BLOG: The 5 Most Important Things for Business Success

One of the things I love about the accounting conference Xerocon is seeing Rod Drury nonchalantly cruising round the venue on his skateboard.

BLOG: The 5 Most Important Things for Business Success

I also love the opportunity to hear about solutions that can have a huge impact on an accounting practice. Digital disruption has changed the game and business development services are the way forward. With over 400 Addon partners in the Xero ecosystem now providing specialised capabilities there's huge potential for business efficiency gains. From big data megatrends to targeted content marketing, there's also a lot to take on board in this new era as finance meets technology head on.

Take action

Among the many engaging presentations in New Zealand this year was an interesting talk by Mark Jenkins, who in partnership with Viv Brownrigg is providing leadership and coaching in business development for accountants through The Gap. Mark’s challenge to all after Xerocon was to implement some of the ideas and do something different: 

  • take 3 actions today 
  • commit to change 
  • embrace technology

What challenges can you help your clients solve? Mark discussed the power of setting goals, the importance of business planning, and strategies including setting up systems to maximise efficiencies. Accountants need to be a strategic partner with the business owner, and there are 5 important things you need to consider:

  1. Mindset.  Accounting is changing, but change is hard. It takes 21 times to make a new habit and it’s easy for your resolve to weaken. Hold true to the end result, and COMMIT to change. 
  2. Strategy.  Taking time for business planning is essential. Put together a one page strategic plan and define your core purpose, value and vision. 
  3. Structure - WHO is wearing WHAT hat..? Some hats need to be passed on in order to grow successfully. 
  4. Systems.  Improve your systems and leverage the power of one to many. Gain time to focus on what is important for your business. 
  5. Accountability.  Set your plans, take action and have accountability.

Most importantly, be aware of what NOT to do. Failure to implement (FTI) and ‘below the line thinking’ are OUT.

Online presence

Many of the speakers, including Xero CMO Andy Lark, discussed the importance of a professional online presence and having a mobile optimised website. Technology is the source of differentiation - 61% of users have a better opinion of brands that offer a compelling mobile experience, and 40% of users will turn to a competitor based on a bad mobile experience. Then, of course, there's the Google algorithm change 'mobilegeddon' we posted about recently. Make sure you have the right tools for the job of business growth with a lead generating, responsive website integrated with systems such as Xero Practice Manager for best results.  

Rod Drury himself set Xerocon homework: 

  • Get a mobile optimised website 
  • Get team photos up on your website

If you need help with your homework we can help! And we promise the dog won’t be able to eat it. Contact us here for more information.

Michelle Polglase PracticePlus

As General Manager for PracticePlus, Michelle is inspired by innovation and on a mission to provide the best website solutions for accountants and bookkeepers globally.