Category Archives: Articles

The Robo Bookkeeper

The World Economic Forum is a lofty and important gathering intent on “improving the state of the world”. It also points us to the skills required in 2022 that render some skills as declining and others growing in demand. Sadly, skills for precision, manual bookkeeping and accounting are declining while others such as “analytical and critical thinking and analysis” are increasing in demand.…

Are You Ready for the 4th Industrial Revolution?

Australians now spend about half a day each week doing different tasks than someone with the same job five years ago, according to a recent research study. And that is an average with some sectors, like accounting and bookkeeping, at the extreme side of this trend.…

Exiting Old Habits

There are powerful forces at play in the accounting software sector; they will affect all accounting and bookkeeping professionals. Old work practices and traditional ‘tools’ of the trade are being relegated to the dustbins. Readers of the financial pages of newspapers offline and online will note the massive corporate activity being played out on the stock exchange with takeover plays for MYOB and turbo-charged valuations for Xero.…

Your price: your value

Inside every premium-priced firm is a speciality that enables that firm to charge well above average prices. The comparison with other trades and professions informs us. Plumbers who specialise in high pressure waste systems earn multiple times the hourly rate of your dripping tap/leaking cistern variety of plumber.…

Moving out of your comfort zone

Business is about people, it’s about interacting, and it’s about giving yourself to these people, comfortable and confident to do something with you. That’s a sales skill and that will not sit well with many accounting and bookkeeping professionals.

Develop that personal relationship; it could lead to higher value services.…

Are you running a successful bookkeeping business

Bookkeeping principles are timeless. But what clients are looking for has changed due to automation. This puts pressure on bookkeepers to provide higher value services as business owners have expectation that compliance work can be automated – cheaply.Your job until recently may been to fix the books for quarterly and yearly returns; your new job description might look like: being there to help your clients stay in business.…

Beating Automation: Marketing!

Automation (AI) will displace jobs in the accounting and bookkeeping sector; sadly our education system (including Certificate IV and legacy commerce degrees) can’t teach everyone to be smarter than robots when it comes to replicable activities. Yet, people, not machines, will always remain the trusted advisors for business owners.…

How much is your self worth?

Linking money and self-worth is a fundamentally flawed concept, but the fact remains that many, many professionals do not give themselves permission to value their time at anywhere near the rate that would be commensurate with the kind of training and experience they bring to the table.…

The Art of the Upsell

Accounting and bookkeeping professionals as well as lawyers have great difficulty identifying themselves as sales people. “It’s not professional to sell to your client” is a constant refrain. Yet, in the real world new customers and clients need to be ‘sold’ on using your services.…

Menu pricing: does it work

Adam Smith, the father of economics, believed that economic progress was most possible by the division of labor into specialist groups. That an organization could be hugely more efficient by breaking down production processes into many small tasks, performed by specialists.…