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“The best time to grab a competitive advantage is when everyone else believes that poor financial performance is acceptable because of the state of the economy and therefore out of their control.”
Source: Bain & Company, 1990-1991 recession.
Traditionally recessions are times when the weak get sorted out and the complacent get pushed aside. A recession is also a time of great opportunity for firms that see and seek the opportunity to break from the pack. A Bain & Company study of the financial performance of 700 companies covering the 1990 – 1992 recession revealed the following:
- More than 20% of the companies that were in the bottom quartile of their industries jumped to the top quartile during that recession.
- Firms that came out of a recession strongest were those that made gains during the recession rather than before or after it.
- At the same time, more than 20% of the top quartile companies (the acknowledged leaders) fell to the bottom quartile of financial performance coming out of the recession.
In these two x 1 hour web-based seminars led by Principa’s CEO Ric Payne, you’ll discover precisely why (and how) you can ensure your firm AND your selected business clients are equipped to weather the storm caused by the current turbulent economy.
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Program 1: |
How to Build a Great Firm in Tough Times |
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1:00pm – 2:00pm | Wednesday, September 3, 2008 |
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Program 2: |
How to Help Your Clients Succeed in Tough Times |
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1:00pm – 2:00pm | Wednesday, September 10, 2008 |
Register for one program or for both – the choice is yours. But don’t delay, space is limited and registrations are essential to guarantee you a place.
Program Overview and Objectives
- The ten myths of public practice that hold most firms back and why a recession reveals them with great clarity.
- Discover why firms who break from the pack do so easiest in a recession and why the application of “conventional” wisdom is the cause of mediocre performance.
- Learn how to analyze your own client base and determine the profit contribution made by each client. This learning objective will embrace the development of your own client selection criteria.
- A real world case study: How one firm grew its fees from by 40% a year during the 90-91 recession.
- Learn how to quickly analyze a business and make an assessment of its potential for growth or failure.
- Seven critical pieces of information that every business manager must be aware of to prosper during a recession.
- Strategies that will enable a business to not only survive a recession but come out of it ahead of the pack. Pricing strategies in a recession will be given particular attention.
- Learn how to use a simple process to identify a customer’s top priority and then sell the performance improvement solution.
- Learn how to package and position a business performance improvement service that embraces a Management Control Plan that every business manager should have.
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Who Should Attend
These programs are ideally suited to CPAs / CAs in public practice - particularly practice owners and managers with client-facing responsibility.
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Dates and Location
| WEB EVENT |
DATE |
TIME |
LOCATION |
VENUE |
| Build a Great Firm in Tough Times |
3 Sept, 2008 |
1:00pm - 2:00pm PST |
USA |
ONLINE EVENT |
| Help Your Clients Succeed in Tough Times |
10 Sept, 2008 |
1:00pm – 2:00pm PST |
USA |
ONLINE EVENT |
Registration
You'll invest nothing but an hour of your time in this valuable program. Make the decision now to invest a tiny amount in yourself and your practice - one that could repay itself many times over. But seats are limited and registration is essential so secure your place now.
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