July 22 Its been quite an extraordinary past few years with Accountants as they, by and large, were: Busy: Before the lockdowns Busier: During the lockdowns Even more busy: After the lockdowns The result: M&A related decision-making has been put on hold….until now. Market Update – The short story: Given Accountants are time poor we … Read more M&A Market Update – Accounting firms
We provide advice to Accountants on all areas of their Practice, but if there is one key element that has the biggest impact on Practices at the moment, it’s your staff! Staff can make or break a business. Great staff will not only change your Practice, but can also change your life – giving you … Read more Post Lockdown Alert – Your Staff!!
Its that time of year to be talking to your clients. You will probably need to talk to most of them at some stage in the near future and we see this as a great opportunity to really understand the status of their business based on what happened last year as well as what is … Read more Why Clients want you to call them?
As we highlighted in our last blog, delegation is a powerful tool in making your practice more efficient and giving you more freedom in your work/life balance. Staff have a huge impact on the value of your practice in many ways and in this issue we explore the areas & effect they have. The Practice’s … Read more The Impact Your Staff have on the Value of Your Practice
Over the next few weeks, we are looking at staff & their impact on you and your practice. In our first part we look at delegation. Delegation is critical to scaling your practice. You, as one person, only have a limited number of hours in the day. The ONLY way to grow beyond your personal … Read more Mastering your Delegation Reservations
We provide advice to Accountants on all areas of their Practice, but if there is one key that has the biggest impact on loving your work, it’s your staff! Staff can make or break a business. Great staff will not only change your Practice, but can also change your life – giving you more time … Read more The important task of finding (& keeping!!) good staff
The basic service for almost all Accounting firms is compliance work. Isn’t that how the profession came about: making sure their numbers are right? Compliance is essential, it’s basic, and most Accountants want to offer more than just the basics. Offering additional financial services gives you numerous advantages; more capacity as work is shared across … Read more Why your Website is like Compliance Accounting
Merry Christmas from the team at Abacus! We hope you will find some time to relax and recharge over the holiday break. Our festive wish is for you to love your work in 2021! Not currently in love with your business? We can help you get there. Abacus provides support in three key areas to … Read more Love Your Work in 2021
Do you love your business? Getting it to a place where you truly love running it might seem impossible, but it’s not. Our mission is to help Practice owners, like yourself, achieve that sweet spot. Our Practice Valuation Reports delve deep into the workings of each unique Accounting business. You’d be amazed at the differences we see … Read more 6 Critical Goals for your Accounting Practice in 2021
Marketing for Accountants 101 Growing your business doesn’t just mean getting new clients. You can also grow your income by expanding the services you offer current clients and ‘upgrading’ them. Email marketing is an efficient and meaningful way to connect clients with service upgrades. Understand your Services Firstly, It’s a great idea to review how you … Read more Email Marketing: Grow your business with current clients
In the Accounting world, client referrals make up the majority of new business, so they are an important part of business growth. Here we explore how to get referrals from existing clients without feeling awkward. We hear some Accountants who say they are too busy to take on new clients but guarantee in most cases … Read more How to Get Referrals from Existing Clients without Really Asking
Does your website contain these five essential elements? Here are a few key features to keep in mind when creating websites for Accountants. Use this list as a starting point for your next website upgrade. 1. Points of Difference The most important objective of your website is to differentiate you from your competition. I constantly … Read more Websites for Accountants: 5 Essential Elements
Unfortunately, many Practice owners leave their exit plans until it is too late to make real ‘plans’. When they keep putting it off, they eventually make a rushed decision to sell, without comparing alternatives. Exiting doesn’t mean ‘Let’s just sell my accounting practice’, there are other options if you plan early enough. While a sale may … Read more Should I Sell My Accounting Practice? 5 Considerations for Succession Planning versus Sale
Now is the time of year that clients expect changes to take place in the level and structure of their Accountant’s fees. According to Good Bad Ugly Insights, the average charge rate or fee increase for this year is 2.3%. Our mission, however, is for you to get the most value out of your business, … Read more Grow your Accounting Business – 5 Steps to Increased Billings (& Happier Accounting Clients!)
Often, businesses will look at their competitors in envy, wondering why they are growing so much faster or appearing so much more successful.While this can come down to a number of factors including reputation, clear communication, or leading business practices, one factor that can have a major impact is marketing spend.You’ll never know exactly how … Read more How much should you spend on Marketing?
The value of a Practice is the price a buyer is prepared to pay for it. Although you may not be looking to exit the industry for some time, highly valued practices are very profitable and attract clients who not only appreciate the advice that they receive from their Accountant, but are also prepared to … Read more 6 Important Considerations when Looking at the Value of Your Practice
Many clients rely completely on their Accountant to assist them with finances. The most helpful advice will come from knowing the business’ real-time situation and from meaningful discussions with the client on a regular basis. This year it’s more important than ever to talk to your clients about their business situation and help them put … Read more 6 Key Points for Tax Planning with Clients
At Abacus we understand the demands that Accountants are facing and are always looking at how best to manage these pressures. With client needs at the highest levels for some time, our conversations with Accountants have revealed some great initiatives and inspiration for getting through this challenging season. We understand you have lots of government … Read more What Efficient Accountants are Doing Right Now
On Monday I spoke to Joss Milner, one of the founders of Cash Flow Story. Cash Flow Story is an easy and practical tool for helping you & your clients gain an insight into how they can manage their cash flow. Given what is happening in the world, Cash Flow Story have just released a … Read more Assisting Your Clients in Times of Need
We met with a client two weeks ago who, late last year, suddenly lost his business partner. It was a sad and unfortunate situation. To make matters more complicated their Shareholders Agreement wasn’t signed. The verbal agreement was long-established and the paperwork had been prepared but they never actually got around to signing it. Now … Read more You need to update your Shareholders or Partnership Agreement
For many Accountants, their primary source of marketing for all clients and potential clients is their website. From your website people get a sense of the type of firm you are and how you compare to others. The problem of relying on nothing but a website becomes twofold when the website its significantly outdated. We … Read more Real vs Perceived view of your Practice