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Comment on Social media policies for accountancy firms – think MLR (part one) by Jenni M.

Jenni M. — Wed, 15 Feb 2012 11:25:24 +0000

We have a social media policy that is based around the idea that we want to integrate social media into as many areas of the company we can (ie customer service, recruitment, communication). We use the policy to lay out the framework that our staff can be comfortable working within. Everyone should know the difference between what is appropriate to talk about and what might cause some issues. Beyond that, we want our staff to have the freedom to both enjoy social media and make the experiences enjoyable for the people they’re interacting with.

Comment on Social media policies for accountancy firms – think MLR (part one) by Andrew Nixon

Andrew Nixon — Wed, 15 Feb 2012 09:14:20 +0000

I spoke – well mostly, listened – to a mid-sized firm in Nottingham the other day about social media. They were in an unusual position in that they could genuinely gain from a firm Facebook presence as they have a number of young clients (and therefore a sort-of specialism) in showbiz. Their idea was that they could effectively generate referrals from these clients by having a profile that clients could easily point their friends to. However they have actually banned junior staff from befriending clients on their personal FB pages for fear of inappropriate representation of the firm (ie. pics of them drunk in nightclubs etc).

Comment on “January was hell – and it was my own fault” by Hhgh Dunlop ACIS, FFA,FIAB

Hhgh Dunlop ACIS, FFA,FIAB — Tue, 14 Feb 2012 13:49:43 +0000

I have several clients who work under the CIS system. Even though I impress upon them that it is to their advantage to submit their SA as soon as possible in order to get any tax rebate due immediately, most seem content to wait until the last minute and lose out on months of interest. They also seem happy to pay the premium fee rates charged for January filings.
The idea of a monthly fixed charge is appealing, but does not generally work in Scotland. As SAs are filed in a ‘onner’, the Scottish attitude is that nothing is paid in advance before the goods or services are received (Shades of Farepak)
They will however pay on time for wages and quarterly VAT returns.
But it seems that last minute filing of accounts may be here to stay.

Comment on Thanks for that by Kevin Offer

Kevin Offer — Mon, 13 Feb 2012 12:06:09 +0000

‘Accountant who wondered what happened to people who said they were not accountants’.

Well, partly true as I trained as an accountant but work solely within tax now. As such I’ve thought that rather than receive tips or use the Tax Advice Network I should probably be providing something back to the profession. Until then, “Accountant who doesn’t call himself an accountant” would probably be a better description and feel free to keep me on your mailing list.

Best wishes,

Kevin

Comment on Examples of good facebook pages for accountants by Elizabeth@ Chartered Accountant

Elizabeth@ Chartered Accountant — Thu, 09 Feb 2012 22:47:26 +0000

I think you hit the nail on the head, the target market is what makes the difference. I am in my twenties (feeling a bit paranoid about admitting my age). People my age are the ones who are using Facebook to make consumer choices, not the 40 years olds who are likely to be the ones in business. In 10 years I would argue that have a page would be of supreme importance, but not yet.

Comment on Thanks for that by Peter Bohm

Peter Bohm — Tue, 07 Feb 2012 11:14:01 +0000

solicitor

would it still be useful to attend networking event? – might be a good idea!

Comment on What’s your approach to the provision of ‘business advice’? by Mark Lee

Mark Lee — Sun, 05 Feb 2012 08:12:19 +0000

Many thanks for all the comments and discussion on this thread. I will return to the subject later in the year.

Comment on What’s your approach to the provision of ‘business advice’? by David Lewis

David Lewis — Wed, 01 Feb 2012 14:37:09 +0000

James

Thanks for your insights.

Regarding the inequality in terms of referrals. One of the accountants I work with has told me outright that he sees me firstly as a supplier. If accountants expect quid pro quo referrals, then they are likely to be disappointed. The main benefit to the firm is not referrals; it is about enhancing their offering (ergo: retaining clients and growing). Having said that when referrals happen they are quite likely to be fairly chunky.

Your comments about engaging firms more strategically is much appreciated. Certainly gives food for thought! It does makes sense, although I guess for some firms partnership dynamics might also come into play!

Comment on What’s your approach to the provision of ‘business advice’? by James Mason

James Mason — Tue, 31 Jan 2012 12:45:54 +0000

Hi David,

I agree with your points. We VERY rarely see a formal relationship / alliance work between an accounting firm and an external advisor. You have noted many valid reasons for why it doesn’t work but I would also add that it’s very difficult for there to be equality in the relationship in most cases as one party is typically doing 95% of the referrals but getting little in return. The rare ones we have seen work have a clear win – win, trust, similar values and they a good operators.

We have seen various models work to avoid all these ‘barriers’ where:

1. The partner drives the coaching relationship (so quarterly meetings, discussing strategy, helping set the vision) and brings in a facilitator for more specialist tasks, larger group work, technical consulting.
2. Soft ‘referrals’are given to a range of providers. By this i mean there is no formal alliance but the partner knows of a greater facilitator who can run a specific workhop for 40 people (that they aren’t confident to do). They suggest the client has a coffee with that person but makes up their own mind on whether to go with that advisor or not. This reduces the ‘risk’to the firm if it doesn’t work
3. A Virtual team of soft ‘referral’ sources can then by developed around the firm to cover areas clients need help in but the firm doesn’t want to deliver as it doesn’t fit with their valiud strategy. This virutal team of advisors can then be chopped and changed over time based on feedback and delivery quality. The great news for the firm is this has a much greater tendancy to get referrals to them also as the advisors in the virtual team aren’t soley reliant on referrals from one sources (so are self starters) and will typically be good networks / connectors.

Again it comes back down to the firms strategy and desire to grab more opportunities (some are happy with status quo) as to what option (if any) they adopt. For the advisors tapping on accounting firms doors wanting to create a relationship if they first thought through the 3 options (to address the barriers) i’ve listed above and thus tackled the discussion with the firm strategically (rather than falling into the trap of just suggesting an alliance) they may have a better chance of a successful relationship.

Comment on A twitter case study for accountants – and key question by Andrew Nixon

Andrew Nixon — Tue, 31 Jan 2012 11:43:24 +0000

Elaine uses Twitter brilliantly, but her firm image is uniquely consistent with Twitter’s strengths – informal, chatty, modern. “Cheap Accounting” is a genius brand but is the opposite of how most firms want to appear. In terms of applying Elaine’s case study to the accounting profession generally, I’d say she’s the exception that proves the rule.