Today marks the 8th Anniversary of my current business. It started in my home study in November 2005. In the first month I did the grand sum of $2k in revenue! I have made a profit every year since inception – so pretty happy about that.
What started out as humble beginnings with no clients now we have clients in 40 countries (served by 20 team members in 4 locations) and have interacted with thousands of Accounting firms along the way. Providing a whole range of coaching, training, information products, online tools and software applications.
It’s been an exciting 8 years (and not all plain sailing) and I want to thank all the suppliers, team members, alliances, supporters and especially the clients for accepting the (sometimes) whacky ideas, the prodding the cajoling and the information we put forth. Happy Birthday to us – here’s to the next 8 and more!
If your total number of days in lock-up, being your combined work-in-progress and receivables balances, is more than 40 days in total, your workflow process is not as effective as it should be. More than 1000 Accounting firms that we have worked with, have less than 40 days in lock-up, our top accounting firms have less than 10! How do they achieve this?
By implementing the ProClient Workflow System via the 90 Day Accountants Challenge.
What will the challenge enable me to do?
There are 3 key steps to helping any size Accounting firm to grow revenue and profits.
- Get better with what you’ve got — workflow, WIP, receivables etc
- Get capacity — people structure, equipment & policies.
- Get active with marketing & sales techniques — using value pricing with new services.
This challenge focuses on the first and second one. The objective is get maximum efficiencies in your firm over a 90 day period. By participating in the challenge you will Dramatically reduce WIP, turnaround time and reduce your accounts receivable balances.
What is the Outcome of the challenge?
If you implement what you have learned from the challenge you will drive time down on client jobs by becoming more efficient and still maintaining quality control and have happy clients.
You will receive also practical tips and insights on how to:
- Increase Revenue
- Offer Value Added Services
- Create Efficiency
- Streamline Workflow
- Reduce turnaround time to circa 10 days
- Reduce WIP balances to circa 10 days or less
- Reduce Receivables balances to circa 30 days or less
This is guided coaching program over 90 days. It starts on November 1 and ends on Jan 31. Every “challenger” starts together and ends together. Along the way you’ll have access to our online tools, online learning centre, success library and our coaching team. We’ll measure your results before, during and after – keeping you accountable along the way. We have 441 signed up already. More information and sign up process can be accessed from this website.
I have a number of offerings coming up which Accountants may be interested in.
Remaining Relevant – Webinar. On May 7 Russell Evans (CEO of CCH, Asia Pacific) and myself are hosting a free Webinar on the future of professional services and the role of cloud technology. Register for free here.
Remaining Relevant – seminar tour. Coming to a location near you – if you live in Australia! Back by popular demand my hard hitting, pragmatic and practical seminar. Bring your entire team and make it your annual planning session. 13 locations around Australia. Cheap tickets in April. For more information click here.
Delivering Value Added Services – workshop. My very talented business partner, Colin Dunn is delivering a 2 day event on how you can deliver value added services to your clients. July 2 & 3 in Brisbane. A must for firms who want to deliver new services to clients. Click here for info.
Kickstart – 2 day business planning workshop. This is one of our flagship events were you walk away with a one page business plan, strategic direction and action list on achieving your plan. We do 16 firms at a time. Awesome couple of days. So far over 250 firms have gone through it. May 6 & 7, 27 & 28 and June 13 & 14. More information.
ProClient membership service. For Accountants all over the world. Gain access to our world class, technology, content and tools. 14 day free trial. One Accountant in North Carolina (Steve Moss) used the program and generated $120,000 in new business from one client. Just by using one module of the program. Free trial.
coachingclub. The most pragmatic, useful and results driven program in the world. 8 firms at a time in the one group. face to face coaching that keeps firms accountable whilst they learn new ideas and share wins and losses. Make an enquiry and see if it is for you.
This Saturday I am abseiling off a 36 story building for charity. I have sky dived, bungy jumped and if you are a regular reader of my blog you’ll know I am off to space – but never abseiled off a 135M building!
This will be awesome. The charity is Save the Children – they do awesome work for 0-8 year olds and have been operating for 50+ years.
I need to raise some money so I get a harness. If I raise enough I get a rope & helmet.
Jokes aside. It would be great if you could donate a few dollars so I can be on my way safely and the kids get a great experience. It’s all tax deductible. You can donate here. Thank you for your support. The video below shows my jump/fall/abseil!
In today’s Australian Financial Review, Accounting journalist Agnes King puts forth an argument that (first line) “Accounting firms have no business being on social media”.
She continues “Honestly, what do social media campaigns actually offer the clients of accounting firms? They might be a cheap way to distribute monthly newsletters but that’s hardly revolutionary.”
C’mon Agnes – get with the times!
That is like saying that in the 80′s Accountants should not have a fax machine, in the 90′s they should have not had a computer on every desk and in the naughties every person in an Accounting firm need not have a website or individual email address!
We’re in the social & community re-building age – every firm needs a social media strategy and every firm needs to embrace it.
The esteemed (and very one sided in this matter) journalist continues:
“Most accounting firms profess an increased investment in social media. When pressed, however, they’re just as likely to admit they don’t understand it. But they also know they can’t ignore it. Admitting this seems to be a horrifying sign of weakness. The sooner they get over this notion, the better for all concerned as they can start focusing on the value again. Don’t ignore social media but consider it a research and development exercise until it proves itself to be something more”.
Research and Development – is that it? It will be something more if firms want to make it something more.
I thought journalists were not supposed to have an opinion. Weren’t they supposed to give a balanced view of the subject at hand?
Her argument is fundamentally flawed because she does not understand how these new communication tools can enhance the relationship between Accountant and business client.
If the Accountants of this world are supposed to be the ‘trusted adviser’ and their clients look up to them for leading business advice then surely this medium is a way to distribute information and enhance the experience of dealing with the firm.
Surely a sign of ‘being modern’ and ‘keeping up with the times’ is that leading firms MUST have a social media presence & active and ever evolving presence.
The social presence must add value to clients otherwise it will be like the first ‘static’ websites of old where it was an online brochure with 10 year old pictures of the partners!
The beauty of a social presence is it is alive, interactive and very easy to use.
Here’s an example (and a cracking idea if I do say so myself):
Just imagine if a Proactive firm (one of my members perhaps!) started a ‘closed’ or ‘private’ group on LinkedIn or Facebook. They invited all of their clients to participate. Their employees participated as well and the Accounting firm lead discussions about topics. They started a ‘forum’ just for their firm where they brought their clients together. They stimulated clients thinking by offering case studies, testimonials, wins, content, discussion and tools. They updated everything through the closed group. The firm’s clients could do business with each other and interact with the people in the firm more. They could even offer ‘concierge’ service – connecting people to other people.
All this can be done for free right now.
It’s about building a community. Standard communities are deteriorating around the world due to media hyping up the next killing/abduction/robbery or car crash. The media has driven fear into the local community of old with their sensationalism, insinuation (it’s not safe to go outside kids) and negative driven news service. Just watch the news at 6pm tonight, or read tomorrows paper and count the negative to positive ratio of stories!
Social media used properly can re-build communities. They’re just different communities – a place where people feel like they belong.
On a final note. No one deals with a business, we all deal with people. It’s not business to business – it’s people to people. I do not deal with the Accounting firm because of their offices, pretty logo or brochure. I deal with the people in the Accounting firm – just as they deal with the people in my business.
Social media platforms are about bringing people together. To share, debate, exchange, inspire & communicate. Period.