Articles from our Business Experts

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  • 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....
  • 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. The world’s going to change a lot faster than most people do....
  • 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. 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...
  • 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...
  • 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..
  • 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. The missing link is marketing, which, in the words of one bookkeeping firm is “a huge hole...
  • 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. Facebook does it; users can tweak filters to see only the content they want to consume...
  • Chasing New Revenue Streams - Add new revenue streams to your firm or practice! How many time shave you had that headline dumped into your email inbox? It’s the current mantra of vendors, trainers, consultants and, yes, even membership sites and professional associations...
  • Take Off for the Land Grab - Rather than business-as-usual, 2018 is going to see a flight, not to safety, but potentially, to a more fertile land for software providers: the land of the gig economy. This is where the growth is in our broader economy – Uber drivers, food service delivery like Deliveroo, Foodora, Menulog and Uber Eats..
  • Expanding Your Capability - There’s a strong push across accounting and bookkeeping sectors to be more efficient and to increase productivity by using tech tools; that’s perfectly fine. The bigger picture however lies within.....

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  • What is Success? - Be wary of straight line projections for your firm or business as there is seldom a straight line to success. Consider for example start-up founders who, when facing a potential funder, make projections (often) based on an unrealistic percentage growth each year....

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  • Meeting the Challenge - Technical skills need to be augmented and supplemented by what we call by the misnomer ‘soft skills’..
  • Cryptocurrencies: Be Afraid - What is a cryptocurrency and why should we care? Before dismissing it as another fad, consider that Fast Food giant Burger King has partnered with blockchain platform Wave to launch its own crypto-currency in Russia called WhopperCoin...

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  • Why this? Why you? Why now? - A majority of firms who we class as high performing firms (download survey study) target existing customers to upsell higher value or advisory services. It makes intuitive sense because questions asked by a prospect you have not worked will often be focused on the negative.).?....

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  • Partnering for growth - It’s no secret that the majority of entrepreneurs loathe doing their own bookkeeping. And many are wary of DIY software solutions which is why bookkeeping firms exist. But as new generations of people go into business or self-employment, the buyers (business decision-makers) are gaining control over the suppliers (accountants, bookkeepers).?....

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  • Beating Disruption - There are two types of bookkeeping and accounting firms emerging through the fog of disruptive, technology-driven change. One is the cohort of firms which have sat back over the past few years and watched the tsunami effects of change.?....

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  • Ready for the change? - Technology has a habit of changing the way we work; it presents professionals such as accountants, bookkeepers and lawyers with the need to upgrade their knowledge base and skills. Rapid, technology-driven changes require a new understanding of the professional landscape not only to keep abreast with the latest productivity tools but also the opportunities that open up in the sector?....

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