What makes a great accountancy practice?

The things that really successful practices do and what they have in common was the subject of a three year research project by Steve Pipe for AVN.

With remarkable candour and generosity of spirit, the firms we studied revealed in precise detail exactly what they do to generate extraordinary results for themselves and their clients.

Based on what those firms told us, we were able to identify the 15 primary drivers of excellence for the profession and work with them to construct a step-by-step action plan for transforming the results of any practice.

Now, we want to pay their generosity forward by sharing with you the 15 drivers of excellence the research identified. We also want to explain the arguments that some firms use for why the findings don’t apply to them and reveal them for what they really are… excuses.

Background to the research

The firms we studied came from just about every corner of the United Kingdom, from village greens to city centres. They ranged from start-ups to long established practices who can trace their roots back to the 19th century. They represented independent accountancy firms of all sizes, from sole practitioners to multi partner firms (although it is important to stress that the vast majority were 1-3 partner firms, only five firms had six or more partners, and the very largest was a 16 partner firm). We didn’t, however, study any of the Top 50 firm’s since we wanted to discover what works for “normal” accountants.

The 15 drivers of excellence

  1. Intent
  2. Decision Making
  3. Measurement Systems
  4. Action
  5. Measurement for Clients
  6. Improvement Solutions for Clients
  7. Alliances
  8. Client Meetings
  9. Proactivity
  10. Service
  11. Clients
  12. Pricing and Cash Management
  13. Teamwork
  14. Systems
  15. Marketing

To find out a little more detail behind these drivers, look for our forthcoming blog posts where we will get into the detail and analyse them further. If you like this article please like it for others to find.

I hope you find this article useful.

James

james_miller

 

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