Latest Articles
Why does an accounting firm need an office?
A few of my clients have recently commented that as a result of the pandemic they are thinking about their office space differently. It was also one of the topics I talked about in a vodcast I produced (See it here here. ) One firm owner in one of my groups noted that...
Making the most of the lead up to the end of the year
The end of the calendar year is rapidly approaching and for many it probably can’t come soon enough. I’ve been turning my mind to some things accounting firm owners and managers could benefit from thinking about at this time. In my experience December and January can...
What does succession look like inside accounting firms?
Succession could be defined as the process by which the current owner/s of a firm transition and handover ownership to new owner/s. When I say handover I don’t mean for free! The usual situation will be a sale of equity to new owners, often on a stepped basis over a...
What accountants can learn about referrals from Steve the pool guy
There are many ways an accounting firm (and other businesses) can win new clients. Today I want to focus on referrals - why they are important and what my experience with Steve the pool guy demonstrates in a powerful way. Let me tell you about Steve the pool guy. When...
Are you fully meeting the needs of your clients?
In considering this I want to break those needs into four categories: Needs the client has identified and is having met by you (Example – annual accounts and tax returns) Needs the client has identified and is having met by another provider (Example – bookkeeping or...
The value of a shareholder agreement for a multi owner accounting firm and 11 key things to put in it
I’ve been working in and with accounting firms for thirty plus years and one of the things I’ve observed is just how important having a good shareholder agreement is. For some firms this will be known as a partnership agreement because they operate as a partnership,...
When and who to hire next in your accounting firm
Recently I’ve had quite a few conversations with clients about when to hire the next person into their accounting firm and what role it should be. I hold the view that as a business owner you should always know what role your next hire will be and roughly when that...
Are you using your time wisely?
I’ve regularly observed within accounting and other professional firms that some people just seem to have the knack for getting more things done. Each person has the same number of hours in the day and yet some are clearly kicking more goals and seen as high...
Elite athletes, coaching and business
Many of us were looking forward to the Tokyo Olympics this year but sadly that is not to be. Have you noticed that stories about the Olympics are not just about the athletes? We also regularly hear about the coaches too. So what exactly does a coach do and why is...
Five ways to attract and retain great people for your firm
I wrote an article comparing accounting firm management to wine making and finished by saying: Your team and your clients are like the grapes in wine making. You source the best quality you can and then cultivate them and care for them. The result is season after...
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