Tag: tips
Client retention
Client retention is really any activity that a practice undertakes in order to reduce client losses. Client retention is about exceeding the client’s expectations so ...
The Trouble With Debt
The three ways accountants can get in trouble with debt financing their practice are: Using short term debt to make long term investments. Doing ...
Introducing New Services to Existing Clients
This strategy is about creating new services that you can provide to your existing client base. It is similar to the low hanging fruit ...
The Effect of a Good Office on Productivity
Productivity studies show that the most significant factor in determining an employee’s ability to focus is their physical environment. A well-designed office can increase ...
Strategic pricing
Pricing is the process whereby a business sets the price at which it will sell its products and services. In setting prices, the business ...
Accounting Practices KPI’s
An accounting practice’s key performance indicators (KPIs) are the set of quantifiable measures that are used to gauge or compare performance in terms of ...
Working Capital Management
Working capital management involves ensuring a practice has positive working capital so it is able to continue its operations and have sufficient funds to ...
Practice Sin 7 – Poor Time Management
Principals often spend too much time on activities that have no value. The Pareto analysis can be applied to time management. This is the ...
Practice Sin 4 – Failing to Change
As the business environment changes, practice owners must change. The ‘old’ ways of doing things must be changed when technology makes the new ways ...
Practice Sin 3 – Operating the Practice Like a Hobby or Vocation, not a Business
Operating an accounting practice can be very personally rewarding and satisfying as principals have the freedom of being their own boss plus the satisfaction ...