I’m referring here specifically to, what I call, Unplanned Fanciful Opportunities (UFOs). Those tempting ideas that appear unexpectedly and seem as though they might solve a problem, unlock growth or open a new door.
Sometimes they do. Sometimes they are simply an expensive distraction.
These are different from the usual ‘squirrel’ moments that pull us away from work we already know matters.
A UFO can look commercially sensible at first glance. It may even arrive wrapped in enthusiasm, urgency or apparent logic.
Increasingly, it arrives wrapped in AI, with promises of transforming your practice, saving countless hours or revolutionising the way you work. That is often what makes it difficult to assess clearly.
Not every opportunity deserves your attention
Recent UFOs described to me by accountants have included:
- A marketing proposal that sounded far more strategic and valuable than it turned out to be. Once explored properly, it became clear the accountant would need to pay upfront before any meaningful discussion about likely outcomes or suitability.
- A prospective recruit who approached an accountant directly despite no vacancy existing. What began as an interesting conversation almost triggered a substantial strategic rethink to accommodate the recruit’s ambitions.
- A possible merger opportunity that emerged unexpectedly. Again, once the excitement settled, the accountant realised they were being pulled away from a direction that had previously been working perfectly well.
- An AI tool that promised to automate large parts of the practice. The demonstration was impressive, but once the practical questions were asked about integration, security, quality control and the team’s willingness to change established processes, the opportunity looked rather different.
None of these were ridiculous ideas. In different circumstances, each might have been worthwhile. The issue was not the opportunity itself, but whether it genuinely aligned with the accountant’s priorities, capacity and longer-term plans.
That distinction matters more than many practitioners realise.
Some UFOs are absolutely worth pursuing
Not every unexpected opportunity should be dismissed. Some deserve proper consideration, provided the accountant approaches them thoughtfully rather than emotionally.
Here are five recent examples that did merit further exploration.
Revisiting networking with a clearer purpose
One accountant was invited to attend a new local business networking group. Ordinarily, they would have declined immediately after years of avoiding such events.
This time, however, we discussed how they could introduce themselves in a more distinct, positive and memorable way.
The opportunity only became worthwhile once there was clarity around what success would actually look like.
Being more strategic about social media
Another accountant was encouraged by a friend to become far more active across social media platforms.
That advice only made sense if the activity attracted the right type of clients.
Rather than attempting to be visible everywhere, we agreed a more focused approach on LinkedIn would likely deliver better results with far less wasted effort.
Exploring AI with a commercial purpose
Several accountants have asked whether they should be investing more time and money in AI. That is a perfectly sensible question, but not because everyone else seems to be talking about it.
On the bonus episodes of my podcast, I’ve heard dozens of sole practitioner accountants explain their approach to integrating AI into their practices. As ever, some have staff and some do not. But that isn’t the factor that seems to distinguish the cheerleaders from those who are more reluctant to leap into the unknown.
The most worthwhile conversations have focused on specific problems the practice is trying to solve. If an AI tool genuinely improves client service, reduces repetitive work or frees up time for higher-value activities, it deserves attention.
If it simply creates another learning curve without a clear commercial benefit, it may be another UFO best left unexplored for now.
Neither approach is right or wrong. It all depends on the practice, its priorities and what the owner is trying to achieve.
Quoting properly for a demanding new client
One of my mentoring clients told me about a potentially valuable new client who had appeared unexpectedly. The recurring work was substantial and probably quite profitable, but only if the practice adapted its internal systems and increased capacity in the short term.
Instead of automatically pursuing the engagement at any cost, we agreed that the accountant would increase the basic fee and introduce front-loaded interim payment terms to protect the practice from the impact of the required changes.
Looking beyond the software or AI demo
New software proposals and AI driven tech can easily become UFOs too, particularly when AI features dominate the sales presentation. Demonstrations are designed to showcase strengths rather than limitations.
In one case, we discussed the questions that needed asking before any commitment was made, ensuring the conversation happened on the accountant’s terms rather than entirely on the supplier’s agenda.
I also recall one of my podcast guests explaining that her team are only allowed/encouraged to explore new software during a fixed two-month quiet(ish) period each year. If a product is genuinely worth considering, it will still be there then. In the meantime, the team stays focused on serving clients rather than chasing every new development.
Why experienced accountants still value a second opinion
Sometimes accountants mention these UFOs during our regular mentoring calls.
At least once a week, however, one of my mentoring clients contacts me specifically to discuss an unexpected opportunity that has appeared out of nowhere. It is all part of the support available within my Mark 2 and Mark 3 mentoring packages.
I enjoy these conversations enormously because they are rarely just about the opportunity itself. Usually, my client, typically an experienced accountant, has been approached, tempted or challenged in some way and simply wants space to think clearly before committing time, money or energy.
At the moment, AI features in many of those discussions. Not because I claim to have all the answers, but because it helps to separate genuine opportunities from the understandable fear of being left behind.
Most of these accountants have spent years making important decisions alone. Generally, that has served them well.
But even the most commercially aware practitioners can benefit from talking through an idea with someone independent who understands both the pressures and the realities of running an accountancy practice.
The real value of talking things through
We all like to trust our instincts. Often our instincts are right.
Equally, there are moments when an outside perspective helps us unpack our thinking more quickly and more objectively than we might manage on our own. A good conversation does not remove responsibility for the decision, but it can bring greater clarity and confidence to the process.
I get a real buzz from hearing clients thank me for helping them reach their own conclusions faster and with fewer sleepless nights than if they had continued wrestling with the issue alone.
Originally, these UFO discussions were not an explicit part of my mentoring offering. They became one simply because I realised how often accountants wanted that sounding board when unexpected opportunities appeared.
AI will undoubtedly continue generating plenty of new UFOs. Some will change the way practices operate. Others will quietly disappear as the hype moves on. The challenge, as ever, is working out which is which before committing scarce time, money and attention.
And perhaps that is the real question.
How much time do you devote to checking out UFOs—and how do you decide which ones genuinely deserve your attention?
