One of the more common questions I get these days is “What made RightWay different?”
It’s a question I think about carefully before answering as there was more than one thing that made this entrepreneurial accounting firm very different.
Why did this company grow so fast? How did it go from a team of 18 to 85 inside two years?
Before I answer that, let’s take a glance at a typical accounting firm with multiple partners. If you work inside one now as a partner or even if you are not a partner, you will know that the wheels do not turn fast.
Larger firms were generally slower to make the change to cloud accounting and even today they are slow to make big changes. The term we often used when describing the bigger firms was ‘cumbersome’ because they lacked agility and were like cruise ships when compared to the smaller firms who are like jet sprint boats and could tun on a dime!
RightWay did not always get it right and there were certainly some weaknesses in the business model that they are still overcoming. But one thing they did get right was setting a corporate structure. The partners were not major decision makers in the business and instead the company was run by an executive team.
RightWay had a CEO, CFO, Head Of People and Performance (HR), Head Of Recruitment, Head Of Sales & Marketing (Myself) and A Head Of Operations. This was done deliberately so as to allow the business to move quickly and not get bogged down with partner discussions and debates on what was right.
Of course there will always be debate on whether the directors should have held any of these positions, but for the most part this structure was fundamental in the growth of the company because the Execs like myself were able to make decisions quickly and autonomously.
While I see some larger firms are now hiring internal execs to manage certain parts of the business like marketing, they are still hamstrung by partner hesitation and more often than not still need to run strategies or major decisions past a team of partners who are all driven by their own agendas and personal views on how they wish to see their workplace operate.
I have seen many firms take months just to discuss if they are going to hire a marketing person, outsource to a marketing company or run the marketing themselves internally among the partners. Meanwhile not realising they are missing out on massive amounts of revenue.
So, back to answering the question on what made RightWay different… it’s a two part answer.
- They recognised that Sales & Marketing along with other areas of the business were critical to success
- They set a corporate structure to ensure these key areas of the business moved quickly and were not hamstrung by partners
So there you have it, that is one of the main areas where RightWay set themselves apart from the industry norm and for the most part was a very successful shift. They didn’t allow the business to be slowed by partner input and decision making.
Happy marketing to you all!