The term *wantrapreneur* is usually credited to Noah Kagan. It describes someone who loves the idea of running a...
Business Strategy Articles
There’s one question every sole practitioner accountant should regularly ask themselves
The first time I told the following true story to a friend, I realised it had profound implications for many sole...
Why it’s time to let go of the ‘time is money’ mindset
If time is money, why are you giving so much of it away for free? For example, in free 'discovery' meetings that go on way too long, It’s a fair question - especially for accountants who’ve built their careers around billing by the hour. But in a world where fixed...
The importance of taking action: a lesson from a procrastinating accountant
I recently reconnected with an accountant who first reached out to me six months ago. Back then, we discussed his challenges, and I shared specific advice tailored to his situation. When we spoke again, I discovered that his problems hadn’t changed. He admitted he...
Seven beliefs every accountant needs to embrace to achieve success
Before I share my list of seven beliefs, let me explain what led me to this position. Most accountants who contact me are struggling in some way - even those who have achieved a degree of success. Their challenges vary, but I often find myself congratulating them...
You trained as an accountant, not as a business expert – so how do you bridge the gap?
Another way of asking that question is: How do you develop the key personal and business skills you need to succeed in practice? All decent accountants have spent years developing their technical skills, often through study, exams, and hands-on experience. And then...
Running your own accounting practice: are you in control or just keeping up?
You probably started your practice to secure freedom and success—so why does it feel so relentless? Running your own accounting practice can be rewarding. That’s something I often hear from accountants I interview for the Accountants' Success Secrets Podcast....
Why cybercrime is the silent threat targeting accountants—and how to stop hackers in their tracks
A recent conversation with cybersecurity expert Francis West prompted me to revisit a previous discussion here about the risks of cybercrime affecting accountants in practice. Given the evolving threat landscape, I asked him to highlight the current challenges and...
What’s the first thing you need to find out from a prospective new client?
When you are approached by a prospective new client it is tempting to simply give them what they say they want. Very often this will be a fee quote for the work required to help them with their annual compliance obligations. As this area of work becomes more...
Are you a specialist or a generalist accountant? Should You Stick or Switch?
Most general practitioner accountants I talk with (and I talk with a lot of them) are, obviously, generalists rather than specialists. They typically started out as general practitioners and often stay that way as their client base has always been quite disparate....
The worst mistake an accountant can make – and how to avoid it
A journalist once surprised me with a question I wasn’t anticipating: “What is the worst mistake accountants can make when they are trying to ‘close’ a prospective client?” When I later reflected on my instinctive reply I was satisfied it contained good advice -...
Is your business name sufficiently memorable?
Most professional advisory firms are simply named after their founders. Some retain the names of just the first two or 3 partners. The longest I have found, unless you know better, was a small Los Angeles entertainment firm, once known as: Ziffren, Brittenham,...
What NOT to do when a client disputes your invoice
We've all had them. The client who sends a detailed letter/email listing a load of issues and problems. Sadly I can recall receiving the odd one or two such missives when I was in practice. I remember the feeling of indignation. The frustration at the unfairness...
15 quick tips to grow and build your practice
This week I am sharing with you 15 of the key points I referenced during a conversation with an accountant who wanted to know what they should be doing in year 5 of their newish practice. The advice I shared is of wider application so I hope you'll find it helpful...
How to Beat Imposter Syndrome: Tips for Sole Practitioners
You are experienced, good at what you do and yet, you sometimes feel you need validation as to your value as an accountant - especially if you are a sole practitioner, running your own practice. Perhaps, like so many others, you resort to over-preparing,...
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',...
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...