Case Study: KRS Smartbooks

1. Introduction

Client Kandace Sequeira, Founder and CEO of KRS Smartbooks a virtual property management bookkeeping firm who has a team of three people has been in business since 2019. The goal was to remove Kandace from the day to day operations, improve marketing strategies, use tech and automation to streamline day to day, and position the company to increase bandwidth on client intake.

2. Challenge

KRS Smartbooks faced the challenges pertaining to the CEO being the bottleneck of the business, conducting manual tasks, developing handbooks, SOPs, and Quality Control. In addition to preparing for exponential growth and onboarding new employees. 

3. A.R.I.A Framework

Audit

• Objective: Conduct a comprehensive review of existing systems, processes, SOPs, and data.
• Process: We performed a detailed audit to understand the current state of the client’s operations. This involved asking in-depth questions and gathering insights to personalize the strategy.
• Findings:
  • We determined that Honeybook (CRM) can be optimized to streamline the intake process by setting an automation sequence and optimizing the questionnaire form to be proactive. 
  • We further determined the team onboarding and management process can be improved by optimizing Rippling (HR Software) by utilizing the workflow studio to create an automation with each new hire to undergo a self-orientation process before their first day. 
  • While analyzing the marketing process we were able to find that we needed a marketing management process in place to better track marketing efforts. 

Reverse Engineer

• Objective: Develop a data-driven and systematic approach to address the identified issues.
• Process: We reverse-engineered the audit results to strategize improvements. This included organizing business infrastructure and data to align with optimization goals.
• Strategy:
  • We dived deep into looking into Honeybook to make sure the automation workflow included the whole lifecycle of a client relationship with the business. This included looking at questionnaires and service processes to identify sequence rearrangement of events as well as the pricing strategy to develop an efficient workflow that allows for high productivity and profitability. 
  • We determined the ideal organizational chart structure based on workload distribution between the team and task types within each service for a more efficient leadership management style. 

Implement

• Objective: Execute the strategy with a focus on project planning, SOP creation, training, and resource allocation.
• Process: Describe the implementation phase, including the creation of SOPs, project management efforts, and any training provided to the client’s team.
• Outcomes:
  • We developed and implemented an automation workflow from the initial sales call to obtaining a testimonial from all clients on Honeybook(CRM).
  • We implemented and set up Clickup (Project Management Tool) to organize and automate client management tasks and team onboarding processes. In addition, to create a visual workflow for the team and client management process to serve as a resource of a big picture overview of workflow. As well as a data dashboard to track productivity levels and implemented a time tracking system which will aid in the refinement of team development, organizational chart, and pay structure.
  • We utilize Zapier (Automation Tool) to automate and share data between the CRM, PM, and Quiz Assessment form for both client and team member information. The CRM automation pushed client information to be auto populated in Clickup with a new client template of all onboarding task a team member is to manage. The PM automation has notification for new team member setup once they have signed an offer letter. The Communication Tool (Slack) has an automation set up to notify all team members of changes made in Clickup for their knowledge so that they are on track with all deadlines. We have set up other automation pertaining to client file management between Google Workspace and Honeybook. 
  • We utilize our marketing management strategy form to develop a marketing management and strategy system aligned with the CEO and overall company objectives towards marketing efforts. This marketing strategy includes the implementation of the marketing development process for the following social media platforms (LinkedIn, Instagram, and Facebook); marketing formats consist of static post and business articles. We set up Metricool (Social Media Management Tool) aimed to streamline the management of content and data all on one platform. The data portion will be used to track all the analytics for all content types posted on Instagram, LinkedIn, and Facebook to determine room for improvement based on marketing performance. 
  • We created workflow automation in Rippling (HR tool) to send a welcome email to new employees with an employee handbook and onboarding tutorial to set them up for success. 
  • We created a Business Overview, Employee Handbook, and Standard Operating Procedures that will be used to communicate the overall business goal and visions to all new stakeholders and serve as a resource for business clarity. 
  • We developed a data dashboard in Databox to track the financials to compare efforts against other important KPIs and Metrics that will enhance the decision making process towards improvement. KPIs and Metrics include those in team performance, sales, financials, and marketing. 

Analyze

• Objective: Evaluate the effectiveness of the implemented solutions and provide ongoing support.
• Process: We began the analysis phase by monitoring and analyzing the data to make informed decisions. This included transitioning to ongoing management support to ensure continuous improvement.
• Results:
  • The system, processes, and workflows that have been implemented is proven to increase efficiency across the organization. 
  • Based on historical figures at the beginning stages of running a bookkeeping firm for property managers, a CEO managing a small team of three part-time employees would likely work a significant number of hours each week, especially considering the varied responsibilities mentioned. Here’s an estimate of the time breakdown:

1. Financial Analysis: 10-15 hours

• Reviewing client financials, preparing reports, and conducting financial analysis would take a large chunk of time, especially since it’s a core part of the bookkeeping service.

2. Payroll: 2-4 hours

• Setting up and processing payroll for clients and potentially for the internal team.

3. Sales Calls & Sales Follow-Up: 8-12 hours

• In the early stages, gaining new clients is critical, so substantial time will likely be spent on sales calls and follow-up activities.

4. Client Meetings: 5-8 hours

• Meeting with existing or potential clients to discuss services, deliverables, or troubleshooting issues. This will be frequent as you’re building rapport.

5. Team Meetings: 3-5 hours

• Regular check-ins with the team to ensure they are aligned and managing tasks effectively, even if they are part-time.

6. System Setups & Management: 8-10 hours

• Setting up new clients, integrating software (QuickBooks, Xero, etc.), and troubleshooting system issues takes time, particularly in the first year.

7. Day-to-Day Operations: 15-20 hours

• Handling client inquiries, overseeing task completion, tracking KPIs, managing workflows, and resolving daily operational challenges.

Total Estimated Hours: 51-74 hours per week

• In the first year, especially during the startup phase, it’s common for solopreneurs to put in 60+ hours a week, managing both client-facing work and internal operations.
  • With new systems in place we’re projecting to increase overall efficiency from 64% to 133% . This is dependent on variance between historical data researched and applied systems resulting in an average weekly hour of 30 hours for CEO. With continued effort on reviewing data and systems aimed to improve, we seek to reduce hours and efficiency spread workload between team members to streamline day to day operations to welcome growth. 

4. Results

The above changes to KRS Smartbooks operational infrastructure has achieved and implemented:

• Enhanced operational efficiency
• Cost savings or budget improvements
• Improved team performance and management
• Successful implementation of new systems or processes
• Increase client satisfaction
• Provide quality insurance due to time put back to serving the team and clients

5. Conclusion

The Ops Flow is excited to have implemented systematic approaches including automation, enhanced sequences, and relationship management for KRS Smartbooks. We look forward to growing our relationship with KRS Smartbooks by managing their data, systems, SOPs, and providing research services that will focus more on high-level business strategy. 

6. Interested In Similar Services?

If you are in need of operational efficiency backed by systems and data that drive team and client success – Book A Call Today to learn more how we can help! 

Mari Torres at The Ops Flow