The work we do can often be complex, but we always try to keep it simple. Listed below are answers to questions we are often asked.
- How will I know if Vectis can do what I need?
- Is Vectis a business coaching service?
- Does Vectis charge by the hour?
- Will I just get a business plan?
- My business is different, so I need an expert in my industry to help me
- My business is not in Brisbane, can Vectis still help me?
- My staff need training, can Vectis do that?
- I already have consultants doing some HR work and marketing, why do I need to use Vectis?
- I don’t have time to attend waffly meetings filled with consultant-speak.
- I’ve had consultants before who just give me a list of things to do, then watch from the sidelines. Is that how Vectis operates?
- How will I know what is being done by Vectis?
- My accountant gives me some business advice, how is Vectis different?
- Will I be locked into a contract with Vectis?
- How much does this service cost?
Q1: How will I know if Vectis can do what I need?
A: Because we will clearly discuss your challenges and our approach up front. This starts during the first complimentary consultation where we dig into your current situation and future expectations, and explore what needs to be done for you to successfully move forward. It’s not in our interest (or yours) for us to make promises we can’t deliver, so we’ll certainly let you know if we don’t believe Vectis is the right match for you.
Q2: Is Vectis a business coaching service?
A: Sort of, but more. The Vectis method covers a much wider range of client engagement methodologies than just ‘coaching’. Our work is better described as hybrid style of management consulting as it includes consulting, training, and coaching, working at a deeper hands-on level to help clients develop and implement suitable business improvement initiatives. Plus, unlike most business coaches our work isn’t limited to monthly discussion sessions; we focus on action-oriented activities which happen on a regular basis as they are needed. Essentially, we become part of your team. However, for smaller businesses with lighter requirements we do offer a very cost effective small business coaching program which is available throughout Australia.
Q3: Does Vectis charge by the hour?
A: No. Never. All our work is done on a fixed fee basis, with the overall investment based on the scope of work required. You’ll know up front what your investment will be, with the all-inclusive fixed fee invoiced monthly. Once we commence an engagement our goal is to focus on the work being done, and the impact achieved for the business, not on the hours spent doing each task.
Q4: Will I just get a business plan?
A: No. In most cases our clients need more than just a business plan document. They need an action plan to implement the most appropriate business improvement initiatives, whether that be increasing staff engagement, improving reporting and accountability processes, increasing revenue, developing procedures, reviewing costs, introducing new products or services, etc. Of course a plan is needed as the foundation for the ongoing business improvement activities, and we address the planning process as part of our Growth Plan phase of the Business Success Ecosystem.
Q5: My business is different, I need an expert in my industry to help me.
A: Many business owners consider their business to be extra challenging because it is “different” or unique in some way. After working across many industries and hundreds of businesses we know that most businesses suffer from similar problems and challenges. Our way of working is to combine our proven processes and experience with your specialised industry knowledge to create a solution that has impact for your business.
Yes, it is true that some industries have special conditions such as regulatory requirements, compliance demands and government funding processes. However, overlaying those industry-specific conditions are usually a range of commonly-felt business planning, management and implementation challenges which we are well placed to assist you with. Be assured that if for some reason we find your business is truly different and needs specialist input we’ll certainly tell you that.
Q6: My business is not in Brisbane, can Vectis still help me?
A: Definitely! We’ve worked with clients in Sydney and Melbourne before, so that’s certainly not an obstacle. There are some components of our work which do require face-to-face communication and we will arrange to do that in-person with you. They are important sessions and we always plan for them well in advance.
We also use video calls (video conferencing) as it is an effective communication option both within Australia and overseas. We’re sure it will work well for you too.
Q7: My staff need training, can Vectis do that?
A: Yes, certainly. Our services include practical, proven in-house training across a variety of ‘soft skills’ which are critical to the successful operation of the business. We provide training customised for each client on topics such as:
Q8: I already have consultants doing some HR work and marketing, why do I need to use Vectis?
A: It’s good that you have some experts helping you. However (from experience) we often find there are many gaps within the business that these separate consultants don’t address, usually because they aren’t aware of them, because they fall outside the specific scope of what they’ve been engaged to do. These gaps, if left unresolved, often become invisible obstacles to achieving business goals.
Q9: I don’t have time to attend waffly meetings filled with consultant-speak.
A: That’s great! Neither do we. Every one of our meetings with you will be for a clear and specific purpose that you will understand. Often we will ask you to do some preparation before the meeting so we, as a team, spend less time talking and more time doing. And because our fees are fixed (not time-based) there is no incentive for us to hold unnecessary meetings or drag them out.
Q10: I’ve had consultants before who just give me a list of things to do, then watch from the sidelines. Is that how Vectis operates?
A: No. Our approach is collaborative and hands-on. At times we will work jointly with you. At times we will do some of the work. At other times we will provide tools and guidance for you or your team members to do the work.
Q11: How will I know what is being done by Vectis?
A: We like to be accountable. Because we work in conjunction with you (there are no mysterious ‘black box’ solutions) you’ll be involved at all times in the decisions about what is being done as part of the ongoing business improvement project. In fact, all work is based on the priorities we jointly establish as part of the Growth Plan phase, so you’ll be setting the agenda for what gets done.
Additionally, we’ll report back to you on a regular basis on what is happening, what we’ve done, what’s coming up next and what is expected of you. This continual communication ensures everyone is always on the same track.
Q12: My accountant gives me some business advice, how is Vectis different?
It’s good you’re getting some input from your accountant, but are you getting the full picture of what you need to do? From our experience, and from research conducted within the accounting industry, we know the majority of accounting firms (81% in fact) are not comfortable giving business advice to their clients. They’re simply not trained for it, nor do they usually have experience seeing inside the day-to-day operations of other businesses for them to be confident in discussions with clients.
Even those accountants who do provide advisory services usually stop short of providing actionable strategies and tools to help you make real changes within your business. The accountants advice is usually focused on financial results with commentary on variations in your specific financial numbers, comparing your business to broad-based financial benchmarks, or suggesting you make changes based on the historical financial data they work with. In contrast, Vectis works closely with you within the business, looking forward, to give you specific practical approaches across multiple areas of your business. We start during the Growth Plan phase and help you implement business improvement strategies throughout the Capability and Capacity phases while we’re developing your Business Success Ecosystem. Working together we help you maximise the value you get from your accountants financial input.
Q13. Will I be locked into a contract with Vectis?
No. We prefer to work with clients who want to work with us, not ones who feel they are forced to. Due to the nature of the mutual obligations we have with clients, and the need to commit in advance to a schedule of work, we do ask clients to agree to our proposed scope of work, which includes the fixed all-inclusive monthly fee. However clients may request a review of that scope, or the sequence of work being undertaken, or even to halt the program, if there are significant changes in business circumstances. Throughout our engagement period we meet regularly with clients to review progress and ask for feedback on our performance, so it’s unlikely we’ll have an “elephant in the room” or unresolved issues that cause distress for our client.
Q14. How much does this service cost?
Each client receives a customised business improvement action plan along with tools, advice and ongoing hands-on help to implement the program of activities. Because we create a customised program (based on our Business Success Ecosystem model) each client will have a different focus for work to be done. Accordingly our fees are tailored to suit each clients requirements. So there isn’t a standard answer to this question. However, as an indication, for an established business if you are comfortable with the concept of adding expert C-level management guidance to your team but only paying for a junior/part-time employee, then we should probably talk.
Need to know something else?
We’d love the opportunity to discuss any questions you have or to arrange a complimentary discovery meeting to explore your situation and assess if we’re a good match to work together.