Part Time Finance Director
Practice The Easy Way
If you are an established independent part time finance director, a virtual finance director, a management accountant in practice, a finance coach / trainer or a financial management consultant or if you are just starting your own business providing financial management services then I have some important and exciting news.
In January 2011, I am starting a Part Time Finance Director Mastermind Group to help an elite seven members work together, share ideas and grow their business the easy way by combining best practices.
The Part Time Finance Director Market
I worked for myself since 1995 and used to work successfully as a part time finance director. It is a concept I really believe in although I now work as a general business coach and adviser because I have a passion for marketing..
I know it can be tough to get established and most accountants will admit that they are not natural marketers.
In fact part time Finance Director and financial management consultancy services are a tough sell. It is an intangible service, most entrepreneurs don't understand what they are asked to buy and the added overhead can seem daunting.
By learning from the experience of the group and sharing tips and tricks, you can overcome these problems..
The Mastermind will help you to attract and convert more clients as well as help you to service your existing clients more effectively.
Background On The Mastermind Group Concept
The mastermind concept was made famous by Napoleon Hill in the classic book "Think & Growth Rich" as the way to gain the power to turn plans into action.
It happens when two or more people come together with a common purpose to help each other. In our case there will be up to seven finance specialists plus me acting as the facilitator in the Finance Director Mastermind.
Hill defined power as "organised and intelligently directed knowledge" and saw the Mastermind group as the way to get that power. In fact he went so far to say "No individual may have great power without availing himself of the Master Mind".
This conclusion was based on his research into 500 of the most successful American entrepreneurs before and after the First World War including Andrew Carnegie, Henry Ford, Thomas Edison, Alexander Graham Bell, John D Rockefeller and many more.
Napoleon Hill goes on to say
"Analyse the record of any man who has accumulated a great fortune, and many of those who have accumulated modest fortunes, and you will find that they have either consciously, or unconsciously employed the Master Mind principle."
The idea of peer support of a mastermind is well established in the United States but it's often mistaken for glorified networking in the UK.
What a waste!
I believe it's particularly suitable to helping part time finance directors and financial management consultants because of the isolated nature of the work. Like me and many other business coaches, you work independently and don't have a team to back you up.
The Part Time Finance Directors Mastermind
I am bringing together a group of no more than seven part time Finance Directors and financial management consultants to meet by telephone each week for up to one hour in focused discussions around your issues for developing your business.
The structure for our mastermind meetings goes back to the original Andrew Carnegie format (allegedly the second richest man in the world ever and if it worked for him...).
It includes a standard opening and closing to make sure the mastermind is positive and inspiring. The core of the meeting is shining the spotlight for seven minutes on each member of the mastermind group.
Each person has the chance to ask a question of the mastermind group - the more specific the better - and the other members of the mastermind share their thoughts and ideas in the seven minutes.
But it's not just about your seven minutes in the spotlight.
Each member learns from the others.
You will also open up to other possibilities and ideas raised by the other members and be inspired by the progress they make gowing their businesses.
Each member then publicly commits to a SMART goal - specific, measurable, achievable, relevant and time bound - to be done for the next meeting.
This consistent goal-setting and reporting back on its achievement creates forward momentum in your business so each week, it gets stronger and more successful.
Let's face it.
It's tough to grow a business on your own. Families and friends want to help but they're not likely to know much about your business or even be that interested.
It's very different when you are a member of the mastermind and the peer pressure to keeping moving forward acts as a great incentive to get things done.
What Questions Can You Ask In The Part Time FD Mastermind Group?
Basically anything you want to know to help move your business forward or perhaps to help a client if something is outside of your knowledge and experience.
The mastermind is designed to give you access to resources you need and not necessarily to solve the problem there and then... although it does depend on the question. There will be a private online forum to back up the weekly mastermind calls and to make sure you get the help from the group when you need it.
Perhaps you will ask a question about marketing and in particular networking. For example you could ask the other members what their short elevator speeches are so you can hear how others are creating interest in the part time Finance Director or financial management consultancy you provide.
Or you may want to know how to get your website to rank better in Google, whether anyone has a direct mail letter that works really well you can borrow or any of the other 1,001 marketing questions you might have.
Perhaps you might ask a question about Professional Indemnity Insurance and how your rates compare?
Or you could be uncertain of how the money laundering rules apply in a particular situation.
Or a technical question about the best small business computerised accounts program.
Or you may have a question about applying the deferred tax FRS. (I'm not answering that one.)
Or you need to get ready for a Practice Assurance visit and you're not sure what you need.
The idea of the mastermind is that you bring the power of the group to your business and then together, you are each stronger than you are on your own.
Testimonials From My Coaching Mastermind
I started a mastermind group for business coaches in early 2010 as a trial of the format and I am thrilled by the success of it.
It's such a great feeling to be part of a group that gives you ideas and tips, lifts your spirits and tells you the truth when you need a reality check. I find it very inspiring to hear what mastermind members are doing and how they are becoming more successful.
Here are the testimonials from some of the people who have been in my first coaching mastermind. group.
"My business has gone from strength to strength"
"Since joining the group at its inception earlier this year (2010), my business has gone from strength to strength - certainly making it my best year in business by far. I can think of three very tangible benefits that I now enjoy thanks to the mastermind:
- A constant flow of enquiries thanks to my improved marketing system, that means I've been able to double my client base and increase my prices too.
- An invitation from a major publisher to write a book for them.
- A new group of business friends who I can be completely open with, who motivate and inspire me, and hold me accountable to take action every week.
The meeting has a fixed format with the same opening & closing statements every time. These date back to around the 1930's and can feel a bit old-fashioned, but the words and spirit are inspiring, setting the tone for a high level of trust, cooperation and camaraderie amongst the group's members. It's the structure that makes the mastermind so effective.
From the results I've shared above, it's obvious that I'm an enthusiastic fan of masterminding and I'm excited by the potential of the next 12 months. " (Lee Duncan, The Double Your Business Coach www.leeduncan.com)
***
"Since joining the mastermind my business has progressed immensely"
"Here's the thing: I run a successful business. I'm fiercely independent and often think I know it all. So how Paul persuaded me to join his mastermind group I'll never know. But I'm so glad he did.
Since joining the mastermind my business has progressed immensely. It turns out that I don't know everything and the insights and experience shared on the call provided by Paul and the other members he gathered have been truly eye-opening. They're based on hard-earned business experience - not theory, not what might work, not what some guru tells you will work. But what's actually worked in practice.
And what it also brings is accountability and challenge. Once I've had the group's help to get my ideas straight and I commit to doing something - I get it done. There's no excuses. I can't just tell myself that things have changed or I'll do it next week. I have to tell the group whether I've done it - yay or nay. So I do it.
To anyone looking to make big strides with their business - I'd say jump at the chance to join one of Paul's groups." (Ian Brodie, Get More Clients In Less Time Even If You Hate Marketing and Selling, www.ianbrodie.com)
***
"My business is moving forward again with clear purpose and direction"
"When I joined Paul's Mastermind group I was in a very 'stuck' place in my business, and this was made worse by the isolation of working alone from home.
The structured weekly sessions led by Paul gave each member a wealth of ideas to try out, plenty of support and resources, and the added frisson of our competitive natures meant no-one wanted to be the first to report an incomplete action!
As a direct result of being part of this group, I'm pleased to report my business is moving forward again with clear purpose and direction.
If you're lucky enough to be invited to join a Mastermind group run by Paul - grab it!" (Louise Barnes-Johnston, Simply Business Coaching http://www.simplybusinesscoaching.com/)
***
"I'd thoroughly recommend it to any small business owner who really wants to make a change"
"Paul's Mastermind group has helped me to focus on what I need to do to structure and grow my small business - and it's working!
The group format is hugely powerful and really good fun - you'll get a load of support and gentle peer pressure to keep you on track as you work towards your goals, with expert facilitation from Paul.
I'd thoroughly recommend it to any small business owner who really wants to make a change." (Sonja Jefferson, Valuable Content www.valuablecontent.co.uk/)
Who Can Join The Part Time Finance Director Mastermind Group?
This is intended to be a group of peers so you must be a qualified accountant offering financial management services to SMEs in the UK.
You must be in good standing with your Institute or Association and follow any rules for providing a finance management service to small and medium sized businesses.
You must be independent - the Part Time Finance Director Mastermind Group is not for people who are members of a franchise as you have your own formal support structure.
You've got to be a decision maker and an action taker. The group is for achievers and doers and not for people who'll get around to doing stuff some time. It's not a talking shop but a force for making tangible steps forward in your business and getting more results.
You have to be accepted by the group which means an existing Finance Director Mastermind member has the opportunity to veto a local competitor joining. One per county is the basic rule unless the existing member in that county agrees to your membership.
You must be committed to growing your business and committed to the mastermind.
- That means you must ask for help and give help - it needs to be a two way street since all giving or all taking unbalances the group. Even if you are new to the part time FD business, you will have valuable contributions to give since you will come with a long career of experiences, contacts and knowledge.
- What's said in the mastermind group stays in the mastermind. This is why I won't let franchisees into it since they have a dual commitment to both the group and the franchise.
- Membership is based around weekly telephone calls of no more than one hour. The power of the group diminishes if people skip attendance regularly. Yes things happen both personally and professionally which mean you'll miss some meetings but you should aim for at least 70% attendance. Mind you, based on my experience with my Coaching Mastermin, things will be going so well, you won't want to miss the calls because they are such an inspiring experience.
A strong mastermind has strong members so if you think there are a lot of conditions, you are right.
The Part Time Finance Director Mastermind is not limited to those who advertise on my Finance Director Register - although I'd prefer it if you did and it is an easy and quick way to get an Internet presence with a good Google ranking.
Extra Benefits You Get From Joining The Part Time Finance Director Mastermind Group
As a mastermind group member you can have a promotional page about your business on this Part Time Finance Director blog, optimised in the search engines for local searches or specialist niche market services. As long as you stay a mastermind member, your promotional page stays.
I will also set you up as a blog writer on this blog so you can publish articles about finance matters, problems and solutions or local events with a finance theme and these will stay in place even after you leave the mastermind.
Let me emphasise the benefit of this.
Joining the Finance Director Mastermind Group gives you a chance to promote your business on a network of blogs which Alexa.com independently ranks as one of the top 100,000 websites on the Internet in the world and currently one of the top 10,000 websites in the UK.
While you are a member of the Mastermind, you'll also be given free access to the Silver member benefits of my small business club - Your Profit Club.
This gives you access to my business building system based around the Eight Pillars of Business Prosperity designed to double profits in twelve months.
My Role In The Part Time Finance Director Mastermind
My task is to facilitate the meeting, to make sure that everyone gets their chance to be heard and to keep the group moving forward to success and achievement.
I'm sure you've been in meetings that consume a huge amount of time but don't make any progress. It's my job to make sure that doesn't happen in the Mastermind.
With the permission of the mastermind group, I'll also contribute my answers to the questions asked if no one else is able to provide an answer or if the group feels I am the best qualified to answer.
How Much Is Membership Of The Part Time Finance Director Worth To You?
Only seven members will be allowed into the group to stay true to the one hour mastermind concept so this opportunity will quickly disappear.
I see this mastermind giving you huge benefits economically and emotionally.
Your clients look to you for leadership and guidance in growing their profits and cashflow - the mastermind lets you ask for and receive help when you don't know all the answers.
Helping you to win one extra part time finance director client at an average of £15,000 per year will mean the mastermind pays for itself many times over.
Exact benefits will depend on the questions you ask of the group and what other members ask which inspire you to act. I'd expect you to find ways to save money too by sharing knowledge about what really works.
How Much Will The Part Time Finance Director Mastermind Cost?
I've deliberately priced this first Finance Director Mastermind group as a bargain to make it hard to resist.
£97 plus VAT per month for membership.
This is a small price to pay for access to specific tips on what is working within the part time Finance Director and SME finance markets.
If this offer proves very popular, I may add a second mastermind group but the price will be at least £147 per month (plus VAT) and perhaps more if members of the first group get the extra success I expect. If you join this first group you will save £50 per month so you have every reason to act now.
100% Satisfaction Guarantee
I like to give a 500% return on investment with my business and marketing coaching and I do the same with the mastermind group.
If you don't believe that you get value from being a member of the Finance Directors Mastermind of at least five times the cost you pay me and you want to leave, then I'll refund the last three months fees.
That gives you three months to try the Mastermind at my risk and you can experience for yourself the benefits which get the members of my Coaching Mastermind so excited.
How Do You Join The Part Time Finance Director Mastermind?
First you need to enter your name, email address and telephone number in the boxes below.
I know it looks corny but I wanted to make the point that the hard way to succeed in your financial management practice is by trying to do everything on your own...but when you work as part of a team focused on the same goals, you can cruise to success.
Second, I will call you to make sure you understand the process, answer any questions you have and check that you are committed to the Mastermind idea.
Third, you join on a first come first accepted basis. This is only open to seven part time finance directors and/or finance management consultants so you need to make a quick decision.
Those accepted into the group have the right to reject new member applications since its success is very much about the quality and spirit within the mastemind group.
If You Have Any Questions I Haven't Answered
I have written a lot because I know accountants like to see the big picture and the detail.
However you may have a question running through your mind I haven't thought about so please do me a favour and ask it in the comments box.
I can then answer it for you and others.
Alternatively give me a call on 0121 554 4057 or email me at paul@plancs.co.uk.
The timing of the one hour meeting each week has not yet been fixed so if you love the idea of joining the Part Time Finance Director Mastermind but your times are restricted, you have the chance to influence when the meetings happen.
I'd hate for one little doubt to cause you to miss out on this special opportunity to work with other part time Finance Directors and grow your business the easy way.
I look forward to hearing from you.
Paul Simister BA FCA MBA
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