{"id":54117,"date":"2018-03-24t10:00:49","date_gmt":"2018-03-24t14:00:49","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=54117"},"modified":"2018-03-30t13:22:32","modified_gmt":"2018-03-30t17:22:32","slug":"link-strategy-winning-value","status":"publish","type":"post","link":"\/\/www.g005e.com\/2018\/03\/24\/link-strategy-winning-value\/","title":{"rendered":"the link between strategy and winning on value"},"content":{"rendered":"<p><strong><a href=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/08\/search-for-value_fjzx1ddu.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-49848\" src=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/08\/search-for-value_fjzx1ddu-424x283.jpg\" alt=\"\" width=\"424\" height=\"283\" \/><\/a>one is a tool, not an end itself.<\/strong><\/p>\n<p><i>by domenick j. esposito<\/i><br \/>\n<a href=\"\/\/www.g005e.com\/shop\/esposito-8\/\"><i>8 steps to great<\/i><\/a><\/p>\n<p>there is a wide chasm between talking about value and making your firm a value-based-firm (\u201cvbf\u201d). the first step in transforming your firm from just another accounting firm to a vbf is to develop the strategic framework that will consistently deliver value to your clients.<\/p>\n<blockquote><p><b>more on strategic planning: <\/b><a href=\"\/\/www.g005e.com\/2018\/02\/22\/mine-vs-vs\/\">mine vs. yours vs. ours<\/a> | <a href=\"\/\/www.g005e.com\/2018\/02\/07\/pitching-vs-pursuing\/\">pitching vs. pursuing<\/a> | <a href=\"\/\/www.g005e.com\/2018\/01\/10\/mas-fall-short-expectations\/\">the top 11 reasons cpa firm mergers fail<\/a> | <a href=\"\/\/www.g005e.com\/2017\/12\/06\/growth-difference-disruptor-disrupted\/\">growth: the difference between the disruptor and the disrupted?<\/a> | <a href=\"\/\/www.g005e.com\/2017\/07\/30\/ma-sometimes-bigger-better\/\">m&amp;a: sometimes bigger is better<\/a> | <a href=\"\/\/www.g005e.com\/2017\/05\/25\/value-proposition-truly-isnt\/\">what a value proposition truly is (and isn\u2019t)<\/a> | <a href=\"\/\/www.g005e.com\/2017\/04\/27\/firm-need-independent-executive-committee-member\/\">does your firm need an independent executive committee member?<\/a> | <a href=\"\/\/www.g005e.com\/2017\/04\/06\/10-ways-link-compensation-strategy\/\">10 ways to link compensation and strategy<\/a><br \/>\n<strong><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-49700\" src=\"http:\/\/4f2bur4nuye2cgakm2rm61qk.wpengine.netdna-cdn.com\/wp-content\/uploads\/2016\/08\/yellow_key_clip_art-e1375897299811-36p-hi-1-e1470686574894.jpg\" alt=\"goprocpa.com\" width=\"39\" height=\"16\" \/><span style=\"color: #b79c00;\">exclusively for pro members. <\/span><\/strong><span style=\"color: #b79c00;\"><a style=\"color: #b79c00;\" href=\"\/\/www.g005e.com\/wp-login.php?redirect_to=\/\/www.g005e.com\/2018\/03\/24\/link-strategy-winning-value\/\">log in here<\/a> or <a class=\"external\" style=\"color: #b79c00;\" href=\"http:\/\/goprocpa.com\/\" target=\"_blank\" rel=\"noopener\">2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n<p>there have been tons of articles written about strategy, its importance and multiple \u201chow-to\u201d models. in many articles, the discussion focuses on creating that \u201ckiller\u201d strategy that will propel your firm to stardom and unlimited profits.<br \/>\n<!--more--><br \/>\nstrategy is presented as the driver of top performers and although important, strategy is a step to the true driver of firm performance \u2013 value. the bottom line is that <strong>you win on value<\/strong> <strong>\u2013 not on strategy<\/strong>.<\/p>\n<p>let\u2019s begin by understanding the strategy model that firms should use to develop their strategic initiatives for the next few years.<\/p>\n<p>an explanation of each bucket and the logic of the flow:<\/p>\n<ul>\n<li>growth \u2013 what is your top line goal and the key strategies to achieve the goal?<\/li>\n<li>organization\u00a0\u2013 what changes are necessary in your organization (processes, systems, etc.) to support the successful achievement of your growth goal?<\/li>\n<li>people\u00a0\u2013 what talent do you have and\/or need to achieve the growth and organizational goals?<\/li>\n<li>profit\u00a0\u2013 what is your profit goal given the above and what are the key performance metrics that need to be achieved?<\/li>\n<li>leadership\u00a0\u2013 what structure of leadership and management team is necessary to drive the successful achievement of all the above initiatives?<\/li>\n<\/ul>\n<p>another way to look at it is the model presented above creates the framework to deliver on your firm\u2019s value model (\u201cvm\u201d) \u2013 what you have chosen to set your firm apart from your competitors and to win new clients on value and not price.<\/p>\n<p>building your strategies within this model connects and aligns all the important pieces of the firm and ensures that all aspects of the firm are working in unison toward the common vision and strategy \u2013 fully supporting the vm that is critical to sustainable success.<\/p>\n<p>so how does this strategic planning model relate to value? whatever your decision is relating to your firm\u2019s vm, to differentiate your firm from all others, it must be grounded in and supported by the strategic model that drives the organization and its people. any vm not linked to and supported by the firm\u2019s strategy and organization is just another slogan that quickly ends up in the graveyard of useless slogans that so many firms have created.<\/p>\n<p>why? in simple terms, the vm has to be the living, breathing culture of the firm \u2013 engrained in every employee, supported by every system and process, consistently and visibly delivered in every interaction with clients, prospects, cois and anyone else who matters to the success of the firm. it is an attitude, the mojo of the firm.<\/p>\n<p>your vm has to be based on what your clients and prospects value and not on what you value, not on what you do and clearly not on promising quality and service. in order to make your vm a reality and something that not only resonates with your clients and prospects but that also is part of your firm\u2019s dna, the strategic model outlined above is the planning framework to create that reality.<\/p>\n<p>let\u2019s think about why. many strategic planning models are based on some form of swot. while important, it too often results in the focus of planning on opportunities and threats without any real linkage back to how the firm actually operates. all planning needs to look at some variation of swot in order to create a strong baseline regarding the current \u201cas is\u201d of the firm. however, planning based on just opportunities and risks without a clear and strong linkage to how the firm actually operates will fail to achieve the desired outcome \u2013 every time.<\/p>\n<p>most strategic plans include a vision and mission statement component. although necessary, the third and most important component is missing \u2013 the vm.<\/p>\n<ul>\n<li>vision is about who you are as a firm.<\/li>\n<li>mission is about what you do as a firm.<\/li>\n<li>value is about what you deliver as a firm.<\/li>\n<\/ul>\n<p>all three are essential to a closed-loop structure for strategic planning. to ensure that your firm\u2019s vm is real and that it delivers the promised value to your clients every time, complete these five steps to value planning and see your wins as well as client retention soar:<\/p>\n<ol>\n<li>scota \u2013 start with an objective understanding of the \u201cas is\u201d of the firm \u2013 what are your strengths, challenges, real opportunities and finally \u201ctargeted actions\u201d or what initiatives will be necessary to capitalize on the opportunities.<\/li>\n<li>vision statement \u2013 develop a clear and convincing value statement about who your firm is, what it stands for and what you are striving to become.<\/li>\n<li>mission statement \u2013 develop a clear definition of what your firm does \u2013 what is its ultimate mission or why you exist,<\/li>\n<li>value model \u2013 what is the value that you will deliver to your clients and prospects \u2013 the value that they want and that clearly differentiates your firm from the pack.<\/li>\n<li>strategic planning model \u2013 finally, prepare your 18-month to two-year plan using the model presented above. for each strategy within each bucket, develop the initiatives to be completed to successfully implement each strategy. for each strategy and initiative, define the deliverable and the metric of success.<\/li>\n<\/ol>\n<p>completion of each of the five steps, each with the vm at its core, will successfully transform your firm to a successful vbf that can dramatically improve its organic growth and profitability.<\/p>\n<p>now the most challenging task lies ahead \u2013 implementation, keeping everyone\u2019s focus on the implementation of the plan and transformation into a vbf.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong>one is a tool, not an end itself.<\/strong><br \/>\n<em>by domenick j. esposito<\/em><br \/>\n<em><a href=\"\/\/www.g005e.com\/shop\/esposito-8\/\">8 steps to great<\/a><\/em><\/p>\n","protected":false},"author":1596,"featured_media":49054,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[2254,3120],"tags":[],"class_list":["post-54117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-growth","category-pro-member-exclusive"],"acf":[],"yoast_head":"<!-- this site is optimized with the yoast seo plugin v24.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>the link between strategy and winning on value 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