In the accounting industry, we have a plethora of software tools available to us. We often think that investing dollars in this software will get our holes dug. But the software programs are just like a shovel - they are simply tools.

We are seeing some positive signs in the Australian accounting industry. If you haven’t already, check out the latest The Good, The Bad & The Ugly Report which provides annual benchmarking figures on the Australian accounting profession and a snapshot of a typical firm.

There are some guidelines to launching new products, that you really should consider. These apply to any type of business, not just to professional services. Sam Dean talks about the three things you must know…

Finding out and understanding what our clients want at all levels, is at the core of effective client engagement. How do we find out what our clients want, unless we straight out ask them? Also, if we can ask them in a systemised and driven way that collects and prioritises their responses as well as establishes their gaps, then this is more powerful.

Technology only makes you more efficient at what you are already doing and if you’re not already doing it or have a structured approach to starting to do “it”, there’s no use paying for technology.

Estate planning - a unique opportunity for engaging and adding value to your clients. Mark Holton gives us four key steps to achieving recurring client engagement in the estate planning process for accountants.

One key question I seem to get asked regularly is; what’s wrong with being a compliance practice and why should I add new services when we’re already flat out? Both good questions however, with limited growth potential. Let’s consider a few key points.

The power of the follow up is probably one of the most under-utilised sales strategies ever. In fact according to the National Sales Executive Association a staggering 48% of sales people never follow up with a potential client. If that scary stat doesn’t stop you in your tracks, best you ask your sales people if they are the chosen ones!

So the question begs, if it is so powerful to follow up why do so few people engage in doing it?