Ric Payne's Blog: The Consulting Accountant
Better Business. Better Life
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”
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”
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”
I was sitting in the sauna at my gym this morning and I noticed a sign on the wall that had several warning bullet points. One of which was “Prolonged exposure to heat can cause the body to overheat.” I thought to myself, is it really necessary to remind people about something that is self-evident? Continue reading “Important reminders”
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.
Peter Drucker once wrote: “So much of what we call management consists in making it difficult for people to work.” That’s a pretty damning indictment of management but it may be close to the truth. Continue reading “An Engaging Vision Will Engage Your Stakeholders”
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”
Automaticity means the ability to do things without thinking about it. It’s usually the result of learning, repetition and practice. Much of what we do in life, including what we do at work, is automatic which is why our habits reflect a type of unconscious competence. For the most part automaticity is a good thing but it becomes a significant barrier if we want to change our habits because they’re no longer serving us well. Continue reading “Why you (and your clients) need outside help to change”
At Boot camp we do a session on the power of guarantees, it’s one of the 18 profit-driving leverage points we teach. My favorite example of the articulation of a powerful guarantee was that created by Alvin “Bugs” Burger for his business, Bugs Burger Bug Killers (BBBK). Continue reading “A Business Lesson from a Bug Exterminator”
It’s an oldie but a goodie. I’m referring to Heskett, Sasser and Schlesinger’s book The Service Profit Chain. It was first published in 1997 but the substance it contains is as relevant today as it was then.
One of the concepts they introduce is the Customer Value Equation which reminds us that from the perspective of a customer, value is simply the sum of results and process quality divided by the price paid plus the cost incurred by the customer to receive the service. Continue reading “Your Customer Value Equation”