Practice Management Archive

7 Step Process to Achieve Revenue Growth Targets

What are your firm’s revenue growth targets for the next 12 months? Do you have a formal plan in place to identify opportunities to service existing clients better and...

Implementing Effective Systems to Automate Your Business

Implementing systems in your business is about more than simply having all team members working in the same way. It is about enabling accounting firms to overcome two of their...

Your CRM and Business Advisory Success

Your Client Relationship Management (CRM) system in an integral part of your firm’s business advisory success.

Wikipedia defines a CRM as an approach to managing a company’s interaction...

Franchisor liability has changed

There have been recent amendments to workplace laws that affect certain franchisors. Under these changes, there are additional provisions that mean franchisors can be held responsible for contraventions of...

Is 5% revenue growth enough for your firm?

In recent years, many accounting firms are struggling to achieve significant growth in revenue. Much of this has to do with increasing efficiency and decreased value of tax compliance...

Amazon CEO Jeff Bezos’ Secret To Avoiding Email Overwhelm

Do you look at your inbox and want to cry? If so, you’re not alone. According to widely cited Radicati Group research, the average person gets 120 business emails every...

What accountants can learn from air traffic controllers might surprise you!

I have more than a passing interest in aviation. I find it a fascinating industry and as young adult in Canberra I would sit on top of a hill...

Is Your Work “Challenging Your Team”?

Are you having trouble recruiting or keeping good clever team members – if so why not “challenge” them?

Good clever team members are always going to be in demand.  At...

Vulnerable workers and headaches for Accountants

Before A.I. and robotics take our jobs let’s review a subject that accounting professionals need to consider in your relationship with clients to limit your exposure and theirs.

Having had...

Spring cleaning your Computer

With the recent warmer weather announcing the arrival of Spring, I was inspired to venture into the yard to breathe in the fresh air and maybe even pull out...

The Truth About Price

It’s been close to 20 years since Ron Baker published his book ‘The Professional’s Guide to Value Pricing.’ In that time, there’s been a lot of discussion about what...

Key SMSF Audit Issues for 2017

A. Market Valuations

  • Need to ensure SMSF assets are recorded at Market Values
  • Cannot rely on council rates and trustee minutes “declaring value”
  • Market values need to be supported by appropriate evidence

B....

Delivering for Your Staff and Your Future

Over the last 10 to 15 years many accounting firms have seen the business context in which they operate change dramatically. Cloud computing, automated workflow, exception-based processing, customer relationship...

Lessons For Accountants from an Electrician Experience

I’ve had an experience with an electrician that got me thinking about some lessons for accountants.

First I rang the office number. The call was picked up by an electrician...

Six characteristics of extremely profitable firms

2017 marks sixteen years of Business Fitness guiding the accounting industry, and for fifteen of those years we have been keeping a close eye on the trends and developments...

Is Collaboration the solution or the problem?

As accounting and advisory firms become more integrated with multidisciplinary services, there’s been a stronger focus on internal collaboration – the sharing of knowledge and information – to improve...

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