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GreenStones: The forward-thinking accountancy company
FIRST impressions always count is a philosophy which one Peterborough firm has taken to heart. You are unlikely not to be impressed – at least not to forget in a hurry – your initial moments at GreenStones.
FIRST impressions always count is a philosophy which one Peterborough firm has taken to heart. You are unlikely not to be impressed – at least not to forget in a hurry – your initial moments at GreenStones.Businesses which do not have a front reception desk can seem impersonal and unwelcoming. Not so at this building, in Commerce Road, Lynchwood.
The cutout figure of a staff member pointing the way to the front door is both gimmicky and humorous. But it is also helpful and welcoming to visitors as you are informed that you will be seen by a staff member within nine seconds (previously 10 seconds).
A small point maybe, but one that suggests this is a company that "thinks outside the box", it defies convention. GreenStones is no boring strait-laced accountancy business.
Managing director Simon Chaplin is at the hub of being individual, innovative and forward-thinking. It's an attitude that has helped the company to success – to beat the recession – having increased its client base by 14 per cent since last Christmas and in the process adding three new team members.
It has also won a number of accolades, such as being Highly Commended three times in the Workforce Development category of The Evening Telegraph Business Awards and being recognised as one of the country's "top five" in the Accountancy Age awards.
Simon is a firm believer that the "best business will always be the best business as long as they are always improving."
"By being dramatically different we are compellingly attractive," he said.
The company focuses on Simple Stuff That Works (SSTW) and uses internal measures that create that positive impression.
For example, the way that someone answers the phone, doing three-hour call-backs and reading the post twice before it is sent out.
There are also MOTs (Moments of Truth) – Simon likes his acronyms – which can be positive, negative or indifferent. One example is when they ask their customers (GreenStones doesn't have clients) for their records. The GreenStones way, to elicit a positive reaction, is to enclose a Kitkat with the written request, or, should the customer have pets, some petfood.
"It is gimmicky stuff, but when added to our constant and consistent level of service, it works," said Simon.
So much so that, with the boost in business in the last six months, the company now has 17 team members – five fully-qualified accountants, one specialist tax adviser, six trainee accountants, three business support staff (payroll/bookkeeping) plus two administrators.
Given the rocky state of the economy, people are more conscious of obtaining value for money and because of this, and after an initial free meeting, they are more likely to switch.
GreenStones caters mainly for companies with a turnover of between 100,000 and 5 million within a 15-mile radius of Peterborough.
But it is not solely along traditional accountancy lines.
Given that times are more difficult, the company has added an advanced tax planning arm to its list of services. About 18 months ago, it invested 10,000 into training the team on tax planning.One of the offshoots is to help customers understand the benefits system – Working Families Tax Credit and Children's Tax credit – if applicable.
And, as part of AVN (formerly known as Added Value Network), GreenStones has access to high-profile tax planning, for people earning more than 100,000.
Its "aggressive" tax planning has proved popular – there has been a significant response, especially since the Budget announcement that the top rate of tax will rise to 50 per cent in April 2010.
Simon can also discuss less conventional ideas, such as investment in the film industry via Enterprise and Investment Schemes (EIS), which can provide a guaranteed return after three years, and the Asset protection Trust initiative.
The majority of accountants see Business Link as rivals. Not so GreenStones, which works closely with the Government agency to gain access to Government funding and advice at better rates.
For a two-day workshop at the end of June called BusinessRich (about running a business) two-thirds of the 1,500 investment is Government-funded if you have five or more employees. For four or fewer employees, GreenStones will fund the 1,000.
Simon is not averse to giving things away for free. For example, all you need to do to get reports on How to get Your Bank to Say Yes and Accounts Made Easy is call him on 0845 466 7000.
At the heart of the standard of excellence is a structure that inspires, challenges and supports colleagues and customers.
Team members understand the company's vision and its values. They help each other, share relevant knowledge, and seek an enjoyable work/life balance. They are encouraged to be brave and to be honest.
There are also in-house targets – BOPPs, TOPPs and POPPs – referring to One-Page Plans at business, team and personal levels respectively.
Team happiness is measured weekly, via software, and there are monthly appraisals.
In addition, GreenStones is one of only six accountancy practices in the country to receive the prestigious Customer First award.
There seems to be no let-up in the company's march forward.
The vision for the future is to "quadruple in size from April 2008 to April 2013, which includes having an acquisition policy."
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