Business Strategy Articles

6 steps to Winning the War for Talent in Accountancy Firms

The current challenge of securing adequate competent and experienced staff is nothing new.  Accountancy firms have long been competing in what has become known as the 'war for talent'. I’ve never liked this term. The only alternative, the 'battle for talent', sounds...

How accountants can stop doing extra work for free

One of the most common issues accountants raise with me is how can they stop getting caught out doing extra little bits of work for free? This has become more of an issue for many of them since they started quoting fixed fees. The issue comes up less often for those...

Mastering the 80:20 Rule to improve how you prioritise everything in your practice

Although many people have heard of the 80:20 ‘rule’, very few accountants consciously think about how they could apply this principle to enhance way the way run their practice. The 80:20 rule is also known as the ‘Pareto principle’, the ‘law of the vital few’ and the...

15 key business skills for future focused accountants

In my latest talks about what the future demands from accountants I reference key business skills. This is a subject that has long been dear to my heart as, after I had been working in tax for a while at what is now Deloitte (back when it was Touche Ross), I helped...

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10 fallacies accountants should not buy into

Not all accountants believe all of these fallacies. And some have been part of our psyche for so long we think they must be true. Others are repeated by salespeople and consultants who want you to believe stuff so that you’ll buy what they’re selling. But a...

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10 commandments of client service for accountants

Over the years I have seen and heard much advice on the subject of client service for accountants. What you should do and what you should not do. I've whittled these down to the following list of ten 'commandments'. I wonder if you agree with me and if there are...

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Adapt or stagnate as AI changes the accountancy profession

When we go to see our local GP we expect them to fulfil 3 primary roles. We need them to diagnose our problems, to prescribe solutions and to care for us. There is a direct parallel with the role of accountants. And, as this decade continues to generate new tools...

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3 ways to increase the perceived value of your services

I hope you would agree that clients choose you as their accountant because they believe that your services will be of more value to them than those of a cheaper accountant. Or else they stay with you because you are cheap. To win more clients and to keep your...

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What type of service guarantees do accountants offer?

Let’s be realistic. If you did some work for a client but they weren’t happy because you made a big mess of it, would you insist on charging them extra to correct your mistake? I hope you wouldn’t even consider trying to charge extra to resolve a mistake of your...

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How to deliver advisory services for maximum success

'How to deliver advisory services for maximum success' is the sub-title of a superb new book for accountants that I read recently. I'll share the author and title later in this post. Let's just say that I wish I had written this book, as I am already recommending...

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