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Your 2025 Resolution Must Be To: Get Digital Advice & Guidance For Your Business

digital advice and guidance concept

The advice affordability problem is well documented: The majority of Australians know they need advice, albeit they have simple requirements given their financial circumstances, but only a small percentage of the population can actually afford to pay for the rising cost of personal comprehensive (multi-topic) advice. So, what’s being done to solve this problem?: Why…

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Strategic Planning for Your Accounting Firm

strategic planning for your accounting firm concept

In today’s fast-evolving accounting industry, driven by technological advancements and generational shifts, staying relevant and competitive requires regular strategic planning for your accounting firm. By continuously assessing and refining your approach, your firm can provide up-to-date services while positioning itself ahead of competitors. The Importance of Flexibility in Strategic Planning Flexibility is key to effective…

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New Year: Time for Client Engagement

client engagement concept

For as long as I’ve been in the accounting profession, most firms I’ve worked with or spoken to acknowledge there are additional services they could provide to meet unmet client needs. In fact, many estimate they could generate 20% more in fees by tapping into these opportunities. Yet, many firms fail to unlock the opportunity.…

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Capacity? What capacity?

capacity concept

In many firms, the challenge continues to attract and retain star performers. Many are struggling to have sufficient capacity to complete their known work in the pipeline, let alone sufficient free resources to develop and deliver new services. Attitudes don’t help, either. I was recently in a firm where the partners were quite proud that…

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The Importance of a Strategic Plan for Accounting Firms

strategic plan concept

In recent weeks, I’ve had the pleasure of connecting with numerous accountants at various events, in particular, the Smithink 2024 Young Guns Workshop on the Gold Coast. One startling observation keeps surfacing: many accounting firms lack a recent strategic plan. Given that these firms help clients navigate their strategic pathways, it’s perplexing that they often…

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Building an Accountability Culture Without the “Baseball Bat”

accountability

Creating a culture of accountability in professional service firms is a significant challenge. Many firms struggle with implementing an effective framework and process for being accountable. Challenges in Accountability A major hurdle is maintaining accountability in director or partner meetings. It’s difficult to hold others accountable when you haven’t fulfilled your own commitments. These meetings…

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Running Effective Advisory Board Meetings: Tips and Best Practices

advisory board meeting concept

What are advisory board meetings? An advisory board meeting is a collaborative and structured gathering where an organisation engages with a group of advisors and stakeholders to seek expert guidance and insights. Running advisory board meetings for clients can be crucial for providing valuable guidance and support to your clients and enhancing the value of…

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Unlock Your Accounting Superpowers

business advice concept

Australia has been in a per capita recession for several months. Some businesses are thriving, while others, particularly those dependent on discretionary spending, are struggling. As accountants, your skills are critical in both scenarios. The Power of 1% Scenario 1 – Your client’s crushing it Your client’s gross and net margins are holding or increasing,…

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Building the Future of the Accounting Profession

Mentorship concept

Mentorship of young professionals is a critical part of accounting firm team development. Mentorship enhances the skills and knowledge of young accountants and fosters a culture of continuous learning and professional development. In this article, we will explore the importance of mentoring, the benefits it brings to both the team members and the firm, and…

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