Symptoms Versus Causes

Strategy and the Virtual Controller

Ever wondered how tackling the root causes of business problems instead of just the symptoms can transform your efficiency, especially during the hectic tax season?

Hosts Damien Greathead and Penny Breslin discuss the crucial topic of identifying and addressing the symptoms and root causes of problems in a business process, especially in the accounting field. They emphasized the importance of stand-up meetings, having cross-team communication, and using the right tools to increase efficiency. They also highlight the need for identifying the root causes of problems rather than masking the symptoms, drawing parallels between dealing with problems in business and daily life. They also delve into specific cases they have encountered, such as dealing with issues of workflow, the effectiveness of having a third-party perspective, and how to optimize roles within a business.

[00:00 - 12:03] Team Leaders and Group Meetings and Applying Personal Experiences to Business Practices

• Penny and Damien talk about the onset of tax season, with Penny outlining the office's current tasks.
• The focus shifts to the importance of team meetings, specifically addressing the recent change from group to individual team leader meetings,
• Shared problems and goals can benefit from collective problem-solving.

[12:03 - 22:07] The Importance of Identifying and Addressing Root Causes and Building a Culture of Trust and Accountability

• Penny and Damien talk about the importance of identifying and addressing the root causes of problems
• External perspectives and early problem identification are valuable in teams.
• They discuss how to improve efficiency and effectiveness in tax return process

[22:07 - 39:06] The Role of Firm Administrators in Workflow and The Impact of Different Processes on Team Morale

• Penny and Damien share strategies for fostering a culture of personal accountability.
• Creating a supportive work environment, encouraging open acknowledgment of mistakes, and the value of external perspectives are valuable in identifying and solving problems.

Direct Quotes:

"It takes a great culture to be able to put your hand up and say in front of other people, 'We screwed up the buck stops with me and we're going to fix it.'" - Damien Greathead

"You might find that the ten of you together could come up with a solution better than one-on-one." - Penny Breslin

-----------------------------------------------------------------------------

Thank you for listening. Please like and share this episode with a friend!

Websites: https://moneypennyllc.com/

LinkedIn: https://www.linkedin.com/in/damiengreathead/

Twitter: @Damien_GH

LinkedIn: https://www.linkedin.com/in/penny-breslin-0228b81/

Twitter: @pennyb57