How to Prepare Your SME Accounting Firm For Growth

Posted by Cedric Joshua Martinez

Feb 9, 2017 3:00:00 PM

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There will be a time where your accountancy firm will plateau, but don’t fret—that just means that you should prepare for growth. Having more desks and bigger offices is a very appealing prospect to many business owners, but you should look beyond the surface. That means more salaries and taxes to pay, higher chances of errors, and many other unseen consequences of growth. What you need is a different set of tools, because you’re about ready to step off that plateau and climb a mountain.

Your network

Relationships can drive you closer to your goals. Each offers a different, but still highly important, value to your firm. It may come in the form of referrals, or expert advice from someone who has already gone down that road. Whatever the case may be, there are things within your partnerships that could prove useful to your endeavors. You only need to maintain these relationships as much as possible.

Technology

It can do more than just make managing your firm easier through computer programs and the internet. It’s an ever-shifting science that pumps out innovation faster every year. There are new programs, new systems, and new hardware that usually runs better than the last.

As a business owner aiming for the top spot in accounting firms, you need an investment in technology to stay within the competition. Your competitors will undoubtedly adopt new technology if it means they will be able to overpass you in the market.

Current trends

Much like the technology above, trends and culture changes as time goes by. Fifteen years ago, you used your phone to call companies for products or services. Nowadays, almost every organisation can be found on the internet and has become a normal occurrence. This shift is what determines the difference between those that continue to move into the future, and those that are left behind.

Of course, don’t follow a trend simply for the sake of it. You will always come out as ingenuine and receive more negative feedback. Instead, try to research more deeply into the subject so that your firm can ease into it.

The right clients

Change within your company will echo beyond the walls of your offices. Anything new will affect your relationship with your clients, whether small or big, negative or positive. You need to keep clients that are receptive to the change that you will be implementing, or else you’ll end up with a tug of war that will leave no one happy. There are also clients that can actually help drive the change faster because they already have or on their way to adopting this change.

Third-party services

The changes may be too much for your team to bear in the first couple of months, or you may need a safety net in case of emergencies. You can look into hiring outside services to help shoulder the burden. It may cost you a little extra, but the safeguard against disastrous outcomes is worth any price.

With these tools, you’re all set to climb that mountain, ready to face any obstacle that blocks your path to the peak.


If you need a great addition to your strategy, you should look into the Cloud. It's an amazing piece of technology that lets you take your office with you wherever you go. To learn more, click on the link below to get a copy of our eBook, Cloud Solutions For Business Owners.

Download Cloud CFO Ebook

Topics: Accounting and Bookkeeping Services

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