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Settling for inadequate income

Being self-employed either as a practitioner or business owner can be a trap. Believing that your professional skills are sufficient to earn an adequate income is a dangerous position because it takes more than technical skills to ensure a good income going forward.…

Walking into the unknown

No business owner publicly celebrates the virtues of balancing the books, meeting the obligations of GST, tax and a myriad of other compliance issues. It’s always an uphill struggle for the accounting or bookkeeping professional to elevate their status in the eyes of the client.…

The Elephant in the room

Australian retailers are accelerating their online strategies as Amazon plans its assault on the local retail market. Speak to any retailer and they will tell you that their online sales and offline sales trend lines are going in opposite directions. No surprises here, the five most valuable companies in the word by market capitalisation are Apple, Alphabet (parent co.…

Make Your Firm More Valuable

Are you taking action to make your firm more valuable? And, does it matter anyway? Look for example, at what is happening in the accounting sector: the value of a firm is directly related to the degree to which the firm has adopted technology.…

Discovering Your Mojo

In his talk at the recent Sydney Writers Festival, Thomas Friedman, the Pulitzer Prize-winning author and New York Times columnist, spoke about mindsets and the skills needed in order for people to have successful careers. One essential skill identified is a capacity to think like an entrepreneur.…

The Over-Educated Barista

Many over-educated people are working as baristas because their dream jobs are being automated. Experienced accounting and bookkeeping professionals need to be alert but not alarmed – yet! Proactive responses, such as upskilling, are available to anyone but threats such as technology disruption need practical and timely activity.…

Defend Your Income!

The ‘silver bullet’ for any professional services firm is a regular flow of leads. Few accounting and bookkeeping firms take an ‘active’ role in generating leads; most rely on referrals and organic clientele coming through the door. Unfortunately this is a passive role.…

Rock-star or Business Owner?

Building a profitable practice is the first objective for accounting and bookkeeping practitioners; the problem is many practitioners are treating the practice as a ‘job’ and not a business that is bigger than themselves – even if they have ‘rock star’ status.…

What Do Clients Want

What business owners want from their trusted advisors is very simple: for sure they want the compliance stuff done on time and accurately but what they really want is to run a more successful business. As the ‘first response’ trusted advisor the bookkeeper is well placed to offer support but this require having the right tools.…

The Goldilocks Approach

Many bookkeeping firms still face an uphill battle when it comes to pricing their services. Indeed, in our survey of owners of bookkeeping firms conducted in April this year we found that 47 percent were yielding less than $60 an hour after allowing for scope creep and other non-billable activity.…