How to future proof your firm.

Every Accountancy firm in Australia is different. Different systems. Different software. Different expectations.

The one thing we all have in common is that as the professional services industry we are all in the business of selling time.

No matter how we dress it up and say we sell solutions or how sexy we try to make what we do is (and I’ve tried it all) it all comes back to the fact that each of us in our capacity as an adviser or accountant or both.

We basically sell time.

Want to make more money, you have to find more time.

So you have to do what you can to stay ahead of the game or at least keep up with it and the way I found to do that was to have more time. The best players always seem like they have more time than the average players (think maybe Roger Federer in Tennis or Scott Pendlebury in the AFL).

Having more time is exactly the same in the professional services environment we operate in today.

Outsourcing gives you and your team more time and makes you look like star players to your clients and as we move forward the star players will stand out.

You need more time. Outsourcing will give you more time.

But what are you going to do with this additional time? Well that’s up to you.

It could be more compliance or different compliance or something different like value added work or building new client pipelines. I’d advocate using it on whatever gives you the best return on your time, which is certainly not processing.