ESS BIZTOOLS Podcast (Accountant's Minute)

Business Advisory Services Podcast - Growth vs Capacity

Featuring Trevor Marchant of Marchant Dallas, this podcast discusses the latest article produced by The Boss Factor Library.

Deciding to go? - The GIANT AWAKENING

The '2024 NAB Accounting and Financial Planning Report' revealed that 85% of surveyed Accounting Firms are “offering business strategy”, emphasising the growing importance of Advisory Services in the Accounting Industry. While the report highlights the significant role of ‘Advisory Services’, it prompts a crucial question: Is your Accountancy/Bookkeeping Firm prepared to ‘DELIVER BUSINESS ADVISORY SERVICES IN 2024’?

HR and Business issues facing SMEs in 2024

Peter Towers, Managing Director of ESS BIZTOOLS and Jordan Lowry, Managing Director of Blackstone Business Group discuss HR and business issues facing small businesses in 2024.

AM367 - Winning Strategies for 2024 - Strategy 2

AM366 - Winning Strategies for 2024

AM358 - Creating New Services

AM356 - Value Adding With Special Services

AM352 - Predictive Accounting

Implementing "Monitoring Performance" helps SMEs to "scale up"

This podcast episode recaps Issue 357 of Accountants Minute, the fifth segment of the discussion with Andrew Geddes about important issues currently facing the Accounting industry. You can also access our podcast on: Amazon Music Apple Podcasts Audible Spotify YouTube

Accountants must diversify now: top industry advisor

When Andrew Geddes speaks, smart accountants listen – they’d be crazy not to! This podcast episode recaps issue 351 of Accountants Minute, where we highlight our recent interview with Andrew Geddes, a co-founder of the FMRC and former Chair of Greencross Pty Ltd. Andrew issued a timely warning to accountancy firms that they need to diversify and to do it now. This episode also provides the why and the how of this particular warning. You can also access our podcast on: Amazon Music Ap...

New Horizons: the move from compliance to consultancy

This episode looks into Issue 350 of Accountants Minute, where accountants are reminded that launching advisory services should be a high priority for the last quarter of 2022/23 financial year. You can also access our podcast on: Amazon Music Apple Podcasts Audible Spotify YouTube  

A deeper dive into the virtual CFO services

This episode discusses the key components of the "52-week business enhancement system", which is the main topic of Accountants Minute Issue 349. You can also access our podcast on: Amazon Music Apple Podcasts Audible Spotify YouTube  

The past has no future!

This podcast episode is based on Issue 348 of Accountants Minute, which provides commentary on Thomson Reuters' recent White Paper, Leading Australian SMEs in 2023's Changing Economy. You can also access our podcast on: Amazon Music Apple Podcasts Audible Spotify YouTube    

Maximising R&D tax benefits: a guide for accountants and bookkeepers

This podcast discusses Issue 347 of Accountants Minute, which explains why accountants and bookkeepers should diversify their services by providing R&D assistance to their SME clients. You can also access our podcast on: Apple Podcasts - https://apple.co/3XQ4p9z Audible - https://adbl.co/3YTdnEh Spotify - https://spoti.fi/3YWjbgj YouTube - https://youtu.be/2rbUNgcbous

Services you offer affect your talent!

Based on the recent report from Commbank's Accounting Market Pulse, "the only limitation they face is the worsening talent shortage." This podcast looks back into Issue 346 of Accountants Minute, where a point was raised on how accountants and bookkeepers are facing this particular issue and ways of overcoming the hurdle of talent shortage.

Is your practice roadmap on target?

This podcast episode presented reasons why Business Advisory Services is the best way to add value to your accounting and bookkeeping firm and, in turn, add value to your SME client's businesses.

Implementing Your Client’s Vision

This episode talks about how you, as an accountant, can guide your SME clients on their "innovation journey" and help them commercialise their inventions. This episode also identifies the steps you need to take with your SME clients to turn their prototype into a profitable, commercial sale product, and mentions a way for your SME clients to claim Research and Development incentives from the government.

e-Newsletters – a Vital Communication Tool for Accountants

read more: https://www.essbiztools.com.au/ess-biztools-blogs/e-newsletters-a-vital-communication-tool-for-accountants

Want to know more about the Accounting Revolution?

ESS BIZTOOLS is in the process of reconfiguring our product packages following the strong response we have received from the webinar, presented by the Academy of CPAs (Certified Predictive Accountants) 3 weeks ago, when Adam Hale, partner Summit CPA an American accountant who was described by the Managing Director of PlanGuru as an “accounting industry rockstar”, gave an outstanding overview of the Virtual CFO Service that his firm had introduced for their clients. More: https://www.essbiz...

It’s a New Business Model

Peter Towers comments on the following: podcast last week with Andrew Geddes “It’s a New Business Model – I think it is going to revolutionise the sector globally.” Predictive Accounting webinar presented with Paul Barnaby, Beyond Accounting Technologies; Holiday Package promotion.

Where to for Australian Accounting Industry in 2022-2023

Peter Towers, Managing Director of ESS BIZTOOLS and Andrew Geddes, Director of Andrew Geddes Pty Ltd, discuss “Where to for Australian Accounting Industry in 2022-2023”

Lack of Challenging Work Creating Talent Shortages!

Accountants are facing a worsening talent shortage according to the recent edition of CommBank’s Accounting Market Pulse. In November 2021 “Australian Accounting Guru” Andrew Geddes indicated that “partners of accountancy firms are saying there are not enough young accountants, but no, there are enough of them, they have chosen not to work in the profession because they have been asked to do compliance work only and to obtain 80% productivity which has caused people to say – I’m not sure I...

Sneaky Clients who miss out on Big Rewards

Are your clients carrying out research and development activities behind your back? You might be surprised to discover that many SMEs conduct their research and development activities in total secrecy. That’s because they’ve been scared off by blogs and articles warning about confidentiality and protecting intellectual property. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=447&Itemid=639

Diversification, Why Accountants Shake In Their Boots

How often do you take the time to step back and catch a high-level view of your accountancy practice and the way it’s performing? Most of us are too busy doing the things we do day-to-day to meet our clients’ tax needs.  We just don’t get the time to take that helicopter view as often as we’d like. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=446&Itemid=639

The State of the Accounting Industry in Australia

How often do you take the time to step back and catch a high-level view of your accountancy practice and the way it’s performing? Most of us are too busy doing the things we do day-to-day to meet our clients’ tax needs.  We just don’t get the time to take that helicopter view as often as we’d like.

Crowd Sourced Funding Equity Raising – Is It For You?

If you can spare just a few minutes, I’d like you to consider a couple of questions. The answers to these questions could help: reshape the way you do business; pave the way for more interesting and challenging work; produce some very happy clients; and most importantly; create a new sources of revenue. Here’s a suggestion. Why don’t you print out this article and note the answers next to the questions, so you can review them later. Read more: https://www.essbiztools.com.au/ind...

How Accountants Gain From Business Advisory Services

Let’s start today with a snap quiz! Did you read last May’s Accounting Market Pulse report and seriously think “maybe our accounting firm should be offering those Business Advisory Services to our clients?” Now, eleven months later, have you done anything about it? Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=444&Itemid=639

SME Needs Analysis - A New Way to Provide Enhanced Business Services to Your Clients

If you want to add a new long-term income stream to your accountancy practice without having to meet those hefty development costs, then keep reading. At ESS BIZTOOLS, we have developed a new package that will help you to diversify into Business Advisory Services for your clients, without you having to ‘reinvent the wheel.’ Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=443&Itemid=639

Offering Business Advisory Services Without a Contractual Commitment

Our team at ESS BIZTOOLS has created an opportunity for accountants, like you, to offer a broader range of commercial services to their SME clients in a cost effective way. Providing professional Business Advisory Services can add a new stream of income that will flow into your practice and help grow your business. But, for smaller firms, offering new services over and above compliance work is often seen as an uphill battle, especially with all the preparatory work involved. Read More:...

Challenges for Accountants in 2022

This article is based on the podcast conversation Andrew Geddes, Accounting Industry Coach with Peter Towers, Managing Director ESS BIZTOOLS – “Challenges for Accountants in 2022”: Getting to the starting point What are the things to nail? SME needs review Does a client need funding? Succession planning Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=441&Itemid=639

Transition to Business Advisory Services

Making it easier for you – Access to Business Advisory Services Product Streams without a Contractual Commitment! “Getting to the Starting Point” Development of Product Champions Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=439&Itemid=639

Navigating the Transition to Business Advisory Services

How long have you been discussing the implementation of a diversification strategy to introduce Business Advisory Services to your accounting firm? It is nearly 10 months since the CommBank Accounting Market Pulse Report was produced which indicated that 95% of the accounting firms that the CommBank had interviewed had indicated that in 2021 and 2022 they would be “diversifying services”. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=438&Itemid=639

Ready For A Change?

Change is always difficult and there never is a really good time to implement it.  Let’s look at the current situation in Australia.  The Reserve Bank Governor’s forecast last week, that he expected unemployment to be about 3.7% later this year, highlighted that the Reserve Bank Directors believe that economic conditions are going to be better this year and, in fact, the forecast unemployment percentage is the lowest in 50 years. Read more: https://www.essbiztools.com.au/index.php?option=c...

Don’t “Beat Around” You Need To Make Changes – NOW!

Every accountant that I talk to indicates to me that the market is changing. Some of the issues that are discussed with me include, The Accountants Daily article which indicated that 70% of employed accountants are evaluating their employment prospects elsewhere. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=436&Itemid=639

Ready for a Change

Are you hesitant to implement changes to  your accountancy firm because you don’t know where to start? This is not an uncommon problem.  Many accountants have thought about diversification and have decided to implement diversification but never seem to find the time – there is always another compliance task that you think has to be done by you! Sound familiar?  Then I hope that the following comments will assist you and show you that you are not alone in being caught halfway between maki...

PLANNING FOR 2022!

2022 has now really started for business people with schools recommencing or about to commence around Australia and with more and more people returning to work within their actual business premises. It’s a time of the year that many people will be thinking about their planning for 2022. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=433&Itemid=639

COMMUNICATIONS CONFIRMS DIVERSIFICATION!

Do you intend to continue or embark on a diversification strategy during 2022?  The CommBank Accounting Market Pulse released in May 2021 indicated that 95% OF THE ACCOUNTING FIRMS OF ALL SIZES FROM ALL OVER AUSTRALIA THAT THEY HAD SURVEYED HAD INDICATED THAT THEY INTENDED TO DIVERSIFY THEIR SERVICES IN 2021 AND 2022! Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=432&Itemid=639

2022 – Falling Behind or Scaling Up?

Let us look at the issues confronting accountancy firms: “OVER 70% OF THE ACCOUNTANCY PROFESSION EYEING OPPORTUNITIES ELSEWHERE – the “great resignation” impacting the accounting team”.  Accountants Daily  “Any employer who is not thinking about how to retain existing employees and attract new ones could fall behind”.  Dr Jane Rennie, General Manager External Affairs at CPA Australia reported in Accountants Daily Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=i...

Don’t Fall Behind – Adapt Scaling Up!

You are invited to visit: www.essbiztools.com.au and www.essbizgrants.com.au to view a sample of the product packages that have been developed to assist Accountants, Business Advisors, Chief Financial Officers for SMEs and Bookkeepers supply value adding diversified services to SME Clients. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=425&Itemid=639

Supercharging for 2022!

There is no doubt that Accountancy firms are going to face significant challenges and great opportunities in 2022.  This is our final review of some of the challenges and issues that were encountered in 2021 that will probably continue in 2022. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=423&Itemid=639

Accountants Need To Fill Up The Hopper

“Accountants need to fill up the “hopper” by keeping marketing going to keep the “hopper” filled up because every business experiences clients dropping out of the bottom of the “hopper” and if you don’t keep topping it up, and you, just arrogantly go along and say I have got plenty of business I don’t need to worry, clients will drop out of the bottom of the “hopper” to the point that you are no longer viable.” Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&it...

Implementing Systemisation - Session 5” “An Amazing Program for Accounting Professionals

“We joined ESS BIZTOOLS five years ago as a subscriber and we have never looked back – it is an amazing set of products and tools that we utilise with our clients but we also utilise the system to guide young accountants in our mentoring program to better understand the challenges of delivering a wide range of non-compliance services to SMEs.”  “ESS BIZTOOLS enables us to empower young accounting professionals with tools and knowledge to achieve their goals”.  Priscilla Bea Smith, Director, ...

Implementing Systemisation Session 4 - Your Cilent Should Be Included in the Planning Process

“Too many accountants do not involve their client in the planning process which commences with the Business Plan and proceeds through to the Predictive Accounting Reports of Budgets, Cash Flow Forecasts and Projected Balance Sheets without effective communication with the client.”  Paul Barnaby, Regional Integration Consultant Asia-Pacific for Plan Guru and CEO of Beyond Accounting Technologies. “Predictive Accounting is documenting for future accounting periods what we have been doing in ...

Implementing Systemisation - Session 3 Newsletter Leverage Communication with a Firm’s Clients

In session 3 of the Black Friday webinar extravaganza Amanda Gascoigne, Amanda Gascoigne Consulting joined Peter Towers, Managing Director, ESS BIZTOOLS for a discussion on 5 Key Product Packages that are part of the ESS BIZTOOLS’ Business Advisory Services offering for Accountants, Business Advisors, Chief Financial Officers and Bookkeepers. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=419&Itemid=639

Implementing Systemisation - Session 2 Accountant’s Role Is A Bit Like A ‘Financial Sherlock Holmes’

Andrew Geddes, Accounting Industry Coach and former Chair of Greencross Ltd, a Top 200 ASX company joined Peter Towers, Managing Director, ESS BIZTOOLS for a discussion in Session 2 of the ESS BIZTOOLS’ Black Friday webinar series and made the following comments relative to the utilisation of: Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=418&Itemid=639

Implementing Systemisation - Session 1 Reflection on ESS BIZTOOLS’ Systemisation Journey

SYSTEMISING BUSINESS ADVISORY SERVICES In last week’s ESS BIZTOOLS’ Business Advisory Services Podcast – “Systemising Business Advisory Services”, Peter Towers, Managing Director, ESS BIZTOOLS discussed recent comments made by experienced accountants on why systems are important for the effective delivery of Business Advisory Services. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=417&Itemid=639

Systemising Business Advisory Services

Amanda Gascoigne, Principal, Amanda Gascoigne Consulting, made this comment in the ESS BIZTOOLS’ Business Advisory Services Podcast last week - “I can assure you that if you’ve got the systems, you will get that extra work, but you have to make a proactive decision to be reactive and respond to the type of services that your clients want you to provide to them”. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=416&Itemid=639

Business Advisory Services Is A WIN, WIN, WIN!

WIN for your clients, you’ll be assisting them to add value to their businesses! WIN for your team, who will have interesting and challenging work, will help your firm with retention and attraction of team members!! WIN for your firm, diversified services will add value to your firm! Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=410&Itemid=639

You’ve Got To Start It Now - This Afternoon!

Andrew Geddes, Australian Accounting Legend, Chair for 10 years of Greencross Ltd, a company which developed over 30 years from a very small veterinary surgery to be a Top 200 ASX company utilising the “Scaling up Process” that Geddes introduced to the Greencross leadership team 15 years ago. We invited Andrew Geddes to participate in the ESS BIZTOOLS’ Business Advisory Services Podcast with Peter Towers, Managing Director, ESS BIZTOOLS on the subject “Scaling up Strategies for Team Buildi...

Business in a Post-Pandemic World – Presents Great Opportunities!

At long last the COVID-19 lockdowns are ending and there is an air of optimism in the marketplace as businesses go about the task of reopening and repositioning themselves for what is expected to be boom conditions in 2022. Accountants, this is a great opportunity to identify yourselves as a proactive accounting firm that is willing to supply a range of business enhancement services to your SME clients. In the “ESS BIZTOOLS Business Advisory Services Podcast” this week Phil Chynoweth, Ma...