Why every business needs a signature solution

Nishi here at N-accounting. I hope you’re having a great day and that you are all safe and well. So today’s video, what I want to talk about is why every business needs a signature solution. So, that’s the term signature solution might not be something you’ve come across before but what I want to do is I want to explain what it is and why it is really, really important. And then give you an example of how it could work. You might have heard in business, the adage, people buy people and when you are self-employed that’s great. You’ve got a unique personality and you help a particular type of person better than others. When you come across that type of person they’ll want to work with you because they can see that you’re like-minded and they want to actually, they want to benefit from what you’ve got to sell.

So the whole idea of people buying people is great until you start becoming a bigger business and actually you realize, well, you can’t deliver every single element of the service yourself because you’ve got team members. So then you’re in a position where you’ve got clients that signed up, who want to work with you because they bought you and your personality and the way you do things but then they’ll end up working with other people in the business. I’m assuming, well, assuming that you train your team well, then that team will exhibit a lot of your personality and then that’s not going to be too much of a challenge for the clients you’re working with because they are then still dealing with relatively like-minded people.

But one thing that is better than having clients sign up to work with you is having clients sign up to work with your solution. So this is what we call the signature solution and what the signature solution is, is it’s a collaboration of services that you have, that you’ve handpicked and identified that your target market need. And because you’ve packaged those services up into a solution, then the synergy that is created from all those services working together, will give your ideal customer their desired result and hence they’re then not paying for services, they are paying for that desired result and the solution that you provide to give them that desired result. So I’ll show you an example of our one and talk you through what its components are but one of the things that is really, really important when it comes to how a signature solution impacts and drastically improves your profits is when you have a signature solution, you can then change your business model to not just charge what your competitors charging or maybe a little bit more than your competitors.

You can come up with your own value based price based on what the outcome of that solution is and what you’re actually giving your customers. So for example, if you’re a plumber and you are charging out about 50 Quid an hour, just like a lot of the other plumbers in your area, that’s fine but if you’re a plumber and really you want to be making 200 pounds an hour, then it can be difficult to do it unless you clearly state how you’re different and how your solution is different. So your solution might not just be a plumbing solution. It could include home maintenance, it could include a load of other stuff that’s involved and because you packaged it altogether and you might have subcontractors to help do that, then actually suddenly people aren’t then comparing your pricing to other plumbers.

What they’re doing is saying actually, okay, I can see the benefit of having someone deliver all of this stuff together so I’m willing to pay for that benefit because that benefit is worth X to myself. So I’ll give them a proportion of it and overall I’ll still be better off. So, that’s what the solution does. It makes it much, much harder to… Essentially a solution eliminates your competitors because it means that you’re not doing the exact same thing they’re doing. You’re doing something different and adding value in a different way. That’s a really important reason you need a solution. What I’d like to do is I’ll share my screen with you and I’ll just give you a quick overview of how I built my solution and what it essentially does. So this, our signature solution is called Apex and I want to go through the whole presentation but this is essentially it.

This is the great thing about signature solutions, by the way, they are much, much easier to explain to people because quite often, signature solutions can fit around some kind of shape and also have some kind of balance to them. So what we’ve got here is we got three milestones. So, well, more importantly, we’ve got the desired result in the middle. So our signature solution is about helping people achieve cashflow freedom. And as I mentioned in a previous video, cashflow freedom is different from financial freedom because it relies on your business to give you that recurring and residual income rather than other investments. So our solution is to help people achieve cash flow freedom and these are the three milestones that, say we’ve got the assistance, awareness and alignment milestones in getting them to that dream of cashflow freedom and then each milestone has a strategy.

These are, each milestone has three strategies. So overall is three milestones, one result and nine strategies to help people achieve those. So these nine strategies are essentially the nine components of our business, that the nine services that we provide that help them achieve those milestones and once they’ve achieved all those milestones, they will have the thing in the middle, which is cash flow freedom. So, just as bit of an overview part, we do what a lot of accountants do so we’ve got the assistance element. We save them tax, we get their tax work done and accounts done and we keep their accounting software up to date. Then what we’ve got is awareness. So this is about helping people build their ideal business model. It’s about making sure they understand where they’re heading, where they currently are. It’s about helping them maintain healthy cash flows through planning.

And then we’ve got the alignment milestone, which is about connecting people from where they currently are to their target. So we have quarterly planning days as part of that. We’ve got weekly Q and A sessions, a group Q and A sessions is part of that and then we’ve got something called our million pound processes course. So what this is though is a signature solution. The reason we can charge more for it, although it’s very reasonable and good value but the reason I can charge more for it than maybe other accountants make is because no one can take this and compare it to another quote they’ve got because no one else offers this. So what I’m saying ultimately is that’s how a signature solution is really going to help you improve your margins and as I said before, margins are absolutely key at the moment because we’ve got inflation that is just out of control.

Everything’s costing more. We all need to start making more profit so we can pay our staff, we can pay ourselves and then we can invest in the future of our businesses and the future of the economy. So if you found this video useful, remember to like, share and follow and subscribe and if you want to find out more about our Apex model and also how it can help you make your own signature solution, then get in touch and book yourself in for free strategy session. Okay. All right. Merry Christmas and happy new year.

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