How to Blow Out a Market …go vertical – why & how

1. How to Blow Out a Market…go vertical – why & how L. Gary Boomer, CPA.CITP, CGMA www.boomer.com lgboomer@boomer.com

2. A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty. Leader-Staffing-Platform-Service-Pricing-Capabilities-Technology-Opportunities-Complexity-Regulations

3. Market Focus Where to Play How to Win

4. Key Components…

5. Requirements…

6. Traps - why firms fail • Lack of leadership • Allure of a plan, strategy & market research • Lack of knowledge about client’s changing needs • “Just do it” attitude • “Accounting firm” management methods

7. Model vs. Plan

8. Trusted Business Advisor Relationship • Collaborative • Creates Value • Scope & price upfront • Fixed fee – change order • Decision - advocate or independent?

9. Success can be engineered…

10. Lean Start Up

11. Next Gen - Management • Innovation • Startups • Tools to change • Industries • Professions • The World

12. No Exemptions The accounting profession is at risk, but on the cusp of higher value services as The Trusted Business Advisor

14. Lean Startup reduces loss of… • Time • Passion • Unique abilities

15. Vision

16. Navigate

17. Accelerate

18. Resources

19. Options

20. Example from Horne’s Website

21. Horne is in the Accelerate Phase

22. Recommendations • Narrow focus on website (options) • Name the package • Graphic of your process • Focus on Team, not partners • Focus on client DOS • Address value and price – define client profile

23. Characteristics of a Champion

24. A Name… • The Horne Franchise System • The Horne Franchise Builder • The Horne Franchise Solution • The Horne Construction _________

25. A Graphic…

26. Tools • The Project Filter • Kolbe Index • Selling to Entrepreneurs Worksheet • Scope & Pricing Checklist

27. Strategic Planner

28. Entrepreneur

29. Be Careful Not To CloneMost Common and Future Leader

30. 1955-2011 Steve Job’s Law on Creativity Creativity is connecting stuff. The more stuff you connect, the more creative you become.

31. 1902-1984 Ray Kroc’s Law on Focus I didn’t invent the hamburger. I just took it more seriously than anyone else.

32. Born in 1935 Sakaiya’s Lawon Resources Fully exploit resources that are abundant, and economize on those that are in short supply.

33. Value Added Services Planning CFO Services Budgeting & cash flow Review financial performance – Monthly Insurance review Pricing study Other • Strategic • 90 Day Game Plans • Accountability Reviews • Technology Review & Plan • Succession • Marketing • Sales • Mid-year review • Life insurance review • Other

34. SOC 1-2-3Service Organization Control Reports • SOC 1 Based upon Statement on Standards for Attestation Engagements (SSAE) # 16 • Type 1 - report on the fairness of the presentation of management's description of the service organization's system and the suitability of the design of controls in meeting the applicable criteria.   • Type 2 - same as a Type 1 report but also includes (1) the service auditor's opinion on the operating effectiveness of the controls in meeting the applicable criteria and (2) a description of the service auditor's tests of the operating effectiveness of the controls and the results of those tests.   • SOC 2 Report on Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality or Privacy • SOC 3 General Use Report

35. The Difference Order Taker Professional Sales Pipeline Quota Relationships Loves to sell • Due date • Hours • Rugged individual • Hates to sell

36. 1906-1978 Gödel’s Lawon Perspective To understand the system you are in, you have to get outside of it.

37. 1876-1958 Kettering’s Law on Committees If you want to grow an idea, keep it away from committees.

38. 1847-1931 Edison’s Law on Systems Invent whole and complete systems rather than the components of systems.

39. Comments & Questions L. Gary Boomer, CPA.CITP, CGMA www.boomer.com lgboomer@boomer.com