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Frequently Asked Questions

Getting the most out of Mindshop

  1. How much time should I allocate to do the learning as a Mindshop advisor?
    The time to allocate depends on the speed of results you are seeking and size of the goals set for high performance.
    Allocating 8-12 hours a month minimum for a Mindshop advisor to move through the courses, work with their coach and attend training days would be a good guide.

  2. What tips would you give for somebody to get the most from being a Mindshop advisor? Use on your own firm first to build confidence and real war stories. Then use on friendly clients. Ensure you book in to all the training days when the annual schedule is released.

    • Push yourself outside your comfort zone and say ‘yes’ to new opportunities to use the tools. As confidence grows ensure you have clarity to your model and pricing.
    • Practice, practice, practice using the tools in client meetings to build fluency.
    • Allocate time each week or at a minimum each month to work through the courses, participate in the discussion forum, interact with your coach and look at tools needed for client meetings.
    • Have a clear and realistic goal in mind. Success as a business advisor takes years of practice and capability building.
  3. How quickly do advisors get results?
    Within the first 2-3 months most advisors have won new client work or started using the tools internally on their own strategies and plans. It all depends on the goals and focus of each advisor and pace at which they seek to apply the learning.
    Mindshop is not a magic bullet so lasting results do take time after months of practice, learning and adaption of approaches in the market.

  4. How do I get my team to understand the basics of business advisory?
    One way is using our start tier of access to Mindshop Online which provides access to the complimentary advisory fundamentals course. This tier is free to any team member. Containing a series of modules, team members can discover the basics of listening, questioning skills, problem solving and simple strategy.
    Another way is to run lunch and learn sessions (or other training sessions) around the core Mindshop methodologies and tools with the team.

  5. Can I use the insights I learn from Mindshop on our firm itself?
    Absolutely. It is the most effective way to build confidence plus capability in the tools and where quick wins occur.

What is Business Advisory?

  1. What do you mean by ‘Business Advisory’?
    The word ‘advisory’ is often overused and can mean different things to different people. Advisory can mean financial advice, corporate finance, personal, wealth, compliance and many other varieties. When we say ‘Business Advisory’ we relate that broadly to developing and implementing strategy, problem solving, change management and helping clients with growth and profit.

Coaching Support

  1. Do we get to pick our support coach?
    We don’t allow advisors to ‘pick’ their coach as each coach is active in the field so only has a limited amount of time dedicated to support Mindshop advisors but we’re happy to have a discussion and will see if we can accommodate your coaching preference.

  2. How often can I speak to my support coach? What does 24/7 mean?
    We recognise that issues, questions or client opportunities each advisor needs help with don’t appear in a clean ‘monthly’ rhythm and can be a few during a week and then nothing for a few months. Therefore the ability to submit an action post or question confidentially via Mindshop Online to your coach is available 24/7. Depending on the schedule of each coach, they may be back to you within minutes or in the next 24 – 48 hours if a more detailed response is required. Our preference is for all correspondence to be captured in Mindshop Online for the benefit of advisors and the coach.

    During the induction phase and if required every couple of months a call would be held with your support coach to check the progress of your goals, plans and actions as well as answer any questions you have about implementing Mindshop. At a minimum, each coach will be seeking to touch base (even if just via an action post) each 90 days if they have not heard from you.

    The coaching provided by Mindshop is intended to be ‘passive’ in nature and led by each advisor to their experienced coach as they hit hurdles or opportunities during their high performance journey
    The Mindshop head office team also provides customer success support to help drive your journey alongside the coach.

Online and face to face training

  1. What topics are covered by Mindshop’s Online Training? What is the format?
    Mindshop courses are categorised into three areas:

    A. Foundation

    Advisory Fundamentals, Problem Solving Skills, Strategic Planning, Winning new business as an advisor

    B. Advanced
    Change Success, Coaching / Developing People, Facilitation Skills, Growth Strategy, Leadership Development, Personal Growth, Personal Resilience, Pivot/Adapt, Profit Improvement, Project Team Implementation, Time Management

    C. Specialist
    Business Intuition, Developing strategy in volatile times, Entrepreneurship, Lean Management, Mindshop Online High Performance Coaching, Sales Performance, Self Confidence

    Each course is modular and follows a sequence as to how it would be delivered with a client. Each module is focused around a tool or concept and has a video explaining the tool, step-by-step guide and a worksheet to complete. Some courses also have a multi-choice exam at the end. All worksheets need to be completed to successfully complete each course.

  2. How long does it take to complete each online training course?
    Each course takes between 6 to 12 hours to complete depending on the number of modules.

  3. What is covered during Mindshop’s face-to-face regional training days?
    Topics for each training day vary and are determined by a global training needs analysis completed at the start of each calendar year. These topics can be on areas such as: facilitation skills, new advisory service lines, best practice from peers, sales approaches, new tools, leadership, agility, growth, profit and more.

    Each training day is led by an experienced Mindshop advisor who facilitates a practical workshop rather than a lecture to provide opportunities for advisors to learn new skills, work on their firm and network with peers.

Working with Mindshop

  1. Do you support very large firms with multiple offices?
    Yes. We would tailor a support program using our Enterprise package with multiple internal champions as Mindshop advisors who leverage the resources with the wider advisory team. Often we work with the learning and development team internally to gain alignment to their goals.

  2. What happens after we complete our application form to join the Mindshop Program?

    The team will confirm receipt of the application form. Your induction process will start at the allocated start date where:

    • An email outlining the induction process will be received by each Mindshop advisor
    • A joining pack will be sent
    • Access is provided to Mindshop Online
    • Induction calls are booked with the head office team and your support coach
    • Invitations to upcoming advisory events will be sent
  3. Can we brand the Mindshop material as our own?
    We want all advisors to have their own brand on what they take to market and we ask when using Mindshop material they include the small ‘powered by Mindshop’ logo to recognise its origin.

  4. Can I train other business advisors with Mindshop’s material?
    Our terms and conditions provide clarity on this, we do not allow our material to be taken and used with our target markets in what could be seen in the market as a competitive offering to Mindshop.

  5. Can multiple people log on with my Mindshop advisor password?
    No. This is not allowed in our membership terms and conditions.

  6. Do you offer any financial diagnostic products?
    No. We prefer to focus on our strengths and always happy to recommend any of the myriad of great financial diagnostic or dashboard software available in the market.

  7. Why do people leave Mindshop? What is your churn rate of members each year?
    Most leave Mindshop due to retirement, not doing ‘advisory’ any longer, selling their firm, going back into the corporate market or perceiving the value is not there to continue. We have a healthy churn rate of under 10% a year but continue to grow each year.

  8. How long do Mindshop advisors typically stay on board?
    Our average tenure is 7.5 years for a Mindshop advisor and over 30% of the network have been with us for 10 years or more with some over 25 years.  We have a focus on shaping our support offering to attract and retain the best of the best advisors.

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