Growing your business turnover and client-staff engagement

Listening to professional services firms talk at a conference recently about increasing turnover through staff coaching and development programmes re-confirms Engage Insight’s mission to provide holistic strategic business development consultancy to professional and financial advisory and wealth management firms.

One firm in particular spoke about how they put 80 out of 200 partners through coaching programmes (certification) to allow them to learn how to have “insightful conversations” with clients to find out what clients wanted in terms of work rather than just trying to sell a product.

The impact this has had is immense, not just for the client but also for staff development and engagement. This particular firm increased turnover from £360m to £512 in 4-5 years through focusing on key staff ‘optimisation’ programmes that builds a holistic blend of technical and behavioural (soft) self development skills.

With regulatory and governmental moves to promote transparency, positive corporate culture and fairness for the consumer, we are now witnessing a truly enchanting change in the way we do business. At Engage we call it ‘the romance of business’, focusing on the client journey first then working through conduct, culture, behaviour, operations issues to streamline the business to ensure it’s truly client centric.

This then enables businesses to perform, become sustainable and maintain compliant services and products. In his book ‘Strategy and the fat smoker’ David Maister discusses the issues surrounding organisation’s mission and vision statements being so similar, yet he rarely witnesses businesses walking their talk. Maister argues that it’s those businesses that focus and build their services around existing client needs that not only survive but also thrive.

So what will you do? Focus on short-term wins or do you have the courage to invest in your people and clients/customers to build a truly holistic business to meet long-term strategic aims? By focusing on the romance of business, and using executive coaching, behavioural economic strategies and strategic business planning programmes, businesses will not only increase profits but find a whole new level of engagement and enjoyment too.

Strategic planning vid

Take a look at our video on strategic business planning opposite and let us know what you think.

Let the romance begin….