Mark Telford
Member Since: 30th May 2018
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Building Better Practices and Lifestyles for Ambitious Accountants - Coach | Accountant | Xero MVP 2018
I help accountants to build better practices.
To run the practice they want, the way they want.
Focus on what it is you want personally – enough money to enjoy the lifestyle you want, enough time to do the things with people that you care about and to be less stressed. Work out your personal goals and then put a plan in place to achieve those goals using your business to help you get there.
Running my own successful accountancy practice means I see the real issues facing accountants on a daily basis. Working too many hours, too much inefficiency, poor pricing, not attracting the right clients, not converting clients, not having the right team, not having a plan to address it all and get them back on track.
I’m able to provide practical coaching, advice and support based on real life experiences I’ve faced. I won’t try and sell a solution that hasn’t either worked for me or worked for another client.
It’s your business – you decide how to run it on your terms.
Alongside this I run an award-winning accountancy practice that works with ambitious business owners to help them achieve their goals.
The approach is the same help them achieve money, time and mind freedom.
Earn enough to enjoy the lifestyle they want, have enough time to spend it doing the things they want and having peace of mind through knowing their accounts and taxes are being dealt with.
Director Telfords Chartered Accountants
My answers
Always greeted you with a smile.
Huge shock to hear this today.
A tough day for all his friends and family.
I'm not surprised that many sellers are in their 70's (or 60's) as for most small practice owners an early sale just doesn't stack up. Its certainly not a life-changing financial windfall.
Practice with £240k GRF, owner earning £80k
Valued at 1x GRF, sale is only worth 3 years income (4ish if you factor in tax).
I'd rather carry on working a bit longer, reduced hours, enjoying extra free time, while still keeping the brain engaged.
For those interested in seeing some of the excuses these tech business advocates come up with for why profitability is 'elusive'.
https://www.linkedin.com/feed/update/urn:li:activity:6975726541989154816...(activity%3A6975726541989154816%2C6975799593049452544)&dashCommentUrn=urn%3Ali%3Afsd_comment%3A(6975799593049452544%2Curn%3Ali%3Aactivity%3A6975726541989154816)&dashReplyUrn=urn%3Ali%3Afsd_comment%3A(6976278247214870528%2Curn%3Ali%3Aactivity%3A6975726541989154816)&replyUrn=urn%3Ali%3Acomment%3A(activity%3A6975726541989154816%2C6976278247214870528)
Money certainly isn't everything.
But...
...in a well-run small practice, the owner should be able to earn £100k.
Sends a certain message if they want to and can't...
Looking at all options.
Getting a better idea of where the alternatives have got to, there have been big improvements in some areas.
Negligent to just assume what we've always done is still the right thing to do.
You've missed the point, didn't you read the article?
Great article Tom and my opinion is similar to several of the comments here.
Natural to expect that the cool college kids of the 2010's grow into the global execs of the 2020's and alienate many of the early adopters (college friends).
Especially when the long-established accounting giant of the UK has seen a resurgence in the last 12 months and is now positioning itself as a serious challenger.
My head has been turned and I'm considering options.
Another reason not to deal with clients this small.
Not worth moaning and bleating about it.
Yep, sounds like 'user error'.
Anyone for whom £1000 has to be a minimum is up their own ar*e
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Why is that?
Their business, they decide who they work with.