Accountant's Minute 264
Are companies giving sufficient priority to determining return on investment as part of the decision as to whether to proceed with a research and development project? This will be the theme for the conversation between Peter Towers, Managing Director, ESS BIZTOOLS and Peter Milla, Managing Director, Business Tree Pty Ltd, an experienced innovation consultant, in the ESS BIZTOOLS’ Business Advisory Services Webinars/Conversation on Wednesday, 17th March 2021.
There are many questions that have to be considered by a company as part of formulating a research and development project, which include:
But, there is another very important issue that many companies seem to ignore and that is what will be the “return on investment” of this outlay of shareholders’ funds which could have been expended on other projects?
Peter Milla believes that a full feasibility study should be prepared prior to a research and development project commencing and that the feasibility study should be submitted to the company’s Board of Directors as part of the application by management for permission to proceed with the research and development project.
What are your views? Do you normally include the preparation of a feasibility study identifying a return on investment for a research and development project?
Want to know more? Why not join us for what will be an interesting discussion on Wednesday, 17th March 20201 at 11.30am AEST (12.30pm AEDT). To register - click here.
In last week’s ESS BIZTOOLS’ Business Advisory Services Webinar/Conversation, Priscilla Bea Smith, Director, Cloud Nine Associates Pty Ltd, had a discussion with Peter Towers about the various challenges that are facing SMEs and accountants as we approach the end of the JobKeeper Support Program.
Some of the suggestions that were made for accountants to offer proactive services to their clients to assist in navigating these challenges were:
You can listen to the 30 minute conversation between Priscilla Bea Smith and Peter Towers by clicking here.
ESS BIZTOOLS is presenting a series of free webinars on research and development:
On 11th March the Prime Minister announced the government’s Post JobKeeper Support Program. We have prepared a summary of these announcements in the latest addition of the ESS BIZTOOLS’ newsletter that is produced for our subscribers to distribute to their clients and prospects.
You can access a complimentary copy of this edition of Business Plus by clicking here.
ESS BIZTOOLS’ free research and development webinars for accountants, business advisors and bookkeepers are being presented on:
Wednesday 24th March 2021 at 1.30pm AEST (2.30pm AEDT) - Mark Holton, Director, Smithink Pty Ltd
“Research & Development Can Assist Accountants To Differentiate Their Services”
Wednesday 31st March 2021 at 11.30am AEST (12.30pm AEDT) - Matthew Karakoulakis, Principal Solicitor, AMK Law
“Legal Issues Relative to Research & Development”
Brad Smart’s Fourth Tip Of The Week (“Selling the Message”)
“If you’ve been writing blogs, articles or even been producing short informational videos to keep your accounting clients up-to-date, you may like to recycle them by creating an academy on your website.
Never heard of an academy? Well, digital marketing experts are telling us that academies are going to be the next big thing in marketing.
An academy is a repository of information on your website, where clients can learn about problems they may be facing.
As the name suggests, academies are training grounds for clients and potential clients to discover rudimentary information without promotional messages being forced down their throats.
It’s a form of soft-sell marketing.
The concept is that visitors can read about their issues along with potential solutions.
Of course, the basis solution is then branded with your company name and encourages them to seek further advice. Properly planned, an academy could be ideal for a medium sized accountancy practice.
Academies are also scalable. They continue to grow as you add material on a wider range of subjects.
Well-designed academies can drive users into a sales funnel, which pushes email offers and often, videos to enhance the sales experience.
If you’d like to discuss it, please give me a call – 0418 311011”.
If you are interested in obtaining a free, no obligation overview of the Business Advisory Services Product Packages developed by ESS BIZTOOLS to assist accountants to deliver a wide range of Business Advisory Services without you having to reinvent the wheel by spending hundreds of hours in writing the material, please “Book A Demo” on the ESS BIZTOOLS homepage – www.essbiztools.com.au or contact Peter Towers:
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 264 - Converting Research & Development To “Return On Investment"
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