We recently engaged in a conversation with a practitioner who highlighted the issue of ‘needing to stay relevant’ for his clients. The more we investigated, the more we discovered that this is a very real concern – the challenge to stay relevant.
There is clear concern in some quarters about the commoditisation of services:
– ‘I-Returns practically complete themselves’ … what more can you do?
– ‘Financial programs practically tell clients exactly what they need to do to fix their business problems’ … what more can you do?
This view of ‘relevancy’ is further explored by Gail Perry, Editor-in-Chief of USA CPA Practice Advisor Magazine in her editorial ‘New York Show Focuses on CPA Relevance’. In this article, whilst acknowledging the emergence of this issue, the author’s clear message was focused on embracing technology in your practice to aid what you do, with empathy, to help your clients see the ‘real picture’ within their business. By embracing leading edge tools, not only can you add excellent value to your clients and remain truly relevant, but as an aside, you also make your practice more attractive to the best talent.
When your nose is to the grindstone, perspective can be easily lost. When a client leaves you, which is followed by a staff member resigning, which follows a software glitch that causes days of lost productivity, which follows a conference that provides no new insights, which follows your receptionist calling in sick, which follows clients not paying on time, which follows a drama at home … perspective can be easily lost.
So back to the question: relevance … what more can you do?
Perhaps the very answer can be found in perspective … a clear perspective … a client focused perspective. Having engaged with thousands of accountants over the journey, perspective is everything.
It would be all too easy to suggest, of course, that the most successful practitioners focus on the needs of their clients, and this is why they are successful. The truth is, there are many reasons why they are successful. It is also true that the most successful practitioners, more often, focus on the total needs of their clients. Many successful practitioners look at their client’s needs beyond compliance; they look at their client’s business operation and how the business is performing today and where is it going tomorrow; they look at their client’s net wealth position; they plan, they forecast, they challenge and they respond to their client’s needs. All the while, using tools and technology to assist in delivering key outcomes for their clients.
An interesting conversation recently with one of Australian’s most profitable and successful accountants revealed he has one goal – to look after the best interests of his clients. Most accountants, of course, would say that this is their objective as well – nothing new here. The difference lies in the subtlety of delivered services and delivered outcomes. This particular practitioner is not focused on tax lodgement deadlines; he’s not focused on fee pressures; he’s not focused on clients paying bills on time. He is focused on helping his clients create wealth through their businesses and helps them build wealth outside of their businesses. This practitioner delivers value for his clients, day-in, day out, and is extremely busy. This approach has intuitively been his focus ever since he started in practice 30+ years ago. Today, this practitioner could not be any more relevant for the clients he serves.
So whilst it might seem a little trite, surely the question is not ‘how do we become more relevant’? Surely the question is, how can we better serve our clients? There is so much value accountants can bring to their clients, but it would seem some are holding back, to the detriment of their own practice and certainly to the detriment of their clients. For many, there is so much more that you can do.
Author: Colin Simkin, Co-Founder, ATL Network
Mobile: +61 417 435 212 | Office: 1300 796 627
Email: colin.simkin@atlnetwork.com.au
www.atlnetwork.com.au