Case studies by business sector
Insurance Healthcare Business Services Groups
Others
Insurance Agent Case Study
Situation:
Al is an insurance agent with 4 years in the business. He knows he’s a great salesman (his 45% hit rate with cold calls proves it), but even though he’s a good closer, he was missing a lot of opportunities (his lousy, 5% final close rate proves that). Here’s why:
1) his follow up was practically non-existent.
2) he didn’t enter information into his system in a timely manner.
3) he didn’t process applications because other tasks got in the way.
Al was spending between 4 and 6 hours a week taking care of non-revenue generating tasks.
In other words, the administrative hassle was preventing Al from doing what he does best: sell!
Solution:
Phoenix Initiatives developed and implemented an administrative management system which took all the busywork off Al’s plate and let him focus on selling. For instance, we set up a contact management system, simplified the data entry process, automated the selling process so Al would always know who to call and when, and delegated the back-and-forth conversations with underwriters.
Result:
Phoenix Initiatives reduced Al’s time spent on administrative work to 2 hours a week. Now that Al has an additional 2 to 4 hours of selling time available each week, he is well on his way to doubling his income.
Healthcare Practitioner Case Study
Situation:
Emily is a busy massage therapist who up until now has managed her business manually. Her marketing efforts had been limited largely due to the fact that gathering the lists of names and addresses as well as specific target information was too daunting to tackle.
She had also fallen behind on writing out SOAP notes, which are essential documentation for filing insurance claims.
Emily’s biggest problem was that she’s so busy working, she didn’t have the time or energy to run her business.
Solution:
After an initial consultation with Emily, Phoenix Initiatives recommended the use of an industry specific software program which would serve most, if not all, of her administrative, marketing and accounting needs.
All of the patient records were entered into the system and the program was customized to reflect the products, services and prices offered in her practice.
Phoenix Initiatives continues to provide back office support accessing Emily’s computer remotely, updating mailing lists, pricing and specials, creating promotional coupons and marketing campaigns and assisting with client tracking.
Result:
Emily’s practice now runs in a practically paperless environment. Marketing efforts have reaped a 300% increase in response rate even though labor output has been reduced 80%. Emily is currently preparing to expand her practice.
Bussiness Services Case Study
Situation:
Lucy owns a cleaning service. The majority of her time is spent focused on marketing. Lucy’s efforts can be seen in her steadily growing business. But that growth was at the expense of the company’s bookkeeping operations and her family. Invoices weren’t getting generated in a timely manner and this affected cash flow. Because Lucy’s not comfortable with business accounting, she would avoid to bookkeeping until she had no choice but to sacrifice a couple of Saturdays a month trying to catch up.
Solution:
Phoenix Initiatives offers offsite bookkeeping services specializing in QuickBooks software. One of our certified bookkeepers was specifically assigned to Lucy’s business. Lucy’s books were quickly brought up to date and Phoenix Initiatives’s Virtuaccounting provides ongoing monthly service including payables and receivables. We send Lucy monthly reports such as P&Ls, and balance sheets. We also work closely with her CPA to ensure that the books are in compliance with tax regulations and all information is prepared for her tax return.
Result:
Cash flow is much easier to manage now that invoices are sent out regularly, and Lucy has a clear idea of how her expenses are affecting her bottom line. She is stress-free when it comes to her business accounting. Her time and energy are now available to focus on the continued growth of her business. Since taking advantage of Phoenix Initiatives’s bookkeeping services, Lucy has seen a 30% increase in her prospect conversion ratio and spends her evenings with her family.
Small Business Group Case Study
Situation:
Jerry, Tom, Paul and Sam are all small business owners who have developed a professional relationship through a networking organization to which they all belong. Although the types of businesses they own are very different, they all require the same operational and administrative tasks to be done, i.e., sending out regular newsletters, keeping up with calendars and contacts, organizing computer and paper files, sales conversion analysis and research. They also have the same challenges – too little work to justify off-loading to a part time person, too little capital to pay the expenses of a employee, and too little expertise and time to efficiently take care of the tasks themselves.
Solution:
Having its roots in small business management, Phoenix Initiatives recognizes the unique challenges of small and start-up business especially when it comes to limited capital. Our goal is assist these companies with back office operations essential for the continued growth and success of any business. We have packages specially designed for small and start-up businesses. By forming a group of 4 or more small companies and sole practitioners, businesses may be eligible for a group package that provides administrative services at a reduced rate.
Result:
Taking advantage of the group package reduced each participant’s financial investment outlay by 30-50%. Additionally, the participants have increased their available time to upward of 25% a week. This translates to between 10 and 20 hours a month that each participant can devote to revenue generating work.
Other Business Sectors
Don't see your business sector above, use this list to get a good idea of how others in your industry have used our services.
Lawyers - offissistant & virtuaccounting
Trade Professionals - offissistant, roladexterity & virtuaccounting
Sole Practitioners, Solopreneurs - All divisions
Consultants, Health practitioners, CPAs - admintegration & offissistant
Small/Home-based Businesses -
admintegration, offissistant & virtuaccounting
Independent Professionals - All divisions
Insurance agents & Realtors - All divisions