2017, what a year!
Before we look ahead at what 2018 might hold for us, it’s important to sit down and review what worked well in the last 12 months.
So, with that in mind, here are 7 of my most read posts from 2017 to help you on your journey of building a highly profitable accountancy practice:
We are in the midst of rapid technological change.
And this change represents both a threat to accountancy practices and a great opportunity.
By implementing the right technology into your accountancy practice, you can:
- Strengthen your position for the future. The ones who don’t adapt won’t survive.
- Increase the efficiency and profitability of your practice.
- Position yourself as less of an accountant, and more of a trusted advisor.
Here are 5 key pieces of software you should consider implementing in your practice for 2017 and beyond…
Earlier in the year I was speaking with the Partner of an accountancy practice based in Middlesex.
Their practice was growing well, and they told me about the success they’d been having using Google Adwords to drive qualified leads into their practice.
(In a nutshell, Google Adwords allows you to attract and target qualified prospects who are actually searching for your services)
It wasn’t always like this for them though…
It took them nearly 12 months of trial and error to figure out how to get Google Adwords working for their practice, and more importantly, how to get enough ROI to make it a worthwhile investment.
You see, when used incorrectly, Google Adwords can be a potential landmine that bleeds you money, and yields little to no results.
However, when used correctly, it can be a potential goldmine, and a great source of qualified leads for your practice.
Here are 4 tips to help you avoid the landmines, and strike gold with your AdWords campaigns…
Historically, timesheets come part-and-parcel with accountancy practices and other professional firms, where they’re mostly used as part of the billing and invoicing process.
While this is still common practice for many practices, it doesn’t come without its issues.
With all the changes and challenges facing accountancy practices in 2017 and beyond, if practices want to thrive (not just survive), then they should stop using timesheets for billing and start using them as a tool to improve their profitability…
4. [FREE INFOGRAPHIC] Future-Proof Your Practice By Serving Your Client’s Entire ‘Financial Welfare’
It’s no longer enough for accountants to just offer ‘basic’ accountancy services…
As advances in technology continue to make compliance tasks more efficient (and in some cases completely automated), demand for these services is decreasing and price competition is increasing.
With the gains in efficiency, and the ability to access real-time financial data, you have a once-in-a-lifetime opportunity…
And that opportunity is to devote your time and expertise on advising your clients on the best course of action for both their business and personal lives.
The opportunity is to serve your clients entire financial welfare…
This article is not about the technicalities of what MTD may or may not involve.
It’s about you making a decision… And that’s a decision to sink or swim.
So, you have a choice to make…
- You can choose to roll over, succumb to the growing pressures of the industry, scale down your practice, gradually being out-competed by the practices of 2017 and beyond, OR
- You can choose to embrace these changes and act now!
There’s a line in the sand, don’t read on any further until that decision has been made.
Making Tax Digital will have a number of implications for the way you run your practice and the way you serve your clients.
And if you want to make a success of it, then there are a couple of points that need to be considered.
Here are 4 things that you need to consider in your practice right now…
Workflow seems to be a hot topic in the accountancy world right now…
And more specifically, workflow software.
Workflow software not only puts you in complete control and gives you a clear picture of exactly what’s going on, it also allows you and your team to work together in a much more collaborative way.
And when this happens, your efficiency and profitability will increase, and you can scale your practice much more.
The likes of Xero Practice Manager and IRIS Practice Management offer some solutions to the workflow needs of modern day accountancy practices, but what they lack is a specialism…
Here are 8 ‘specialist’ workflow software providers (in no particular order) that can make your practice more efficient, more profitable and more scalable…
Every month as part of my BlackBelt coaching programme I run a private training webinar for my clients called a ‘Spotlight Session’.
The purpose of the call is simple, to put somebody or something (related to the accountancy industry) in the spotlight, so that my clients can learn from them & implement in their practices.
Last month, our session was all about Bookkeeping services, and I decided to put together an ‘expert panel’ and interview 3 of my bookkeeping-only clients about how they have mastered bookkeeping and made it extremely profitable.
The following article is a brief summary of some of the points that were covered in the call…
What can you expect in 2018?
In 2018, I’m going to ramp things up to provide you even more value on an even more regular basis.
Instead of new content weekly, I’m going to be bring out 3 new pieces of content every week:
- 1 x piece of original content
- 1 x case study of something that’s working for my clients right now
- 1 x guest post from somebody else in the industry with something interesting to say
On top of that, I’ll be running monthly training webinars as well as my quarterly intensive seminars (you can find out more about those here).
What are your plans for 2018? What do you want to achieve?
Let me know below…