New Level Results Ltd Case Study

Simon Teague Talks About Growing His Business With RIFT

New Level Results Ltd is a high-powered business coaching service with an incredible track record of changing the fortunes and futures of its clients for the better. As an entrepreneur himself, Simon Teague understands exactly what it takes to turn ideas into success stories and has transformed clients ranging from individuals to full corporations. He's a proud Resident of the RIFT, and this is his story...

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With 26 years of experience in the financial services industry, Simon had risen to the level of regional director for Natwest, with a staff of over four hundred under his care. Using what he'd learned and passing it on allowed him to accomplish the near-Herculean feat of taking the seven lowest-performing teams in the country and turning them into the best! That experience was the eye-opener Simon needed, and he realised that he had to start his own leadership and coaching business.

Those first four years were stormy, dangerous times. While Simon's financial knowledge was an immense resource, little of it was specialised in the small business world he was entering. He took on an accountant through a recommendation, hoping to ease his burden enough to focus on building his business, and that was where his troubles began.

Round Hole, Square Accountant

Simon's new accountant wasn't a specialist in the challenges and obstacles facing small businesses starting out. The advice Simon was receiving, while sound enough in principle, was totally at odds with the realities of the small business jungle. He ended up with a business structure that was far too complex and clumsy and a lot of unnecessary fees. So much so, in fact, that they were eating into the business and totally wiping out the efficiency they were supposed to provide! Simon got no help wrestling with invoicing, bills or cash flow, and the expense if it all was chewing his profit down to the bone and beyond.

It Gets Worse

With the demands of getting a business off the ground, the frustration and stress led to Simon putting off his accounts wherever possible. Meanwhile, the accountant's hourly fees racked up so dangerously that he found himself doing the work himself - but still having to pay the accountant to check it afterward! Phone calls and invitations from the accountant to meet for a chat turned out to come with disguised hourly price tags attached. This lack of clarity flew so powerfully against the way Simon treated his own clients that there needed to be a change.

Enter the RIFT

Simon had met the RIFT Group's Jan Post back before its RIFT Accounting branch even existed, and had been impressed by the way she thought about her business and clients. He had referred people to the R&D and Capital Allowances sides of the business, so when he learned that RIFT Accounting was being formed he told Jan to count him in as one of its first clients.

Simon realised that his business needed to be looked at again from the ground up, under the eye of a specialist in small business success. There couldn't be any surprise fees clogging up the works and the days of feeling that his accountant didn't have his best interests at heart needed to be over. With those points firmly in mind, transferring into the RIFT was an easy decision. With a single, fixed fee and detailed, tailored advice, if was an opportunity he literally couldn't afford to pass up.

The Story Since Then

Simon believes that some traditional accountants actually can prevent small businesses from exploring their potential. Too often it seems like you can't afford to get the advice you need, when in reality you can't afford not to. Hourly rates drive businesses away, simply because it's hard to plan for the future with a dangerously expensive clock ticking loudly in the background. With RIFT Accounting on his team, the advice Simon needs comes without ransom demands, and is backed by a level of expertise he knows he can rely on. He feels confident picking up the phone or visiting the RIFT office whenever he needs help or information, knowing that there's a watchful eye on his business at all times as it continues to grow.

Clear Books has made a huge difference to his invoicing and cash flow management, and the unexpectedly high VAT bills that used to haunt him no longer threaten his planning. As his company grows, Simon knows that his business had been structured for success and is in a great position to build from as the economic climate improves.

The Way Forward...

Simon Teague, Founder, New Level ResultsSimon looks back in horror now at the money spent on an accountant who didn’t really help him. Business owners, he says, need to make much better decisions by asking much better questions. There's a world of specialised knowledge out there to learn from, but if you're spending all your time dodging accountancy fees and crunching the numbers yourself, you'll never be able to lift your head up and see it. As for working with RIFT, Simon says it best himself:

"It’s lovely. I feel confident that I have what I need and I can clearly see and understand what is happening with just a light hand on the tiller."

About New Level Results

New Level Results supports business leaders, senior executives, business owners, senior teams and individuals achieve their full potential. Their ‘Best Year Yet’ programme helps plan, map and track every step of your goal development. New Level Results has a successful track record of over 30 years and have helped over 1 million individuals achieve their success plans. Their Team programmes are used by 850 organisations - be they major Corporates, SMEs or individuals.

Simon is passionate about helping business owners and executives create ambition plans for their business and personal life. He believes that with the assistance of a great coach anything is possible.

Website: New Level Results

Twitter: @newlevelresults

 

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