Believe it or not, standardized processes are the backbone of your firm’s performance. It gives you a baseline to track and measure performance against, telling you whether you’re utilizing all available resources, and allowing you to maximize revenue.

Standardization will also put in place the structure for your team to execute high-quality work efficiently, and provide a scalable infrastructure for your the future growth of your practice.

We asked Jessica from Parable to share her four keys to successfully standardize processes in her firm, which is allowing Xcelerate to maximize growth and scale.

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At our offsite accounting firm, we realized in our early stages of growth that we needed to document our processes for training purposes (ie. hiring new employees to keep up with our growth.)

Knowledge transfer & documentation

As the founder, the only person who knew the business from start to finish was me, and I knew this wasn't a scalable model. Plus, needing to be a part of everything left me feeling quite overwhelmed! So I implemented three things that changed the way we worked and helped make Xcelerate the firm it is today.

I knew I needed to transfer my knowledge, or nothing would change. I had to replace myself by standardizing our processes.

Freedom mapping

We read a book that changed our personal and business lives—Making Money is Killing Your Business. The book’s author, Chuck Blakeman is located in Denver, just one hour from where we're based in Fort Collins, so we began a coaching relationship with his team—Crankset Group.

To help me transfer my knowledge to the team, we started what Crankset Group calls Freedom Mapping—creating freedom by mapping out our processes. It’s just like a budget—but with your time. People think of a budget as constricting, but it actually gives you freedom knowing how much you can spend in various areas. It’s the same with freedom mapping—there is freedom created because you understand what has to be done and how long it takes.