Business Management
SMSF Clients – How will your Firm Address this Need Moving Forward?
From time to time we have received enquiries from parties interested in purchasing SMSF audits as well as the compliance work associated with SMSFs. It has always kind of intrigued me what that conversation would tend to look like with clients, and furthermore, what the benefit would be for the firms, other than the sales…
Read MorePersonnel Problems
In short, there is something funky happening in respect of accounting personnel and all firms should be wary. We appreciate staff, good staff, are never easy to come by, especially in regional centres, although perhaps with the pandemic we have had some reprieve from the significant need to recruit. That said, since around October last…
Read MoreLocation, Location, Location, is this as Important Anymore?
For many many years, professional firms have generally been quite selective about where their offices have been located. The quality of a firm’s office was thought to contribute to their brand, professionalism, image and the like. For the big end of town, this is particularly so, often locating their offices in the biggest and best…
Read MoreRelationship-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…
Read MoreThe Importance of Maintaining Your Average Earn Rate
The Importance of Maintaining Your Average Earn Rate Pleasingly we have found the continued rise of earn rates within accounting firms throughout Australia. Not too long along such rates would be $100 per hour, $120 per hour, $150 per hour, however depending on the firm’s location, size, services, types of clients and staff, current values…
Read MoreIs Working with Family Really Such a Great Idea
Is Working with Family Really Such a Great Idea Such a thought is quite interesting when considered in the context of various types of businesses. Often it is the desire of the senior family members to pass on their business, or the baton so to speak, to their children or even their grandchildren. When speaking…
Read MoreNot All Publicity is Good Publicity
Not All Publicity is Good Publicity Positive publicity about a firm or its representatives can be a wonderful and genuinely beneficial thing. Conversely, negative publicity can be quite damaging and limiting to a professional firm in terms for new referrals, growth opportunities, staff attraction and retention as well as so many other ways. The difficulty…
Read MoreTiming Your Exit to Maximise Your Sale Price
Timing Your Exit to Maximise Your Sale Price We recently completed a round of Boardroom Briefings where one of the sessions was on how to maximise the sale price of your practice. We felt this was a useful topic because we see so many vendors that could have achieved a better price than they did…
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