Some readers of this blog will be aware that I recently created a new seminar for accountants: Mastering the credit crunch – Your practice, your advice, your future.
During what was a highly practical and commercial half day I suggested that the credit crunch (or recession as now seems to be accepted as a more accurate description of the economic climate) presents new challenges and new opportunities for accountants.
Simply stated, if we carry on doing what we’ve always done we will probably be LESS successful than in the past. Why? Because more of our clients will be suffering financially and this will impact on their willingness and ability to pay us and to stay in business. Our fee incomes and profits will fall unless we do things differently.
Feedback from the hundreds of accountants who attended the seminar was more positive than I had previously dared hope. And I will shortly start sharing with the attendees the follow up feedback that is still being collated.