Accountant's Minute 156
Welcome to Accountants Minute.
“Today’s business environment is in a state of flux with some industries extremely buoyant whilst others are floundering.”
“Accounting firms service all sectors of the economy and as a result our benchmarking research is showing a marked differential in performance among firms of similar size or based in similar geographies.” (Benchmarking.com.au)
“The most successful practices have the greatest concentration of larger clients therefore a relatively small number of their clients make up 50% of their practice. Although this brings with it greater risk of client loss, it usually creates the most ideal outcomes. Accountants can invest more in client relationship management, industry awareness and industry specialisation”. (Benchmarking.com.au)
There are many opportunities to identify clients to offer a range of commercial services.
Why not prepare a matrix of clients that fit one or more of the following samples of characteristics? You could then offer some of the non-compliance services that I suggest later in this article:
This group of clients are all potentially interested in the following services. Indicative prices for these professional services are shown:
|Debtors Management Review||$2,000|
|SME Debtors’ Systems Manual||$200|
|Chief Financial Officer Services||$10,000 - $25,000|
|Early Stage Innovation Company Due Diligence Review to determine eligibility||$2000|
|Crowd Sourced Funding – advice on eligibility, mentoring on approach to raising capital for a Crowd Sourced Funding entity, advice on Intermediary’s role||$5,000|
|Personal Property Securities Register Due Diligence Review||$1,000 - $2,000|
|Business Plan||$10,000 - $40,000|
|Strategic Plans||$15,000 - $40,000|
|Grant Applications||$500 - $10,000|
|Budgets and Cash Flow Forecasts||$3,000 - $6,000|
ESS BIZTOOLS has developed a “new opportunities calculator” which will assist you to identify potential fee slippage caused by:
The “New Opportunities Calculator” will assist in identifying new opportunities for your firm to pursue. You can obtain a free download of the “New Opportunities Calculator” by clicking here.
You are welcome to register to participate in our free webinars that we are presenting weekly to explore the new commercial services opportunities that are available for accountants.
Our free webinars are:
If you have any questions, please do not hesitate to send me an email – email@example.com or telephone me on 1800 232 088.
Have a great day!
MANAGING DIRECTOR – ESS BIZTOOLS PTY LTD
Watch out for the next episode of "Accountant's Minute" or subscribe to the podcast on iTunes for more news, ideas and tips on providing outstanding non-compliance services to SME clients.
Episode 156 - Exploring New Opportunities!
Latest business advisory news for Accountants in under a minute.
As their trusted advisor, can you assist your SME clients with business advisory services?