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...
What happens when a client wants to sell up?
This is another piece in the series of what to do when clients want help with something that goes beyond your level of knowledge and experience. Imagine you've had a business client for some time. The owner trusts you and appreciates your advice. They tell you that...
Non-magical ways to make more profits in your practice
A while back I attempted to relate my advice for accountants to my hobby - magic (conjuring). I had a fanciful idea I would build a talk around the idea. I never did. But the analogies still work if you want to increase your profits. As I often point out, you need...
10 time saving tips for busy accountants
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...
What’s your approach to the provision of business advice?
When it comes to the provision of business advice, I've previously suggested that accountants serving business clients, fall into one of four categories: 1 - It's a no-go area: The accountant's business experience is limited and perhaps they don't feel that...
3 categories of time to track – not just chargeable time
I was surprised recently to see a firm of accountants being applauded for the fact that partners were given goals regarding client time. This is hardly newsworthy. Then I read more closely. The partners in this firm are measured in terms of three categories of...
Prediction: More low fee clients will migrate AWAY from traditional accountants
The traditional focus on recurring work and the associated recurring fees is likely to change in the near future. There are an increasing number of alternative, low cost and professional alternative service providers. Those clients who perceive that all their...
Protecting the title ‘accountant’ would be counter-productive
Although qualified accountants are aware that anyone can call themselves an ‘accountant’ I find that very few ‘real’ people appreciate this fact. They tend to assume accountants are like dentists, doctors and solicitors. If only that were the case! It is precisely...
Not all Accountants are business advisers
AccountingWeb recently ran a series of articles about accountants as business advisers. My contribution as Consultant Practice Editor approached the subject from an unusual angle. There is already plenty of material that seeks to persuade accountants that they need...
Accountants are very different to frogs
A popular parable for the impact of change is that of a frog in a saucepan of water. If the water is heated slowly the frog doesn't really notice the temperature changing and is eventually boiled alive. (Sorry about the image). This is said to be in stark contrast...
How to make more profits
There are essentially just six ways in which you can make more profits as an accountant, or indeed as any professional adviser: Increase your charges – for doing the same work you have always done Increase the perceived value of what you do Speed up collection of...
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...