Last month I had the pleasure of attending a high performing firm conference in Boston. Of the 30 global firms in attendance, 6 were Australian.
What does this mean?
Australian accounting firms are dominant players in the value pricing and consulting arena. The firms in attendance demonstrated they are delivering high value services and are accomplished leaders of service delivery. The level of innovation demonstrated, team engagement and delivery methodologies for value and price, were outstanding.
In general, the highest performing Australian firms are:
- innovative – taking proven business methodologies and innovating on them.
- focused on building engaged teams – they are great a getting their teams on board and engaged in their growth activities,
- delivering value with great pricing strategies – they are having better conversations with their clients.
What does this mean for you? With automation and outsourcing creating a disruption in the market, now is the time to do something about designing a more comprehensive value add service. The way I see it, you’re already doing the work now, it’s just not defined or systemised most effectively. With cloud accounting and add on apps, consulting work is now more important to business clients and we are seeing that they are starting to ask for it.
Three Crucial components for Australian Accounting Firms to get right
- Now more than ever, leadership is crucial to success. Creating a future that increases the firm’s value and improved profitability – ie. my Chairman’s program.
- Having a structured process for transitioning to value pricing and value add service delivery is more accessible to Australian firms than ever. This is in part because the trail blazers have ironed out many of the bugs. This includes creating a repeatable process to free up partners and your best people.
- Value pricing is all about your ability to have better conversations, in order to do that one must be 100% clear on what you offer and the outcomes the service provides.
How my Chairman’s program can make you a world leader…
- Leadership is firstly about clarity of vision.
- Innovation is about getting ideas from outside in order to expand your own perspective.
- Implementation and accountability comes down to the structure employed to make things happen.
- Often during implementation support is need to keep things moving as challenges arise or markets undergo change.
View my Chairman’s Program here.