Have you checked your KDIs?

One of the reasons I do what I do is to help accountants win more clients. And one of the ways you can do this is to identify what makes you different to the competition. Yes, the raw service you provide may be the same but this is only part of the story.

Every accountant I have met is different. An individual. We all have different experiences, backgrounds and attitudes. These combine to ensure that clients will get a different service dependent on which accountant they appoint. If this was not the case, clients would never move from one accountant to another other than due to fee issues.  And yet clients do move for other reasons.

During many of my talks and when I’m working with savvy sole practitioners I make the point that most clients want more than just an annual set of accounts and tax return. They also want advice on how to keep their tax bills down, how much tax to pay and to know when it be due. Clients in business often also want business focused advice. Not everyone will pay for this. But that’s a separate issue.

The fact is that every accountant will deliver their advice differently. We all have our own opinions borne of our past experiences. And there are many different ways of providing (and billing) for advice.

This all brings me back to the main point for this blog post. KDI stands for Key Difference Indicators. We’re all familiar with the idea of KPIs – Key Performance Indicators. My aim by referencing KDIs is to encourage accountants to think about what makes them Different to other accountants and then to focus on their KDIs. And, let me stress, I intend KDIs to be identified for individual accountants, not for accountancy firms.  There is quite enough nonsense talked about USPs – as I have highlighted on this blog previously. For example: Stop talking about your USP – it’s the same as other accountants.

By choosing a different set of initials I hope to highlight the benefits of focusing on what makes you (personally) different to other accountants. Yes, this is a variation on my recurring theme of STANDING OUT from your competitors and peers. Normally when I reference this point it is in the context of being better remembered, referred and recommended.

You can use your KDIs however to boost your self confidence when advising clients. And when setting your fee rates. There is no single going rate for most of the work you do. Your approach and your fees are a function of your KDIs.  Have you checked yours?

 

by

Does your website stand out in the wrong ways?

I heard Graham Jones speak at a business event recently. Graham is an internet psychologist and frequently shares unexpected but valid insights about how how people use the web.

On this occasion he was talking about websites and he explained, with good examples, why it can be a mistake if your website stands out too much. There are lesson here for accountants of course.

Graham has since shared a summary of key elements from his talk in his email newsletter. I quote from this below.

Graham explains that:

“People have pre-set ideas as to what they expect to see when they land on a site. Neurological studies show that if people don’t see what they are expecting in less than one second, these visitors disappear, bouncing out of the site, looking for something else”.

He gave an example of a bride looking for a wedding venue:

“If she lands on a hotel website and the images are all of business people in suits, she instantly thinks “this is not the hotel for me”, even if the venue does offer weddings. The bride expects to see images of people like herself, instantly. If she doesn’t see them in half a second, she perceives that the site is not for her, even before she has started to explore it.”

Another example he gave was of a garden centre website that was told it needed to look different to all the others so that it “stood out”:

“Their web designers told them that almost every garden centre website used green as its principle colour. So to stand out from the crowd, the developers suggested pink. The garden centre site was transformed, but sales plummeted. Why? Because the bounce rate rocketed, as people do not associate pink with gardening. People expect a website that is focused on gardening to have a lot of green in it. When they don’t see that, they think “this is not the right site”, and they bounce out, looking for an alternative that matches their expectation.

The problem with not providing what people expect leads to a phenomenon known as “cognitive dissonance”. Essentially this is your brain going “this does not compute”. In other words, there is a mental clash between what we see and what we had expected to see and our brain gets stuck in a rut trying to sort it all out. And when a website visitor’s brain gets stuck in that rut the easiest solution is for them to leave the site, thereby eliminating the problem for them.”

Graham was clear that it can be a mistake to adopt a “wacky” approach to your website design. With so much material available online it’s easy to want to “stand out” and be different. That is often what businesses (and accountants) are told by web designers too. They say that the accountancy firm, for example, shouldn’t have a “me too” website, looking like all the others in the same category.

Graham explains:

“That is old-fashioned thinking, though. When you had time to explain to people why your company brochure was printed sideways, or why your corporate colours were pink and orange instead of green, then they understood and remembered you for being different. But nowadays you don’t have time for people to understand the differences. Instead, they need to know, in an instant, that they have landed on the right kind of website.

If you are a taxi firm and your site doesn’t look like a taxi company’s website, you will have driven away your visitors. Similarly, if you run a local stables and your website doesn’t seem to be about horses, off trot your visitors to another site. In other words, the most important thing to do these days is to be the same, not be different.”

The main focus of many of my talks is on the easy ways in which you can choose to stand out from your competitors and the pack. I reference ‘appearance’ as being one of the 7 key ways you can stand out. This isn’t just about how you appear face to face, but also online. Appearing different to other accountants online doesn’t mean that your website design needs to look very different from other accountants’ websites. It’s the content that could well be different – indeed it probably should be different to the standard boring content on so many accountants’ websites. Your content can indeed help you to stand out.

As an accountant you will want your website to appeal both to those strangers who are searching online for an accountant – and who are the sort of people you would like to have a clients. You will also want your website to appeal to those people who have been specifically referred to you or who have met you and now want to check you out.

As Graham says:

“Make the difference in what you DO, not what [your website looks like]. Your visitors will have cognitive dissonance and get confused if you don’t look like all the other websites in your sector. Be the same as everyone else and your visitors will stay on your site.”

Make your website standout through the way you reference your genuine focus on clients, how they benefit from your approach, any special services you offer, your expertise and any niche areas in which you operate. If you are a sole practitioner your website will also stand out (positively) if it reveals who you are and lets visitors get to know you a little. A standard ‘about us’ page that only talks about ‘the firm’ just doesn’t cut it in my view.

by

Could you adapt this unique way of standing out from the crowd?

I still remember meeting Christopher Higenbottam at a networking event some years ago. I asked what he did and he told me he is an architect. (Indeed it transpired that he was the MD of Tempietto Architects). We talked for a while about his work.  After a few minutes I think I asked him whether there was anything specific that distinguished his practice from that of other architects I might know.  I’ve long asked variations of this question when first meeting fellow professionals.  And it’s an important one to be able to answer convincingly.

Most professionals, in my experience, fall back onto the hackneyed stand bys. They often talk about offering a ‘personal service’ (sometimes they even seem to believe that this is special, just like ALL of the other accountants, lawyers, surveyors who say the same thing).  Other common  replies, that also fail to make you memorable or distinctive, focus on other intangible service elements.

If I ask you this question it’s because I want to know what to listen out for when talking to people who might need your services. If I’m not a potential consumer of the  services myself I want to know why I should remember and recommend you rather than any of the other accountants, lawyers, surveyors I have met.  Knowing that a solicitor, for example, specialises in employment law is not enough.  I know dozens of employment lawyers.

Equally, when you meet people at networking events you need to appreciate that they have probably met loads of other people who do what you do. I have addressed this need to STAND OUT and to be memorable many times on this blog.

So what did Christopher Higenbottam tell me that made him stand out? He focused on one element of his services – homes for individuals. I recall he talked about some special homes that he had designed.  Then he did something no one has ever done with me at a networking event before or since. He pulled out his smartphone and showed me a short slide show containing 6 photos of beautiful homes he has designed. And guess what? I REMEMBER him.

This idea is not easily replicable by many other professionals. Few of us produce anything tangible and worth photographing. There’s little point in an accountant showing a few photos of a well bound and balanced set of accounts!  I had a few alternative thoughts when I first shared this story. None of them serious.  Perhaps you can do better?  Do please add your thoughts as comments on this post.

by

Use your ‘inner magic’ to stand out from others who do what you do

Are you ‘just another’ accountant, lawyer, surveyor, speaker, trainer or whatever? Really? But you’re you. No one else can be you. The real you.

Richard Jones on BGT

Richard Jones on BGT

The winner of the 2016 TV series of Britian’s Got Talent (BGT) was Richard Jones. A magician. And a soldier.

When interviewed* Richard explains that from the outset he was determined to be who he really is. He is a soldier who does magic. He does both. That’s his story. He says he was always going to involve his personal spin on what he did because that’s who he is. And that’s what he’s always done.

“A lot of magicians do the same kind of things, the same kinds of tricks. But something that people really connect to, when you’re performing magic, is if you come across in a more personal way. If you’re a lawyer and you’re doing magic, tell them you’re a lawyer and doing magic. I think that makes you more approachable. I feel it makes you more interesting because you’re not this guy who does crazy stuff, you are a real person, more on the level of anyone who’s watching”

When I speak about how professionals can STAND OUT from their peers and competitors I make a similar point.  Be you and reveal a little more of who you really are if you want to be seen (and remembered) as more than ‘just another’ person doing what you do.  This is especially easy if you have an unusual hobby or interest. But that’s not a requisite.

When I moved into professional speaking I looked back over my own career. It was clear that I had long stood out from many of my peers and that this was a key reason why I had been promoted, headhunted twice and invited to join and Chair various professional committees.

Of course my experience and expertise within the accounting profession were also important. But what made me stand out from others? I can invariably trace this back to my willingness to stand up and speak in public, to present effectively and to engage with audiences. And these skills are a direct consequence of my interest in magic and the fact that I have used magic to entertain audiences since my early teens.

As an accountant and tax adviser I rarely felt it was appropriate to include magic tricks in my talks and presentations. As a professional speaker now it would be madness to avoid any reference to magic in my talks. And when I do this it helps me to connect with audiences who generally recognise they are seeing the real and authentic BookMarkLee.

I’m a speaker and a magician who originally trained as an accountant. That’s who I am. Sharing it, however briefly, during my talks helps me to STAND OUT in a positive way.   Using magic tricks to emphasise key points adds to the entertainment quality of my talks. It also help make them more memorable and me more referable. This all helps others to think of me as more than ‘just another’ speaker.

Just to be clear, none of this is enough. Audiences and bookers need to gain plenty of value from my talks. Standing Out alone doesn’t lead to repeat bookings and recommendations. Fortunately, I have plenty of these too 😉

It’s the same in any profession. You need to be good at what you do to if you want to win more business and more work. But revealing, and maybe even embracing, who you really are can make all the difference. Richard Jones wasn’t just another magician competing on BGT. He was a soldier who was also a magician. And the first magician to win this annual competition. Even if you don’t have an unusual interest or hobby there will invariably be some distinct facet of your life experiences or background. Don’t hide who you really are.

What’s your ‘inner magic’? Who are you – beyond your professional role and your business activity? How could you use your ‘inner magic’ to stand out from others who do what you do?

*(The interview in question was published in the November 2016 issue of  The Magic Circular – the magazine for members of The Magic Circle, of which I am proud to be the Treasurer).
by

Does your business card contain any of these 11 mistakes?

I routinely encourage audience members to give me their business cards at the end of conference talks. They do so if they would like me to send them copies of slides and other materials I reference during my presentation.

As many of my audiences are accountants this affords me the opportunity to compare and contrast hundreds of their business cards. So much so that I now add the following comment when I invite them to pass me their cards:

If you give me your cards I will send you a copy of the slides etc as long as I can read your email address. I’m astonished at how small or pale this is on some business cards. What is the point in having a key piece of contact information that is hard to read?

If you don’t have a card with you, just jot down your name and email address on a piece of paper.  I ask for your name as I don’t like addressing emails to Dear info, Dear mail, Dear admin or Dear enquiries and if that’s how your email address starts I have no option unless I know your name.  Again, why would you not want people to know your name?

I have written previous blog posts offering tips to help accountants ensure their business cards work well for them. Whilst many accountants have great looking business cards, many still do not. So below I offer a summary of the 11 most common business card mistakes I see accountants making. You may find it helpful to check yours against this list.

Also, of course, if everyone (or enough of those) to whom you give your business card then follows up with you, engages you or refers other people to you, then all is well and you should ignore all that follows!

Plenty of accountants include on their cards something specific about the services they provide, niches on which they focus or a neat tagline that helps them stand out from the rest. All of these, done well, can work for you. I’m no marketing expert so will not attempt to tell you what you MUST do with your card. I simply offer here 11 mistakes that it’s easy to avoid.

Purpose

Before getting onto the common mistakes let’s just remind ourselves as to the reason for a business card. I suggest that it is to provide the person to whom it is given sufficient details for them to get in touch with you – and for them to know why they might want to do this. Also for them to remember you – beyond the next 24 hours or so. Will they remember you in a month or two when they look at your business card for the first time in weeks – especially if, since meeting you, they have met 2 or more other accountants?

1 – info@  admin@  mail@ enquiries@ etc

Email addresses that do not start with a name are generally a turnoff as they lack the personal touch Why not use your name? It’s even worse on websites where there is often no reference at all to who YOU are.

2 – accountant [dot] name [at] btinternet [dot] com or @yahoo.com or @gmail.com etc

Email addresses that use a generic email service look unprofessional and suggest that you are either new in practice, are not serious about growing your practice or are very much behind the times. None are great signals. You can get you own email address very cheaply even if you do not have or need a website.

3 – Tiny and/or pale font

Either the information on the card is worth including or it isn’t. If it’s too small or faint to read then it might as well not be there. Too many business cards seem to have shrunk the font size to fit in more information such as email addresses, linkedin profile links and a promo message. But if we can’t read it easily you’re wasting your time.

4 – Crossed out email address on card and new handwritten one added

Talk about unprofessional. Think of the impact this has. New contact details means new business cards. There’s little point in finishing off an old batch of cards if the people to whom they are given mark you down as unprofessional.

5 – Multiple office phone numbers. 

You should only need one office number unless you personally operate from multiple offices. Even then you could make it easier for callers by utilising a central phone answering service, installing a switchboard or adding an auto-redirect (when engaged or unanswered) to your mobile number.

6 – Two email addresses on one business card

Why would anyone do that? It’s not like having separate local and city office physical addresses. Make it easy for people to contact you; don’t force them to wonder and to choose.

7 – Flimsy and cheap looking card

Your business card is a memory aid for when you’re not there. Do you want to be remembered as a cheap amateur?

8 – Mixed up personal and business contact information

So many business cards have evolved with little thought apparently given to where newer info should be added. It’s so much easier if the business name, address and switchboard number are evidently separate to your personal name, title, mobile, direct dial and email address.

9 – Glossy or dark coloured card

I’m not the only person in the world who likes to make a note on the back of business cards I collect. We do this so that we can recall where and when we met and what we have promised to do by way of follow up; or  simply something about you that will make it easier to remember you. I know it’s great to feel that your card stands out from the rest, but will people still recall you and where and when you met etc if they cannot note this on the card?

10 – Forgetting to include ‘Accountants’ or any similar style reference

A surprising number of accountants’ business cards have a clever brand name or even just the individual’s name but no indication of the nature of the business service they offer. Of course if you’re ‘tax specialists’ you might put that instead of ‘accountants’.  Remember too that even if you’re a member of the ICAEW and use the authorised logo, not everyone will recognise this so it’s not sufficient.  And whilst a marketing ‘guru’ may have suggested you call yourselves something like ‘business growth specialists’ you still need to use the word ‘accountants’ (or whatever) to help the person who looks at your card, some time after you gave it to them, remember what you do.

11 – Squeezing everything onto one side of the card

All cards have two sides, why not make use of both sides. Larger firms might put personal contact details etc on one side and the firm’s details on the other side. Or you might use one side to highlight specific expertise, interests or services. Don’t just list everything that most people assume all accountants do. That’s a bit of a waste of space.

 

by

10 website insights for accountants to generate more sales enquiries

If you are a regular reader you will know I rarely include guest posts on my blog. In this tenth anniversary year though I have decided to stop being so precious. As long as the content is both directly relevant and useful to my audience and I agree with the advice and tips, why not?

In conversation with Peter Swead recently I realised his advice re accountants’ websites reflected views I have long shared. I’ve blogged on the topic before but am happy to share Peter’s ten website insights as they are bang uptodate.

Peter Swead’s top 10 recommendations for an accountant’s website to ensure it is effective at generating sales enquiries are:

1) Ensure your telephone number is on the top right of every website page.

2) Explain clearly and succinctly to potential clients how you can help – rather than the services supplied.

3) Keep text simple and short – no more than 200 words per page. Use simple English suitable for a 12 year old.

4) Break up complex information into bullet points so that it can be easily scanned.

5) Have the courage to be totally authentic – be the real you and set out what makes you special. That means no models or stock photos. Visitors want honesty – rather than beauty from your website. (Unless you’re also graphic designers!)

6) Ensure your website can be read and navigated on a mobile phone – without pinching.

7) Set up a Google My Business account. It’s free! Get a professional photographer to take pictures of the exterior of your premises, interior, staff and a group shot of staff and individuals.

8) Explain each service offered on a single page and then breakdown areas into sub pages – so that the VAT page could have pages on how you help with:

a. VAT returns,

b. VAT investigations,

c. Choosing the best VAT regime,

d. VAT book keeping,

e. VAT software (Xero / Act) supported

9) Be positive and explain how you help rather than what you don’t do.

10) Ensure your website pages load in 2 seconds. Every second of delay reduces the number of sales enquiries received by 7%

Each of the above points will provide an significant improvement to the cost-effectiveness of your website – but the total effect is compounded with each issue addressed.

For more information see http://paramarq.com/our-services/website-evaluations/websites-for-accountants/

I challenged Peter about the look and feel of his website as I felt that it didn’t look as good as many others I have seen. Was it a good enough advert for his business? I expected him to say that he hadn’t had the time to do much to it. Not at all. He keeps it simple and focused as he says he doesn’t want to reveal to his competitors all the techniques he uses to ensure that his clients’ websites are powerful drivers of sales.

by

If we don’t trust experts anymore what do you need to do to STAND OUT?

During 2016 politicians in both the UK (Michael Gove) and in the US (Donald Trump) repeatedly asserted that people have “had enough” of experts. Voting patterns seemed to confirm this as expert political and economic views were largely ignored. And yet, we also know it’s patently not true. If you have a health problem do you prefer to take the advice of an amateur or of an expert? What about if you were arrested?

So the real question is why do people trust some experts but reject others? Why do many people on the one hand seek medical experts for medical issues, but distrust climate experts for climate issues, and economic experts for economic issues?

It transpires there is an answer to this question – although it’s in a scientific paper so relies on the views of experts!

In a study published in 2015, psychological scientist Friederike Hendriks and her colleagues at the University of Muenster in Germany coined the term “epistemic trustworthiness”. This refers to our willingness or otherwise to place trust in, and listen to, an expert when we need to solve a problem that is beyond our understanding. The paper focused on our willingness to believe scientific facts but I suggest that the conclusions are more widely applicable.

The authors argue that for an expert to be high on epistemic trustworthiness they need three characteristics: expertise, integrity and benevolence. In other words, knowing stuff isn’t enough. This is key. For us to rate a person as a trustworthy expert they need to know their information, to be honest and to be good-hearted.  There are also echoes here of the work on the power of Influence by Dr Robert Cialdini.

Being an expert is just not enough any more. Experts are more likely to be believed if they are likeable and evidently honest. I have addressed this previously on my blog. One way to evidence your honesty is to admit what you don’t know. In so doing you add credibility to what you do know about. You evidence your expertise partly by accepting its limitations.

The research paper “Measuring Laypeople’s Trust in Experts in a Digital Age: The Muenster Epistemic Trustworthiness Inventory (METI)”  is actually a contradiction in terms. I am quoting it as justification for this blog post. But the very title of the paper works against it. In particular the very idea of something using a fancy term such as “Epistemic Trustworthiness” makes it less likely that many people will accept the premise of the paper.

Many experts make the same mistake. Clients are often alienated when they feel that we are using unfamiliar words and unintelligible acronyms. When we do this we are making the mistake of seemingly pushing our clients to rise to our level of sophistication and knowledge. We are much more likely to be trusted if we use words and phrases that are commonly understood and if we explain any necessary or helpful acronyms.

As experts we need to demonstrate that we are good, honest people who have our clients’ and prospective clients’ best interests at heart. We increase the likelihood that we will stand out from our competitors if we:

  • communicate more clearly and hold back on the jargon;
  • admit what we don’t know; and
  • develop a genuine interest in helping other people.

In a continuing effort to practice what I preach, I would encourage you to look around this website. Access any materials and blog posts that you find of interest and do get in touch if you feel I might be able to help you. If I can’t I’ll admit it and hopefully will know someone who can!

by

How much personality should sole practitioners put into their practice?

I was asked two related questions during a recent interview. This post is drawn from the notes I made before giving my answers on air.

1. With so many businesses competing with each other online, has it become more important to put more personality into your practice?

The smaller your practice the more important it is to allow people to know that it is you who runs it. I am assuming here that you want more clients and that you’re not simply looking to take on those people who want the cheapest possible job.

Your clients know who you are, don’t they? Why hide this from prospects? That’s what you do when you fail to include your name, a photo and something about you (as a person) on your website. It’s really easy to STAND OUT positively from all of your competitors who fail to do this. Let them be the ones who hide behind a business name and brand – with a website that only allows people to contact an unnamed info@ email address.

I’d encourage you to adopt the same logic when you are crafting or updating your Linkedin Profile. (See my free Linkedin Profile Tips here>>>)

And finally on this point, if you’re going to use twitter then ensure you use it in your own name with a photo of YOU. This will be far more effective than tweeting in your firm’s name. Personal twitter accounts always have more engagement and followers than those that operate in the name of small accountancy firms.

The more of your professional personality you show the more you will STAND OUT positively from your competitors who fail to do so.

2. Is there such a thing as too much personality?

I’m sure we’ve all seen people who confuse the idea of evidencing their personality with shouting about their achievements and activities online celebrex cost. This sort of behaviour is a turn-off and rarely helps build a positive reputation or new business leads.

What do you want people to say about you when you’re not there? You want to leave a positive impression whether online or face to face. If you have a larger than life personality that’s fine. It’s not for everyone, but if that’s your style then don’t hold back. Just try to ensure you are aware that some people may find you overpowering and so struggle to build rapport with you. Then  again, maybe you want to attract the sort of people who can relate to and enjoy the company of a larger than life accountant with a big personality. You can’t please all the people all of the time.

Be yourself – be authentic – be consistent. And let people take you for who you are.

by