Posts by marvin

Remember the 1980s? Greed was good. Until Paul Keating killed it – it was the era of the long lunch. Technology’s relentless march gained momentum with computerised tax returns and other marvels changing the accounting industry forever. It was also the end of the 100% loanback superannuation fund. Money needed to be invested. Financial planning was emerging…

This has been a key question I’ve discussed with clients in 2018, and in most cases the response is the latter. It might be due to inherent humility, but it’s common across all ages and demographics. It may be subliminal – but in the workplace, we are constantly public speaking and communicating. However, a large…

One key question I seem to get asked regularly is; what’s wrong with being a compliance practice and why should I add new services when we are already flat out? Both good questions with limited growth potential. Let’s consider a few key points. Less billable hours & increased competition While compliance has been the main…

1. Know how to explain simply to clients the products and services your firm offers. Understand both the features and benefits of each product and service from the client’s perspective. 2. Develop your staff’s soft skills in particular basic selling skills. Give them the skills to ask the right questions, handle objections and introduce and…

Well the results are in. We have now completed our technology survey for the 8th year in a row. Some results are predictable such as the dominance of Windows 10 and the rise of Office 365. Some results are encouraging such as the significant increase in adoption by accountants of security measures. Adoption rates for…

Business Valuation is always a hot topic of conversation at accounting events particularly business advisory conferences. However moving away from the reactive side of valuations (business restructuring, tax reasons, court cases, mergers and acquisitions) is critical to developing a powerful advisory service. The value understanding that is what drives the value of the business is…

With the government’s plan to reduce the audit requirements for squeaky clean SMSFs from an annual audit to an audit every three years, perhaps it is time to ponder your strategy regarding SMSF audit. Whether you agree with the proposed change or not isn’t really the issue. It’s more about what should be your strategy…

At some time in the future of every accounting firm, we need to think how we will we get the message out there to the masses about our unique service offering. Practising with select existing clients is a great way to refine your advisory services, however, it is a slow growth strategy. Conducting a one-hour…

They say a picture tells a thousand words. On a website where you only have a matter of moments to engage the visitor it is even more important to use multimedia that engages, conveys a clear message and grabs the emotions. We all know that around 95% of new business comes from referrals but did…

Aren’t there a lot of Business Advisory solutions coming out of the woodwork? My email has been inundated with them of late. I am sure you are the same! Many have multiple disturbance messages like… “Compliance is dying; profit will be more difficult to maintain in the future; get your clients onto the cloud or…