Your Accounting Practice is under threat, but you might not even know it. You might have told your clients’ to “protect your business”, but have you applied the same principles to your own Practice?

If you did a S.W.O.T. Analysis on your Practice right now, what would it look like? The “Threats” would include things like:-
• Changing LegislationProtect your Business
• Political Factors
• Economic Factors
• More “Self Assessment” by Taxpayers
• Flat Rate Taxation
• Competition
You might think “Competition” is the new young aggressive Accountant that has just set up shop in your town.
But there is an even bigger threat that you might not be aware of. They are more dangerous to you than competitors. I call them “predators”. No, they are not the Big 4 International Accounting Firms.
They are the plethora of Business Coaches invading your space. These are the people that you REALLY need to protect your business against. They have no interest in doing boring, compliance type work. They only want the stimulating “sexy” consulting work. But this is exactly the type of work that you should be providing to your clients, and you should be doing it right now.
You have the formal accounting skills, you have the client’s trust, so you should be the first point of contact for “all things business”.
Some of these Business Coaches have paid upwards of $300,000 to buy a franchise. They have been given some marketing training, and they are now actively pursuing clients….. your clients.
Even as you read this, there could be a Business Coach networking with one of your clients at a local business gathering.
Is your client likely to ask you about Business Coaching? NO. For two reasons.
  • Firstly, He may not see it as your area of expertise (you’re the compliance guy),
  • Secondly, the coach has probably pre-empted the client by saying something like “Accountants don’t understand this stuff…”
How would you feel if next year you are preparing your client’s Annual Financial Statements and you charge them $3,000 – $5,000, just like you have for the last few years? But while you are reviewing their information you discover that they have paid $30,000 to a Business Coach since last time you saw them, AND they are singing his praises!
But whose fault is that? That extra $30,000 in fees should have been your income, not the coach’s. They should be singing your praises, not the coach’s. Their successes should be your source of inspiration and satisfaction, not the coach’s.
If only you could get off this compliance treadmill, you would have the time to use these skills you have.

Not so long ago I was struggling with these sorts of issues.
Then I discovered a better way to do things. As a result I was able to morph my “general” Accounting Practice into a “boutique” Accounting Practice.
In the process I have created a Blueprint that you can use to achieve the same massive change.
"I have personally used these techniques to transform $5,000 p.a. clients into $50,000 p.a. clients, and transform $20,000 p.a. clients into $100,000 p.a. clients."
There is no better way to protect your business than this. 
Now you can do the same.
If you want to find out more about this exciting concept, contact me here and I’ll arrange to catch up and have a chat about it.




Leave a Comment

WP-SpamFree by Pole Position Marketing

Previous post:

Next post: