Accounting Practices Don’t Add Up

AU$ 35.00

5.00 out of 5 based on 13 customer ratings
(13 customer reviews)

“A Life That Puts FIRE Back In Your Belly And More Love Into Your Heart!”

Using the methods described in this book, hundreds of accountants around Australia have rediscovered their MOJO, their passion for life… their passion for their business.
They’re happier with life than ever. Way happier with their accounting business than ever. They’re having more holidays and time off than ever. And they’re raking in seriously big money.

The traditional Accounting ‘Practice’ model is outdated. Your clients do not want an Accountant who is just an order taker. What they do want is an Accounting firm that looks to the future and provides them with timely advice on what they should be doing now to improve their businesses and ultimately to help them achieve their financial and lifestyle goals. If you want to be that firm, you need to read ‘Accounting Practices Don’t Add Up’ to learn how.

In this book, Rob Nixon reveals how he helps accounting firms succeed.

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Description

Dear Partner,

Let me introduce myself. I’m Rob Nixon. For 17 years I’ve had the privilege of working with over 5,000 partners from 3,500 Accounting firms to help them create businesses and lifestyles they love. Firms have paid me as much as $30,000 to share my growth insights and I’m delighted to say that the results they have achieved are tremendous.

Now – I have decided to share these insights, tactics and systems with all Accounting Firms in Australia, through my new book, “Accounting Practices Don’t Add Up – Why They Don’t And What To Do About It” … for a very low price of just $34.95 so everyone can benefit.

What’s Possible For Your Firm?

Here are eight of the greatest benefits that accounting firms experience when they apply the principles inside my book:

  • Significantly reduce your WIP and debtors.
  • Eliminate Write-offs.
  • Dramatically increase profit per partner.
  • Give you back your FIRE for your business.
  • Increase average project fees per client by a significant margin.
  • Deliver greater value to clients than ever before and have them love you for it.
  • Put the passion back into your business and your life.
  • Work less, earn more, have more time off.

What Isn’t Working In Each Key Area Of Most Accounting Firms?

“Accounting Practices Don’t Add Up” addresses the challenges that firms face in each area of their accounting practice and provides practical solutions and examples – with:

  • Your Business Structure
  • Your Partner Model
  • Your Clients And How You Serve Them
  • Your Team And How They Perform
  • Your Sales Methods
  • Your Marketing Techniques
  • Your Pricing Methods

Here’s a quick rundown of each Chapter so you can have a much clearer insight into what it’s all about …

What’s Right and Wrong With The Traditional Accounting Practice Model

Chapter #1 features:

  • The bizarre 6 step profit model that most accounting firms swear by. Why it doesn’t work. Page 2
  • The NEW model that dramatically increases profits. Page 3
  • How to turn write-offs into write-ons and instantly unlock 6 figures in previously unrealised profit. Page 4
  • Order Takers vs History Writers: Which one are you? Page 10.
  • The 2 critical issues that hold back firm performance, create client apathy and are slowly killing your firm. Page 12.

Dramatic Change – Why It’s Critical If You Want Your Firm To Thrive. Here’s How To Do It!

If you are dissatisfied with the performance (personal satisfaction and/or monetary rewards) of your current firm then you will need to change what you are doing. Not tweak it a few percentage points in productivity, average hourly rate, write-offs or lockup. No!

You will need to change what you are doing dramatically if you want different results.

The good news is that the change needed is not hard to do once you get your motivation and mindset right. This chapter will explore the key areas that need to change from a “business model” point of view.

Chapter #2 features:

  • 12 marketing tactics to position your firm as a leader. (Page 20)
  • 9 lead generation actions to drive more enquiries. (Page 21)
  • The 12 point checklist to increase client retention. (Page 24)
  • 11 simple tips to dramatically increase average project value. (Page 25)
  • The 38:43 Business Model. How a 38% increase in performance increases revenue by 43% and profits by 84%. (Page 27)
  • The 4 step client ranking system. (Page 29)
  • The 3 step quiz that showcases the new business model. (Page 30)
  • What your clients want from you: The five key areas (Page 33)
  • 5 steps to deliver a higher level of service than ever before. (Page 33)
  • The New Organisational chart delivers exponential results. (Page 36)
  • Structuring for Success and the New Equation. (Page 34)

The Entrepreneurial Accountant And Why Partner Remuneration Needs to Change

Chapter #3 features:

  • 21 characteristics of an ideal partner. (Page 42)
  • Why Partner Remuneration models don’t work. (Page 43)
  • The 6 different partner pay scales based on contribution. (Page 45)
  • 3 things high contribution partners should do and how to pay them. (Page 45)

How All Your Clients Can Be A-Class Clients with High Annual Fees!

No Time wasters. No debtors. No unprofitable clients. No headaches. How to Fire the Painful Ones And Only Work With The “Cool” Clients And Watch Your Revenue Increase.

Chapter #4 features:

  • 10 client selection criteria for an ideal client, how to sack your “non-conforming” clients and attract more of the “cool” ones. (Page 62)
  • The 4 question checklist and the 4 step process that increases client delight levels, adds more value and increase repeat business. (Page 67)
  • 2 steps to build high profit, enduring client relationships. (Page 71)
  • A 10 point client communications schedule that works. (Page 71)
  • 6 equations to work out your level of TRUST with clients. (Page 49)
  • The WIP and Debtors Vanishing Method: 18 step workflow process. (Page 59)
  • Discover how one accounting firm culled their client base from many hundreds of clients to just 109 clients then down to just 70 clients. Their profits increased to 50% and average fee was $45k. (Page 64)

Chapter #5 features

  • The life-changing lessons that I learnt from running the London Marathon. My 6 learnings of Marathon Success and how they apply to your life. (Page 94)
  • The definition of “real wealth”: and it isn’t just about money. (Page 76)
  • The “Ferrari” example that touched the hearts and changed the lives of 261 accountants (and made dozens of grown men cry). (Page 78)
  • The 10 step personal development system that keeps me on track and focused on living the life I want to live. (Page 78)
  • Time management principles to find an extra 5-10 hours a week.

Finally – How to Kill Off Charge Rates And Take a Quantum Leap in Profitability

Chapter #6 features:

  • 3 profit-killing mistakes that most accounting firms make. Page 97
  • The 3 key factors that increase margins. Page 105
  • The 6 step margin progression that shows how value-based pricing significantly increases margins and client happiness levels. Page 104
  • A letter to send to announce your move towards value-pricing. Page 111
  • How to set your prices to add more value and earn more. Page 112
  • The 13 big benefits that clients experience with your compliance. Page 117
  • 11 actions to move from time-based billing to value-pricing model. Page 119
  • An example of how one Accounting firm earned $50k from a project they would have charged $5k for a few years ago. How to tell clients your price and how NOT to. Page 115

Here’s What Successful Accounting Firms Don’t Want You To Know About Selling …

Sales truly is the art of helping people fulfil their dreams. If you don’t sell, you’re not truly helping your client. When you make this mindset shift, an entire new world opens up to you.

Chapter #7 features:

  • The 8 self-limiting sales beliefs and how to eliminate them. (Page 127)
  • The 8 things to remember about selling that can propel any accountant to “guru-like” sales status. (Page 127)
  • The Accountants’ Sales Secret: How any accountant can achieve sure-fire sales success. The 12 step sales process. (Page 135)
  • 39 questions and phrases to help your client achieve their needs and secure more projects and send your conversion rates soaring. (Page 137)
  • How to BE a great salesperson in a meeting. 8 sales tips. (Page 140)
  • 3 comprehensive scripts to handle objections and make more sales. (Page 141)

How to Have a Champion Team Who Enthusiastically Embrace Change

This chapter shows how to have an enthusiastic team that are as excited about your vision as you are. What’s more, it shows you how to change the culture of your organisation and significantly increase staff retention.

Chapter #8 features:

  • The 5 methods to build a high performing team. (Page 146)
  • The 9 characteristics of a winning team. (Page 149)
  • 14 step-by-step performance standards to embody excellence. (Page 150 – 161)
  • The 8 methods to achieve “buy-in”. (Page 162)

How To Design and Live Your Ideal Life

Chapter #9 features:

  • How to design YOUR business in the way that perfectly suits your lifestyle. Page 171
  • There are 4 different accounting firm models. Learn how to design the model that gives you the ideal business life. Page 172

Over $30,000 worth of advice to run an accounting business that is WAY more pleasurable and profitable than ever before. This is information you won’t get anywhere else at such a ridiculously affordable price of just $34.95. ORDER NOW

Request your copy today. To do that, just go to the online order form at www.nixonadvantage.com/bookshop or complete and return the slip enclosed.

Not only is the book brimming with information, it’s an easy, inspirational and often entertaining read. Most importantly though, it offers you a vehicle for change.

 

13 reviews for Accounting Practices Don’t Add Up

  1. 5 out of 5

    This Book is a “Must Read” for Every Accounting Firm!

    This is a powerful and profoundly important book. Rob Nixon brings
    17 years of making a difference in the profession into a laser-like focus.
    It burns away the myths and unlocks the real secrets of creating a
    practice that does great things brilliantly.

    Paul Dunn
    Author of The Firm of the Future (previously Chairman
    Results Accountants’ Systems and creator of the Accountants Boot Camp)

  2. 5 out of 5

    Sales is a key part

    “Rob 38:43 – It’s a bible like philosophy! It’s one that needs action not belief. Sales is a key part of what we do and revisiting the good habits is vital in keeping the bad habits at bay.”

    Nick Rundle
    Insight Business & Financial

  3. 5 out of 5

    “A much better practice and a much better life”

    “This book is full of enormously useful, practical and profitable ideas and insights. It will take courage to follow all of its advice – especially the brilliantly challenging section on how to reward partners – but if you do you will have a much better practice and a much better life.”

    Steve Pipe FCA
    AVN Founder and Head of Research
    Author of The UK’s best accountancy practices Services

  4. 5 out of 5

    “Added nearly $300,000 to my bottom line already”

    “… we have eliminated write-offs completely – they dropped from 10 per cent two years ago to 2 per cent in the last financial year…. (zero since coachingclub started but a hangover from the first six months of that year). In the first three months of this financial year we have write-ups of over 10 per cent. So coachingclub has added nearly $300,000 to my bottom line already! I guess that is a 10 times return on investment.”
    Mark Jenkins
    Director, Whakatane, New Zealand

  5. 5 out of 5

    “Improved net profit by 61% in two years”

    “Prior to doing this we were already a successful firm. Rob and coachingclub were instrumental in helping us improve our net profit by 61% in two years. Our first focus in coachingclub was on increasing our efficiency or getting our back yard in order. We achieved immediate results by implementing a number of simple strategies. However our big gains were achieved through value pricing.”
    Greg Brennan
    Partner, Brenann Sloan Leahy

  6. 5 out of 5

    Easy to get your clients saying YES

    “What I like most was being taken out of my comfort zone and being shown how easy it is to get your clients saying ‘yes’. Rob is confident and speaks from experience – it all ties in together at the end. It makes complicated seem simple.”

    Jason Fagg
    Capricorn Investment Partners Limited

  7. 5 out of 5

    “I am making more money with better cash flow”
    “You have given my business a clear direction. Whilst I have passion and determination for my business, my ‘missing ingredient’ was profit and cash flow. Knowing which projects to implement and being held accountable by the coachingclub group has kept me, as the leader of my organisation, on track, as well as providing motivation and stimulation for my team. I am truly enjoying the coachingclub experience and the people I have met as a result are a big part of that enjoyment. Oh! And I am making more money with better cash flow.”

    Evan Bulmer
    Sole Practitioner – Evan Bulmer & Associates

  8. 5 out of 5

    “Maximise Our Potential”

    “Rob, you truly get full team participation to happen. We discovered how to maximise our potential. Team buy in is what is needed and Rob is great at fostering this.”

    Sean Loader
    Business Manager – HAS Business Solutions

  9. 5 out of 5

    “Over the years I have read hundreds of self-help books, spent thousands of dollars on different coaches and many hours contemplating how to run a better business, I just knew there had to be a better way, you know it in your gut. Rob explains all the current problems with your traditional Accounting Practice, but provides proven workable solutions. The results are immediate. After I read his book it was like being born again, Rob turns on the light in a dark room that many Accountants currently stand in. I cannot recommend this book more highly because it simply gets results. My advice: join the Coaching Club, read the book, take action and apply all you learn and you will reach your full potential as an Accountant”

    Jamie Johns B.Bus
    FIPA – Principal
    Small Business Coach & Tax Specialist

  10. 5 out of 5

    Garry Beavis of Beavis & Co says it eloquently … “I’ve been involved in the Accounting profession for 30 years and for most of that time I, and the firms I worked for, were doing it all wrong. Many firms are still doing it the wrong way today.
    Who knows how much money we left on the table because we were stuck in the rut of doing things as they had always been done; based on inputs and time. It’s totally wrong, inefficient and unethical.
    Rob has been a great influencer and leader in helping me realise this and to change my ways, from a practice dictated to by clients and tradition to a business run on my terms, with the clients I want to work with and with fees based on objectives, measures and value.
    In his book Rob navigates the way for Accountants to transition from the old to the new; from the profitable to the extremely profitable; and from the sometimes mundane to the creative, enjoyable and satisfying”.

  11. 5 out of 5

    Accounting Practices Certainly Don’t Add Up! – In his excellent book

    Rob Nixon captures the essence of what is wrong with the traditional accounting firm model. But, unlike many who moan that things aren’t right, Rob is different – he provides the reader with a wealth of ideas and inspiration to help them redesign and rework their business model. I wish this book was around when I was in public accounting, but for that to have happened Rob would have to be MUCH older!

    Steve McIntyre-Smith

  12. 5 out of 5

    Like the man himself (Rob Nixon) I’m not an accountant! I finished reading Rob’s book within 2 days of the 2011 Hamilton Island Coaching Club conference. I couldn’t put it down.
    I found the book to be absolutely fantastic! It helped me see the big picture of where proactive firms fit in the overall scheme of things.
    It also confirmed to me that we are well and truly headed in the right direction and that I can honestly consider my firm to be a proactive accounting and financial services business.
    If you are an accounting firm who wants more out of your business and wants to be able to offer more to your clients, then it is a must read. The book contains a huge amount of practical material that can be applied to your business and used from day one. If you apply only a fraction of the concepts outlined in this book to your accounting business, you will generate a huge return on your investment (ROI). If you want assistance applying the concepts in the book, then join a Nixon Advantage Coaching Club.

    As I’ve been learning in ‘Coaching Club’ it’s all about implementation. If you implement, you won’t look back.

    Jason Besters
    CEO & Founding Director – ProView Financial Group

  13. 5 out of 5

    How Peter achieved Partner profit at 70% of revenue

    We have already had some wins which is unbelievable. After learning from Rob we were talking about value pricing and what you should do with proposals and funnily enough, a couple of days later I had a client in exactly that position. Simple thing which probably normally we may charge – I do not know, $200 for – and basically popped it down on a proposal and listed the objectives etc. As a result of the value we showed, we ended up achieving an amazing result of over $600 an hour. It was only a couple of hours’ work in the end which was absolutely fantastic.

    We are ecstatic with the results we have achieved. We are now a 4 partner firm returning a profit to the partners of 70% of revenue – without working long hours. This time 12 months ago, the stuff Rob and the Coaches were suggesting we thought was ‘pie in the sky’ stuff – how wrong we were. Thankfully, we just did it and held our breath as 12 months later, it all makes sense.

    Peter Locandro
    ZJL Partners

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