Why your accounting firm is unique

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.

It’s not an issue that is exclusive to accountants. Lawyers offer legal stuff. Plumbers offer plumbing stuff. Banks offer banking stuff. Service businesses will offer services relevant to their sector, that’s what makes them the type of business that they are.

We get too hooked up on this issue of differentiation in our profession. There is absolutely nothing wrong with offering the same services as your competitors. You are in the same marketplace. What matters is if that marketplace can see what is different about you beyond the core services on offer.

Why does it matter?

Because, if the marketplace cannot differentiate you on the things that you want them to differentiate you on, then they will have to use what is most easily available to them such as price…and, in most cases we don’t want to play that game.

The good news is that your firm is unique.

It has elements that will always be unique.

If the market can see what is unique about you, and like it, then you are on to a winner.

But what is unique about an accounting firm if we all offer the same services?

Well. For a start off, your business name (usually), your address, your phone number, your domain name and your email addresses. You may think I’m being flippant, but these are unique assets in your business. Are you using them to their full effect?

Look at each element.

Does the wording, font, presentation reflect what your firm is all about?

Do you use this unique information in your wider marketing assets and your social media.

Remember the ‘old’ business card? All they had on them was this information, but they were (and still are in many cases) a direct link to new business.

What else is unique?

Your tangible business assets. Your office, car, tech, furniture, bags. Nobody else has your combination in your marketplace.  Again, are you making the most of it?

Do the individual assets reflect positively on how you want to make your firm stand out? Does the combination of assets work as a true reflection of the vision of your firm?

As I often say, it is your firm, and you can do what the hell you like with it!

Anything else unique on offer?

Well, of course, you may offer the same services as your competitors but only you define how you deliver them. Whether your service is delivered late in a carrier bag or early, wrapped in a satin bow and with a stringed quartet in attendance, the only limit to a unique delivery is your imagination (and budget, to be fair!)

We are now getting close to what is truly unique in your firm….you and your people. In this age of digitalisation, automation and AI, accounting remains a person to person business. Potential clients struggle to see who is the better accountant but they can quickly make a decision on who they like more. This profession has always been about the client relationship. Rather than get in the way of this, technology now gives us the time and the information to really focus on the people interfaces in our firms.

You are unique. You can hide this by dressing you, your team and your firm up as stereotypical accountants, hoping to attract every sort of client, or you can embrace your vision, values, rules, interests, strengths and (scarily!) personality and let the world see you and your firm as you actually are, on a good day, of course, as compared to how you think you should be. Build your firm as a better reflection of your vision and interests and you attract clients and team members who share your view on life and business.

And this leads us to your firm’s truly unique feature. The culture of your firm, if you allow it, will powerfully and clearly spell out why your firm is different. Build the firm that you want, as opposed to the one that you think you are supposed to have, and you stand out from the crowd.

Like I said, it’s your firm, do what the hell you like with it!