Practice Paradox

Is Your Accounting Firm A Dinosaur?

How to be a dinosaur:

• Hire accountants based solely on their technical skills
• Put Grinders in front of clients
• Fail to balance your team with Minders and Finders
• Ignore that the Grinding skillset is being commoditised
• Ignore the global out-sourcing phenomenon
• Ignore (or be slow to embrace) cloud computing
• Do only what clients ask
• Be afraid to suggest additional services to clients
• Assume your clients know about your optional services
• Remain ‘sensible and corporate’ with your marketing
• Think your business is about ‘crunching numbers’
• Think that being a ‘trusted advisor’ is enough to succeed
• Accept a wide variety of client types
• Try to be all things to all people
• Price based on time taken to complete a job
• Continue to ignore the importance of design
• Let clients use whatever accounting system they choose
• Fail to invest in marketing as a core competence
• Think your clients purchase based on facts
• Fail to take steps to improve your communication skills
• Ignore the client experience your firm delivers

Firms that do the opposite of the above are a joy to behold.

And they love what they do.

So do their clients.