2022 Report on the state of the North American Accounting Profession
T.E.A.M – Together everyone achieves more
Share This Article
Author
Related Articles
7 tips for taking control back this tax season
The 8 Points You Need to Hit to Keep Your Accounting Team Engaged
Office or home?
Nowadays, more and more employees are having to work remotely. COVID aside, employees now don’t need to waste time commuting and can use their time during the day better. Companies all around the world have seen this trend and many of them hop on it.
And the offshore world is no different.
Build trust – share this with your team
Great teams are those that trust their leaders.
One great way to build trust is becoming fully-transparent about your company’s metrics.
Do you disclose your company’s cash flow or profit with your employees?
Don’t forget about your team
A-class clients are the backbone of highly successful accounting firms.
To offer them the level of service they expect, you need to decrease inefficiencies in your firm. Most of the time, you can achieve that by tightening your processes.
Prices don’t matter
I want to talk about stuff that’s CRITICAL if you want to keep growing your business.
Lead generation.
Because you have a lead generation strategy, right?
Don’t worry – if you chuckled or are wondering what you just read, you are not alone. Many accounting firms don’t pay much attention to the active lead generation.
New clients just magically appear, right?
The Wealthy Accountant: Creating Contents
Millions of people from all over the world are drawn to Machu Picchu in Peru. Its popularity is increasing every year. Why? Content.
The Wealthy Accountant: Changing The World
Just like Iguaza Falls in Argentina & Brazil, The Wealthy Accountant is viewed externally in a beautiful way.
Why I believe in you
Did you know that there’s an estimated 500M+ of small to medium sized businesses in the world?
And pretty much every one of them is ‘connected’ to an accounting firm in some way, shape or form.
Be it by tax, compliance or audit.
Out of that 500M+, around 1.3M are accounting companies – just like yours – generating around US$500BN in revenue.
The 6 Criteria for an A-Grade Client
No accounting firm can work with just anyone. Picking the right clients can often make a difference between failure and success.
Even the biggest accounting firms out there don’t just accept everyone who knocks on their door. No matter how capable they might be, they’re not willing to work with clients who are not a good fit.
I believe this is an important lesson that all accountants need to learn.
115 ideas
I was speaking at a conference in the Philippines this week. There were 120 Accountants from the USA and Australia in attendance.
I warmed them up with some ‘possibility thinking’ then I showed them the financial model of >$1M profit per partner after tax – while working less than 500 hours.
Then I unveiled “The 8 Accelerators” (which was new to most of them).
Virtual teams
I have a business coach and I believe every business owner should have a specialist coach who knows their industry inside out. My coach is called Taki Moore. He coaches Business Coaches. I’m in his top tier (you have to qualify to be invited) private program called Boardroom.
At my last coaching meeting we had 2 special guests come speak to us. Alex and Leila Hormozi from Gym Launch.
Alignment Plan
Getting your team (and Partners) on the same page as you is so so important. It can sometimes be hard but it doesn’t need to be.
Once everyone is on the same page and rowing in the same direction your business will really fly.
The first step in getting everyone on the same page is having a page they want to be part of!
What is the vision?
What is the direction?
Who do we want to serve?
What do we want to sell and deliver?
How will we know if we’ve made it?
What are the milestones and time-frames?
It’s all about the culture
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.