Key ways to improve profitability

By |2018-05-22T23:05:41+00:00April 17th, 2018|Accountants, Inner Circle, Pricing, Productivity, sole practitioners|

At last week's meeting of The Inner Circle for Accountants our headline discussion topic was: "Improving the profitability of your practice" I offered an early observation that “If you don’t have profitable clients, you don’t have a profitable practice”. What I mean by this is that if your clients do not generate a profit for you,

Cloud accounting – Do you lead your clients or let them lead you?

By |2017-11-22T11:38:12+00:00November 22nd, 2017|Accountants, Business messaging and branding, cloud accounting, Experience and expertise, Productivity, Servicing clients, sole practitioners, Starting out|

This is the first of what I anticipate will become a series of cloud accounting related blog posts. Back in 2009 I disagreed with those commentators who were warning accountants about an urgent need to embrace cloud accounting technology. The alternative, warned these merchants of doom, was that accountants who failed to embrace the cloud

The 3 factors that will determine your social media success

By |2015-06-30T09:59:09+00:00June 30th, 2015|Accountants, Appearance, Blogging, Business messaging and branding, facebook, Following up, Google+, Linkedin, Productivity, Reputation, Social Media, STANDING OUT, twitter|

It’s all too easy to get caught up in the game of chasing followers, likes, connections and social media klout. It may be fun to keep track of these metrics and to keep increasing them. But, in real life, they are not important by themselves. There is little point in simply pursuing these metrics. You

Resolving issues with problem clients

By |2018-06-09T19:26:01+00:00June 2nd, 2015|Accountants, Productivity, Servicing clients|

This was the main topic for discussion at last month’s meeting of The Inner Circle for Accountants. Once again Members of The Inner Circle benefited from the willingness they all had to share their experiences and insights during our round table discussion. In accordance with one of our key membership principles everyone agreed to

10 time saving tips for busy accountants

By |2014-04-29T09:16:34+00:00April 29th, 2014|Accountants, Productivity|

Hard to believe that the last time I shared any time saving tips on this blog was back in 2009.  I've taken the 3 tips I shared back then and added several more below, picking up on what accountants have told me, together with my own research and experiences: To stop wasting time deciding what

Are fees all that matters?

By |2013-11-05T08:53:02+00:00November 5th, 2013|Accountants, Productivity|

There used to be a commonly held perception that the drive and focus of a firm of accountants is solely reliant upon the fees the partners generate. As long as everybody focused on fees, all will be well. Of course there is much more to building a successful firm than this. This old perception is

How naturally good are you at what you do?

By |2018-07-12T07:29:41+00:00October 29th, 2013|Accountants, Key Business skills, Productivity, Servicing clients, STANDING OUT|

Some people assume that all of the important non-technical skills evidenced by successful accountants and partners can be developed merely by working alongside experienced colleagues or learning 'on the job' , through experience. Another common view is that some people are naturally ‘good’ at things as though their experiences, background and training were irrelevant.

Making the 80:20 rule work for you

By |2012-09-03T09:04:15+00:00September 3rd, 2012|Accountants, Productivity|

Although many people have heard of this 'rule' very few accountants consciously think about how applying the rule could help them and their clients. The 80:20 rule is also known as the 'Pareto principle', the 'law of the vital few' and the 'principle of factor sparsity'. Simply stated, the idea is that for many events,

20 tips re Linkedin for accountancy firms – vs individual accountants

By |2012-05-16T11:21:17+00:00May 16th, 2012|Accountants, Linkedin, Productivity, Social Media|

I once wrote a Handbook on using Linkedin for a larger company that has many such handbooks recording their processes and systems. It was a fascinating experience. In researching available Linkedin advice and tips I found very little that was aimed at or relevant to business owners. The same is true for accountancy firms that

The January tax return rush is your own fault

By |2011-12-22T10:45:15+00:00December 22nd, 2011|Accountants, Pricing, Productivity|

Chatting with an accountant recently he told me he was amazed why so many clients leave their tax returns to the last minute.  He told me he chases clients throughout the year. He sends reminders and prompts. He has recently asked around his business networks to clarify why small business owners and investors do this.

What impact does new software have on staff costs?

By |2010-06-04T09:39:59+00:00June 4th, 2010|Accountants, Productivity|

The increased use of accounting and tax software has had an unexpected impact on at least one accountancy firm. And I suspect there are others in the same position. The firm had assumed that they would reduce staff costs through increased use of junior staff.  The partners anticipated that using more sophisticated tax software would