Episode Details

Episode 39: Your fab5 dashboard crash course - the KPIs that build the business to run without you

In this episode of The Wize Guys Podcast, Jamie Johns together with Wize Mentors, Tim Causbrook and Michael Ferris share valuable about key performance indicators or KPIs.

“What you can measure, you can manage,” as Ed Chan always mentions. One of the most important aspects of running a business without you is having KPIs in place which is discussed during weekly and monthly meetings.

At Wize, Jamie has been able to derive the KPIs in the Fab5 dashboard. This helps manage and track the firm’s KPIs. Also, Jamie Fab5 fine-tuning in Sky Accountants for seven years. Today, he’ll share how you can start to implement this dashboard in your firm today!

Timestamps:

0:35 - The Wize DRS Model: Design 

1:26 - The concept of “What you can measure, you can manage”

2:36 - How Jamie derived the KPIs included in the Wize Fab5

4:29 - Why Fab5 is critical when growing your firm

10:22 - Tips for implementing buy-in

11:59 - What is lockup?

15:03 - The importance of having timesheets

17:20 - How to measure revenue

20:16 - Leadership is by the influence

Quotations:

“I think healthy competition is a good thing in general and everyone wants to be a winner. It’s quite common. I've actually seen this inspire people to be better.” - Jamie Johns

“It's not what we do, it's how we do it to get the success or the outcomes we need. It's always in the how. The answer's in the how.” - Jamie Johns 

“You wanna treat the problem, not the symptom.” - Tim Causbrook

USEFUL LINKS:

• Download a copy of the Accountants Write-offs Secrets

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Download the full transcript here.

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PS: Whenever you’re ready… here are the fastest 4 ways we can help you fix and grow your accounting firm:  

 1. Download our famous Wize Freedom Map for FREE - Find out the 96 projects every firm owner must implement to build a $5M+ firm that can run without them - Download here 

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3. Work with Jamie and our mentors for 8 weeks - Build a custom business plan for your firm - Apply here