Articles from our Business Experts

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  • 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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  • Settling for inadequate income - Being self-employed either as a practitioner or business owner can be 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?....

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  • 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....

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  • 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...

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