Have you done enough to prepare your accountancy firm for a radically different 2018?
In the next 12 months you must prepare to abandon your obsession with annual accounts.
Quarterly reporting will soon replace annual accounts as the dominant source of revenue and profits for your firm, for every firm.
What do you think?
Massive fee and profit possibilities…
Yes, annual accounts will still be required but they’ll naturally flow off your quarterly reporting service for your business-owner clients – four accurate quarterly financial reports will make producing annual accounts relatively quick and easy.
The fees that flow off a quarterly reporting approach are significant. The production efficiencies that you gain from a quarterly reporting approach also mean a significant uplift in profits too. If you get your pricing and production processes right.
Research from Australia shows how some firms grow compliance revenues AND grow advisory revenues more – partly because they have a cloud accounting quarterly reporting commitment. Won’t the same happen here?
You can grow fees too, but only if you establish a quarterly reporting obsession in 2018.
So, do you need to be better prepared for this radical change?
Could you do with some ideas, inspiration and practical next steps to help?
Easy next step…
Paul is doing what he can to create a healthy debate around these key issues.
To help, Paul is presenting at the following events in the coming weeks – why not come and join the debate, be inspired and walk away with some practical next steps too?
Peak Performance Conference, Birmingham on Feb 7th
QuickBooks Connect, London on Feb 28th
Accountex North, Manchester on March 6th
IMPORTANT: QuickBooks Connect is a two-day event 27th and 28th February – Paul is speaking on the 28th February only.
One more: I was meant to participate in one other event, but holiday got in the way. However, you should also consider joining my friend Steve Pipe and a host of speakers in a TED talk style event in London on February 26th. This not-for-profit event will be crammed with insightful, practical and valuable business insights for you and your firm.
Want to know more? Then check out Steve’s one-page event page and a very brief commentary from Steve here - https://www.useloom.com/share/9bfe811faa6d4dce9bb49c3326110859
Need more convincing?
We realise it can be a big decision to leave your firm for a day and attend an event.
But simply dealing with the day-to-day challenges will not get you, your team or your firm in the right state of mind for the unavoidable changes ahead.
A ‘steady-as-she-goes’ strategy will no longer secure your firm’s fees, profits or capital value. So, step outside your firm and attend one or more of these events and prepare your firm for a brighter and more secure future.
What an opportunity you have…
PS If, in 2018, you only do what you’ve always done you will unhinge your firm’s fees, profits and capital value. Sounds melodramatic and a bit ‘scare-mongery’ I know, but the amount of change and the rate of change that’s flooding the accountancy profession requires new thinking, new ideas and real change. Get to an event and start to think differently in Feb and March.