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PKF Texas: The Entrepreneur’s Playbook® - Byron Hebert

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If you’re not dissatisfied, you’re not paying attention! Byron Hebert, director of Entrepreneurial Advisory Services at PKF Texas, offers another Tool Time Update.

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Byron: Hi. My name's Byron Hebert and this is a quick Tool Time Update brought to you by the Entrepreneur's Playbook and our friends at PKF Texas. What I want to talk to you today is about DVP formula, dissatisfaction times vision times plan. When I'm working with a company this gives me the probability for change in that organization based on this formula. Let me explain it to you. The dissatisfaction is the why. Why would a company change? If you're not dissatisfied you're certainly not going to go through the pain and suffering of change. Vision is the where. Where do you see the company three to five years from now and so you can get a clear vision of where it is. The clearer that vision is the more propensity for change and the plan is the how. This is how you're going to get that done, how the company's going to change.

So let me show you how the formula works. Let's just assume that you're not that dissatisfied with where the company is right now so a five out of ten. If you're not that dissatisfied with where the company is now you probably don't have a clear vision of where the company's going to be so let's just say that's a two out of ten. If you're not that dissatisfied, there's not a clear vision then you probably don't have a vision so we'll give that a one out of ten. So if we multiply that across 5 times 2 is 10 times 1 is 10 over 10 times 10 times 10 is 1000. You've got about a one percent chance of change there, all right, in this organization so what we want to do is get the dissatisfaction up, get a very clear vision of where the company's going to be and a plan on how to do that. If we can get this to say an eight out of ten on the dissatisfaction, maybe an eight out of ten on the vision and let's just say we have a ten out of ten idea of where we're going to be on the plan, we get a very clear plan.

That's 640 over 1000 so that gives you a 64 percent chance of change in your organization. All right. Thank you very much. This is Byron Hebert. This is a quick Tool Time Update brought to you by the Entrepreneur's Playbook and your friends at PKF Texas.

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