Proven Growth Strategies for Progressive Accounting Firms - Success in Accounting

Episode 24

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Published on:

14th Nov 2018

Proven Growth Strategies for Progressive Accounting Firms

Rob Nixon

Rob Nixon is one of the world’s foremost authority on how accounting firms can achieve peak performance. Since 1994, he has been running businesses that specialise in helping accountants run better, more profitable businesses. Accountants intrigue Rob and over the years he has trained them, consulted to them, coached them, researched them and visited thousands of them.

His speaking work has taken him around the world where he has spoken to in excess of 150,000 accountants. Currently his landmark strategies and products are used by over 16,000 accountants in over 20 countries.

He is the author of 2 bestselling books “Accounting Practices Don’t Add Up – why they don’t and what to do about it” AND “Remaining Relevant – the future of the Accounting profession”. Both have received rave reviews from Accountants and industry professionals from around the world. In 2014, he released a groundbreaking cloud software solution called PANALITIX. Accountancy firms around the world use PANALITIX to get better numbers and delight their clients. Listen in and hear gems such as:

  • Every business is connected to an accountant, which is why they can make such an impact
  • Accountants are the natural trusted advisor and don’t earn enough money for how smart they are
  • For accountants, technology is an enabler as well as a disruptor
  • Being a trusted accounting advisor means your clients buy your services to help them achieve their goals
  • The larger accounting firms have certain advantages over the smaller ones and vice versa
  • The two things that allow great accounting firms to outpace the ordinary ones
  • The biggest challenge to growth for accounting firms is apathy of owners
  • There are 1.3m accounting firms globally making $1/2 trillion – it’s the most profitable business in the whole world
  • For successful accounting firms, partner income means comfort, which breed apathy, complacency and lack of progress
  • Why ditching time sheets is bad advice for accountants
  • The six KPIs (key performance indicators) progressive accounting should be measuring
  • Accountants advise their clients every day but how many of them actually are advised and coached to be better?
  • Compliance is a commodity product that machines can do, so where is the value that accountants add?
  • Accountants are selling time and labour, but the real business they are in is selling expertise and knowledge
  • Good firms are moving the revenue mix from compliance dependency to business advisory
  • The power of niching for accounting firms of all sizes
  • Accountants need to enhance their business skills as they are the trusted person, consequently they can affect the clients’ revenues and profits
  • Big accounting firms are investing heavily in business, technical, advisory and selling skills
  • Partners in a firm who don’t or won’t win new work are really just overpaid accountants and surplus to requirements
  • Biggest frustration with the accounting profession – lack of implementation of learning and good ideas!

Rob is a keen golfer (single figures) and adventurer (he is ticket holder 293 on Virgin Galactic to go into space). He lives in sunny Brisbane, Australia with his lovely wife Natalie and 3 children.

To contact Rob on LinkedIn at therobnixon or Liked your Top 100 Club Podcast Interview with Rob Brown" target="_blank">email him directly>>

You can also visit his Company Website or linkedin.com/in/therobnixon

You can read his personal blog and contact him for further advice.

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About the Podcast

Success in Accounting
Insights, interviews and commentary for accounting, CPA, bookkeeping and finance professionals
SUCCESS IN ACCOUNTING is a weekly podcast for accountants, CPAs, bookkeeping and finance professionals, together with the networks, associations, fintech vendors and influencers who lead them, work in them and serve them.

The show is hosted by Rob Brown and Martin Bissett who are founders of the Accounting Influencers Roundtable (AIR) and have many years of experience serving the accountancy profession. The style of the show is not overly technical/technological/tax in nature but more on people, performance and success in the accounting world. Popular topics and themes covered include:

☑ leadership, executive presence, trust, integrity & reputation
☑ M&A, business models, future proofing, drivers of change & disruption
☑ performance, values, culture, vision & strategy
☑ employer brand, gen z/millennials & talent - succession, recruitment and retention
☑ industry trends, statistics and patterns
☑ growth, marketing, differentiation & positioning
☑ pricing & profitability
☑ digitisation, cloud, technology & automation
☑ advisory services, niches & emerging markets
☑ environmental & social governance ESG
☑ diversity, equity & inclusion DEI
☑ professionalism, career development & CPE/CPD
☑ business acumen & commercial awareness

Sources and guests come from:
★ EXPERTS - influencers, disrupters, consultants, gurus, podcasters and broadcasters in accounting and fintech
★ EVENTS - live coverage and interviews from exhibitions, conferences and a range of industry events
★ MEDIA - newspapers, online outlets, commentators, writers, bloggers and authors
★ VENDORS - suppliers and providers of accounting apps, platforms, fintech and software
★ REGULATORS - professional accounting bodies, institutes and associations
★ NETWORKS - alliances, associations, networks and communities of professional firms and accounting practices
★ SOCIAL MEDIA - opinion pieces, high engagement posts and controversial conversations

Hosts Martin Bissett and Rob Brown are founders of the Accounting Influencers Broadcast Network. Martin 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, Martin 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 a range of accounting practitioners and fintech companies at board level.

Rob Brown is a renowned presenter, facilitator and chair of high level conferences, panels and events globally for the accounting and fintech profession. He is retained by many professional networks, alliances, associations, practices and vendors to chair their events and provide high-level interview content for their communities.

He is a dynamic speaker and accomplished expert on trust, reputation, employer brand, talent, career development, succession, gen z/generations, executive presence, referrals, networking and winning new business. He is also the bestselling author of Build Your Reputation (Wiley) and his TEDx talk ‘The Personal Brand of You’ has been viewed 320K times on YouTube.
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About your hosts

Martin Bissett

Profile picture for 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.

Rob Brown

Profile picture for 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.