You need to think of your accounting firm as a McDonald's store
Love them or hate them. Whatever you think of McDonald’s, you can’t deny that they epitomize efficiency, consistency, and success.
The fast-food behemoth didn’t become one of the world’s most valuable brands by accident. Their approach to quality standards, process and role specialization is matched by few.
You simply cannot make a Big Mac for $3.99 without first designing one of the most efficient and effective systems in the world.
How relevant is this to your accounting firm? Very.
Here are five lessons you can take from McDonald’s.
Get the raw ingredients right
Every McDonald’s burger includes some key ingredients. The same goes for what your firm is serving. It’s just that instead of burger patties, pickles, cheese and buns, it’s receipts, general ledgers, paperwork and processes.
McDonald's know what they need to run each day. Yes, sometimes they may fall short when there is a rush. But overall, they always have the essentials required to get the orders out quickly.
You need to have your raw ingredients—those things you need most—upfront and ready for use too. Receipts, general ledgers, paperwork, client records and processes are your accounting firm's raw ingredients.
These items need to be organized and readily accessible by everyone on your team to enable them to serve your clients efficiently.
Turn your standard operating procedures into fast food
When you bite into a Big Mac, you bite into one of the most successful standard operating procedures (SOP) in business history.
In the formative years of McDonald’s, the McDonald brothers demonstrated a ruthless drive for efficiency through their pursuit to deliver orders in under 30 seconds. To achieve this, they created an entire concept that still works today—achieving maximum productivity with minimum wasted effort or expense.
When a Big Mac is made, everything is optimized to deliver it to the customer as quickly as possible, while keeping it hot and fresh.
You need to think about your accounting firm’s critical SOPs in the same way as McDonald’s think about Big Macs.
The key to efficient processes is to have as few loops and steps as possible, with each step adding as much value as possible. During your process design, think about how you can bundle processes, automation, and self-service.
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