Business Development Blog for Accountants in Practice
Every week Mark provides fresh, practical and commercial business development related insights and advice
Latest Posts
Are you accidentally running a wantrapreneur practice?
The term *wantrapreneur* is usually credited to Noah Kagan. It describes someone who loves the idea of running a...
Why accountants should learn to speak with confidence
I have lost count of how many times I have heard stories about accountants who failed to make the most of a speaking...
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First focus on what you have – before you try to win new clients
So many professional firms seem to focus on winning new clients - it's scary. What about the existing clients? In some firms around 90% of fees come from the same clients year on year. Here are some questions to ask about your recurring clients before you start...
What do you count as a bad client?
I regularly encourage accountants to ditch their bad clients. There are two primary reasons for this. - Following the Pareto (80/20) principle, you can be sure that your worst clients (however small the number) cause the bulk of the problems and hassle that you...
What is a fair fee?
Imagine a client has accepted your fee quote but that the work takes you less time than you had expected. Would you reduce the fee to be 'fair' to the client? If you find yourself in such a situation only you will know what is the right answer in those specific...
Filling vacancies at professional firms (part two)
Since posting the first part of this blog on filling vacancies at professional firms I have been delighted by the general agreement that has met my observations. I have also received a number of requests to share what I think could be included on professional...
Filling vacancies at professional firms (part one)
I thought I'd share some thoughts here that I have raised with many firms over the years in the context of their recruitment needs and how they fill vacancies. I touched upon this in a recent series of postings 'winning the war for talent'. Imagine for a moment...
What sort of advice do you give? Specialist, Compliance or Dangerous? (part two)
In yesterday's blog I described what I see as the three categories of advice that best describe the approach of many professional advisers. The third category I described was 'dangerous' and I explained that advisers giving dangerous advice, normally do so as they...
What sort of advice do you give? Specialist, Compliance or Dangerous? (part one)
What would be the impact on your practice if a client alleged that you had been negligent? It's not something that anyone wants to consider, of course.Often such allegations lead to complaints that result in investigations and disciplinary proceedings, or a...
The value of detailed fee quotes and bills for professional work
It's been a while since my last blog post on the subject of billing and fees. What has inspired me to return to the subject? Well, I've just had my car serviced and I was impressed with the sensible way that the garage both managed my expectations and the way they...
Websites for professional firms
When I am approached by accountants who might want to work with me I invariably check out their websites before we speak. Some are good. Some are lousy. Some don't exist and some are almost indistinguishable from those of other firms who have bought the same web...
Networking mistakes to avoid
I spend so much of my time focussed on helping ambitious professionals to do the ‘right’ things it’s all too easy to overlook the converse. Here are five networking mistakes that are best avoided if you want your networking efforts to be worthwhile. Don’t play...
Networking for professionals
After a recent co-coaching call I realised I should have a little something of value to send to new contacts after I meet them for the first time. After a couple of milliseconds I concluded that the most valuable item I could supply would be an extract from my...
What makes an effective business card for ambitious accountants?
Over the years I have collected thousands of business cards. Most of them are almost indistinguishable from each other, even though the people handing them to me operate in a variety of professions. Some people underestimate the value of an effective business card....
Good agendas for client meetings
Many of us attend meetings of various clubs, societies and professional committees. Invariably someone will have produced an agenda for the meeting. Why? More to the point, why are agendas the exception rather than the rule when accountants are meeting with...
Three elements of communication – and the so called “7%-38%-55% Rule”
You've probably come across this 'rule' on a communication seminar or course somewhere. It's not true. Sadly, most of the people who reference the concept are unaware of the origin or that they are invariably quoting it OUT OF CONTEXT. As a professional speaker...
Getting straight to the answer may not be best
Imagine your client collects all their receipts and asks you as their accountant to produce accounts (if required), a tax return and then to advise how much tax is payable. Alternatively the client may collate the information onto a spreadsheet or into a simple...