Strategy Articles

How to make the 80:20 rule work for you

Although many people have heard of this 'rule' very few accountants consciously think about how applying the rule could help them and their clients. The 80:20 rule is also known as the 'Pareto principle', the 'law of the vital few' and the 'principle of factor...

When growing your practice is NOT the solution you need

Many management consultants would argue that if your practice fails to grow it will stagnate. Is that true actually? I think it depends on what one means by ‘grow’. Grow the client base? Turnover? Profits? Range of services? Efficiency? I prefer the word ‘evolve’ as...

Why are you not as profitable as you want to be?

Not all of my clients want to discuss profitability issues with me. So I don’t always know how profitable they are. If it doesn’t come up during our conversations then I assume they are happy enough with their current level of profitability. Or perhaps they are...

Solving your recruitment and resourcing challenges

The biggest issue facing accountants in practice these days isn't the rise of robo-accountants, AI or cloud computing. The challenge that seems to hold many firms back is the same old chestnut it's always been. It's the difficulty in finding good people to join the...

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What THE future holds depends on where you are now

Accountancy firms need to evolve to address the changes that the future heralds. What changes? Well, there’s lots coming but the changes that will most impact your life and your practice depend on many factors. It is just daft, if not lazy, to suggest that the same...

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Book review: The Numbers Business – Recommended

I had mixed emotions when I read Della Hudson's book, The Numbers Business. On the plus side it is a superb guide to growing a successful cloud accountancy practice from scratch. I also felt a degree of envy and frustration. There's a part of me that thinks I...

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“I hope they’ll tell someone about me”

Talking with an accountant recently I learned that he regularly receives phone calls from people who have found his website or phone number. Sounds good?  Yes it does and it's not at all uncommon. Many accountants get such calls. He was complaining actually that...

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Dealing with difficult clients

I often encourage accountants to identify and ditch your duff D-list clients. That's fine if you're in a position of authority in your practice - a sole practitioner or a partner for example. But what if you don't have that level of authority? Then it becomes a...

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