Corelytics Business Advisor Program Overview

Overview of the New Corelytics Coaches Network Program

Tony LaelExecutive Vice [email protected]

Kris FuehrChannel Program [email protected]

Corelytic

• Founded by professor of finance, Frank Coker who noticed a few things wrong…

• Since 2005, a passionate for small businesses– 2,000 customers– 11 countries– $2B in aggregate accounting tracked last year

Award-winning financial dashboard

Business Owner Climate

• Owners working in their business, not on it• No visibility on their business

A 2010 Perquest findings survey showed that accounting practices are challenged to keep pace with rising customer demands and business change.

Accounting Industry Climate

• Seasonal, compliance business• Desire to business advisory services

– 60% want trends & benchmarks– 65% want help applying best practices– 52% want consulting best practices

*2010, Perquest study

Tax-time is a perfect time to start! “We learned a lot from your numbers this year. Should we continue to track these and make improvements for next year?”

New Breed of Advisor

• Offers diagnostic services• Supports strategic decisions• Serves clients year-long• Compares client performance• Gives clients a clearer view• Aides in sharing performance with staff

We introduce…

1. Better counsel to your clients; add more value

2. Fill your seasonal revenue gaps

3. Use best practices within a community of new breed of accountants. NextGen Accountants*

*Edi Osborne, MentorPlus

Benefits• Recurring revenue yearlong• Save time collecting data; no manipulation• An easy platform to set up and use• Insight to client goals, trends, benchmarks• Business support and best practices• Marketing support for visibility with prospects• Peer Networking with NextGen Accountants• Continuing education to sharpen the saw

Income Opportunity

$100,000+ annual revenue

30 Clients; 1 hour/ month

$300 per month/client

Service Package:1. Initial assessment

2. Setup & goal setting

3. Monthly review

Coach Spotlight

M&A- focused

Bob Dale, Austin, TX

Corelytics helped us in at least 3 ways: 1. Geographic expansion

2. Monthly income to fill in revenue “valleys”

3. Allows us to start working with clients months or years before their M&A

Tips• First, review client’s financial picture to learn how they operate• Review dashboard before each coaching session • Don’t make changes to the system yourself, direct the client to • Use a screen-sharing tool such as GoTo Meeting, Join Me• Standardize your agenda for tracking commitments, goals, priorities, and tasks

that the client commits to. Help keep them accountable.

austindalegroup.com

Coach Spotlight

• George Siergio• Client perspective

“It’s become an integral part of our business”

Growth Paths

Premium Coach

15 clients & $1300 or 5 clients & $3000. Branded dashboard

Community CoachRecommended as trained & specialized “go-to-coach”

Master Coach*Train & sign on affiliates to earn when they earn

A Coach can grow to become…

*H2, 2012

Continuing Education

• Corelytics guidance plus:

• Continuing Ed. opportunities aligned with top accountant trainers such as MentorPlus®

www.mentorplus.com

Marketing & Visibility• Coach storefront in directory• Speaking, PR engagements• Joint-webinars & events• Association communities

Getting Started is Easy

1. Sign up as Corelytics Coach

2. Set up your FREE dashboard

3. Select first 5 clients before you pay your $450 Coach Registration Fee

We provide training & initial customer setupsNo contractsYou set your own prices

USING THE DASHBOARD WITH CLIENTS

Tony Lael Presents

TIP: Learn Corelytics for Your Company

• FREE Demo account• Register for training

• Analyze your company– You experience dashboard– Speak to client’s with experience– Helps your own company improve

3 Things Great Coaches Do

1. Qualify Good Clients

2. Have a Process

3. Show Clients the Picture & Discuss

1 Qualify Good Clients

• Any Industry (Services, Product, Projects, T&M)

• They are searching for something…– “I need to be accountable to someone”– “We don’t get what we need from reporting”– “We don’t know what to focus on to improve”– “I’d really like to know what my business is worth”

• Need a trusted advisor

TIP: Use Management Assessment

• Interview new clients• Earn trust • Learn about your

client and how they assess themselves

• Provide 1-2 page Analysis Report

Results from Assessment

BEFORE AFTER

2x Revenues

5x Profit

2x Revenue/FTE

2 Have a Process

• Assess Current Position• Set Goals on Key Metrics• Regular Conversations

– Watch trends, pace on goals– Identify high growth potential areas– Spot problem areas– Compensation to owners– Have a conversation! – Analyze line of business performance

• There is always a low performing LOB

Using Corelytics to Coach

Analyze

Results

Prep for Client

Client Discussion

Assign Priorities

Analyze client performance(Proxy to Client)

Create agenda for discussion with client (< 30 min)

Show client the picture and discuss (review progress on priorities)

Guide client to assign people to get the job done

(1 hour)

TIP: Use Goals to Track Metrics

Top 10 - Revenue- Margins- Profit- Revenue per FTE- Expense per FTE- EBITDA- Travel/Entertainment Expense- Sales Expense- Marketing Expense- Cash

Make sales

Create process efficiencies

Support use of technology

Innovate

Support clients/customers

Use MetricDefine Business Need

Link Behavior to Metrics

Client Opt-InClient Adds your company as Affiliate Configuration > Business Profile

You proxy to client’s company to see performance

Analyze Client PerformanceReview recent performance against goals

Drill down on problem areas and success areas

CombinedEach LOB

Drill to Get DetailAnalyze, spot successes and problems

PROFIT

3 Show Clients the Picture & Discuss

• Don’t strand your client with a report• Deliver on value

– “I need to be accountable to someone”– “We don’t get what we need from reporting”– “We don’t know what to focus on to improve”– “I’d really like to know what my business is worth”

• Start simple

Tip: Sometimes simple is better

Do you and your clients see where their business is headed?

Thank You!

Tony LaelExecutive Vice [email protected]

Kris FuehrChannel Program [email protected]