Avoid being a drifting firm

Richard Brewin • September 17, 2018

There are times when simply drifting along can seem very tempting. Going with the flow. Taking the path of least resistance. Seeing where the winds takes you. When the pressure is on and stress levels are rising then they all have an appeal.

In fact, if you’re happy with the direction along which you’re being taken and the pace you’re moving at suits you then why not? Let’s not go looking for obstacles just for the sake of it.

Hot air balloon pilots earn the right to drift along. They don’t just role up, inflate and go. Hours, days even, of preparation go into giving them the best possible chance of drifting in the right direction and at the right speed. The prevailing wind, temperatures, metrological conditions, loads and so on are all carefully monitored and assessed before a route can be planned and a take-off point selected. They may be drifting but its drifting to a plan.

Accountancy firms can end up drifting for less considered reasons with frustration becoming the final destination. The absence of a current a plan. A failure to actively manage the plan. Complacency. Avoiding the difficult decisions. Evading challenges. Any of these can leave those at the helm with the frustration of not knowing where they are going or the sense of feeling not fully in control.

There are simple steps to check whether you are drifting:

  1. Can you write down your current goals? Where are you going with this?
  2. Can you list your key actions for the next 3-6 months? Not your task list, but the steps that take you towards your goals.
  3. Can you put in numbers what you expect your firm to look like 12 months from now? What’s your forecast fee income, gross profit %, net profit, drawings, staff numbers, client mix?

For a focussed firm this is all information readily to hand. If it’s a struggle, and I fully understand why this may be the case amongst the realities of running a practice, then it’s time to stop the drift and get yourself back in control of your journey.

Being proactive is a culture, not a slogan

By Richard Brewin • June 27, 2025
Look at any accounting firm website and there is a fair chance that the word ‘proactive’ will be prominent. Ask some business owners and taxpayers whether they consider their accountant to be proactive.  There is commonly a gap between the two, between the intent of the accountant and the expectations of the client.

How tech helps us to rebuild our trusted advisor role

By Richard Brewin • June 23, 2025
The tag ‘Trusted Advisor’ gets bandied around a lot. Without trying to be deliberately contentious, I often challenge its use. Undoubtedly, accountants were once the trusted advisor to their clients. When I came into the profession 44 years ago now, the older partners, especially, were seen by their clients as their trusted advisor, their ‘go to’ person on any issues, business, family or personal, that were troubling them. Without the filing deadlines of today, these clients were with their accountant primarily because they valued the relationship rather than the products.

Why your accounting firm is unique

By Richard Brewin • June 5, 2025
All accountants are the same! We’ve all heard it said. It’s nonsense, of course, but, when you are asked what it is that your firm does that differentiates it from other accounting firms, it can be a challenge to come up with something tangible.  Accounting firms tend to offer similar services, that’s what makes them accounting firms. Differentiating from competitors based upon services provided is therefore an issue.