What Accountants Can Learn from Behavioural Economics - Success in Accounting

Episode 26

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Published on:

28th Nov 2018

What Accountants Can Learn from Behavioural Economics

Steve Pipe  is a chartered accountant, best-selling author, dynamic speaker, and founder of the Get and Give A Million movement. His 2016 book, “The World’s Most Inspiring Accountants”, has been described as a “masterpiece”, “ground-breaking” and “desperately needed”.

His other books include “Your blueprint for a better accountancy practice”, “The UK’s best accountancy practices”, “Stress proof your business and your life” and “Better business, Better life, Better world.” He has been happily married to an accountant for over thirty years, lives in Yorkshire, plays tennis and the blues guitar very badly. Shownotes:

  • Why accountants, more than almost any other profession, can do real good in the world
  • The joy of doing the things you really love
  • Most economic thinking from the last 50 years is redundant due to the relatively new discipline of behavioural economics
  • There are two types of thinking fast (habits, gut) and slow (reasoned, analytical) and one is much more common than the other
  • 21st century accountants have a real opportunity to drive ‘right thinking’ and better decision making in their clients
  • What separates the successful from the unsuccessful accounting firms
  • Some accountants are still focused on ‘keeping the score’ – these will go out of date
  • There are downward pressure on fees accountants charge because clients don’t fully understand what they do that adds value
  • The two kinds of rewards accountants reap – emotional and financial
  • Why it’s time for the accounting profession to step up and do a better job
  • Where the opportunities lie for accountants and why many of them are missed
  • Complacency – the big enemy of accountants who want to be proactive
  • The five critical components that define proactivity for an accountant
  • The two big payoffs for being proactive with clients
  • The single biggest thing you can do to make the biggest difference in life and business
  • Why businesses and firms that do good receive huge emotional and commercial benefits
  • How much better is business when you work with people who share your values?
  • The best way to get more recommendations and testimonials from people
  • Accountants who restric themselves to what can be done at the push of a button will cease to become relevant
  • The move towards value based pricing has not gone far enough
  • What you must do to ensure 81% of clients will tell others about you
  • The key differences between value pricing and impact pricing.

Steve is super-passionate about the impact accountants can make in the world by being a ‘force for good.’ His insights here on pricing, being proactive and simply being nice are first class. To contact Steve:

LinkedIn

You can also visit his Blog or visit his  website.

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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.