Are You a “Me Too” or “Differentiated”?

Welcome to Accountants Minute.

Are you a “me too”?  Your clients are competing in a competitive world.  Accountants are no different.

Things are changing all the time.

All types of businesses, including accountants, need to be differentiating their services to make them look different, to be able to offer the products/services that the customers are looking for – your clients.

Too many accountants are offering a “me too” service. 

Without differentiation, what type of firm is your organisation?  Are you attracting new clients?  Are these clients looking for the services that you’re able to provide?  Are you attracting young accountants who are keen to create some “action” to help clients add value to their businesses?  Are they happy that they’re doing “real accountant’s work”?

So where do you start if you want to convert your organisation from a “me too” to a diversified commercial business advice organisation; which is what, I believe (and plenty of experts also believe) the accountancy firm of the future is going to be like.

First, you need to identify the products or services that your clients would like you to produce for them.  So why not ask them?  Conduct a survey.  Hold a seminar.  Get their feedback,

You then need to develop your team because the prime group of people involved in the delivery of these services will be your managers and accountants, because most partners are very busy already.  If you are a partner in your firm, you need to be the mentors and rainmakers.  If you are not a partner, why not start talking to the partners in relation to diversifying the range of services that your firm is offering.

Then the clients need to be told (and also the prospects).  Talk in the marketplace about what you’re going to do.