How Accountants plan and how they should

How Accountants plan and how they should

For the past 24 years I have interacted with over 175,000 Accountants across the globe and directly coached 434 firms adding over $850M in new profit to those firms. In that time I have seen all sorts of revenue / profit planning methods. From no plan, finger in the wind (hope is not a strategy), to the typical (worst) kind.

The 4 most important questions to ask

As an Accountant, you don’t sell time. You already know that – you sell what you know. You sell knowledge, wisdom & solutions. You turn intellectual capital (what you know) into intellectual property (a report, paper, file etc). Having said that the majority of the Accountants I have met (over 175,000 of them in the past 24 years) have set their business model up as a ‘labor for hire’ business – a time seller!

It’s Marketing Season

Marketing

Every year at the same time the Accounting profession enters the best marketing opportunity of the year. Most call it ‘tax season’ I call it ‘marketing season’.

Think about it. During tax season, you’re about to meet (or speak with) almost all of your clients over a relatively short period. What an opportunity to find out what they really need?

It’s all about the culture

People

Most Accounting firms culture just happens. It just happens the way it is. It is like a “culture by default” where in fact you can create “culture by design”. You can decide what you want your culture to be.

Partner Remuneration

Leadership
How much should a partner of a multi partner accounting firm be paid? Should it be equal pay because you have equal shareholding? If it is going to be equal…

Marketing is not sales – #firmofnow

Marketing
Accountants are not very good at marketing – marketing people are. My definition of marketing is ‘salesmanship multiplied’. My definition of sales is ‘finding out what the other person needs…