3K&L the financial consultant – How we work with our clients, Part II
In my previous blog, I talked about the philosophical question asked to me by my son “Dad, what do you do?” and the journey it took me on. The journey started with me taking an introspective view about what I stand for, as a financial consultant, and more importantly, what 3K&L as business consultants got to where it is.
Our origination is in LISTENING. We listen to what our entrepreneurs are seeking to achieve. We listen to the aspirations, even if these are to survive the covid period. We listen to the challenges they are facing. We listen to their preferred options in dealing with those challenges and actions that that are not options.
We then ASSESS what these entrepreneurs need to mitigate those factors and how we as financial consultants can assist.
In assessing what is needed, we also assess the capacity of existing resources to deliver. Normally, when someone calls me, it is because they usually know of a shortfall or shortcoming, but they want an independent opinion on 1) whether their assessment of the shortcoming is accurate, 2) how it arose, 3) how it can be fixed, and 4) how it can be fixed permanently (or at least for the long run).
Lastly, I assess what 3K&L can do to help. I am not a jack of all trades (and a master of none). I don’t come with a magic wand to sort out all problems. So, I make an honest assessment of where I can help and how I can help.
Once we are done with the assessment and we have agreed where 3K&L can help, I begin to assist. I assist with the (re)structuring of processes to be more efficient and effective. I assist in capturing data and converting that data into information. I assist in developing reports that speak to the needs of the entrepreneur and stakeholders. I assist entrepreneurs interpret their reports for better decision making.
What I have learnt?
I have learnt to be flexible in assisting businesses. Everyone’s need is unique and the primary reason why 3K&L is a bespoke consulting business. I remember one client told me ‘Your solution was fantastic. It has taken our firm to new heights! You should package this solution and market it to other firms in our industry, I am happy to be your referee.’ I was humbled and enthused by that comment and suggestion. But then I reminded him that the reason the solution worked so well for their business, is because I tailored it to their needs and objectives. He agreed.
3K&L has a fundamental principle when assisting firms, entities, businesses…. We do not work to entrench ourselves indefinitely. A critical part of whatever we do, is to empower others to continuously assess, build, and improve the business or business process. Building capacity in the organization is part of our success model. Success is helping an organisation rise to the next level and giving them the tools to remain there and grow further.
I dedicate a lot of the time to coaching, training, and directing the efforts of people within the organization to sustain the successes of the assignment. A comparison I give my clients, is that of a gym instructor. If you go to the gym to get fit or lose weight or simply get better, the instructor is there to help. He does not take over your problem. He tells you what you need to do, what you need to change, and how to maintain the successes for the long term.
A good gym instructor goes beyond the exercise regime to encourage a change of habits and lifestyle, so your progress and trajectory is sustained. That is what we do.
And once we have successfully dealt with the immediate challenge of the business, I sit down with the entrepreneur and assess what else they would like to achieve…
EUREKA!!
I knew that if I follow my footsteps through my assignments, I can figure out what to tell my son. What do I do?
