Episode 169

Management Insights & Job Profitability Tips for Accountants

Mark Lloydbottom is an experienced and acclaimed lecturer to the accounting profession. He lectures across Europe and South Africa on his specailised topics of strategy, marketing and personal development for accounting firm. His body of work comprises many management and marketing program, and he is a lead team member at PracticeWEB, the UK's leading provider of hosted content for accounting firm's websites. Mark has written a range of books for the accounting profession and for Crown including Clients 4Life (for accountants), Your Money Counts (with co author Howard Dayton), The Money Devotional and Biblical Finance (co authored with Tim Segedin). Selected shownotes:
  • How the world's largest shared content system for accountants PracticeWeb was born
  • The opportunity that technology offers for the accounting profession if handled properly
  • The biggest threats to the accounting profession if firms do not step up
  • The succession challenges faced by accounting firms who will have to pay out big sums to older exiting partners
  • Why changing the accounting firm model is vital to attract new entrants to the profession
  • The problems with a hybrid model of working for accounting firms and their people
  • What good practice looks like for leadership and management roles in accounting firms
  • What prevents some accountants from being coachable and upskilling like they need to
  • Answering the question 'who is your best client?' for accountancy professionals
  • The challenges that a compliance heavy business model brings to accounting firms
  • The reasons accounting firms shun advisory and place over-emphasis on compliance work
  • Why most accounting firm partners spend only 5% of their time on non-compliance work
  • The critical difference between compliance and advisory work for accountants
  • What the best accountants do routinely that the average ones don't to serve their clients
  • What is going to drive up to 90% of the work accounting firms do in coming years
  • Why there are less people coming into the accounting profession (hint - it's not exciting enough!)
  • Whether accountants deserve the 'trusted advisor' mantle in today's competitive world
  • How the accounting profession is losing lots of clients and what they can do about it
  • Who truly has the ear of accountants and who the accounting profession should be listening to
  • How the burden of regulation hinders the accounting profession
  • What accountants can find on the Ignite Practice Management website
  • What accounting firm leaders must do to keep their skills up to date in serving their firms
When not working, Mark heads up the Compass ministry in the UK which teaches how finances should be managed according to the Bible. There are over 2300 verses in the Bible about how we should handle our money, wealth and possessions. Connect to Mark on LinkedIn Ignite Practice Management website

About the Podcast

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ACCOUNTING INFLUENCERS PODCAST
A vibrant, edgy interview-based radio-style daily show hosted by Martin Bissett and Rob Brown.

About your hosts

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Martin Bissett

Martin Bissett is the founder of the Bissett Group of companies that provide practice and personal growth communities, content, and continuing education exclusively to the accounting and bookkeeping professions worldwide.

Previously he established a high six-figure consulting firm while serving as a keynote speaker with over 100 one-off and repeat engagements to his name, as well as becoming the most published author on his topics of specialism with 11 books including 1 bestseller.

Since 1998, he has played a major part in working with over 1800 accounting firms in over 40 countries. These projects have led to those firms acquiring over £500m of recurring fees before inflationary increases, referrals and upselling are factored in. He stopped keeping track of this number over 5 years ago. Martin now advises both accounting practitioners and FinTech companies alike, at board level.
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Rob Brown

Rob Brown is a renowned MC, facilitator and chair of virtual and in-person panels, conferences and events globally for the accounting and fintech profession.

Rob is co-founder of the Accounting Influencers Roundtable (AIR) mastermind group and co-hosts the world’s most popular accounting and fintech podcast: Accounting Influencers.

Throughout the pandemic, he chaired 24 virtual panels with leaders of global accounting networks and alliances to discuss the key issues and challenges. Rob is retained by several associations and vendors to chair their events and provide high-level interview content for their communities.

He is the bestselling author of Build Your Reputation (Wiley) and his TEDx talk ‘The Personal Brand of You’ has been viewed 300K times on YouTube.