This year I am embarking on my 20th year working ‘on’ the Accounting profession. In that time I have influenced Accountants in 38 countries, had over 85,000 Accountants attend seminars / webinars and personally coached over 500 firms to success.

Although not an Accountant, for nearly 20 years of my professional life has been about Accountants and their success. I started working with Accountants when I was 24 (yes, I know I look younger than that!) and have loved every minute of it.

Some people like science or making things. I like Accountants. In fact I love Accountants!

Accountants can offer so much value to their client base and therefore their community. They are an integral part of the success of business. They are the natural business leader and the true trusted advisor.

They offer an immense amount of value to their clients and they are seriously smart. Yet, they don’t make much money!

If profit per partner is one measure of success then only 2.5% of the profession is earning more than $1M per partner. Most partners of accounting firms make around $350,000 per year. I think it’s a paltry sum for the contribution they make.

The problem is their self-esteem and the business model that they operate under. My business is the Proactive Accountants Network and through our membership and coaching program we help Accountants to:

 Maximise their cashflow
 Run a more efficient business
 Increase profitability
 Utilize their team better
 Delight clients with value added work
 Work less hours
 Grow their revenue & wealth
 Live a better lifestyle

This video series is a ‘secrets revealed’ report focusing on how to revolutionise the financial performance of an Accounting firm. It’s based entirely on what our ultra-high performing firms are doing to achieve success and revolutionary financial performance. As you’ll discover, I do not pull any punches – I just tell it the way it is.

Enjoy getting focused on revolutionising your revenue, profit and cash!

Check back here often for each installment or sign up for RSS feed so you are notified immediately.

Here is video # 1 – enjoy.

Why do you lose a client and why do you win a client?

The answer is the same. I am talking to business people and Accountants every day and the answer is one or both of these:

  1. Service. Customer service,  limited relationship, rude, not proactive, not returning calls/emails/correspondence, no love, no phone calls, visits etc
  2. Services. Range of services, value for money, didn’t know how much it was going to cost, don’t know what it all means, I need more help etc

They are the same 2 reasons they leave you. Just ask the next one that leaves. Or ask the next new one you got – “why did you leave your current Accountant?”

If they say “they are too expensive.” That is not the real answer. The real answer is “they did not value add to what I am already paying”.

You can stop the bleed by focusing on service and services. You can gain new clients by being an ace at service and services. At the end of the day your clients do not know if you are a good Accountant or not. They just know if they know you, like you and trust you!

Accountants are notorious for it. Discounting before sending the bill out. Commonly called a “write down”. Why oh why does this happen? Are you not proud of your product? Do you not have the guts to face the client and tell them the price? Do you not believe your team did a good job?

Some firms are great at doing this particular activity. I was in a firm once and they had $2.7M in write downs. To make a point I found a picture of a house worth $2.7M and then said that if they burnt it to the ground it would be more fun. Get a slab of beer, sit around and watch it burn baby. That’s effectively what this firm was doing.

What are you burning each year? A house? An apartment? A luxury car? Or even a motor bike? That’s gotta hurt!

House

Burning house

If you follow any of my material you will know that my preferred model is to give the client a price before you start the work. The have an hours budget on each job and drive the time down. In that case you get a ‘write up’ in most occasions.

If you are not pricing up front then you better not be ‘writing down’ the work at the time of billing. It’s just waste, loss of income and it says that you do not value what you do. STOP IT.

The other day I was in a retailer and they gave me a discount without even asking for it. I wonder if their Accountant advised them to do that because that is what they do!!!