’s like a tie and a couple of good quotes from him here.
I have my go to listen.
So let’s, let’s see some of them. So he is the emergency room doctor who went all around the world implementing checklist to specialist to reduce failure rates and basically save people’s lives by just simple chapter. These are the same people who would fight her on saying, hey, you can’t systematize my business life. Um, we always hope for the easy fix, the ones that will change all the racial problem in a stroke. But few things in life work this way is a success for fire’s making a hundred small steps go right one after the other. No slip ups, goose, everyone pitching in good checklist on the other hand are precise. They are efficient to the point and easy to use. Even in the most difficult situations. Remember emergency room doctor, um, they are, they do not try to spell out everything I checklist cannot fly a plane.
Instead they provide reminders of only the most critical and important steps. The ones that even the highly skilled professional using them could admit Ms. Good checklists are above all practical. We don’t like checklists. They can be painstaking. They’re not much fun. But I don’t think the issue here is merely is amiss. There’s something deeper, more visceral going on when people walk away, not only from saving lives, but for making money. It’s somehow feels beneath us to use a checklist and embarrassing. It runs counter to deeply held beliefs about how the truly great among us, those we aspire to be, handle situations of high stakes and complexity. The truly great or Derek, they improvise. They do not have protocols and checklists. Maybe our idea of heroism needs updating. So he had the data to prove that this doesn’t work. You can systematize anything. And he went on to really study of the industries that actually do checklists.
Well, do you know what anyone would want? Adventure the guest. What industry does checklists better than any other industry on honor retail, the airline industry. Anyone remember the story of both? The guy who, you know, you landed the plane in the Hudson River? Yeah, skull. He slowly, so if you listen to his transcript about how he landed the plane in the Hudson River system, I followed the checklist. Everyone thinks he’s this genius. He had a checklist fall down when he’s trying to allow them this, the middle of New York City and he followed a checklist. That’s how we mine plane. So we want to tell me that we can’t as an account, and I can’t, you know, systematize my business. I’m going to pretend I can’t. Emergency Room doctor can do an airline pilot can do it and it’s not going to make a non account and that account, it’s not going to make a non electrician, the electrician, it’s just going to make an electrician, a better electrician or an accountant and the better account or a retail person up better retail person.
That’s what checklists is designed to do. So we’ve got some checklists here to be a real checklists that you can look at. They’re all kind of notes or any rollers. I’m going to invite Kevin because Kevin has full wholeheartedly embraced the checklists. So we’re going to start with a bad check checklist and I’m going to show you a little picture of Kevin for the man. No, no, you’re too short. We’re going to, we’re not for the faint of heart. So viewer discretion is advised. Just for reference, maybe sensitive to some viewers. I’m going to pull this up. This is Kevin before check this and pull it up. The reward here and he’d send me do anything else. But this is Kevin’s man for
his checklist. Yeah. Yeah. Was He your regular work day? Now imagine running a business with a van like this. You’re laughing. Edmonton Accounting Firm, yeah, it’s, it’s disgusting. And a coffee was costing me a fortune. I mean, imagine having my guys out there. What can you find in that mess? You read what the need can even get the damn there. I don’t think they can time that’s wasted on a job where, you know, it’s a hard dollar job board. It had a certain amount of time to get in there and uh, did they have all the parts can find what they need to. So we’re going to break their back in that thing. Um, that’s, that was it. So thanks Josh. Let’s see, Kevin now post checklists and Kate
everything has its place place forever. So what’s beautiful about this? We’ve got two bands that we set up, Edmonton Accounting Firm, pretty much the same. One, one’s and then the other. Um, but we set up our system here so that what’s the band course coincides with what I have in my, my warehouse space in the shop. Uh, the bins have parts in them, but they have an admin type, a number assigned to them, matches what’s in my warehouse. So when it comes to keeping an advanced thought, you know, I can hire an electrician that knows what every part is and I can tell him to go get whatever and stock it up. Right? But instead we came up with a system of having these bins that have matching numbers so that I can hire somebody that knows absolutely nothing about what the parts are. Remote canyons. You can take my checklist to be go, oh six.
Yeah, that’s a great dare. I suppose that’d be nice, isn’t it? Only got to, we can go off into the workhouse, pull out of the inventory of Vincent’s. Everything jives. So just it makes me, it makes it seamless to keep it stopped and they don’t have to have somebody that has an actual electrical engineering degree to keep itself. Yep. So it’s been a great system and it’s made us so efficient and we’re making more money because of this. So it was worth the time. So Kevin, they have, uh, your checklist, the same ones you got your hand as watch, you walk them through it and showed them the things that it will be forgotten with or how you’re gaining efficiencies. Yeah. This, I mean there’s, there’s condominiums in here that probably doesn’t mean anything to you. This is the bill of material and material materials.
One first. So this is, and this is always a, you know, this is a work in progress even when, as we find new things meet, we add to it. But, uh, he’s Carmen items on here from the first one in this list. That’s a residential one gang. It’s a box. It’s basically the box it’s on them, holds your switches in your plugs. And now imagine I send the guys in to do a basement development and they needed 20 of these and it’s other than a lot, I’m using a little montage as an example because this has happened. They get help there and they realize they’re short term for now. This box is like worth two bucks, but if he’s got to draw it for a month, okay, probably the closest place is going to go to sports Saskatchewan get in the band or I suppose the scan at you and hit the home depot, pick up this two over box, get back out there.
What does that cost me? At least an hour. Uh, there’s two guys and he’s not going to leave the apprentice or maybe, you know, when the cost was phenomenal. Plus the rest of it, we’re not going to get the job done that day or because of the $2 box. Like so many shit kicked me right in the ass. And again, when, where we realized this was happening, um, but a lot of these items in your items when you use every day and not having them in the dam, we able to find them cost money. But also it’s extremely frustrating for the guys. I mean, they get out there and they just want to get their work done. They couldn’t find anything. We spent half an hour a rifle through that mess and then realizing that we don’t have it. Uh, another common problem we run into this is, and we had a bunch of them at the shop. We didn’t stop them hand soap. They run to the suppliers. If they’re in Edmonton or somewhere close by and they buy a bunch more, get back to the shop. You know, we had a hundred of them, we had a thousand. We just meant another hundred dollars, $200, $500 material that eventually I’m going to use it. But if I can’t afford to buy radio [inaudible] mess. So this, Edmonton Accounting Firm, this is just such, such a useful tool and you can do with anything.
Kevin, your office supply ones there. Yeah. And then I see like the, uh, um, basement Ruffin inspection checklist, a basic rough. And so I think people see, you know, what a difference made on the man. But some people will look at this and say, okay, where’s the electrician know how to do that? And I was looking for a particular quote from blonde named but wasn’t quite there. And he starts talking about how the complexity of our modern world has exceeded our ability to measure a high, um, every, you know, everything has a specialty in a sub specialty to the soul. Any steps that you can’t memorize it. Um, and it’s not really practical to memorize. So, you know, expecting that every electrician has been remembered every time it was ridiculous because we’ve seen that they, the most skilled physicians in the world cap, remember the most basic, uh, some of the most basic safety things. So look at this basement rough
in checklist. Nope. Do you have a song idea is if you missed one of these, you know, what can happen. So when we do our rough inspection, this is an in house or basement, what have you, um, you know, we put all our equipment in the voice box and run a wire in that no drywall has been put up yet. So we don’t check what’s been done or the guys that have done something that again, they thought was right or they forgot something. And I see. Yep. Okay, good. We hadn’t, we had the electron spec out for what he saw. What’s great, well, he has, he really doesn’t know what buildings drywallers coming in, brought a little basement, painters, committee, paint everything. We’re ready to go in and do our finishing. We put all the devices and I realize, okay, we missed a crucial plug or switch over here guys.
You didn’t run the right way or from here to there. The cost of fixing this, do we have to get dry? We’ll open up the customers. Lost confidence. Maybe we’re working with a general contractor. He’s pissed off because it’s delayed everything. You know, we’ve got so many other dreams moving parts involved. Some of these become a safety issue as well. So, um, putting this checklist together, you know, it can take the guys five minutes to go through this end. Part of my site visits. I make a point now when we’re going to do go through this checklist, I’ll pop in, I’ll say, okay guys, let’s go through this. You have all your boxes, 12 inches off of Clark. Perfect. Go run a measurable, wait a minute. Why is that? When 13 might not look like much when the walls not in front of it. Imagine if you’ve got a rural plugs here in knowledge, different heights and you can happen to that.
Looks like hell. So something as simple as that. Everything I put on this checklist, we’ve ran into this issue after the fact, or I forgotten to do it myself because I’m like anybody, I’m forgetful and it’s a, it used to ask the guys how, how did you forget to do that? And then I realized, well, I’m not giving them the tools to succeed. This checklist, it’s, it’s a tool for success. And so you have that, you know, daily job in progress, close up checklists. How would that affect the customer service? That’s a beauty. Nothing worse than getting a phone call at five o’clock, six o’clock. Maybe it’s in the summertime and it’s a customer gets swollen when we’ve been doing work in the house, but there’s the living in it and uh, they go to turn my lights on and nothing happens. They go to turn the dryer on. It doesn’t work. That was turned their stolen. It doesn’t work. I’m like, why the heck is going on? And that’s because something as simple as the guys forgot to turn on a breaker in the electrical panel, you know. And one thing, it’s embarrassing. Sometimes we get asked the homeowners comfortable. We can get them into political per acre on way and they’re back in business. But this kind of thing should not happen.
The uh, housekeeping thing, you know, I always tell that this is my belief. I’m going to electrician. My business is, we were in the customer service industry. Okay. My, my, my highway is, is through electrical work. So any good electrician should be able to do the work we do. Fair enough. Right? But what are customers going to remember us for? The Msci left in the basement, right? Did we scratch your countertop? Did the guys have the tools left on your, uh, and your new cooktop? You know, these are the kinds of things that get remembered for. So, uh, we’re, we’re working in the house. When we left the extension quarter and of tripped on just the wheel fell down the stairs. If housekeeping is such a huge thing, I mean, we want to begin, we want to be out and mingling. Reading there you wouldn’t have, the job is still in progress.
So checklists is beautiful for housekeeping tools and materials put away. Uh, where were we in your basement? Had some of these tiles and we put them back in other fingerprints all over the walls from their grubby hands. You don’t want to see that when you come home. This is what you’re going to remember us for. Yeah, everything works. But they made a hell of the mass from Hanukah problem. Again, I’m not going to recommend that to anybody. So let’s look through this. Like if it comes down to I can memorize it and I categorize it. We just can’t memorize these things. And this is not even the most complex tasks that the right to do. So look, let’s look at a guy, you know, he’s going to need the band checklist because he’s going to take the van to go out on a date. Let’s say he’s got a basement and rough in jobs.
So he’s going to use this one today. And there’s also a close out checklists. Let’s start looking at how many things that are to think about here. So on each thing of the bad checklist, there’s probably 30 lines at one, two, three, four, five. You know, we’re talking about 150 things that they’re supposed to commit the memory, 150 things that you’re supposed to commit to memory. Then on the basement rough and checklists, we got another, you know, another 60 lines. Okay. Um, now we have 210 things are got to remember. And probably another 30 things on this silver talking, you know, 250 line items at this guy as opposed to remember every single day on good days and bad days, the days where they just kept it up and days when he’s fighting for his life, the days when the customer is on him for days when the demand wouldn’t start getting on the road. And there’s 10 settings, there’s a stove and he’s supposed to commit to memory 250
line items. Deliver top quality service. Yeah, it’s unfair. I can’t expect that. That’s what’s, you know, not going to happen. So we have a couple of, these are good examples of checklists. New Year we talked about operations manual. The operation manual is generally consistent of checklists and templates. So I’ll give you right now, Edmonton Accounting Firm I like a template in there. It’s request a new client information email template. If I give you guys this one specifically, it’s one from our firm. Um, because it’s probably something that you could probably use or modify for your own business. Did they not get this one dude? Who did he call you? Throw up your hands and that bring up the bypass system. Well, Kevin gave me some really good examples of checklists. This one’s a really good example of a template. Probably something you can use it
someone emailed the inquiry into our firm. If we have the phone number, we’re going to pick up the phone and call them and sometimes they don’t have their phone number. You have their emails, but you can have a spot so we first have high client. Thank you for Angela Center from explanation mark will be can communicate emotion in an email. You have to communicate some motion. You’re happy this person reach out to you. Yeah. We are excited to write a free call salt with one of our CPA managers to see how we could help your business. Right? A reliable fixed speed. Nothing both for our services. You see what I’ve done there? Yeah. They’re getting a free consult with CPA managers and we’ve already sold one of our benefits. Fixed monthly fees. This is very, very intentional. This is not bad. It ensure we are prepared to offer valuable advice during the consult.
Please answer. The query is blow. We know if we don’t ask the whole why we’re asking information, the more likely to get, you know, people have actually done studies and on compliance and one of the big factors on getting someone to comply is you actually give them the reason of why you’re doing something. If people understand the reason that more likely to do it. There’s people who actually didn’t post it up there on the street corner. One Guy, a psychologist did this, the greatest name but have to look it up, but he had like a $20 bill and ask people for Change and very few people would give them for change, right? And then he asked, well, Hey, I have 20 bucks, can you give me change? Right? You pay for parking. The compliance went up through the roof significantly, like three or 400% of the minutes for quiet.
But then they said, hey, can you give me change? What was really interesting is that can you give me change because I don’t like how a bill’s feel. I like the weight and coins feel like it’s just something completely nonsensical. Reason the compliance was almost the same. Whether they gave a really good reason or a really bad reason. The focus was did they give a reason period? So you’re going to ask them or something. You know, it’s a good idea. Sometimes we give them a reason why you’re asking for it. Um, then please select from the available time listed. If you prefer to answer your question by phone, feel free to go us a call at the number below. We got some people fall off and go, this is a lot work. I don’t want, I don’t know if I want to do this. So we’re trying to capture those people.
So we have all the things that we need to ask. Sometimes we’re deleting some of those. Please confirm the spelling of your first and last name. What is your cell phone number? Where did you hear about our firm? Sometimes we know these answers. We’re going to delete these things if we already know them. Okay. Um, and then we prefer to do our initial meeting you in person and our downtown Edmonton office. However, we can accommodate an online meeting for required. Either way. Our next available time slots of the next, either we give them two weeks or 10 psi times plus in the next two weeks that are currently available are. This is like the power room. This has nothing to do with templates. Do you know how many messages to saves us back and forth beginning me 10 slots. Most people will get it. Can you meet some kind of around Monday?
Well, I’m not that good that they have of the night. I want to end the email correspondence. I want to spend as much time helping people with business plans and financial plans and meeting with clients, not going back and forth with emails with scheduling things. Okay, so I give them 10 slots. 10 meeting slots can start one of them clean. We’re not looking at another campus or pick up the call. Please note that our meetings lesser clips on a first come first serve basis. We recommend that you select a couple of potential meeting times of possible. If none of these times work for you, we recommend getting our office is called to inquire about our future availability. Please remember to indicate if you prefer to meet in our office or meet using our free online software, we are excited to meet with you and look forward to your response.
Hap, what do you think would happen to my emails if we left the person at the front? Make them up on the fly each and every time. It’s a creative flair. You know how much thought went into this? Two, three, four hours and now we’ve talked about five seconds every single time because just pump a mountain at that level is there is every single time. Um, and even if we put effort into it, we couldn’t do it at that level. Okay. That comes back to attention. So this is something you have any of you have queries where people reach out to for quotes, I would start with this and manipulated to fit your business. Okay. This is a good one. That’s why. So this is really brought up cause I think it’s something a lot of you could actually use. And that 10 times slots member, again, the order, which I did, we did the calendar second.
If you don’t have your calendar, you can’t do that. Okay? You have your calendar, you can do this. Okay. And time slots. Now got, I don’t, I haven’t created an endless email chain. I have created an appointment. Right. You know, spend time with someone and see what they need. Okay. Now the other one I gave you is a kind of a checklist as well. Okay. It’s a phone checklist and let’s go through it because this again is another type of checklist that people can probably utilize in their day to day business. Okay. So what is the very first name? The phone checklist.
Smile when you talk to me. So do you know that people can subconsciously know the pitch of your voice? They can recognize it as a picture of your voice. If you’re smiling when you’re talking to people, they can’t see you. All they can do is hear your voice and subconsciously they can recognize it for smiling. Yup. And again, compliance is likely to go up. So smile when you talk. I don’t care what business you’re in, how you get those criticals that are grumpy. [inaudible] Bob, I don’t want to deal with Bob Anymore. Like I said, he lost me five minutes. I don’t know Bob’s a good guy to deal with anymore. They go, hey, thanks for calling John’s electrician who were happy to do. How can we help you today that it’s complete game came here. Do you think that doesn’t matter? You pick up your phone like that, you’re just losing sales and you’re spending thousands of dollars in ads to get the phone to ring and you can’t smile when you talk.
You just being lazy, I think. Um, so thanks for calling. Sterling associates are professional accountants. This is so and so. This is Josh. How may I help you today? Today. Okay. Uh, and then the first thing is great. I can help with that. Can I start off with your first and last name? Get that person’s name. When they call, they might, they might get distracted. That might have to leave the phone in the mid. So you get the first and last name first. Can you confirm the spelling of your name for me please? Last time did you can do this. You can find it later. Call it a stroke or something. Got Spelling of the first and last name. We’re going in order of importance. Um, you know, if we still don’t know what we want, um, you know, fantastic. What can we help you with today?
We have some enthusiasm there. So this is a phone script almost every visit and needs phone script. A great I can help you with that. We want to ask, how did you hear about us? Get that question. I’ll tell you spent so much money to get the phone number and figure out how they heard about, um, awesome. I could schedule it for a free car salt. Let me just ask you, let me just ask you, is the power of group on the phone. Let me just ask you. So if you ever get off script you can use, let me just ask you so, well I just want to know how much it costs. Great. I can help you with that. Let me just ask you, you can almost read wire, any conversation. I’ve actually met with the call center guys and they gave me this trip that as their own script, you know it’s it.
Let me just ask you, it is just like the line that was, it can be serious. It’s how you do it. Yeah. Here it is. Isn’t calls hundreds of calls. They do it. Every tech things redirect and back down when the script from the person who is perfectly happy to do so. Let you ask, let me just ask you is like the power line that I can’t explain why it’s right. I just know that it’s right. So you eat a certain amount of information. Do you want to get out of them and they’re focused on one particular thing that you can’t help them with that particular thing. You can only answer the rest of the questions. He said, great. I can help me with that. Let me just ask it in a right back on Skype. Okay. Uh, if they asked for price, this is a little bit different, but some people just going to be a lot of this in business.
You get people calling around looking for price. And in most businesses you really probably can’t quote them until you to vote no more information. Um, something that is a little bit different, but lots of times it’s, you can’t give them a price but you know, information. So we go first. CPA rules require complete understanding of the client before 40 and praise. That’s actually a really cool dude. We actually can’t give them a quote till we don’t. Um, and we provide, we offer a free causal to give you reliable boat. So these are the tools that I have for my people to do, deal with these objections or deal with these queries. Um, you know, if necessary, we’re going to go with the bare bones, we’re going to get them, you know, we have packages starting at $84 a month. Okay. Um, because we want to get them in and get the consult from.
The odds are chief as jumping off points, so they’re not going to come in for that. Who Cares? Um, work performed can vary on the circumstances. We’re currently offering a free bestselling book with your consult so we can prepare for the initial meeting. Uh, can I email your next available time for the last resort? You don’t go to the email, you know, get that spin to them right away. We get the call. So unless the person insists on getting off the phone, if you could have a lead that calls in, do not say, hey, yeah, no problem. I’ll email you. Oh, times. Ah, you’d have just reduced your chance of getting that person in for an appointment dramatically. Don’t do that. If they want to get off the phone, we don’t help them out with that. Right? Something’s going on. But don’t tell them lean.
And they just called you. They didn’t want to create this email chain. I went back. It’s not a thing. This is one where some of you are going to get into as you scale your business, you can’t take every phone call, every person who calls up to talk to you wants to talk, Josh. Okay. When they call us frozen, I don’t wanna talk to Joe, but guess what? If Josh answered all the calls, my service would suck because I would never be able to improve it every morning. And none of them are higher. People who chancellor, if one of my clients asked me a question, the first thing you have to do is go and ask the person who’s working on the file, what’s going on? So going through me is this kind of a backwards loop and it reduces my service, um, because I’ll never get a better service.
I won’t be learning this stuff that I’m teaching you today. I won’t be making my templates better. Um, that’s, that’s an important thing. So how do you rewire these people? Josh has and backer back the beatings. So the next day or two, you guys can see my calendar. That’s actually honest truth. Um, that’s what’s going to happen. Uh, can I ask you what it’s about? There may be something I can help you with. Now. You found out what it is. Okay. Can I please show you a quick call to see if your dedicated team can help? So maybe if you have something in there, I’m not sure when Josh from return calls, there’s something I can get in front of them. So now you said this is the person’s link into that person is getting in front of me, uh, to ensure you’re look after last resort and it get your pencil in for Joshua’s next available appointment.
I have all the time in the world through with my clients. I don’t have all the time in the world answer small query because then I wouldn’t have the many meetings will be use with my clients. So as you start scaling your business, if you’re not the one who wants to answer these calls all day, here’s how you got to start redirecting them to the team. That’s going to be a bit of a transition because you know, the client thinks they’re going to get better service going through. Chances are when you’re scaling your business that people truly understand how that works. Probably start to understand that Josh might not know again. So I’m going to ask me first thing I’m going do, I’m probably going to go with Kevin asks me something. I’m probably going to ask it. Where are we at with this? That’s my very first question.
So you might as well then you go to that person’s probably gonna work better. You don’t want to leave with this to Josh is um, you will get people on the old that are just time. They will just steal your time. Mation and this is great because I mean, I’m still the person who answers the phone. So, um, having something like this allows me to be able to hand that pass off the whole, the whole goal here is to be able to separate yourself from your business. The business could run and you can go on a holiday. I haven’t been on holiday and four years except when we shut the business down. Yeah, yeah. Is that where you want to be as your business girls? Do you want to be married to it? I’ve already got one wife, I didn’t.
So then the next page, we have all the information that we want to get from a new fine. You need this guys. There’s so much things going on in your, in your brand you need, if you have a client and you’re not going to give them some sort of proposal, there’s certain things that are necessary for you. Not Too much. You don’t want to have a three page questionnaire. They’re gonna hang up on you every time. You’ve got to balance that. You know, I’m asking very particular things. Name Your Business, cell phone, email, the type of work. How many employees do you have when you’re looking for help with a change in the next 24 months? Getting the appointments, telling the address and get them in. Very sustaining for the buck. We don’t miss one, but what if we miss the email? I can’t confirm the meeting now.
I’ve reduced my attendance rate dramatically if I can’t confirm the meeting or it happens, so we’ll get no way. In any profession you can operate at that level. If you haven’t systematized once, you can, even if you have work that you can’t system advise, if you’ve saved your intellectual capacity to work on the things that can’t be, you’re going to be smarter than the things you have to figure out. Okay. I wear the same thing every game, every single day. Have a dry cleaner cause the least amount of effort you can spend on decisions that don’t matter, the better you’re going to be able to, you know, function in decisions that do. Okay, so not just from systematizing how you answered the phone. So I’m not an anomaly. We’ll read this 400 different people to try this and they were at the same thing every day. I have to dry cleaner. That literally comes to the office. I have no idea what he charges. It’s not relevant to that getting back on time, but I’m just doing it because I don’t want to make, I want to make as few decisions as possible because I know I’m going to have to make some key ones that I don’t want to have all that juice because it’s the pleading asset everyday ready for those ones that matter. So those are some of the checklists. Um,
some of these checklists will be so valuable that you won’t get them out. Kevin’s working on have one that we call the secret sauce. It has to do with our, with, with our pricing and our systems and needs replacing. And if you get that up and running, what’s that going to allow you to do? How’s that going? Did you get, is time freedom? He will be at a point where my staff will be able to praise Joe Hobbs on location. And uh, not only that, it’s, that’s, that’s the end goal. But at the same time for me to be able to do my coding, it’s so consistent because this is the unit, this is what we do it, we’re going to be automated recurring quotes and estimates on quick books, pull it, pull that item down from the dropdown menu, populate the court. I mean if there’s a leak, there may be some variables to, but right now everything is coded based off of my experience and past information that we have that we used to create our estimates. So it’s again, without me it doesn’t flow. It doesn’t work. So yeah, that’s the secret sauce and it’s going to be good. Yeah. We have one, uh, throw, this is one that I,
I don’t hand out here. People can,
our financial plan, we are uh, uh, old toot. Our own horn today is, I don’t know what else though. Um, we’re probably the best small business tax planners and the whole stage. We’re a small firm. One of the things that we don’t do well, we are not particularly good at audits because it’s not what we focused on. Multi-Jurisdictional Audit. We’re not preferred for you if you have a $10 million s, you know, shred claim for research and development. We’re not the best word for you in terms of small business tax money or fantastic as the reason why RBC brings me in to talk on it and Scotia Bank brings me in to talk on it. And it’s not because I know more than the other tax experts, it’s just because I’ve developed a system and protocol that we can get tax planning right each and every year for every client, no matter who they start out with, another friends that depending on who they’re talking to, what time, uh, but we get it right every year.
You know, we have a systematic approach where we start up with the client’s objectives. We find out exactly who they are, how old are, how old their kids are, if they’re a US citizen or not getting all these information. And you think about how it’s built over the years. This document used to be five pages long. Now it’s 30 pages long and we just run through with the client and we get all the information they need because CP, the way they teach you in CPA is that they give you a five page case study and the client has everything you need to know about the client. Um, and I tell my guys supposed to go through the CPA program that never happens in real life. The client never in with five bowl written pages of everything you know about them is never going to happen. So you need to be able to peel away the onion.
You get that back on. Okay, we look at who their advisors are. If we need to coordinate with their advisors, you are walking through a more detailed approach of what we kind of did as a group here, their personal assets and liabilities and we’re getting into things like that. They’ve improved property. What are the rates because there’s significant significant tax planning initiatives that come out of this. Um, and then we’re going through, you know, what else is on the personal balance sheet, what are their business projections and sleeping before business plan, what’s happening in their personal tax life, what’s happening in their general recommendations? How much money did he take out of the business? You know, should they do any debt repayments? Is this going to work from a cashflow perspective? What sort of insurance that need to have? Um, and what’s the savings and retirement projections are SBT of the space.
We tell them exactly how much they’re going to save in tax on it. Um, and then, you know, one of the things that we do in the, we tell them what makes you a salary dividends member. I told you if anyone asks you to the salary given in school question right away, they don’t know enough about it. In order for me to answer that for business owner, I need to know everything that was on that piece of paper before that and done some significant calculations. Can we even have the calculation process? Uh, you know, uh, automatize and people like, was this really good? So most business owners would get it and we can save them five, 10,000 bucks in tax, you know, pretty easily even the smallest of small businesses and they’re bigger. Normally it’s more than that. Different ways that we can save. In fact, one of the ways we can save the fact is capital dividends.
I’ll give you a story on this and this might not resonate. So there’s savings for small businesses, but we had a guy come into our office, he’s worth over 20 million bucks, super high net worth guy. And uh, he had the ability to take a tax free capital, did it at three point $3 million in this corporation. It was a one point $4 million tax savings that I found for now. What was impressive is not that I found it, I mean maybe brought it to another tax expert. Maybe he could have done this homework and they found it. What was impressive as I found it using the exact same system and protocol and template that I will use for Joe, the plumber when he comes in on his first day of business, this guy had been sitting in a big, you know, big four firm paying big form prices.
We were just able to execute at a higher level or better price because of a system of five when we didn’t have to use, it was just all a pilot. Like it was easy for us to fly and we just been building and throughout the years. And so that’s how you’re a little business can be the best in the world at something. You know, I’m not a huge firm. We don’t, I’m sure those guys at the big firms that are smarter than me, but my checklist is better. That’s it. That’s what it comes down to. Him and other business owners are so arrogant thinking that they can know everything that they ended up not doing it all right. Um, we’ll go right down to what tasks need to pay to do it. And it all just relates back to assist system. It was only a system.
Now this document is still valid. We never had note and never get it out of. Clients can get in when they get it. I suppose someone could finish want to give it to somebody. We’re going to make it a little bit difficult at least if somebody wants to copy yet. Um, so that’s, go ahead. Yeah. Just out of curiosity, this, we in that and you’re calling him information that you’re collecting, are you using any kind of software to do that or is it purely just word documents or we’ve not, yeah, most business owners would get lost in software. They don’t need until a certain scale and multiple business owners wanting to adopt something like salesforce or some sort of database that is super useful at some scale. But usually that scale is way different than what they think that it’s useful.
How do you make this difficult being propagated further bio clients? Yeah, I do actually predict that. It still goes back to like, this isn’t going to think of non account and the account, you know, we have, you know, people have been working on our firm for years and they’re still learning how to do this better than better all the time. Right. So even if I gave someone this document, they actually wouldn’t, it wouldn’t be usable on day one. They, they’ll need training on it was that second one is don’t implement it. They’re not going to Mosul. Enablement. How much free information did you guys get here today?
How open was this? Who could have came to this event? How many showed up at 8:00 AM two 22 yeah. We knew it was going to happen on purpose. They made it a, I want to give it to anybody who calls them to show shoulder. We don’t see any competing spies and heroes are for you. I even saw other, yeah, there were some of my competitors are signed up. Uh, I said, fuck great. We’ll see you there. I don’t care. I just think they’re not going to execute it. Ideas are cheap and execution is everything. There’s so many girls and the coaches out there cause they’ll be all this game but only very people that yeah, look at the bottom. You’re not be there. Yeah. The implementation is the top frame. Why we started with the schedule. Because if you’re going to implement something, it’s gotta make sense on the schedule.
Any idea’s great, but could you get that idea onto a calendar that’s like step one, right? Prepare, be prepared for the, the, the carnage that’s going to happen to being an entrepreneur. Thinking onto a calendar. Step two. Right. Um, so you can, you could give someone your entire playbook. Are They gonna? Are they gonna catch me? I mean that’s the thing. It’s a snowball. It’s a, it’s a teammate gets very, very difficult to, to catch anybody after awhile. Josh, I think too, it’s important to know that I’m like, it took us a long time to do these. So you might try it, but time and it doesn’t work. Try it a few times. It might not work. We used to have a phone questionnaire. It was ridiculous all over the place to find the questions. We had to read what we were supposed to save before.
So there’s like this pause while we’re reading to try to find out what we’re supposed to get through the client and we use that for a while and then paired it down to this kind of, what have you noticed my phone script here? This is very important for bones with they should be released the same. Everything is one line. Every breath of every sentence that needs. Exactly. Cause we tried a bunch of us in spaces into a paragraph that’s going to be difficult. So if you walk through our desks, you have this answering the telephone and on the back they have the questions we need for a new client. You don’t know if our power goes down, you know we can answer the phone and we can actually get that information. It’s the one thing probably be up in paper. Giant workstations, giant monitors. It’s actually the laminate desks, but it’s, you can get to it right away.
You can get buried into it. Yeah. So, I mean, this has been around, some of these principles have been around forever. Uh, you know, for everybody is the soul of wit. Anyone know where that’s going to come from? Looking back to Shakespeare on that one, wherever it is, the soul, the point. So yeah, I could say this in a more way to say it really succinctly to, um, so that’s what some of these checklists you need to be as succinct as possible. You know, it takes, it might take 10 minutes to do a phone call if you’re not prepared, if you’re prepared, it might only take you two minutes. Okay? Because it’s not just saying it, it’s the same and the least amount of words possible. You know what I think is so key development of businesses, you know what you do well, you need to be able to replicate it because as soon as your customers know what you do well, wanting it and you’re going to want more and more of it, all of a sudden when you’re overwhelmed and you can’t replicate what you’ve done yourself personally, if you don’t have a system that works, so they people, you’re setting yourself up for burnout, failure.
Eventually you need what you have created because you love it. Yeah. So remember the cat finding the customer, Vernon and the cash can’t by the right team. The next session that we’re going to deal with, we come back to the book calf, right? And Reiki is so important and I’m going to show you some numbers on finding the right team that’s going to go against the grain and probably everything you heard about how to hire people and how to build a team. I’m going to show you what that, what you can do differently in terms of hiring your team. So I will take the full 15 minute break and come back on the hour. Guys.