Are you prepared to lose clients?

There are circumstances, usually beyond our control, that determine when a client ceases to be a client. The most obvious is an untimely visit by the grim reaper. This aside, the reasons for loss of business usually falls into two categories:

  1. Dissatisfaction with the service you provide or the price you charge, or
  2. Other issues.

In this post I’d like to consider the impact of one of these other issues.

Other issues for losing clients

How long is a piece of string? Retirement, sale of a business, moving out of area, insolvency, “had enough”, sickness, other family matters, and that old chestnut: deteriorating market conditions.

Regarding the last of these, are there any upcoming changes that might trigger a downturn in economic activity?

In passing, you may have noticed a lot of comment recently regarding the protracted debate about our exit from the EU. I will avoid the use of the “B” word as it’s now a bigger turn-off than “tax” and I would like you to finish reading this copy…

Contenders for the leadership of the Conservative Party are both, seemingly, committed to the possibility of a no-deal outcome come 31 October, how might that impact your clients’ businesses? And whilst you may consider that talking down economic prospects is either politically or practically inadvisable, what if – regardless of our personal opinion – we really are on the verge of a dislocation (a slow-down) in economic activity?

Optimists will say any slow-down will be temporary and the upside, when it arrives, will more than compensate for any post-exit blues. Pessimists will lean towards an increasingly depressed and extended period of recession with no apparent light at the end of the tunnel, and certainly not in our lifetimes.

Are you prepared to lose clients?

When did you last survey your clients to see who has active trading links with the EU and has concerns about our withdrawal from the EU? More importantly, wouldn’t it be prudent to draw up a list of these clients and contact them to offer a business health check?

As far as I can see, this is a win-win outcome. Attending to structural weakness now (cash flow, solvency, profitability planning, risk assessments) has no downside. Left unattended, any downturn will tempt insolvency and loss of income, whereas assessing risk and strengthening the Balance Sheet, will not only assist clients to have a better chance of surviving bad-times, if the good-times roll they will be first out of the starting blocks. First come is best served.

I can help

I have added two resources to the Landmark site in recent months. They are:

  1. Brexit information packs (assuming a no-deal outcome), videos and risk assessment tool for your website: see here, and
  2. Fee Builder, includes promotional material for business and personal financial health checks: see here.

I suspect that those of us who are content to ride out this issue – it will just be a minor blip – will temp not only fate, but also the longevity of their active client list.

Nothing like a good blurt

As many of you will be aware I edit the news copy for Informanagement. As part of this brief I also contribute blog articles. Last week I wrote about the amount of advice we professionals tend to give-away. The post is reproduced below.

How much advice do you give away?

There is a difference between flagging up an issue that could be a problem and offering a solution.

Most professionals sell solutions and so offering advice without agreeing that you be paid for giving that advice seems to be counter intuitive, and yet most professionals seem to do this.

Why is that?

Would you willingly sanction a loss of earnings for your practice?

Perhaps advisers just surrender to age old desires to be liked or respected? It is likely that during a thirty year career, accountants let slip valuable advice, let’s say twice a week, forty-eight weeks a year. If we estimate the value of each slip at say £75, this would amount to a thirty year loss of income amounting to £216,000. If we factor in the possibility that staff are prone to the same largess, the lost revenue quickly becomes a sizeable retirement pot.

Take a step back

The key to closing this drain on fee income is partly to acknowledge that it happens and secondly to rethink exchanges with clients or prospects. There will always be a temptation to demonstrate that you are smarter than your competition and this is a sound way to impress prospects and retain your clients. So, if you are going to avoid blurting out the solution to problems in order to stand out from the crowd, how can you do this without giving advice away for free?

Give yourself time to consider

A possible strategy, apart from biting your tongue, may be convert the blurt into an acknowledgement that you may possibly have the answer required, but you need to check out a couple of issues, and you will get back to them the next day. When you subsequently respond, you could say that you can fix the presented problem, but you will need to invest “x” hours to do so and your fee would be £xx. Follow up quickly with a cost/benefit statement that will convince them your fee is worth paying.

The place to start is to consider how much advice you give away. By all means keep your clients informed, this is a brilliant way to stimulate interest in your services, but don’t be tempted to blurt out the solutions.

Food for thought.

And, if you are considering an alternative supplier for your practice news feed to clients or staff, take a look at Informanagement’s offerings on their website. Or contact Laurence Vogel, Laurence.Vogel@informanagement.co.uk.

 

Cash flow and insolvency

Last week I wrote a short blog post that was distributed to Landmark’s Online Copy subscribers; this service provides two draft blog/newsletter articles a week. The topic was insolvency and how small businesses can still find themselves technically insolvent if cash flow unexpectedly dries up, even if on paper their net asset position is positive.

The article is reproduced below. Feel free to use this. I recommend that you edit the copy slightly if you post to your website as this will avoid search engines treating the text as generic.

What exactly is insolvency?

The dictionary definition of insolvency is less than illuminating, it is:

The state of being insolvent…

Listed synonyms provide more detail:

bankruptcy · liquidation · failure · collapse · ruin · financial ruin · ruination · pennilessness · penury · impecuniousness · beggary · administration · receivership · folding · pauperdom

What these explanations do not provide is a definition of the state of insolvency. A simple definition could be the insolvency occurs when we are unable to meet our obligation to settle debts by the required due date.

In a business sense, a firm can be said to be insolvent its assets are less than its liabilities, but even this definition does not quite hit the spot.

Imagine that you use all your available cash reserves to purchase stock. To place this in a current context, you might consider this as a strategy to avoid supply line issues in the event of a no-deal Brexit.

You have no issue with doing this as you are owed a significant sum by your major customer that will restore your cash flow before bills and salaries are due at the end of the month.

But what happens if your customer is suffering cash flow issues and is unable to pay?

On paper, your business will be solvent. As long as your delayed payment from your customer does not become more serious, in time your cash flow will be restored, but how will you pay your bills at the end of the month?

Without private funds that you can introduce to see you through this impasse or the support of your bank, how will your staff and other creditors respond if you have to go cap in hand and explain there will be a delay in paying them?

Cash, liquidity, really is king, and lack of cash can actually place your business in the same position as an insolvent firm.

If you are concerned that you may be skating close to a cash flow crisis or a deeper insolvency, please call so that we can help you figure out your available options. For certain,  pretending that all will work out well in the end may not be the best strategy to apply.

Take a look at our Online Copy Service

If you would like to access more written material for your newsletters or website, take a look at the Landmark Online Copy service.

 

Who do you turn to?

In practice, we all have occasions when we need the support of other professionals to deal with a difficult client issue. We collect these support contacts and they provide a necessary backup when our own skill sets are challenged.

Would you be willing to share these contacts?

In an attempt to provide Landmark’s users with a fairly comprehensive directory of these contacts, I have created a Support Directory on the Landmark site.

Would you be willing to share your expert contacts and I will approach them to see if they would like to take a slot?

No-one is an island

We all need help from time to time, and for me personally, this was especially evident during my two extended periods as a sole practitioner.

Do you specialise?

Have you developed skills in specialist areas and would you be interested in helping other practitioners who need assistance in these areas? If yes, then perhaps we should discuss adding your firm to the support directory. Give me a call, or take a look at the Support Directory information page

How is MTD for VAT for you?

In the last couple of weeks I have registered the three businesses that I am responsible for, to HMRC’s MTD for VAT data links (via Xero that I use as my preferred accounts software).

I have to say that in the main it was a fairly straight forward process. Not sure I would go so far as to eulogise “what was all the fuss about”, but definitely, so far, so good.

What about the roll-out to include accounts data?

One item that I will be fishing for in HMRC’s pond is an indication when MTD will be expanded to include the upload of quarterly accounts data; presumably for income tax in the first instance and then corporation tax. The only date we have is no earlier than April 2020…

My guess is Brexit is going to scupper that deadline and it will be pushed forward to April 2021 at the earliest. Keep an eye open for early adopter requests from HMRC as this “beta” process now seems to be a feature of their development protocols.

Are you encouraging property landlords to digitise their record keeping?

One aspect of the next MTD roll-out will be the inclusion of buy-to-let and other landlords if their rental income exceeds £85,000.

My guess is many will be reluctant adopters of the digital need to record transactions. This has been my experience of talking with clients who would be affected.

In spite of the uncertainty, I am working on a standard chart of accounts that I can use in Xero for these clients, and there are significant advantages as I will use the software to collect capital payments (property acquisitions and improvements) as well as revenue transactions. Xero also has a useful “tracking” facility that I will use to provide clients with detailed results for each property; something that is not particularly easy when records are kept manually, or worse still, in a carrier bag.

What has been your experience?

I’m interested in canvassing the opinion of practitioners about their experience using the sign up process for clients.

If you are willing to share your experiences, good or bad, just add a comment to this blog post and I will make sure that the constructive comments are bundled (anonymously) and sent to HMRC for a reaction.

I have direct links to the department that has been responsible for developing the MTD API’s etc, and in the fullness of time I will post again with any interesting responses or developments.

 

I’ll eat my hat…

I am amazed by the willingness of many practitioners to leave money on the table.

And yet, looking back to my own time in full-time practice, I can see that I was as guilty of the same lack of foresight. Driven by the clock, by countless phone calls and numerous interruptions by staff. There was barely time to deal with what was in front of me let alone consider other options to increase client service levels and our fee income.

Low hanging fruit

Whether you are still in the heady days of initial growth, spurred by plentiful referrals, or on the downward slope of an ageing client base, pressure on fees from unqualified competitors, you are likely to be missing a trick or two to capitalise on your endeavours.

You have already met the cost of acquisition of your clients and are no doubt providing the services that met their needs when you were first engaged as their adviser, but what about other services you could be providing? These opportunities are your low hanging fruit: they are in easy reach and you will already have the ear of individuals who are willing to sit and listen to what you have to stay.

Cost benefit considerations

If you are selling additional services to clients, there is one aspect of your approach that you will need to take into account: the perceived benefits of the advice you want to provide must always exceed the cost of your time, and their co-operation, in taking the advice.

Often times this will be evidenced by a reduction in a present liability, a reduction in risk and associated anxiety or by creating some future benefit.

Do you have a cross-sales program for your practice?

If the answer to this question is no, or you have a nagging suspicion that you are leaving money on the table, then consider the following challenge.

I’ll eat my hat

Now we get to the nub of the OTT title of this post. I will, hypothetically, eat my hat if during a short phone call I cannot identify at least one campaign that you could use to increase cross-sales to your client base.

All it will take is lifting the phone, or email with a time when you are available to speak.

Bob Edwards: m 07879 896073; LL 01723 363133; email bob@landmarkpd.co.uk.

 

 

Always expect the unexpected

What are the challenges to our fee income 2019-20 and beyond?

Grudge purchases

For most business owners it is hard to place a value on costs that merely keep Her Majesty’s government off their backs: filing annual accounts and tax returns. This annual compliance chore is often completed well after the accounts period end date  and is a fait accompli.

Fait accompli is an interesting phrase. It is defined as “a thing accomplished and presumably (presumed) irreversible”. In other words, any advice we as advisers give – on these historic numbers – will be received as a “I told you so” remark. What clients need is something relevant what they are doing now.

As far as we can ascertain there are no upsides to after-date compliance work other than meeting filing deadlines and tax payment deadlines.

What percentage of your fee income is pure compliance?

This is an interesting question.

Most practices, especially smaller practices, will likely have a significant proportion of their fee income generated from the supply of pure compliance services.

If so, and if you accept that clients, by and large, see your fees as a grudge purchase, then it makes sense to take a fresh look at the services you offer and consider how to transform fees into services that have perceived value.

What are valued purchases?

The phrase “value added” has been bandied about in our profession for many years. It was sold by practice development pundits in the 1990’s and beyond as a way to increase fees by repackaging compliance work and representing to clients – for vastly increased fees – as “Business Builder” or specialist tax-mitigation services.

For the average, smaller business owner, being exhorted to buy tax planning or business development services is rather like selling leather seat options to a car owner that just wants a seat cover to hide the mess his kids have made – and will continue to make.

What is actually required is a strategy to transform ALL the services we offer, and that we are paid for, as offering the client value, and importantly, value that seem relevant and appropriate to their circumstances.

The way forward?

If you want to engage in this process, to transform grudge into valued, take a look at the ideas I have shared in my Fee Builder workbook and associated features. In my opinion if you stick with the “grudge” services, you will likely continue to leach fees to less qualified practitioners, and to accounting package software developers, who will soon be adding an annual accounts and tax return facility to their offerings.

The door is steadily closing on markets that we have traditionally considered to be our sole domain, and there is no future in relying on the past for inspiration.

Read more on this topic:

Add new income streams to your practice

 

What’s next? An optimistic outlook.

I would suggest that as advisers to the UK business community we can offer constructive advice that will impact clients ability to weather the expected fallout from our likely exit from the EU, or indeed to exploit any longer term advantages that may arise. But rather than focus on the will-it won’t-it happen unknowns, could we not prepare for either outcome?

Business fitness

We are ideally placed to promote business fitness, and there is no logical reason for not pursuing this course of action. The question is, are we?

Are you lobbying your business clients to engage in a constructive “business fitness” program, such that, whatever the Brexit outcome (or projected economic downturn), your clients will be in good shape to weather any turbulence?

I’m thinking common-sense issues, converting current assets into cash, utilisation of resources, etc, etc.

Fee building 2019-20

One likely spin-off if you promote business fitness is an increase in your recurring fees. Another is converting purely compliance activity into services that have perceived value.

In my recent Fee Builder publication, the promotion of Business Fitness programs with clients is just one of a number of service options that I believe you could introduce during 2019-20.

Eleven ideas to super-charge your recurring fees for 2019-20

If you are interested in taking a fresh look at your service offerings, and thus providing clients with more choice and value, then I have written up eleven suggestions for how you could develop new income streams this year.

Take a look at my Fee Builder options here>

Eleven strategies for leveraging existing and new services into recurring services for 2019-20

 

 

Where do we go from here?

Where do we go from here?

Here’s two ideas for you to consider

  1. Offer annual accounts prep and a business tax return for free, and
  2. Offer your management accounting skills to high net-worth individuals.

And before you reach for the delete button, consider these alternatives.

Downward pressure on compliance fees

This is no urban myth. Those of you who rely on compliance fees to bolster your fee income will be acutely aware that this is considered to be a “grudge” purchase by clients.

Accordingly, the only real value of these services is to ensure accounts are prepared and filed before filing deadlines and tax is paid on or before the due date.

And there seem to be an ever growing group of super-charged bookkeeping firms that are willing and able to do this work at ridiculous rates.

Last, but not least, is the emergence of AI, or more particularly, accounts software companies who will start to add annual accounts and tax compliance to their accounting products.

And so, if the value is dropping out of number-crunching, where are specialist, and highly qualified firms going to create their recurring income streams in years to come?

Back to the future

Any change process encourages the emergence of pathfinders, those individuals who can sense that the wind is changing and that sails need to be reset, and while the majority blissfully do what they have always done, these pathfinders gather in the low-hanging fruit.

By the time the rest of us have woken up to the new opportunities this low hanging fruit, and much else, will have disappeared. And the pathfinders will be moving on to exploit new opportunities.

Eleven ideas to super-charge your recurring fees for 2019-20

If you are interested in taking a fresh look at your service offerings, and thus providing clients with more choice and value, then I have written up eleven suggestions for how you could develop new income streams this year.

Take a look at my Fee Builder options here>

Eleven strategies for leveraging existing and new services into recurring services for 2019-20

Add new income streams to your practice

AI and the mechanisation of manual processes are likely to lead to downward pressure on the pricing of repetitive services.

No where is this more apparent than when considering the delivery of compliance services to clients. Your fees for preparing accounts and returns to meet HMRC and Companies House obligations are generally considered to be “grudge purchases” by your clients.

The demise of pure compliance services

Will this automation of compliance activity continue to drive down prices? In my opinion, yes it will. The solution is to side-line accounts preparation and tax return submission into a free service!

Fee Builder 2019-20

I have recently written a workbook that illustrates how this can be done.  The workbook includes eleven strategies for re-creating existing services, and creating a number of new recurring services.

One of the strategies promotes the repackaging of bookkeeping, compliance work and periodic reviews as a Business Fitness and Planning Review service. A description of the service would be something like this:

We can take over all your paper-work chores, produce regular management accounts, deal with any issues arising and handle your VAT and payroll filing requirements. And if you sign up for this service, we will produce and file your annual accounts and business tax return FREE OF CHARGE.

This places the value and cost on the benefits instead of just dealing with pure compliance obligations.

The workbook also promotes a new look at the following services that can be reviewed annually:

    • TAX PLANNING REVIEWS
    • COMPANY SECRETARIAL SERVICES
    • CGT FORECASTING AND PLANNING REVIEW
    • IHT FORECASTING AND PLANNING REVIEW
    • BUSINESS EXIT PLANNING

And the following “new” service delivery ideas:

    • PERSONAL “END OF LIFE” OR DISABILITY PLANNING
    • PERSONAL FINANCIAL ACCOUNTING REPORTS
    • GDPR REVIEWS
    • BUSINESS SYSTEM CHECKS, and finally
    • REGIONAL TAX PLANNING

Also included in the Fee Builder bundle

Fact sheets that highlight the above, that you can adopt and send to clients and prospects as part of your marketing campaigns, and an updated copy of my TAX PLANNING ROAD MAP for 2019-20. This latter publication has a wealth of check lists and draft emails that can be used to approach businesses, personal tax clients and property owners about tax planning opportunities.

I will also give all purchasers of Fee Builder 30 minutes of my time to settle on at least one application of the ideas shared that can be integrated into your service offerings for 2019-20.

Interested in Fee Builder?

Visit our Fee Builder page for more information about the product.

Obviously, I cannot disclose too much detail online otherwise the intellectual property that makes up this service would be compromised. If you are still uncertain if Fee Builder would be of value to your practice call me anytime on: 07879 896073.

Bob Edwards – April 2019

MTD for VAT video promotion

As part of the Landmark Tax Box service, our April 2019 video covers the MTD for VAT changes from 1 April 2019.

Do you offer an MTD for VAT service to clients?

If yes, and if you promote the service on your website, why not acquire the rights to have a branded copy of this video displayed on your website?

According to published research, video content is more likely to capture the attention of site visitors than text. Adding video content will also beef-up your profile with the search engines.

Do you have a YouTube channel?

Out Tax Box videos will help you build a useful series on your YouTube channel, and if you don’t have a channel as yet, use the MP4 files that we provide as part of the Tax Box service to create one for your practice.

You can link the videos to your Twitter, Face Book and other social media outlets.

Introductory offer – 50% discount

Each quarterly video costs £260 plus VAT for the branded version and £195 plus VAT for a generic version.

The Tax Box service is provided on an ongoing subscription basis, but you are free to cancel this subscription at any time.

If you are willing to try out this service, and if you sign up before 1 April 2019, we will discount your MTD for VAT video subscription by 50% – this offer is for new subscribers only.

This reduces the cost of the April 2019 video to £130 plus VAT for the branded version and £97.50 plus VAT for the generic version.

Watch video here

This is the pre-release version of the MTD for VAT video, your copy would be branded – your logo and contact details are added – if you select the TaxBox plus option prior to publication. The reference on the title bar to Tax Box would be removed.

Complete online order form to secure your 50% discount

Complete before 1 April 2019 to qualify for 50% discount

The order form will not display the discount, you will automatically receive the reduced price if you submit the order before 1 April 2019.

Dither or act

I suggest that a contemporary definition of dither be changed to reflect the way that politicians of all shades have handled the EU withdrawal agreement. Good job these people don’t have to manage a business.

18 months to purchase a book

And maybe I should include myself in this definition. When in full-time practice I remember taking eighteen months to make a decision to buy a Tolley’s tax planning book.

The hapless sales person would ring me dutifully every month or so, to be requested to call back in a further two-months. Eventually, the game of cat and mouse concluded and the book was acquired.

Which brings me to the point of this post.

How many decisions have you declined to make recently?

What I have discovered, is that the older I get, the less tolerant I have become regarding incomplete tasks. I made the mistake some years ago of visualising a sack I carried in which all my deferred actions were parked – I’ve no idea how heavy this bag became, before I started to empty it, but the contents had a way of haunting me.

The incomplete items became a growing distraction. The sack of deferrals required periodic reviews and as the sack filled, this process  was taking up too much attention, too much time.

Lightening the load

As with all effective strategies, the solution to my problem was really simple: I spent less time considering what to do and spent more time doing stuff. All pretty obvious.

How did I do this? I purchased a Paperchase “New Week, New Goals” booklet. This allowed me to empty the sack and create a list of absolutely everything that was incomplete, or that I needed to revisit at a later date. I then planned what I was going to achieve to shorten the list in the following week; the remainder of my uncompleted actions stayed in the book. After a few months of using this process the deferred list started to shorten and the weight on my back, on my attention, significantly diminished.

I update this book every Sunday night and I can’t tell you the pleasure it gives me when a task is highlighted as completed. And if a chore is left undone, for whatever reason, it just gets moved forward.

This system may not suit everyone. However, there are a few up-coming challenges for our profession and the UK business community that will demand a certain dexterity and agility. Being weighed down by your internal to-do lists and their constant need for attention, is possibly not the smart way forward.

 

 

Opportunity knocks, again

OPPORTUNITY: a time or set of circumstances that makes it possible to do something. The opposite of which is usually described as misfortune, tragedy and failure.
PESSIMIST: is a mental attitude in which an undesirable outcome is anticipated from a given situation.
OPTIMIST: is inclined to be hopeful and to expect good outcomes from a given situation.
I my opinion these three words shape the way we react to a changing business environment and it is worth pausing to reflect on where we fit on the sliding scale?

Opportunity/Optimist

This is one extreme position. With these beliefs there is always a tendency to “look on the bright side of life”, to search for outcomes that prove the belief that there is always win-win outcome to any given situation. At it’s most effective, this combination drives innovation, it’s a creative force. At its most ineffective, this combination would have us drive off the white cliffs confident in the belief that the cliff edge is an illusion and the road continues into the wide blue yonder.

Misfortune/Pessimist

At this extreme, we cannot cope with the idea of a constructive outcome, the downside risks are the only criteria that seem to hold water. Pessimist would not even get in the car, they would simply watch the unfortunate spectacle unwind and feel an agreeable sense that the universe has once again proved that misfortune, tragedy and failure have prevailed.

Where do you sit on this scale?

Take a few minutes to consider where you sit on the seesaw that determines your reaction to changing circumstances.

I like the analogy of the seesaw. It’s easy to conceptualise that at either extreme we experience the most movement: for movement you could substitute the range of our feelings or the inability to appreciate an opposite point on view. In fact, there is point, a fulcrum point, half-way between the two, where there is relatively no movement, and this, I believe, is where we need to sit when making decisions about our future courses of action.

If we are optimistic and opportunistic in outlook we should draw breath and see if the opposite point of view offers any constructive checks and balances that will allow us to reach a sensible conclusion. And the same process would apply to the pessimists if they drew breath and took stock of the optimists point of view.

Taking a fresh look at current challenges

This week, the outcome of the Brexit conundrum should be decided. Next month, MTD for VAT kicks off. Next year, we may see MTD rolled out to embrace the upload of accounts data. Eventually, I am sure that HMRC will pursue Pay as You Go – quarterly payment – of self-assessment liabilities. There is a LOT of change in the air for the accountancy profession and it’s time that practitioners lifted their heads from the daily grind, aware of their tendency towards the above dichotomy, and figure out just how they are going to respond.

Fee Building

In conjunction with feedback from practitioners, I am writing a planning resource that firms can use to rise to these challenges. It examines the possibilities to re-frame existing, recurring – and mostly compliance – services, and add a bunch of new recurring services. I am hopeful that my approach will prove useful, and profitable, to both the optimists and pessimists out there…

I should have this ready to launch before the end of this month.

– posted by Bob Edwards, 12 March 2019.

 

Support services for professional practices

The Landmark Support Directory – where you can find third-party support for a variety of issues – is starting to fill. There are presently nine firms represented.

Present service support available

Topics covered include:

Easy to use CA claims calculator

The first to sign up, the Capital Allowance Review Service, has recently posted a blog article covering how tax payers can reduce taxable income by claiming capital allowances. There is a useful link at the end of the post to an online “Claims Calculator“. Worth a look as this would provide you with an estimate of CA’s available for a wide variety of capital acquisitions by clients.

Could you provide colleagues with support on specialist topics?

Do you, or could you, provide specialist support to firms on complex tax issues or other professional service matters?

Take a look at the Support Directory here.

If you are interested in adding your details to the directory, information on how to do this and the costs involved can be accessed here

 

Need help?

All of us need help to identify our strengths and weaknesses and use this information to grow and prosper in today’s challenging business environment.

If you are just setting up a new practice or have reached a glass ceiling in the development of an existing practice I may be able to help.

Why objectivity is critical

A professional practice is a reflection of the skills and ambition of its owners. Unfortunately, what we lack as individuals is the ability to be objective, to see ourselves and our practice as others see us. This is the barrier that most practitioners never consider and it can have dire consequences.

For example, in the constant rush to deal with clients’ affairs we rarely give much thought to the development of new income streams for our practice beyond the need to meet the compliance demands of the businesses and individuals we act for, and yet the seeds of many of those additional income streams are already sown.

Unravelling and releasing potential is mostly a matter of identifying opportunities, and these opportunities need to be relevant and readily communicable to clients and business prospects. You can’t sell processes, you can sell benefits.

Like an objective assessment of your practice?

If you would like to work on your practice can I suggest that you call me to discuss how I may be able to help you develop a grounded development plan for your business.

Initially, we just need to discuss options to see if a collaboration would be appropriate. Email bob@landmarkpd.co.uk or call me anytime 07879 896073.

How much would this cost?

If we decide that there are realistic opportunities to explore, benefits for your practice, I will book a day’s appointment with you. I will charge an initial booking fee of £500 plus travel costs which is payable in advance and is non-refundable. The balance of my fee, £1,500 plus VAT would be payable at the conclusion of our consultation and is subject to the following guarantee.

I do offer a guarantee.

I will give you an opportunity to assess the ideas and benefits we have discussed mid-day and if you consider there is no value for your practice then no further fees will be payable and I will leave. Thus far, no practitioner I have worked with in this way has called in this guarantee.