Accountants

The latest technology revolution isn’t just under way, it’s about to get bigger.

Hot on the heels of the “consumerization” of IT is a new uprising, one poised to forever change how we use technology at work. Known as “Bring Your Own Device,” or BYOD, it promises to provide the workforce with increased flexibility and mobility while possibly lowering costs for IT departments.

The consumerization-of-IT revolution took place after technology devices marketed for personal use—most notably, smartphones and tablets—began being released and adopted faster than corporate IT groups could test, deploy and support them. People bought these devices in droves and brought them—iPhone and Android, iPad and Kindle Fire—to the office. Read more

Thank you to William Shakespeare for the above title (sorry I just couldn’t help myself). In an earlier post on the The Pulse I banged on about the importance of asking questions when meeting and discussing issues with clients and pitching for new business. Now we visit the other side of the communication coin – listening.

Listening is perhaps the most important skill any accountant or professional adviser can bring to a discussion with a client, potential client, staff member, government department, supplier and so on. When you listen … really listen … to the other party some quite amazing things begin to happen. Here are just three to think about: Read more

As readers are aware, the ongoing review by the government in the provision of financial services continues.

One of the issues is the removal of exemption that permits accountants to discuss issues relating to pros and cons and the establishment of self managed superannuation funds. It appears that the only way a practitioner could have the holistic discussion is to ensure that they will be licensed by either establishing their own licence or operating as an authorised representative of a dealer.

However, it is not as simple as that. A financial services licence requires a different process to be adopted. We think this will create a confusing situation for both accountants and clients. Read more

In my day job helping accounting firms attract and retain talented partners and staff, I’m often asked what things separate good professionals from great professionals. Leaving technical and relationship building skills to one side, invariably it is the “small things” that really make a difference. One small thing – believe it or not – is voice mail.

Accountants, like other professions, need to communicate with their clients, prospects, government departments, suppliers and a host of others. Naturally enough, the telephone is a common method of communication. When you use the telephone you can’t avoid the inevitable … voice mail. Read more

One of my favourite maxims is  – “If you want a better answer … ask a better question.”  I love it so much it appears in the header graphic of my own blog . If you don’t believe me, just look up whatdoclientsreallywant.com.

Clients are impressed by accountants and advisers that ask questions they weren’t expecting or that they haven’t been asked before. It shows preparedness on the part of the questioner that he/she has invested time and effort in understanding the clients business and circumstances.

One of the best questions one can ask is “why?” If asked in the right way, the question of “why” can uncover a treasure trove of insights. There is a school of thought that claims that asking “why” at least 3 times in the one meeting or conversation can uncover the root cause or motivation behind any aspect of business activity undertaken by people both internal and external to an organisation. Read more

I’ve worked in and around the Accounting profession for more years than I care to remember.  With my headhunting hat on I usually work at the Partner and Director level, across both big and small accounting firms.  Amongst other topics of conversation, the subject of “those darn Gen Y staff” comes up on a regular basis.  To remove any confusion – Gen Y refers (at least in my mind) to those people born between 1980 to 2000.

I’m sure you’ve heard the usual traits attached to Gen Y: self-absorbed, sense of entitlement, lack of loyalty, poor worth ethic and more.  You get the idea. Read more

Accounting practices need marketing just as much as anyone else. Marketing isn’t, as many people imagine, just about advertising and trying to help the sales team make a sale. And yes it may eventually come to that, but marketing in the truest form, the very foundation of it, lies with the customer. It is understanding what your customer’s points of pain are, what they need (not necessarily “want” in the words of Steve Jobs) and then creating a solution. It doesn’t end there. You need to ensure that the solution is delivered in the right way, the easiest way for your customer to access – deliver the optimum customer experience. You also need to consider how what you are offering is going to differ from what everyone else in the market offers. What is going to make you unique? Why should they buy ‘it’ (whatever ‘it’ is) from you? There are then decisions on how to price the product, where to distribute it and only then do you start the work of promoting it. Read more

I’m assuming, if you’re reading this article, that you’re an accountant or at least working in the industry in some capacity.  Let me ask you a question … “As an accountant what is the most important thing you do for your clients?”  Over the years I’ve been given any number of responses to this question.

Some say, “Keep my clients safe & compliant”.

Others say,  “Make their lives easier”.

While many say, “Get them a big tax refund”.

However, the most common response I receive to this fundamental question is, “to add value”. Read more

Have you ever seen what happens to a 20 year old when they lose their smartphone? It’s the end of the world!  The current generation that has grown up with the internet has an expectation that they will always be connected.  They want instant access to the information they need and to be able to connect with people important to them whenever they like, regardless of geographical location.  While we older people have been critical of this reliance on technology, it is in fact a very efficient way to live. Generation Y spends less time finding the information they need and exchanging ideas with their peers. It may not seem like it since they seem to be perpetually communicating but that is a result of a much higher level of communication than what has occurred in the past. Read more

One of the great challenges for firm leaders is to be able to delegate effectively. It is critical that they do so. Most often capacity shortages are highest for the senior people in the practice. Delegation is enabled by good processes and training. Well documented processes enable less experienced team members to follow the documented steps which are supplemented by checklists and other tools to assist them in completing the work. Great training programs equip team members to take on more challenging work. These things should enable delegation and often they do, but it is also the case that delegation still doesn’t occur. Read more