Why do accountancy partners ignore the BFO?

Why do accountancy partners ignore the BFO?

Too often, it seems, am I involved in discussions where the managing partner - sometimes several partners at the same time - experience a BFO.

A Blinding Flash of the Obvious.

Just this afternoon I have reviewed a firms KPI performance and quickly identified one big simple fix. A fix which will help them realise more profit in the next 6 months than they have in the last 12 months. (NB I'm not bragging just want to make an important point.)

In this case it revolved around changing their pricing model with their team, and implementng it immediately for really big gains. I left this managing partner wondering how he had missed such an obvious thing and why on earth he needs me to point it out and make him look a little foolish (not my intention by the way).

The answer to this conundrum is this:

"We all need an outsider looking in at our business to point out the blatantly obvious. Mainly becuse we can't see the wood for the trees. Mainly because we are too busy being busy."

I'm the same. Which is why I have two people grill me 7 times a year to help ensure I am on track.

Intellectually you know this makes sense. So why don't more managing partners (you!?) make this happen - even though you'll happily recommend this process to your clients?

Is it "Because BFO' should be obvious"?

Thing is they are not obvious until some awkward outsider points it out.

Why don't you have an outsider prod and poke around your KPI's to help you find your VALUABLE BFO's? You too might see the wood for the trees and have your very own BFO and improve your profitability.

Paul Shrimpling
www.remarkablepractice.com