Change management for advisory success

Change management for advisory success

Implementing structured advisory requires considered change management for the partners and the team. This article provides an overview of how to support your whole team to maximise outcomes for your firm. The change management and implementation process identified in this article is best practice, however, your firm may want to tailor the process based on firm size, current processes, and service offering. 

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Tip
By implementing good change management practices, you'll also be able to help your clients manage change in their businesses.

The importance of managing change

Regardless of your firm's current processes and service offering, there will be a degree of change to manage when implementing The Gap. It's important to take a systematic approach to implement a new product like The Gap, and it's critical to bring your team along on the journey. This ensures the whole team is clear on your goals and objectives and how it may impact their roles, which will maximise buy-in.

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Important Info
It's essential that your team is supported during implementation. Provide clarity for how roles will evolve and support individuals to set goals that align with your firm's advisory goals.

The ADKAR Model

This model, created by Jeff Hiatt, outlines five building blocks that are required for successful change management. By supporting your team to move through each of the steps, you'll set your firm up for success and minimise the disruption caused by implementing a new way of working.




The Emotional Cycle of Change mindset

This mindset is helpful to understand the emotional rollercoaster we can find ourselves on when implementing change. We start off feeling excited and raring to go, and then when we see the amount of change required, we can feel overwhelmed and end up in the valley of despair. This is where most people quit and go back to business as usual. By understanding that these feelings are normal and to be expected, we can push through this valley and successfully implement change. The feeling of success and fulfilment at the end increases our emotional state so we're happier than before implementing the change.


Your implementation team

Your implementation team will be your 'pilot team' who will initially begin the marketing and delivery of The Gap's services, before expanding to include more team members. This should include a Gap Champion, a partner, a senior team member, and a representative each from admin and marketing. 

Your Gap Champion

We recommend nominating a 'Gap Champion' in your firm to aid implementation and change management. They will be the key contact person with your Gap Member Success Specialist and will provide important support and accountability for your team. Nominating a Gap Champion will fast-track your ROI from The Gap.

The role

The role of your Gap Champion is to:
  1. Oversee the implementation of The Gap in your firm
  2. Support the leadership team to set goals and expectations for utilising The Gap 
  3. Introduce the rest of the team to The Gap, providing support where needed
  4. Utilise our Gap Champion resources to manage change and progress
  5. Provide accountability to meet your firm's advisory goals 
  6. Track and report outcomes for delivery of advisory services
  7. Work with our Member Success team to get the support required
Notes
Note
It's likely your Gap Champion will be a partner or practice manager.

Gap Champion Content overview

We've created several resources to help the Gap Champion, including email templates to announce your membership to The Gap and PowerPoint presentations that demystify what The Gap is and how you can get an ROI from it while providing your clients with better business support.



Alert
Attention
It's important the leadership team is aligned and onboard before rolling out The Gap with the rest of the team.
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Tip
While the below is best practice, you might want to tailor your implementation process to suit your firm's needs. At the minimum, send an email to the whole team to introduce them to The Gap - even if they're not going to be directly involved, it's important they aren't completely in the dark. 

Gap Champion Guide
A supporting guide for your Gap Champion to utilise the Gap Champion resources available.
  1. Gap Champion Guide

The Gap Intro Email Templates
A simple email covering the what, why and next steps for implementing advisory with The Gap - a crucial step in providing awareness and getting buy-in. We've provided three slightly different versions (for your leadership team, implementation team, and then the rest of your team). Each template contains a link to a short video about The Gap.
  1. The Gap Intro Email Template - The Leadership Team
  2. The Gap Intro Email Template - The Implementation Team
  3. The Gap Intro Email Template - Whole Team
  4. The Gap Intro Email Template - New Team Member

Gap Champion PowerPoint Template - Leadership Presentation
This is a one-hour presentation to introduce the leadership team to The Gap, formulate your implementation plan, and determine your implementation team.
  1. The Gap Champion PowerPoint Template - Leadership Presentation

Your implementation plan
We've provided a slide in the Gap Champion PowerPoint Template - Leadership Presentation which outlines a potential implementation plan. This is a guide only and should be used as a starting point to determine your firm's implementation plan.
  1. The Gap Advisory Implementation Roadmap Template

Gap Champion PowerPoint Template - Team Presentation
This is another one-hour presentation to your entire team to ensure they understand what The Gap is, why you've joined, and their roles during and beyond implementation. It's important the whole team understands the value of your new services so they can position these in  relevant client conversations. This is a great opportunity to gauge your team's interest and identify some 'Young Guns' who are well suited to grow in the advisory space. This should be presented after the Leadership Team presentation, Services & Pricing Strategy session, and Business Planning session as you'll update the slides with decisions made during these meetings.
  1. The Gap Champion PowerPoint Template - Team Presentation
Idea
Tip
Effective communication is critical to getting your team engaged in the process of marketing and delivering new services.

Team Member Achiever Matrix
A worksheet for team members to use to identify tasks they can give up or delegate to free up their time to support the implementation of The Gap or focus on quality tasks.
  1. Team Member Achiever Matrix

Getting your house in order

It's likely you'll need to review your internal processes and resources as part of getting your house in order to scale up your advisory services with The Gap. 

Freeing up capacity

Perceived lack of time is often a barrier to implementing Business Advisory and getting runs on the board with The Gap. It's important to identify tasks that can be delegated; to whom and how.

Identifying delegation opportunities
We recommend delegating the Annual Accounts Review meeting to senior accounting team members.

Redefining your organisation chart and job descriptions
If you haven't reviewed your firm's organisation chart recently, now is a great time to do so. Use the templates available here:
  1. Organisation Chart Template - Small Firm
  2. Organisation Chart Template - Large Firm
Then, update your team's job descriptions, where relevant, to reflect new responsibilities, tasks and KPIs resulting from the implementation of The Gap. Ensure you work in consultation with your team and engage an HR consultant as required.

Essential mindsets 
In addition to the Emotional Cycle of Change mindset, we recommend also reviewing the below mindsets in our Mindsets article:
  1. Be Do Have Principle
  2. The Achiever Matrix
  3. The Four Leadership Quadrants
  4. The Pathway to Empowerment
  5. Now, Where, How

What to expect in your first year

We've identified a suggested customer journey based on the experiences of our members. Each firm will have a different journey depending on its size, current service offering, and implementation plan.
Notes
Note
Use the below journey as a guide and amend it to suit your firm.

Month 1 - Getting started:

  1. Complete basic app set up - get started here
  2. Plan your implementation
  3. Join out Facebook community group
  4. Register for upcoming Gap events
  5. Block out time each month to trial delivering advisory 

Month 2 - Preparing for change:

  1. Agree on who will champion the required change
  2. Develop initial Value Ladder and set your services and pricing
  3. Agree on the service you'll deliver first
  4. Set initial advisory goals

Month 3 - Setting the new normal:

  1. Share your Value Ladder and plan with your team
  2. Learn to how to use the Value Gap Calculator
  3. Learn about the Prospective Client Meeting process in the Work Items area
  4. Trial your first service on a willing client

Month 4 - Getting runs on the board:

  1. Use the Annual Accounts Review process in the Work Items area
  2. Celebrate learnings and wins with your team
  3. Learn how to deliver the next service on your Value Ladder
  4. Address obstacles to implementation

Month 5 - Building traction:

  1. Create your own Business Plan and set advisory goals following the Business Planning process in our Work Items area
  2. Update website and consciously market your advisory services
  3. Utilise client testimonials

Months 6 to 12+:

Scaling up
  1. Continue rolling out initial Value Ladder
  2. Expand advisory team
  3. Consider engaging an accountability coach
Repeat & expand
  1. Revise internal training and support needs
  2. Review your Business Plan and goals
  3. Expand your advisory service offering as desired

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