What must it feel like to leave a promising, high-flying career with a leading firm and start up your own firm – to hand your notice in and, six months later, kick-start your accountancy firm with one client? Well, that's exactly what Kat Wellum-Kent has done. She set up Fractional Finance and has grown that to a business with a fairly clear vision of building a £5 million turnover business in just five years. She already has clients paying her, yes, £400 a month, but also clients paying her £7500 a month. On this podcast, you'll hear Kat share her insights around fairness for the team and the vision based around how this will play out for her clients and the capital value that she's going to help them grow. She shares the importance of building a vision board and having good reasons for why you're doing what you're doing, so that in those moments where it gets tough, you can have a quick check-in on your vision board and say, yeah, I'm on the right path. Why not go to this podcast discussion with Kat Wellum-Kent to hear those deep insights and see how they might apply to your established firm, or your startup firm, or the firm that you've got in your mind's eye that you're looking to set up in the not-too-distant future. Please scroll down the podcast’s episode page for the contact information for Kat and for the additional, downloadable resources mentioned in the podcast. |
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During the podcast, Paul and Robert discuss the value of KPIs for both the team and the clients. Robert talks about the typical KPIs for a hospitality business and their importance to management and to the wider team. He feels that when the team have KPIs they are more invested and better connected to the KPIs of their manager, as well as to the business as a whole.
From his team’s point of view, Robert thinks that quarterly goals are too broad, so they have introduced monthly meetings with each team member to ensure that their current KPIs and goals are still correct and achievable.
Rob's main KPI is team happiness – if they are happy, the clients are happy.
Most accountancy firm owners and managing partners measure what they think is right rather than measure what matters most.
We know accountants love to track and measure – let’s make sure you track and measure the right things in your firm. Click here to read this Business Breakthrough report – Healthy Heartfelt KPIs – and discover how to use them as key PREDICTIVE indicators.
Towards the end of the podcast, Robert and Paul discuss leading and managing change and how there is just never enough time to get eveything done. Rob talks about the discipline he attaches to his running and admits that he does not always get the work/life balance right.
He mentions a book called Atomic Habits, by James Clear, that outlines how small changes can make a big difference. Here is a link to the book.