Relationship-based clients are stickier than you think
Client retention is clearly one of the greatest unknowns within any business. Once you have serviced a client, will they come back? How many times do I need to have serviced a client before I can really call them “my client”? This will obviously be different across various industries. People are perhaps less dedicated to…
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We need to find a way past generational expectations to aid succession
For almost as long as I can remember now, many professional firms throughout Australia, and probably the world, have utilised two primary reasons why their firms have no internal options for succession. These being: 1. The staff have not expressed any interest in becoming equity holders in this firm 2.…
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What our Charge Rates and Salaries survey delivers for your practice
Our Charge Rates & Salaries Surveys give you the very latest data to underpin your review process. Benchmarks are an invaluable tool for REVIEWING and IMPROVING the performance of your practice. It’s immensely important to have the latest market data and commentary at hand to underpin and inform decisions. Why benchmark your salaries and charge…
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Five things to avoid at sale time
Doing the wrong deal is worse than doing no deal. But, getting the right deal takes time. Here are five critical factors to ensure the best result when selling your practice. Don’t wait too long to initiate a transaction. You risk giving the process enough time. We all hear commentators and advisers say, ‘Plan well…
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Good Advice Gives a Superior Outcome
If I had a dollar for everyone who said they wished they had spoken to me prior to the sale of their practice, I would be one wealthy woman. Helping our clients get the best possible outcome is the focus of all our services. And, good advice is the key. I often say when providing…
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Pre-planning to maximise succession value
I recently had to tell an accounting practitioner that the value of their equity within the firm was worth less than ten cents in the dollar. Unsavoury of course, but it needn’t be this way. I advised three options that provided a better outcome. Two of these required additional time pre-transaction. This is essential. Taking…
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Our Firm
Our Firm Rob Knights & Co commenced operation almost 40 years ago under the leadership of Rob Knights. Rob studied accounting, qualifying as a Chartered Accountant in 1971, whilst working in a large firm in Melbourne, which later become part of one of the Big 4. His background was predominently in audit. Our services are…
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What is the purpose of your website?
Now, before I proceed too far into this subject matter, I will preface this with, I am not an expert in this area at all. In fact, we are just undertaking the redevelopment of our own website at present (watch this space) and have been guilty of issues I am about to mention also. That…
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Fixed Fees – how do many firms set them & what are the pitfalls to avoid
This would probably be one of the most common topics that I am asked about, and probably one of the most misunderstood. The whole debate around fixed fees versus hourly charge rates. So, this is what we see. When speaking with practitioners that implement fixed fees, I’ll ask how they arrived at setting the fee.…
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