Creating Progressive Accountancy Firms
The Ravens Wood Consultancy helps to create Progressive Accountancy Firms for the competitive modern world and use similar techniques to the top 50 firms.
Clients are becoming more demanding and have greater needs than ever. They are looking to work with their Professional Advisors on a partnership basis and are no longer content with accountants that merely record history.
Google has made experts of everyone, no longer do clients blindly accept or canvas opinion from their Professional Advisors first.
Clients have greater choices more readily available and a lot of information and advice is freely accessible.
The rapid development of software solutions for accountancy means that you do have to "Wake up and smell the coffee." In America, small business owners (80% of your client base) are using a software solution and no longer use accountants for their accounting needs. The most popular is Turbo Tax (www.turbotax.intuit.com). In the UK, we already have Xero, Quick Books and many others are being developed.
Consider how you can differentiate and add value to your clients.
Your technical competence is not in question, it is accepted. Therefore, to reel off a list of services will no longer do because every other Accountancy firm does that. What makes you different from your competitors down the street.
Can you genuinely say Yes to the following?
- We listen to our clients' needs and understand their soft facts
- We are knowledgeable about our clients' sector, industry and economic environment
- We have sector experts in house
- Our clients are managed with a holistic approach and not by individual Partners/Directors
- Every member of your staff is involved in the marketing and business development of your firm
- You are getting value for money for every £1 you spend on Marketing and Business Development
- You have a clear understanding of the skill set required to prepare a Marketing Strategy and deliver growth through Business Development techniques
- You have a full understanding of your clients' growth, new products/services plans for the future; succession planning; exit strategy or flotation aspirations
- You have never been told by your client they are selling without your prior knowledge of their plans
- Your approach to Client Management is Team focused
- Your client considers you a genuine Partner to their business who assists them in the planning and implementation of their objectives
- You view your service for your clients from the outside in
- Your always instructed by your clients for their disposal or acquisition requirements
- You never lose a fee earning opportunity
- Your next generation of Partners/Directors are involved in Key decision making processes
- You know how to attract more of your Key Clients
Featured in Accountancy Age 2017: The Rise of The Progressive Accountant