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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

[email protected]

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


Digital Meeting Materials

go.boomer.com/accountex2019


go.boomer.com/accountex2019

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Access Materials

Ask Questions

Fill Out Online CPE and Evaluation Forms


Select A Session & Join the Conversation

Respond to Poll

Ask a Question

Vote for a Question


WelcomeTransformers,Innovators &Game Changers


The Old Game

Information

The New Game

Value


“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


Thin

kin

g

4. Thinking

3. Thoughts

2. People

1. Things 1.1

X

Dan Sullivan

Jim Collins

Frans Johannson

Steve Jobs


BCI VISION:

To be the transformation CATALYST

for the accounting profession.


BCI MISSION:

To transform by improving the

experience and performance of our

team and clients.


The Continuum of Value

Transactional

Strategic

Hindsight

Insight

Foresight

Technician

Advisor

Consultant


Time Money

Relationship Purpose

The Four Freedoms


Hierarchy of Wants

Transformation

Purpose

Relationship

Money

Time

© 2019 Boomer Consulting Inc. All rights reserved.From the Oz Principle

Accountability


Mindsets

• Fixed or Growth


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)


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


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


Cash Flow &

Dashboards

Managerial

vs.

Financial

Accounting


GROWTH…thought leaders

Marketing & BD Marketing Automation

Sales Training

Transitional CTAs Clear Messaging


Toolsets

• Technology

• Integration

Bo

om

er

Con

su

ltin

g, In

c.

20

18


TECHNOLOGY…thought leaders

IoT Blockchain RPA

AI Machine Learning


PROCESS…thought leaders

Intersection of Process and Technology Focus on Consistency

Process Across the Firm

Strategic Continuous Improvement

Process and Upskilling


GL

Database

PM

PR-HR

Bill

Payment

Doc. Mgmt.

Aggregation

Reporting

DashboardsProposals

Collections

Sales Tax

CRM

Boomer’s Tech Wheel


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


Resources


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


Skillsets

• Upskilling

• Unlearning


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


Digital Business Strategy

TransformationNew Revenues, New Services &

New Business Models

OptimizationImproved Productivity,

Client Experience & Existing Revenue

Value Increases with…


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


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


Innovation Strategies

• Best, beats First to Market

• The Master of Reinvention

• Serendipity

• Perspiration

• Underdog

• Ride the Winds of Change


The Bubbling Company


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


…but do it fast!


Charlie “Tremendous” Jones: You will be the same person in five

years, except for the people you meet and the books you read.


Questions?


Client Filtering

• Pareto’s Law

• Filters


Vilfredo Pareto 1848-1923

• 20% of your clients are producing 80% of your revenue.

• Where are you spending your time?


Client Filtering…

Utilization Appreciation Reward Enhancement Risk Referral

Multiple

Services

Receptive &

Coachable

Financial

Margins

Increases

Capacity

Manageable

Margins

Target

Clients

✅ ✅ ✅ ✅ ✅ ✅


1. Easy

2. Analytic

Filtering Options


• 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?


• 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?


Annual Revenue $25,000

Average Life 10

Total Value $250,000

Acquisition Costs

Marketing

Sales

Commissions

Total

Lifetime Value of a Client


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!


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!


el fin.



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Thank You

Our website is the best place to learn more about our services. Visit: www.Boomer.com

mindset, skillset · • mighty networks • the boomer advantage guides • access to cios - peers...

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