MBM Chartered Accountancy Audit Firm
Spokesperson: Ray Mulligan, Sole Partner
The Challenge
Our company, MBM Chartered Accountants, began as a partnership. However, I decided to buy out my partners to become the sole decision-maker with the aim of growing the business more effectively. As the sole partner, I faced the challenge of having no one to bounce ideas off, and I needed a platform to strengthen our market position. This led me to join the 50X Transformation programme from SME Matters. The programme's focus on sharing knowledge and mutual support was particularly appealing as I sought insights and guidance to improve our business operations.
The Learnings Achieved
Being part of the 50X Programme for nine years has been incredibly enlightening. The programme has broadened my perspective on business management and growth. The Facilitators approach to tailoring the material based on our shared business challenges has been highly effective, providing relevant and actionable insights. Key learnings for me included:
Key Learnings
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Understanding Common Challenges
Realising that the challenges faced by my firm are similar to those in other industries was reassuring and provided a sense of solidarity.
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Applying Peer-to-Peer Learnings
The strategies and solutions discussed within the group have been directly applicable to our business.
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Cultural Insights
Learning about different cultures has helped me get the best out ofemployees and clients.
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Hiring and Outsourcing
Understanding the importance of hiring the right people and the benefits of outsourcing, as it is not feasible to handle everything alone.
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Accountability
The peer-to-peer aspect has been invaluable in holding me accountable to implement the strategies discussed, leading to continuous improvement.
The Result Achieved
Participation in the 50X programme has led to several significant improvements in our business:
Improved Resource Allocation: Focusing on high-impact activities and not gettingbogged down in daily tasks has enhanced our resource allocation.
Sourcing Good Talent: We have developed effective strategies for attracting andretaining top talent, which is crucial for growth.
Enhanced Leadership Style: My leadership approach has evolved, becoming moreadaptive and responsive to team needs, resulting in better overall performance.
Better Communication: Improved communication skills have positively impacted bothinternal team dynamics and client relationships.
Overall, the 50X Transformation programme has been an invaluable business transformation tool. The combination of peer support, knowledge sharing, and accountability has equipped me with the skills and insights needed to drive MBM Chartered Accountancy Audit Firm towards continued success. If I were to describe the programme in three words, I’d say it has been an "invaluable business transformation."