There’s something very remarkable about the work that accountants do to transform the lives of their business-owner clients, impacting the results of their businesses and enabling them to feel a sense of pride, satisfaction and passion for the work they do. In this podcast discussion with Andrew Botham – accountant, business owner, guide, consultant, whatever label you want to give him – he share some stories about how, with two or three numbers – not numbers that show up in the balance sheet or the P&L, but a just a few numbers – you can help business owners see sense and make decisions that turn a business that's generating £300k in profit per annum into a business that's generating £927k in net profit every month. This is because, as accountants, they help the business owner zero in on a handful of KPIs, asking a handful of questions and encouraging the business owner to make a handful of key decisions. I've worked with Andrew in the past, and it was a delight to have him on the podcast to unpack his simple, effective ways and means of running client discussions and helping business owners transform their results. Please scroll down this episode page for the contact information for Andrew and for the additional, downloadable resource mentioned in the podcast. |
The Solution:
I think what would be good if the ACCA and ICAEW put together something simple, that was a basic structure, like accounts, that just encouraged accountants and business owners to track three numbers.
Just track three important numbers in your business and keep tracking them, track them religiously, week in, week out, month in, month out, quarter in, quarter out, year in, year out.
Find out what they are, and just keep tracking and driving them forward. If it was as simple as that it would make a profound difference. If they could be encouraged just to look at three key numbers, just have some simple conversations around those three key numbers that would help business owners immensely.
SHOW NOTES
Connect with Andrew
Connect with Paul
Resources relating to this podcast:
During the podcast, Paul and Andrew discuss the merits of KPIs for both the team and the clients. Andrew talks about the value of measuring just a few numbers – and they're not always financial; the non-financial ones are just as important. He shares some great stories about how and why you should measure these numbers and the difference it has made to the businesses he has worked with when they tracked and measured the right things at the right time.
Most accountancy firm owners and managing partners measure what they think is right rather than measuring what matters most.
We know accountants love to track and measure – let’s make sure you track and measure the right things in your firm. Click here to read this Business Breakthrough report – Healthy Heartfelt KPIs – and discover how to use them as key PREDICTIVE indicators.
