Member Since: 9th Feb 2005
23rd May 2014
johnjenkins raises an interesting point, but...
How do you build a sizeable firm without handing over management of client relationships to others?
8th Aug 2013
They wouldn't be necessary
If it were not for decades of gold plated employment leglislation.
As it is I think they are a good solution, and probably partly explain why UK employment figures have held up so well through the recession.
30th Jul 2013
What about a refundale setup fee?
To be offset against the clients first year end invoice.
Eg, quote client £700 per annum with additional £300 in first year. Client pays £300 at outset and only £400 at year end. They get a discount for first year but accountant still gets some fees front loaded, rather than just writing off the £300 set-up.
10th Jan 2013
Not just about the franchise system
You could argue that it was more about having capital to invest than a franchise system as such.
It stands to reason that a new accountant startup will have a better chance of growing if they have capital to invest than if they are on a shoestring.
That goes whether they choose to invest in a franchise or just invest in building their practice.
That said, you cant knock him. The boy done good !
17th Dec 2012
Why not change your username to...
Phil "the power" Taylor.
Sorry. I'll get me coat.
12th Dec 2012
I cant see how this will help the growth of UK businesses
The main problem I have wiith this is that I have spent the last 20 yrs trying to get gusiness to keep and understand accounts that impart meaningfull information.
These rules mean that the accounts are of limited use for decision making. Using this rules will probably stunt the growth of business past the initial embryonic stage.
They are probably appropriate for the tiniest of businesses only.
Surely the manipulation around opting in and out cannot be as straightforward as some people on this thread have been making out, otherwise theeffects will be ludicrous.
14th Dec 2011
I wonder what proportion of the 40% of clients are themselves lazy?
Not open to being helped, not wanting to shoulder more responsibility for their bookeeping.
They have a bad experience with HMRC, blame the accountant and move on.
Dont get me wrong, I am not making excuses for lazy or incompetent accountants, but it aint a one way street.
16th May 2011
I used to think that financial services were some kind of panacea, mostly after going on courses by people like (and including!) Gordon. However, after trying a number of different business models, over quite a few years, we have failed to generate more than about 1% of additional revenues. Negative feedback has been in the form of clients arranging their own single pension payment after the first year to avoid paying any commission (after first ringing me and asking how much to put in!!). Clients express an interest in things like protection, but then dont buy. We were doing a fair few mortgages, but even that has dried up now.
About the most positive thing to come out of it is the referrals we have received from IFAs.
25th Mar 2011
There is an inherent paradox here. The true accountant entrepeneur will be focused on building a business where he is focused on his own strategy, and leaves the servicing of client needs to others. This is ideally suited to the rows of staff selling time approach, just put new work into the funnel.
By spending time working on clients businesses you are not working on your own. The paradox is you cant get entrepeneurial accountants to work for you in your practice and deliver theses service to clients, because they are too busy off doing their own thing, consequently the principal becomes the main source of service delivery. The result - no time to work on your own business.
10th Aug 2010
What about contributions to overhead
Surely its a case that most accountancy firms overheads are pretty fixed, short of sacking half the workforce. Is it not a case that even poor clients are making a contribution to running costs?
Not dissagreeing with you completely, just putting a slightly different point of view.