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Practice Gurus

20th Jul 2022
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From more or less day one of going on my own, I mistrust practice gurus/advisors. I include in this category, practice owners who are either in practice or those who left their practice and have set up as advisory service providers.  Also, Sift’s go-to practice owners/advisors for webinars and articles. 

The questions in my mind are as follows:

  • Why are they doing this? 
     
  • Where is their track record of success beyond their own puff?
     
  • If they are, as they claim, so successful in running their own practice, why do they do not find more success by doing what they claim they are good at? Why do they spend their valuable time advising their competitors?
     
  • What makes them think they are able to advise other accountants?

Accountants are professional and in the main have the training and experience beyond the obvious advice that is dished out. You have to bear in mind, that they would be no real information of value that is provided by those in practice and acting as advisers as well. They would not want to give away their competitive advantage. 

The information provided as advice is just too general to be of any use. It is the detail that is intentionally left out. 

Unique 

The experiences we go through tend to be unique. It would depend on the client, staff and circumstances. Following their advice on our unique circumstances and our character would be like fitting a square peg in a round hole. It would not work. 

I would argue, that the vast majority of us know what to do to take our practice where we want to be. Some do not have the confidence to take the action, others may not have the discipline to take the actions needed. Some just do not have the detailed information that is needed on the how. 

Me

I know my weakness and I also know how I can address them. I would argue the same applies to you. 

I do not want to listen to a bunch of advisors telling me what I need to do. It does not mean, I do not have people to whom I listen to. I have, they are a small number, who I have checked out and respect.   

You

Do you listen to Practice Gurus? What is that you lack, that you think they provide? 

Please bear in mind it is never about you. It is all about them. 

Off-Topic

This blog makes my total number of blogs on AW 500. Wow! Another 500 to come, folks. I miss the click count on blogs Sift. This way at least I have some idea of numbers reading my blogs. Only you know.   

 

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By indomitable
22nd Jul 2022 12:13

Absolutely in agreement with this!

Why would any successful practice owner decide they will drop what they were doing and teach the competition to be better?

I too get advice, but it's on marketing - one thing most of us accountants are quite poor at

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