FD PARTNERSHIP NEWSLETTERS
September 2013
It’s been a very hot summer and I am most definitely anticipating the onset of winter eagerly. Not just because I cannot tolerate warm weather per se but because my work performance suffers in the heat and thrives in the cold.
This has made me appreciate the sentiments of those who do not like the cold and the consequences this has on business, both on the micro and on the macro level. Some people struggle to motivate themselves on a gloomy freezing Monday morning and if they are self employed it does not bode well for their economic prospects and if they are employed it leads to all sorts of issues at work.
Which leads me on the $64,000 question; does weather and climate affect economic performance? Do countries with more stable climates fare better economically than places with extremes or constant fluctuations? I‘ll leave that for you to make your own mind up but before deciding take a cursory glance at the countries bordering the Mediterranean then cast your eyes towards our Nordic neighbours.
Now for a piping hot cup of tea before getting down to work…
Practice is changing – don’t get left behind
Many of you are well aware that things ain’t what they used to be. Change is never easy but perhaps nowadays it’s the sheer pace that worries many firms, especially if they paid a visit to Accountex 2013.
At FD we believe the next big thing is affiliation so that accountancy firms can engage better with their clients and bring business savings to them, demonstrating that they are not simply expensive compliance clerks, but an integral part of the success of their clients’ businesses.
Research shows that today’s clients expect more, especially younger ones who have been raised in a world of instant results and collaborative working. Unfortunately for many firms the message only hits home after a few clients have slipped away or been lured by a competitor, whether local or internet based. There’s no need to be left behind and there are plenty of books and blogs that dispense sterling advice. The challenge is how to translate it into practice, bearing mind that there’s no silver bullet but it‘s a holistic approach that takes weeks and months of implementation under usually expert guidance.
The beauty of affiliation is that not only do your clients receive a value added service from you but as your clients spend you earn, helping keep a lid on fees which in turn retains and attracts clients. It’s a win-win for everybody.
If you want to learn more about practice growth and affiliation in general or about joining one of our schemes drop me an email to [email protected] with the subject AffiliateQuery, click here, or call me for a no-obligation chat on 0161 798 9999.
Updated business guide
We’ve updated our popular “The A to Z of starting and running a business” (accountancy firm version – white labelled). This white labelled version has been specially prepared so that you can put your firm’s details on it and give it to clients. Download it here.