Frequently Asked Questions
Having certified Advisors in the Level 5 methodology for more than 20 years, I’ve come to understand that there will be questions that come up along your journey to certification. Following are answers to the most frequently asked questions. Please take time to review them so you can move forward, feeling clear and confident in your decision to become a Level 5 Certified Advisor.
Which version of the program is right for me?
The right version depends on you. How do you like to learn? If you are totally independent and like to work at your own pace, then the DIY version will work for you. Everything you need is included online: training videos, tools, and tutorials, downloadable slides, and more. If you want to expand your learning and have access to monthly webinars conducted by Geni and including others who have been through this training, you might want to consider the DIY + option. If you need to have more support in working through the materials and want to be held accountable as part of a group of other like-minded people, you want to select the Group Learning program. There you will still review the training on your own, but you will be coached through the tools by Geni over a six-month period.
How long does it take to complete the program?
It can be done in a few weeks if you have the time and commitment to do so. But it is comfortably managed in a six-month period if you make the commitment.
How do I know if Level 5 is a fit for my firm?
If your firm wants to make a difference in the lives of their clients, wants to have more engaged employees, and wants to bill more and work less, this is where you start.
Do you offer special pricing if I want to get multiple members of my team trained?
We offer packages that include more support and other options for firms looking to do internal training. Just reach out via our contact page.
I really don't like to "sell." How is this different?
Selling assumes we have something the client wants to buy. In many cases, clients don't know what they don't know, so we approach everything from an educational perspective. Your role is to teach your clients how to be better business people. By teaching them the fundamentals of a well-run business, they generally self-select for advisory services. By their very nature, performance measurement type services provide the opportunity to quantify your clients' return on investment in your services, making the decision a no-brainer. However, if you can't quantify your services' value proposition, you probably shouldn't be trying to sell anything to the client anyway.
What elements of this service model do I deliver for free, and which do I charge for? How much?
We look at education as an investment in the client relationship. The minute you transition from education to application, it's time to start billing. How much, you ask? In many cases, the projects are billed based on time spent. The good news is that the Level 5 Service productized approach lays a foundation for "value pricing." In the beginning, you may be uncertain as to what to charge for a given activity, but over time, putting a fixed fee on a standardized service will get a lot easier. By the way, setting fees for random acts of consulting is far more problematic - it's no wonder you either give the service away or struggle with what to bill for a one-off activity. Once you start delivering consistent services, value pricing (determined before you begin the work, not after) gets easier.
What if a client pushes back on fees?
You have to ask yourself if you have done an adequate job of articulating the value proposition for them. With the tools you have been provided in this training, you should be able to demonstrate a quantifiable benefit to support your client's decision-making process. It's possible the area of need that is greatest for your client may not be as tangible as a number that we can pull from the financial statement. In that case, for example, the client's biggest issue might be burnout. You would want to help your client articulate all the areas he is struggling with and assign a number value to each. Then ask the question, "What is it worth to you to take your level of frustration from a 10 to a 5? What does your day look like when you are operating at a 5?" The goal is to make the subjective more tangible and quantifiable.
What size firm is this approach designed for?
It's not about the size of the firm. It's about the size of the clients you serve. The core business fundamentals we teach and apply are designed for small to medium enterprises that may lack management talent and/or organizational structure to implement a performance management approach without outside guidance. That isn't to say larger companies can't use your services. It's just that your role switches from providing implementation support to facilitating processes that support internal implementation.
Should I be focused on new or existing clients?
If you are already very hands-on with your clients, they will be open and receptive to expand your role with them. If, on the other hand, you have always taken a more traditional, hands-off approach, you may find some resistance from clients who have difficulty perceiving your role beyond traditional tax and accounting work. It will likely take longer and multiple touches to convince existing clients that you can do more for them, so targeting new clients will probably be easier.
What are the characteristics of an ideal client?
The first characteristic falls under what we call the "gut" test. You must like the person, first and foremost. If you cringe and get a sick feeling in your gut when a particular client calls you on the phone, they are not your ideal client. Ideal clients are open-minded, forward-thinking, and appreciative of your team and the services you provide and have an entrepreneurial appetite for continuous improvement. Stay away from clients that "know it all" or are "yes, but" types. Keep in mind; traditional accounting deliverables don't require the client to do much on their end. However, successful performance management engagements depend greatly on how well you can work side-by-side with your client to make the needed changes in their organization. From a demographic standpoint, look for clients with 5 or more employees, an established and respected product, and happy customers.
What do I do if the engagement starts to expand beyond the original scope of services?
SCOPE creep is more of a problem in random acts of consulting because the service offerings are created on a reactive basis. With $COPE services, you'll find we have done a pretty good job of defining the parameters of each activity, thereby making it easier to stay within the scope. Additionally, with your advisory services organized into activity modules, those "extra" activities stand out. Refer to the engagement menu of services and statement of work document from your tool kit for examples of "service modules." We also recommend everyone on your team read and apply Ron Baker's approach from his book on the subject:
What parts of this program can I assign to others on my team?
There is a fine line between servicing the client’s needs and production. Many partners find themselves slipping below the service line all too often. The more people you involve in implementing Level 5 Service in your firm, the easier it will be to hand off the production side of the engagement to your team. For example, you need to face face-to-face meetings at the Education, Discovery, and Assessment phases of the relationship. Once you cross over to producing deliverables, your team can really step up. They can capture all the session notes, prepare the follow-up letters, and in some cases, facilitate measure development sessions. They can teach Financial Fluency to the client and their team, conduct a Chart of Accounts Analysis and Inventory of Information process.
What if a client isn’t interested beyond Discovery?
Okay. Let's suppose the client is just not interested in having an advisory relationship with you. In some cases, it is a timing issue, others a money issue (although you shouldn't be trying to sell services unless you can demonstrate a good ROI for your services). The Discovery process should also be viewed as a farming activity. Clients who don't need you now may surprise you with a call six months from now. They also may refer others when they recognize their needs are a good fit for your offerings. In any case, it doesn't hurt to revisit the issues brought up in Discovery every few months to see how they are progressing. It shows you really care about them and that you're not just making the "sale."
What if a client is resistant to education?
Great! Your client has just self-selected and opted out of advisory services. Put that client on the "passive" education track and focus your "active" education on business owners who are hungry for it. What is the difference between passive and active education? Passive education falls under the category of firm newsletters, an occasional article, an e-mail concerning an interesting paper, or gently introducing them to a new idea each time you meet with them. Don't write them off just yet, but don't waste your face-to-face time with those who are not ready or willing to pursue a better business.
How do I handle multiple owners who disagree on what needs to be done? Such as with family-owned businesses?
When it comes to performance measurement and management-type services, you will find conflict is your friend. When you have one or more owners and/or family members that are conflicted about the performance of the business, this opens the door for you to take their subjective perspectives and provide them with objective measurements. The only way to get from conflict to consensus is to get the "real" numbers on the table and take personal agendas and biased perspectives out of the way.
What if the client doesn't follow through on their commitments?
It happens. Life gets in the way of even the best of intentions. Be sensitive and patient, but also be persistent. Remember, your job is to keep them on track with their own goals. There are several factors you need to consider when a client has gotten off track, such as:
It could be that they are trying to do too much on their own and need to involve the team more in managing their own performance. Having a strong admin person drive the process and serve as a project manager can be very helpful.
If you find a client perpetually unprepared for scheduled work sessions or continually postponing meetings, it's time to take a step back and assess their motivation for moving forward. Perhaps a new issue has risen to the top of the priority list. Perhaps they are running out of "change stamina." Look for ways to achieve some early yardage and quantifiable results. This may help to reinvigorate them.
It's possible you and the client were too optimistic about what could be accomplished. Revisit the goals that you set early on and take them on one at a time. There is no benefit to starting many things and finishing nothing. Take an easy to implement activity and make it happen.
Change is a muscle that needs to be exercised before we get good at doing it. Just like with weightlifting, start with lighter-weight projects and short repetitions. Over time, change muscles get strong enough for some real heavy lifting!