Be Like Ray
Last Thursday Ray and his wife Susie came for a home visit. A few drinks on the deck of my golf course clubhouse then some Pizza. I coached Ray and his team from 2010 – 2014. In 2010 he was around less than $1M in revenue and his time was maxxed out. In 2013 we […]
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 […]
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?
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.
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?
T.E.A.M – Together everyone achieves more
How to build performance in your team? It starts with the right people. Second, are they motivated? Third, do they know how to do it? And lastly, are you providing the right environment conducive to success?
Adding Value to what you are doing
I have been telling Accountants to Add Value since I started working with Accountant in May 1994. If you are going to remain relevant to are going to have to add value. Here’s the thing. If an Accountant ‘see’s’ an issue or opportunity in the client details then they obliged to tell the client. The […]
