Business    Page 28

Category: Business

SMSF options

SMSF Advice Options

At June 2015 the ATO advised that there were 556,998 self-managed super funds in Australia with 1,049,840 members. During the 2015 financial year 32,073 ...
focus strategies for accountants

Focus Strategies for the Accounting Industry

Two focus strategies for the accounting industry include narrow service line and customer segmentation. The narrow service line involves practices providing a very narrow ...
stuck in the middle

Accounting Practices Stuck in the Middle

According to Michael Porter the worst strategic error is to be stuck in the middle, or to try simultaneously to pursue all the strategies ...
purple cow in field

A Purple Cow Practice

‘Purple Cow: Transform Your Business by Being Remarkable’ is a 2003 book by Seth Godin. The book advocates that companies produce remarkable products and ...
cost leadership accounting

The Cost Leadership Model is not Profitable

The overall cost leadership model is not a profitable strategy for accounting practices for four reasons: Practices with no staff where the principals do ...
Aldi

Cost Leadership Strategy

An overall cost leadership strategy involves providing products or services at a lower cost than your competitors and then charging lower prices than your ...
Financial planning

Cons with Establishing a Financial Planning Division

The problems practices encounter once they have established their own financial planning practice include: The accountant’s personality. Most accountants are not sales people and ...
Strategies value added

Strategies for Providing Value Added Services

Accounting practices that want to grow their value added practice revenue should: Firstly, procrastinate no-longer. Just get started with one easy to implement value ...
financial planning added value

Pros of Establishing a Financial Planning Division

The removal of the accountants’ exemption on the 1st July 2016 in relation to SMSF advice provided a strategic wake-up call to many practices. ...
Morgage broker

Pros and Cons of Establishing a Finance Broking Division

According to the industry body, the Mortgage and Finance Association of Australia, in 2015 the total new home lending attributed to mortgage brokers was ...