ALL ON BLACK
The decision of who your target market tends to take a bit of time. You’ve got some research to do and more than likely you’ve got to convince yourself. Here’s the thing – any market will work! Now that is a bit broad of a statement. As long as your target market ticks all 5 […]
WHO DESERVES WHAT YOU DO?
I was in one of my forum meetings yesterday and Simon Bowen said he was re-focussing his target market. Then he said….“I need to work out who deserves what I do” Boom. Love it. I just love the confidence it exudes. We all do great work for so many people. But, as we know some […]
Comfortable
As an advisor to the Accounting profession for 27 years my biggest competitor has always been Partners comfort. Let’s face it, it’s really not that hard to earn $250K – $500K as a Partner of an Accounting firm. Yes, you’ve got some long hours to put in (however, not all year around) but in all […]
Breaking the old model
The traditional ‘practice model’ of old is … Hours taken x hourly rate +/- write off = Price. Typically a time based billing process. It’s a labour for hire business model. More labour = more hours = more revenue. The hourly rate was set based on a multiple of hard salary costs – say $80,000 […]
Niche down!
Here’s a common belief that I see many accounting firm owners share:
They think their services are too specific to waste time on marketing. They look at what others are doing and believe there’s just no way marketing could work for them.
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.
Hitting targets
As a teenager I was Australian Junior Archery Champion twice. I have 2 gold medals from the National championships and I represented my country twice as well. I was training 5-6 times per week under the guidance of a seasoned coach and won gold when I was 14 and 17. I set many National records and beat the Men in the open championship. I knew what it was like to set goals, get good guidance and put the work in from an early age.
