The Magic of Success and: Bad advice for accountants that makes me cross

Today, in addition to learning about the bad advice for accountants that makes me cross, you're also getting more real-life practical ideas and insights, and finally another fun item to make you smile - as a reward for reading to the end of this email ;-)

3 practical tips I shared recently in 1-2-1 sessions

My mentoring clients found these tips helpful in the context of their issues, challenges and problems. I hope you will too.

1. Accept your imperfections: As long as you are aspiring to improve, don’t expect to be perfect first time when you try something new. Be patient with yourself. Don’t set the bar too high. Manage your own expectations. Stop comparing your new self with your old self. Of course you’re not as good at the new stuff yet. We can talk this through.
2. Talk with your competitors: You may find that your preconceptions are unfounded. One of my other mentoring clients took a call from his key competitor - same niche focus. Similar sized firm. Same location. My client had been in awe of the other firm. In conversation though it transpired that they faced the same challenges. My client realised he is doing better than the other firm and is not losing work to them. An open conversation revealed there was nothing to worry about.
3. Stretch it, don’t fake it: To achieve more than you have done before you need to go outside your comfort zone. I can support you here as you stretch yourself. You can make it without faking it. Let's talk about how you can stretch yourself and achieve more of what you want next time we speak.

What are you talking about Mark? --> Lead generation

Here's just a couple of the virtual sessions you can book me to present 1-2-1 or to a group:

MMMMM – Mastering the 5 Ms for you and your firm – Ideal if your business development activities are a little unfocused and you are struggling to win the new clients and work you really want to be doing.

Lead generation using Linkedin – Basic and advanced opportunities to use Linkedin effectively to source the leads you really want.

Find out more >>>

Bad advice for accountants that makes me cross

These days it typically takes a lot to get me cross. But one thing that really winds me up is the continuing wave of advice to accountants generally, telling you to do stuff that doesn’t work for everyone and is especially inappropriate for most sole practitioners.

This is quite different from the advice that was winding me up ten or so years ago and where my doubts proved to be entirely justified.

In this week's blog post I have referenced the latest advice that is being repeated ad nauseam and is misleading good accountants into wasting time and money.

Read more >>>

The 3 Rs - Remembered, Referred and Recommended

Another way to be better Remembered than your competitors:

Choose a distinctive memorable name for your practice. Something more than just your name or the names of the founding partners.

Examples: Among the more distinctive and memorable names is one I came across when I was last speaking in South Africa.

DOUGHGETTERS Accounting - (trademarked) an ever-expanding Digital Accounting and Digital Business Administration brand, enabling clients to experience the future of Accounting and Business Admin, today.

Remember you don't need to do all of the things I suggest in this slot each week. Just those that feel right for you. And enough to be better remembered, referred and recommended than your competition.

Questions to ponder

Thinking about the biggest changes you have made to your practice recently, can you explain to me why you did things differently, and what those changes are?

You could ask your clients to think on this question too.

When should we talk?

Perhaps....

You want to get unstuck? Lockdown is ending. You know you need to do some serious planning to ensure that you avoid the mistakes and overcome the problems you have faced in the past.

You’re ready to move to the next level? You see the end of lockdown as a great opportunity and need to capitalise on it – but aren't confident you can do it on your own.

You’re looking to change a specific behaviour? You know that something (doing everything yourself?) has been holding your business back. You're fed up failing to make the changes you know are necessary - and realise you're not even sure exactly what you should be doing differently. You just need some help and encouragement.

How could I best help you?

Strategic support calls: Book a 2 hour zoom strategy call as a one-off, or as a series, in blocks of 6. All such calls include related follow up within reason.

One-off calls: There's no charge for the shortest of calls. You can also book a longer focused call for a fixed fee. I'll help you prioritise and get motivated.

Flexi-Mentoring programme – with ‘P’ calls: This programme gives you up to 12 calls where we focus on you making Progress as we resolve your Problems, establish your Priorities and your Possibilities. Our conversations will be focused, flexible and fun. There are 3 options as regards this programme. The middle one is the most popular.

Find out more >>>

Fun time - If we're not 'customers' of HMRC, what are we?

It's been many years since HMRC (the taxman) started to use the word 'customers' to refer to all types of taxpayers and tax credit claimants. Of course 'customers' normally get a choice as to where they shop so it's not the right word.

Here are 11 alternative, not too serious, descriptions. Do you have any other suggestions?

1. Slaves
2. Victims
3. Codees - Anyone who deals with the tax authorities has to have a code, so that's the common element.
4. Punters
5. Suckers
6. Cash cows
7. Mugs
8. Muggles
9. Government financiers
10. Prey
11. Lemons (as in "squeeze them until the pips squeak")

There's plenty more to make you laugh on the Accounting Fun blog here >>>

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Mark Lee FCA provides strategic advice, talks and mentoring to accountants and tax advisers who want to improve their reach, referrals and results. He is also Chairman of the Tax Advice Network, the UK’s largest network of independent tax advisers.

Mark has long been a popular speaker for UK accountants both on stage and online. Informed, entertaining and commercial he also debunks hype and misconceptions. Earlier in his career he was a partner in two top firms. He has a number of voluntary roles including being Treasurer of The Magic Circle.

In addition to his frequent posts on Linkedin, Mark writes a weekly blog and a popular weekly 'Magic of Success' email. His website is: BookMarkLee.co.uk