Author: Ric Payne

Critical issues that surface in nearly every business

I was recently chatting with a member of the Principa Alliance and he shared with me the fear he had about conducting a planning session with a client and being asked a question he could not answer.  I’m sure this is a common fear but it’s unfounded for two reasons.  First, the purpose of a planning session is NOT to answer questions, it’s Continue reading “Critical issues that surface in nearly every business”

A Business Risk Assessment Tool

It’s amazing what one discovers in the process of cleaning out your study. I came across this tool that I had been working on that would give you an opportunity to start a conversation with your clients about the need to work on their business to reduce the degree of business risk.  That, of course, would give cause to accept a lower capitalization rate and therefore a higher business value for any given level of profit. Continue reading “A Business Risk Assessment Tool”

Your posture may determine your potential

I have just viewed a fascinating TED talk delivered by Amy Cuddy, a professor at the Harvard Business School where she studies non-verbal behavior and how posture can impact the testosterone and cortisol levels in the brain which in turn affect our level of confidence and the way other people perceive us, two factors that play an enormous role in our performance effectiveness.

Continue reading “Your posture may determine your potential”

Ask and you shall receive

The Russian novelist Leo Tolstoy wrote in War and Peace, “We don’t love people so much for the good they have done for us, as for the good we do for them.” This observation is particularly relevant to recent conversations I’ve been having with some of our Insider Members about conducting Client Advisory Boards and Meetings with Bankers. Continue reading “Ask and you shall receive”

Pricing Your Proposals: Don’t Assume Clients Act Rationally

If you prepare service proposals for consideration by your clients you need to read this post.  In my first lesson in microeconomics I was taught that most demand curves slope downwards from left to right.  For some products they will be steep and for others they will be flatter but for nearly all products (and services) it is posited that lower price will lead to more sales so we were taught. Continue reading “Pricing Your Proposals: Don’t Assume Clients Act Rationally”

Pricing …. again

If there is one universal critical success factor for all businesses pricing must be close to the top of the list and yet it is the least understood and most frequently abused tool in the management armory.  How often do you hear a client say I can’t raise my price because I’ll lose all my customers?  Maybe you even have the same view about your own pricing. Continue reading “Pricing …. again”

2012 Good Bad Ugly Accounting Benchmarking Survey

The Good, the Bad & the Ugly of the Australian Accounting Profession (produced by Business Fitness) has proven itself to be the most valuable and comprehensive research publication of its kind for the Australian accounting profession.  Knowing where you are in relation to other firms in your industry is the first, and probably the most important, step in taking your firm to the next level.

This year the report will be released in early to mid October but you must act now to be certain to receive your free printed copy–a saving of $295 by the way, but only if you complete the on-line survey before the cutoff date being Friday 5pm, August 31.

This year, the data collection and analysis will cover not just all of the important accounting firm key performance areas, but also the trends and insights relating to current industry topics such as the use of technology, revenue growth, succession planning and the use of outsourcing.

In addition, Business Fitness are also offering participants a free customised comparison report (valued at $795) which specifically compares the performance results of your firm with similar firms and the industry as a whole. You will need to submit a request for that report to Business Fitness at the completion of the online survey.

Here’s how to participate in the 2012 survey:

It will all be online and should take you no longer than 40-50 minutes.  That’s nothing compared to the value you’ll get from your participation.

Before starting the survey I strongly suggest that you read the Guide to Completing the 2012 GBU Survey so that you understand exactly what information is required.

Once you have done that you can access the online survey, enter your firm’s information and submit your responses.  This must be done before 5pm, August 31 for you to receive your free copy of the final report. Further, you must also complete Parts A and B of the survey and your responses must be authentic to qualify for the free report …. that’s only fair.

If you have any questions you can email the guys at Business Fitness at goodbadugly@businessfitness.net

This is a management initiative that I strongly recommend.  It really is a high quality source of information that you can use for more effectively managing and growing your practice.

 

 

Take a quick look at the future of our profession at work

This month Ryan Niedoba a 24 year old team member at Niedoba & Associates in NJ presented three webinars on behalf of Principa.  He talked about his success in using some of our tools and resources, coupled with a huge dose of his own common sense and sheer talent, to turn a couple of businesses around. Continue reading “Take a quick look at the future of our profession at work”