Category: Business
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 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 ...
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 ...
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 ...
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 ...
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 ...
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 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 ...
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. ...
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 ...