10000s of regional firms are going nowhere, not moving forward, or slowly going backward. Depending on which perspective one wants to view it from. Regardless of your viewpoint, a more significant fact is they know it and yet continue to operate as normal! Backwards? In the last 3 years, business coaches, consultants, and other advisory […]
Have accountants forgotten they are in business or do they think they are a community provider? Community providers have an obligation to provide services to all customers within their marketplace, it’s why there are usually not for profit by nature. What’s interesting is most regional accounting firms believe they must do the same! Be all […]
Firms leading the market in growth, understand that their business model has a lifespan, in fact, these firms attribute the success to changing their business model in the last 3 years. Managing partners whose firms achieve consistent growth understand there are many components that lead to growth in revenue and new clients, whilst most partners […]
In TA109 I discussed The REAL problem with Compliance Services. Today TA110 takes that discussion further with The REAL problem with Value Add Services. I’ll briefly cover some common, industry accepted problems before taking on what I think is the REAL problem that underlies and defines VAS implementation across Australia. It’s one that isn’t widely spoken about, and certainly doesn’t appear in current marketing messages or industry news.
Australian accounting businesses are exceptionally busy, most of the time. Despite ongoing warnings that compliance is dying, I think we are missing the anecdotal evidence suggesting it will disappear completely. The answer remains a focus on sustainable profitability.
Business Advisory work can be a hard sell to begin with, so the right strategy will make all the difference to your efforts and your results. This week I share two strategies that I used to prepare clients, my team and myself for selling and delivering VAS, including the outline for each offering, exactly why the strategy worked and how it affected the client and our firm.
Many Accountants have lost ground in the business advisory market, but I believe that we still hold an advantageous position in being able to provide this service to our clients, and profit from doing so.
A simple three phase process can help you implement value add services effectively while picking up additional client opportunities, engaging your key team members and increasing profitability. Plus, don’t miss the free Diagnostic Tool that will drive your success…
‘Busy season’ is even more hectic than usual and can leave firm Partners feeling depleted just trying to keep up with compliance deadlines. This doesn’t mean that your business advisory implementation should grind to a halt though. Partners who can continue to drive growth during busy season will be able to get further ahead than those who do not.
Until you master VAS implementation, your firm will be unable to delegate consistently, deliver value efficiently and improve profitability. This case study shows how we transformed one accounting business to achieve this, within 18 months, and while avoiding a multitude of growing pains.
Until Partners are able to consistently and effectively delegate value add work, their firms will struggle to become experts at business advisory and add true value to their clients. This week I talk about systemising delegation for accountants, the importance of investing time on your own expertise and how to make business advisory implementation easier.