So, will AI be the end of the world (or at least the accounting profession)?
You’d have to be a hermit without an internet connection to have missed all the noise being made about ChatGPT and other AI bots. In some people’s minds, they are harbingers of the end of the world. They are certainly interesting. It is that interest that has seen the fastest take-up of a technology in…Read More
Leading the new generation of accountants
This month we are looking at something a bit different. I have asked my daughter Jessica (Jess) Holton, a 34-year-old skilled graduate journalist working in digital media and fiercely independent, as only a father would know, to comment on the new generation of employees, particularly in the accounting industry, and how to manage them. Here…Read More
Insight from your peers
One of the challenges when running your own business is that it can be a lonely place. You’re making decisions based on your own experience and those of your partners if you’re in partnership. The insights and decisions you make can be self-reinforcing as they’re based on what is already happening and past experience in…Read More
How to get started with marketing in your accounting firm.
Fairly regularly I come across firms who for one reason or another have engaged a marketing consultancy. For many, this is entirely the wrong move. Few marketing consultancies understand the nuances of professional service firms. Many focus on things which might have some merit like brand and website but miss the core matters to be…Read More
Are You Targeting Your Ideal Client?
I have long spoken to many accounting firm partners and team members about defining and agreeing on their ideal client profile. In my mind, an ideal client is someone who finds the perfect solution to their problems or needs in the services that your firm provides. The ideal client will be loyal to your firm,…Read More
Helping those that need it most
In a recently published survey conducted in the US by research house Greenwald Research on behalf of Edelman Financial Engines, there were some interesting insights regarding consumer attitudes to financial advice. I suspect that the results in Australia would be very similar. The survey sampled “affluent” Americans defined as being 45 to 70 with household…Read More
Staff Impact on Succession Planning
Many accounting practitioners would agree that it is becoming increasingly difficult to attract and retain good staff that can assist not only in compliance procession but also in business advisory service delivery. There is increased reporting on the skills shortage in various industries and there are no immediate signs that this is going to change.…Read More
We need a mental health plan
At our recent Young Guns event, we invited Petris Lapis (www.artisanofchange.com) to talk about Mental Health in accounting firms. For us older practitioners, this is quite a different world from the world we grew up in and established our careers. Mental health was not something that was really discussed. It was like there was a…Read More
BDMs hiding in your midst
The concept of a team of business development managers running around knocking on doors to sell your firm’s services would be an anathema to most firm owners. We all also know that most new business in most firms, comes from referrals and personal relationships. Increasingly, some are having some success with digital marketing but for…Read More
Harnessing the power of marketing data for your clients
As a financial advisor, you understand the importance of using data to guide the strategic direction of your clients’ businesses. Where traditionally this may have been limited to utilising certain data sets, some of Australia’s leading financial firms are now harnessing the power of marketing data to assist their clients even further. This shift has…Read More