Move up in 2014: New practice profitability guide

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Some of the biggest names in the profession have come together to reveal their top tips and hands on advice to growing a more profitable practice.

Over the years on AccountingWEB we’ve seen there’s no secret formula to becoming more profitable, but a good starting point is learning from those who have had success.

For the inaugural Practice Profitability Guide (PPG) we’ve got practice gurus Steve Pipe, Mark Lee, Jon Baker and Heather Townsend giving their insight into developing a more agile and profitable practice.

Alongside these towering figures of the profession, the AccountingWEB team and regular contributors Nigel Harris and Richard Sergeant share their combined knowledge on how to get on the path to excellence.

Topics covered off in the new PDF guide include marketing, how to sell, technology and outsourcing to make your practice run more smoothly, but perhaps the most important takeaway is how to come up with a strategy and make incremental changes on the road to success.

By reading the chapters of this guide you’ll find it’s all about making small improvements and coming up with a structured approach to fostering change and opening up profit bottlenecks.

Whether you want to expand your services or segment your clients, this guide will help you introduce new accounting services like benchmarking, cashflow forecasting, marketing and strategic advice to increase productivity, stimulate growth and maximise profits for you and your clients.

Accountants can exploit their “trusted adviser” status to broaden offerings and become indispensable to clients in new ways such as management accounting, wealth advice, succession planning, business growth and technology advice.

The new guide presents short, well argued articles from some of the leading thinkers in practice development, backed with simple, practical suggestions that you can put to work right away in your firm.

Many of the examples and ideas in the PPG have proved successful with accounting firms taking part in AccountingWEB’s Practice Excellence Programme.

This brings together clients satisfaction surveys, the Practice Excellence Awards and a conference taking place in November.

Sign up to the programme by visiting the Practice Excellence Programme website.

Download the Practice Profitability Guide now.

About Robert Lovell

Business and finance journalist


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    By nealb
    06th Jun 2014 00:12


    Generally, some good stuff especially Heather Townsend & Jon Baker's piece on the profitable practice.

    I was interested at the suggestion in Nigel Harris' piece to "seek referrals from a practice support organisation such as 2020 Group or AVN" about providers of services.

    If these "referrals" are based on financial reward what is the value of the referral?  Surely they should say we know all of these are good suppliers (and list them all), but these are the ones paying us, so we're recommending them! 

    Possibly too much to ask?  Probably!


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