Latest Interviews
‘Peter Czapp – 7 Steps To Building A Competitive Business.’
Posted: Thursday 22nd Nov 2007
Wow! Or at least that’s the initial thought your Super Soaraway Wired Wessex had when it heard the talk given by the Director of accountancy firm The Wow Company, Peter Czapp. We also thought ‘Yay!’, but that doesn’t tie in with the company’s name so well, and nor did ‘Yipee!’
But anyway, we digress. Peter, please introduce yourself and your company. “We’re the Wow company, an accountancy practice but very different from the other accountancy practices out there. Most accountants look back on the previous year’s accounts, and of course that information is out of date.”
Peter has an alternative, however. “What’s much more interesting, much more exciting for the business owner, is to actually work with someone who’s going to look forward, someone who’s going to plan the future of their business and work with them to achieve it, by helping them focus on the things that are really important and driving them forward to achieve their objectives. And that’s what we do. We’ve got some great clients, who are ambitious and have recognised that they will be successful on their own but would be much more successful with a great team around them, and we provide that team.”
In other words, you’re trying to make accountancy a dash more exciting. Yet, you must have had some reason to do it that way… “We kind of got a bit sick of accountants getting away with it. So traditionally, accountants – we think – have just delivered ordinary service at best and occasionally some terrible service; just turning up, doing the numbers and then leaving the customer. We felt the customer deserved more and we wanted to provide a complete package that really worked. We’re passionate about helping businesses grow, and we’re passionate about helping our clients achieve their full potential. For them to do that, they need more than a number cruncher. So if people want a boring accountant, that’s fine – there’s plenty of them out there. But if they want an innovative practice that will help them grow, there’s just one choice and it’s Wow. Simple as that.”
Throwing the gauntlet down I see. But you’ve also got 7 harsh lessons every business should learn. “In essence, we’re very lucky in that we’ve worked with some great businesses over the years, and some of them have gone on to achieve amazing things. But not all of them have, and we’ve learned as much from them as the ones that have succeeded. The talk I gave was really looking at what I see as the 7 steps to building a competitive business, the things that separate the good from the great, really.
“Number one is to be different, to stand out. If you’re the same as everyone else, you’ll get the same results. Secondly, it’s important to know where you’re going, to have a clearly defined plan, a written plan. It makes it much easier to work out what you need to do, to know where you’re going. Thirdly, have a financial plan – don’t be like Del Boy and Rodney. “This time next year we’ll be millionaires!” – well, how are you going to do it? You’ve got to have a plan.
“Fourthly, it’s important to have a clearly defined offering; you’ve got to have something they want to buy off of you. Fifth, if you’re smart, it’s going to be a lot easier if you make your customer feel loved and talk to them. Give them more opportunity to buy from you. Also, we have the sixth point, which is to lead from the front. Because you’re the only one who does this. If you want to grow your business, you as the leader of that business need to do it.
“And seven, which is the most important as it separates the wheat from the chaff: just get on and do it. Don’t just talk about it, don’t create the plan and stick it in the desk drawer. If you want to be successful, stop thinking and get on doing. The most successful businesses we’ve come across are absolute masters at getting on and doing stuff. They make lots of mistakes and try lots of things, but they realise that quick decisions are the best ones and crack on.
Peter does think, however, that not everyone gets it – but the company has been embraced by those in the know, “by those people that have recognised that they’re going to be successful on their own but they can achieve so much more by working with an expert team. They absolutely love what we do. These are what we call the smart people in that most of those out there, running their businesses – they’re doing OK. And they’ll carry on doing OK.
“But a lot of people don’t just want to do OK, they want to take their business onto the next level. They want to be different to everyone else, to achieve something truly outstanding. And these people absolutely love what they’re doing. They love having a business advisor, they love having an accountant, and they love having a wealth manager. And with us, they get all three people, around the table, helping them move their business forward.
“So, for those people who are serious about growing their business, they like what we do. And it’s kind of self-selecting: if you want to carry on bumbling along, then that’s fine. We’re not for you. But if you want to do something serious, then come and join us and we’ll be with you every step of the way. We get a huge kick out of seeing these business grow. We get a real pleasure from being with the business owner every step of the way as their business progresses.”
So of course, Peter is very grateful for all those firms who want to be… more. Or at least make lots more money. “I just want to thank our clients, really. They work really hard and it’s really tough out there, running a small business. It’s not easy, and if it were easy everyone would do it. So I’d just like to thank all the entrepreneurs out there for giving it a go. These are the guys that inspire us to go to work and help them move on to the next level. I think all the entrepreneurs out there deserve a big round of applause.”
Indeed.