Value Creators

Episode #33 Mike DeKock on Building Competitive Advantage

March 13, 2024 Hunter Hastings Episode 33
Value Creators
Episode #33 Mike DeKock on Building Competitive Advantage
Show Notes

How do the value creation principles of subjective value, entrepreneurship and creativity apply in a highly technical rules-based environment like SOC Compliance audits. These are objective validations of data security measures based on customer-defined criteria similar to traditional financial audits but more specific and subjective.

The answer lies in the understanding of customer needs. Mike DeKock, CEO of MJD Advisors, an SOC auditing firm, has the insight: the customer seeks confidence - a feeling that they can approach their own clients with the assurance of providing the data security that they demand. Trust, reliability and commitment are the underlying values - emerging from technological rigor, at a much higher level of human need.

Mike discusses the evolution of compliance services and the changing landscape within the industry, and explains the importance of continuous compliance and how his company aims to provide ongoing support and guidance to clients throughout the year, for continuing reinforcement of the client’s feeling of confidence.

He recognizes the value of building relationships with clients, helping them navigate compliance challenges, and fostering organizational improvement. He sees value in creativity, curiosity and collaboration, and the need for continuous learning and adaptability in a rapidly changing industry. At MJD Advisors, there is a passion for helping clients find simple solutions to complex problems, emphasizing the satisfaction derived from making a meaningful difference in their businesses.

Resources: 

MJD Advisors: mjd.cpa
Mike DeKock on LinkedIn: https://www.linkedin.com/in/mike-dekock-7325a654/

Shownotes:

0:00 | Intro
02:13 | SOC Compliance: Mike Shares His Business Field Growth Journey
03:21 | Regulatory Audit Requirement is Optional
05:09 | Client’s Confidence is Subjective Essence
07:51 | Value Proposition
10:08 | Confidence Area: Empathy-Driven Insight into Client Needs
12:09 | Confidence Meter: How to Measure it? 
13:49 | Trust Measurement
15:16 | Data Security
18:05 | Business Model: Client-Centric Excellence 
20:01 | Trust and Confidence: Some Companies View Audits as Mere Costs
22:08 | MJD Advisors: Exceeding Client’s Expectations 
23:07 | Hiring: Interesting People VS Hard Stats
25:27 | Helping Clients Find Simple Solutions to Complex Problems
27:32 | Future Unpredictability Adds Complexity
29:20 | Entrepreneurial Ethic
30:40 | Wrap-Up