If you’re like most established accountants you probably believe that most of your new clients come from word of mouth and client referrals. Whether or not that’s really the case for you I doubt you have thought about how you could make it easier for your contacts to make good referrals to
Some accountants I know are proud of how efficiently they look after their own business affairs. Others though are embarrassed at their inefficiencies. And there are some who do not appear to give any thought as to how they are perceived. We all know the old adage that you never get a
You have probably heard the old networking idea that it's important to help people get to know, like and trust you. Only then will they buy from you. Only then will they even consider becoming your client. This idea originated in the book ‘Endless Referrals', written by Bob Burg, who said: “All things
A little knowledge is a dangerous thing. Increased knowledge can be worrying and a lot of knowledge is empowering. This is something it took me years to learn when I was in practice. Think about your own knowledge of how a specific tax rule works. One you don't have cause to think
Throughout my career it was the case that trainee accountants studied a wide range of technical topics. We were tested on what we had learned and on how we would apply our accumulated knowledge in practice. Then, typically after qualifying, we found out from our managers and partners that we needed to
Most of the accountants I meet claim that most of their best new clients come through referrals. When I dig deeper I find this is typically for one of the following reasons: They remember that their most recent new clients were initially generated by referrals; They don't get many new clients and also
Whilst I pose this question about competitive forces in the context of accountants, you might also find the concept helpful when talking with clients. Michael Porter first published his five forces model in a 1979 article published in the Harvard Business Review. In the context of an accountancy firm looking to the future,
When I suggest to accountants that they call clients and ex-clients to 'keep in touch', my advice is often received with a shiver. If you are comfortable picking up the phone and calling clients and ex-clients for a chat, you won't get anything from this blog post. On the other hand, if
Do you consider yourself to be a confident person generally? What about in terms of your ability to attract and win over prospective clients? And to keep clients happy and willing to pay you the fees you deserve for the work you do? Whilst many accountants I work with have a fair degree of
Accountants have a distinct advantage over most other service professionals. Your clients need your help on an ongoing basis, at least once a year and often more frequently than this. When we discuss the lifetime value of clients at meetings of The Inner Circle for Accountants we have to consider how long
When I ask accountants this question, they often struggle to give an answer. And many of those who quote a higher than average figure do not seem to have worked out what services they will need to provide to earn such a fee. If you are happy simply taking on more of
Weird question? I know. But stay with me for a moment. For as long as I can remember accountants have treated CPD as being synonymous with technical training - by which I mean technical updates and courses intended to explain new rules and regulations. And surely we have to prioritise such training?
I wonder if you make an all too common mistake. We all hope that clients will want us to provide a range of services to them. And we hope that clients will recommend and refer us to other prospective clients too... But, as I frequently point out, 'hope' is not a strategy.
The following observation on Facebook reflects a common perception. 'It's a shame that nowadays it isn't enough to just be good at what you do. You need to be good at all this other stuff (marketing etc.) otherwise you don't get anywhere.' My response was as follows: — It has NEVER been
Everyone's experiences are unique. One of the keys though is to ensure that the way you reference your experiences is relevant to those who are hearing or receiving your message. This is a point I often stress during my talks and mentoring sessions. There is another related issue that few people discuss
There is no doubt in my mind. The more focused you can be as regards your ideal clients the more chance there is that they will recognise you as an accountant they should approach. And, if you have a clear focus, the easier it will be for other people you know to recognise
I have never ‘swiped’ someone’s profile picture as online dating didn’t exist when I met my wife. The whole concept of swiping left or right is quite alien to me. I was curious though so asked a friend to show me how this ‘swipe left’ and ‘swipe right’ business works. It quickly became
One of the accountants I spoke with recently has been struggling for over three years to build their own practice. Although they had won a fair few clients in year one, some have since moved on. The accountant feels their service is good enough and that their fees were not excessive. They
A journalist asked me this question last month. “What will accountants be doing differently in 2019?” Before replying I gathered my thoughts which I now share below. For reasons which will become obvious I didn’t say all this when I spoke with the journalist! As usual there’s an implicit assumption in the
What are your top skills? The key question though is not what YOU think they are, but what other people believe you are good at. What do your contacts and connections say when they reference and recommend you? And what do your clients say? A few years ago I had a surprise
When I ask accountants what they would like to be different in their practice, one theme is more common than any others. They frequently express the desire to have better quality clients, to increase their average fees and to be doing more interesting work. One sole practitioner accountant expressed this quite succinctly.
The ten mistakes I share below are based on the lessons I have learned from personal experience during which I was wearing one or other of the following four hats: 1 - A partner (in the past) in two large firms of accountants where I was responsible for writing pitches and fronting
During my talks about the future for accountants I sometimes share a famous quote from Bill Gates. Before repeating it here, let me just offer some context. There has long been a tendency to over-hype new ideas and initiatives. Some accountants jump on the bandwagon early which is great. I don’t do
Think about ten top accountancy brands. Or at least the ones you can remember. How many of those do you think your typical client would be able to name - or would even recognise? Once you move outside of the accountancy and finance professions, brand awareness drops off very fast. Even the
What are you selling as an accountant? This is a simple enough question, and knowing the right answer could make a profound difference to the success of your practice. Let’s start with what you’re NOT selling. As I explained in a recent blog post, You’re not selling your time. And you’re not
