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Advice from Perth-based Business Advisors about Enhancing Leadership
When you’re buried in daily operations and your leadership team struggles to hit the right notes, the whole business’s performance suffers.
At Munro’s, we see leadership as a secret ingredient to turning everyday chaos into a symphony of success. Our seasoned business advisors in Perth understand that when your leaders work in concert, around a defined and compelling strategy, every facet of your small or medium business can thrive.
When you’re ready to talk about what we could do for you, please book a meeting or send an enquiry.
Problem 1. You Don’t Even Have A Strategy
If you don’t have a crystal clear strategy that everyone knows, then you’re likely to find one person going off in one direction, another going in a different direction and perhaps another somewhere else.
Solution
Strategy, strategy, strategy!
Outcome
Aligned leaders understand precisely where they’re meant to be going.
Read Key Points & Transcript
Your Business Needs a Strategy Plan
video key points
- Understanding your business strategy is crucial for enhancing leadership; every leader should be clear on what it is and what their strategic tasks are for the quarter.
- A clear, ambitious, and hyper-focused strategy is the bedrock of business direction, driving and inspiring all to achieve set goals and create a competitive advantage.
- Ensuring leaders are aligned and moving in the same direction is essential for them to perform optimally, highlighting the importance of a unified strategic vision.
- A well-constructed strategy not only benefits internal leadership but also defines the value proposition for customers, enabling effective communication of this value.
- Equip your leaders with the necessary knowledge and tools to excel; don’t demand excellence without providing the means to achieve it.
Presented by: Drew Pflaum
video transcript
If we came to your office and spoke with each of your leaders, will they be able to tell us what your business strategy is?
Let’s assume they can give some answer to that question. Are you confident each of your leaders will provide a clear and focused explanation of your strategy? Will they know what strategic tasks they have to perform this quarter to move your strategy along?
We know they won’t. Otherwise, you wouldn’t even be watching this video and contemplating what it is that you can do to help enhance leadership within your business.
To enhance leadership, you have to get everyone to know your strategy.
Your strategy is the bedrock of your business’s direction.
A clear, ambitious and hyper-focused strategy will detail your goals. It’ll include a series of actions that drive and inspire the entire business to achieve those goals and create a competitive advantage.
It’ll enable your leaders to get on the same page. To drive down the same road. A necessity for them to perform at the top of their game.
Outside of directly enhancing leadership, a well-constructed strategy stipulates the value proposition you offer to customers. Enabling you to communicate this effectively to them.
Don’t be that business which demands the world from leaders but doesn’t equip them with what they need to excel.
Problem 2. Meetings Last Forever, But Don’t Actually Achieve Much
If you find yourself walking out of a meeting with little resolve on what is actually going to get done, or you find yourself in meetings that are mostly focused on short-term budgets and firefighting, you’ve got a seriously problematic time-wasting issue.
Solution
Strategically focused meetings with accountabilities.
Outcome
Meetings actually translate to better outcomes, rather than wasted time.
Read Key Points & Transcript
Fix Wasteful Business Meetings
video key points
- Effective leaders ensure meetings are focused and outcome-oriented, driving the business forward by executing its strategy effectively.
- The differentiation between successful and exceptional businesses lies in their ability to prioritise and execute the right actions, standing out from competitors.
- Meetings should not only discuss strategy but also assign clear responsibilities and accountabilities to team members, ensuring progress towards strategic goals.
- Common meeting pitfalls include a lack of clear decision-making processes and consensus ruling, leading to inaction and inefficiency.
- For tangible improvements in meeting efficacy and strategic execution, adopting best practices in meeting management is crucial.
Presented by: Drew Pflaum
video transcript
Transcript available on the Small-Medium Business Boards page.
Problem 3. You’re Not Embracing Boardroom Conflict
Less than ideal decisions, and long-term deterioration in business performance, may arise when questions are put to the group and there is silence or bickering ensues.
Solution
Embrace conflict
Outcome
More productive relationships and better decisions propel the business forward.
Read Key Points & Transcript
Debate For The Best Decision
video key points
- Embracing conflict within a high-trust environment is pivotal for leadership and business health, fostering a willingness to engage, debate, and depend on others.
- The presence of conflict, managed well, leads to better decision-making, whereas its avoidance due to low trust results in poor outcomes and resentment.
- Trust and conflict are intertwined; establishing a culture that supports constructive conflict requires building trust over time.
- Evidence-based approaches guide the process of enhancing trust and conflict management, drawing on studies to inform strategies.
- To explore strategies for building a high-trust culture that positively engages with conflict, consider booking a complimentary meeting.
Presented by: Drew Pflaum
References page.
video transcript
Transcript available on the Small-Medium Business Boards page.
Problem 4. You Should Have Better Leaders
If all your business leaders aren’t growing they’re capabilities by at least as much as your growth ambitions, the business may find itself drifting as opposed to growing.
Solution
Hone capabilities
Outcome
Leaders who are capable of growing your business.
Read Key Points & Transcript
Enhance Leadership Skills
video key points
- Promoted leaders often excel in technical skills but may lack essential leadership abilities such as managing, delegating, mentoring, and inspiring. This mismatch can impede their effectiveness in leadership roles.
- Leadership development should not be left to chance; targeted education and experience are crucial for enhancing the skills necessary for effective leadership.
- Incorporating leadership enhancement programmes, tailored to the business’s strategy and 90-day actions, makes education relevant and immediately applicable.
- A blend of group workshops and online learning, designed for cost-effectiveness, strengthens in-house capabilities, supporting business growth. Additional coaching and participation in leadership groups can further improve boardroom leadership.
- Munro’s Business Academy offers access to vital business leadership knowledge, and for tailored learning, a Get To Know Each Other meeting is encouraged to explore customised solutions for team capability building.
Presented By: Drew Pflaum
video transcript
Growing businesses will have growing numbers of leaders.
In many cases, these leaders are promoted from within the business. They are commonly promoted because of stellar performance. However, a potential flaw with this is that it is the leader’s technical skillset in getting work done that gets them promoted, whereas the skillset they need to perform as a leader is quite different. E.g. the ability to manage, delegate, mentor and inspire.
Some people learn leadership skills through the hard yards of experience, and some really struggle without appropriate education.
Whether your leaders are in, or out of, the boardroom a business seeking growth should be needing its leaders to become the best they can be. Without educating them, that’s a tough ask.
We don’t think leaving it up to leaders to learn to be the best leaders is something that should be left to chance.
Always keeping the financials in mind – i.e. cost and return on investment – leadership enhancement programmes should be incorporated into your business to enhance leadership.
The more targeted and relevant the programmes the better.
Your strategy and applicable 90-day strategic actions should greatly influence what leaders are taught. This is because enhancing your leaders’ skills with a regard to the present strategic actions is making the learning relevant and useful. It’s called Just-In-Time Learning.
Just-In-Time Learning is commonly designed to be cost effective by utilising a combination of group workshops and online learning. When designed and implemented well, your business develops stronger and stronger in-house capabilities, ideal for enhancing business growth.
Boardroom leadership may also be improved with similar learning, and also with the addition of coaching and/or regular participation in business leadership groups.
With these things in mind, we encourage you now to sign up to the Munro’s Business Academy. Also share the link with your leadership team. You and your leaders will gain access to some of the business leadership knowledge we have to share.
In due time, for more tailored learning and capability building for your team, we invite you to book a Get To Know Each Other meeting.
Problem 5. Employees Aren’t Involved So All You’ve Got Is A Plan
If employees don’t know the strategy, don’t understand why certain decisions have been made, don’t understand exactly how to perform their role in strategy execution and don’t have a say in continuous improvement of the strategy, then your “plan” isn’t likely to get you very far.
Solution
Never in isolation
Outcome
Successful strategy execution.
Read Key Points & Transcript
Involve Employees in Strategy Planning
video key points
- Strategy formation is often perceived as straightforward, but the true challenge lies in its implementation, hampered by rigid organisational structures, counterproductive work cultures, poor communication, and insufficient employee involvement.
- Research highlights the critical need for leaders to enhance their skills in executing strategies, involving middle management more effectively and ensuring continuous communication and understanding of strategic objectives across all levels.
- For successful strategy execution, it’s essential for employees to not only be aware of the strategic plan but to deeply comprehend it and actively contribute to its continuous improvement and refinement.
- Encouraging a culture where insights from every level of the organisation can influence strategic decisions is key to avoiding the common pitfall of neglecting the strategic document in the hustle of daily operations.
- To stand out, investing in the development of capabilities for executing exceptional strategies is recommended. Explore Munro’s Business Academy for inspiration and consider scheduling a ‘Get To Know Each Other’ meeting to further your business’s strategic execution abilities.
Presented by: Drew Pflaum
video transcript
It’s a fairly common view that strategy formation is the easy part. Leaders are already decent at it.
It’s strategy implementations which broadly needs to be improved.
Rigorous research in this area has found that strategic execution is significantly negatively impacted by:
- Strict regulatory and organisational rules.
- Organisational structures.
- Work cultures.
- Lack of communication.
- Lack of employee involvement and understanding.
Enhancing leaders strategic execution knowledge and skills to carry out the strategic plan is accordingly pivotal.
Leaders at the top need to know to involve middle managers. Truly involve them.
They need to know that once-off or intermittent communication of the strategy is seldom enough. They need to develop and refine their skills of discussing strategic affairs with their team.
Not only does the wider team need to know the plan, but they also need to understand the plan. Even more so, they need to be encouraged and enabled to drive continuous improvement. To help insights make their way from employees to the board. This is how your business enhances the continuous cycle of strategy refinement and execution.
We don’t want to see you stumble. To be like countless other businesses who are too caught up in the day-to-day grind with a strategic document that is neglected, gathering dust.
Separate yourself from the pack and invest in enhancing your business’s capabilities to execute a phenomenal strategy.
See the Munro’s Business Academy for some further inspiration and book a Get To Know Each Other meeting at your earliest opportunity. You’ll be very pleased you did.
In that video you just watched, we mentioned some research.
If you’d like the references, simply head on in to the Munro’s Business Academy and you can find them on the Reference page.
Frequently Asked Questions for Enhancing Business Leadership
- What is leadership advisory?
Leadership advisory involves a comprehensive review of your current leadership practices, followed by the development and implementation of strategies to enhance leadership performance within your small or medium-sized business. - How can improving leadership benefit my business?
Better leadership leads to improved decision‑making, increased employee engagement and a more robust competitive advantage. It also fosters a culture of accountability and transparency, which can drive sustainable, profitable growth over the long term. - Who can benefit from your leadership advisory service?
Our service is designed for business owners, board members and managers who are looking to enhance their leadership team’s performance. Whether you’re a small or medium‑sized business, a tailored approach can help you overcome leadership challenges and drive better business results. - What do people say about your business advisory services?
You can read about what people say by viewing our 100+ five-star Google reviews. You’ll notice people often comment about our specialist knowledge, responsiveness and value delivered. - What is the pricing for your leadership advisory service?
Our pricing is transparent and reflects the complexity of your needs. We offer tailored packages to suit your business size and leadership development requirements. Please visit our pricing page or contact us for a personalised quote. - Are your leadership advisory services available outside of Perth?
Yes. While Munro’s is based in Perth, all our business advisory and accounting services are available across WA and Australia-wide. - How do I get started?
Getting started is easy – simply book a free Get To Know Each Other meeting. During this initial meeting our business advisors will hear about your leadership and business challenges, what you want to achieve and begin exploring a tailored approach, including outlining the next steps to transform your leadership team and overall business.
Where To Begin
Come Along To An Improve Session
First Session is FREE (incl. GST)
Upskilling Event for Business LeadersTop 2% ranked Australian Accounting Firm
Claims of being a ‘Top 2% ranked Australian Accounting Firm‘ (and similar claims) are based on two separate assessments conducted by Munro’s on 9-10 August 2023 and 1 December 2023. The ranking is derived from a comparison of the total of each accounting firm’s overall star rating multiplied by each firm’s quantity of reviews as shown on Google Maps. A total of 4,235 Australian accounting firms listed on Google Maps were identified for the earlier assessment, and a total of 4,301 for the latter assessment, which may not represent a complete list of Australian accounting firms. Munro’s claims are based on Munro’s best estimation and represent a snapshot collected at the time of each assessment. If the assessment was to be conducted today, then it is likely that Munro’s ranking would have changed – Munro’s may or may not be in the Top 2% today. Also, the methodology does not account for other potentially relevant factors such as quality of service, expertise, or client satisfaction beyond Google Maps reviews.
Read Key Points & Transcript
video key points
- Top 2% ranked Australian Accounting Firm is based on two separate Munro’s assessments of Google reviews for Australian based accounting firms on 9-10 August 2023 and 1 December 2023.
- Both assessments found Munro’s to be in the Top 2% (position 66 out of 4,235 and position 44 out of 4,301 for the assessments, respectively) when a ranking was derived from a comparison of the total of each accounting firm’s overall star rating multiplied by each firm’s quantity of reviews as shown on Google Maps.
- If the assessment was to be conducted today, then it is likely that Munro’s ranking would have changed – Munro’s may or may not be in the Top 2% today.
Presented by: Drew Pflaum
video transcript
In December 2023, we conducted a review of Australian accounting firms on Google Maps, based on star rating and quantity of reviews.
Out of the 4,301 Australian accounting firms we identified on Google, Munro’s ranked number 44, placing us in the Top 2% of Australian Accounting Firms. We’re thrilled to share this fact with you and share those reviews on our website. We’d also like to thank all our clients who left us those wonderful reviews.
Thank you.
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High quality and professional advise. I would highly recommend Munro’s if you are looking for a quality team to work with.
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Our Munro’s Experience began approximately 38/40 years ago. Steve’s parents were already customers of Munros, in particular Barry Virgo, and we followed suit.
For the first couple of years we had several changes of Accountants at Munro’s (we always got the newbies and had to ‘train them up’ to know how to get the best deal from the Tax Office for farmers. We became fed up of this system. Our last newbie was Simon Strawbridge. Well, we got him “trained up right proper” then they wanted to give us the next new one, but we stated we weren’t changing.
Today, Simon is still our go to man. Whilst we understand there have been many very efficient people working in the background on our business affairs, for which we thank them sincerely, we have always maintained our professional relationship with Simon.
We have been through some big business changes in our farming adventures over these past 40 odd years, and the advice, help and professional assistance has been 100%. At times we didn’t know who to trust to give us the best business advice and we were fortunate to be able to lean on Simon’s vast knowledge to help us make these decisions.
Our working partnership of having our taxation needs, investment portfolios, wills, etc. linked in with Munros and the great staff has been successful.
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Wonderful support and response from the team at Munros. We have been with them for many years covering both business and personal matters. It is a credit to both past and present staff.
Thank you
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The team at Munro’s were incredibly understanding, helpful and professional when providing advice tailored to my needs.
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On behalf of our farming family, congratulations on 50 years. We have been with Munros 3 generations starting I think when My Grandmother switched at the start. My late Father always had good dealings with whoever was assigned to us which there have not been too many over the 50 years which I think may be a reflection of the stability and integrity of Munros. Simon Strawbridge who was the new kid on the block back in my fathers day and the rest of the team has always provided us with great service and we thank the whole team for their support over the years.
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Crypto trading is a new thing and I believe, just like many others I had made lots of mistakes not knowing that trading Crypto is a taxable event. Lucky, there is someone knowledgeable about this matter.
Great education and support in this challenging time I have received from Drew the man!
The level of communication is top, accurate and precise. They put their heart into the work to help out their client. Highly recommend if you are seeking a Crypto tax return service.
Thanks Drew the man and Michael.”
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Our dealings with Drew Pflaum of Munros were a revelation to my wife and I. Never before had we encountered a business accountant with such dedicated commitment to his clients. Drew’s work ethic is outstanding. When we found Drew online we were in desperate circumstances, faced with the loss of our two properties.
His empathy, hard work, patience and breadth of knowledge was incomparable and took us from despair to hope very quickly. He worked out strategies that bought us time and helped us immensely.
Without Drew’s input our future prospects were bleak. We’re delighted to have had the opportunity to review our very positive experience.
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Munro’s were able to take complicated tax matters like cryptocurrency trading income for a new company and turn it in to a simple solution for me. Drew has always been amazingly patient and helpful, answering emails quickly and taking the time to respond thoroughly so the matter could be clearly understood. Highly recommended for any tax accounting needs!!
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We have been looked after by accountant Mr Carl Hansen. We are very grateful for his help on our tax matters. He is very thorough, knowledgeable and easy to approach. Highly recommend!
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They know what they are doing. No matter how complex your accounting is, Munro’s is the way to go. They also have international experience. Drew and Mike’s expertise and responsiveness won’t disappoint you.
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308 Fitzgerald Street
Perth WA 6000