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Blunt Advice for Accountants Who Want to Make a Difference
Episode 7431st October 2019 • Accounting Influencers Podcast • Rob Brown (Accounting Influencers Roundtable - AIR)
00:00:00 00:23:32

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Paul Davis

Paul Davis is an award-winning business and executive mentor, speaker, trainer, author of several international best-selling books, and creator of The Impact Code and The Executive Code. He has earned a reputation as a game changer and a secret weapon when it comes to the measurable and permanent positive change that has been experienced by the countless business leaders he has worked with. Having originally trained as a management accountant, Paul has since transformed several pan-industry enterprises into multi-million Euro successes. Shownotes:

  • Compliance for accountants is becoming a smaller proportion of accounting firm income
  • Accountants have NOT been listening over the years, both to what their client are wanting and what the market is driving
  • Clients see little value in compliance, which is why it’s becoming a commodity
  • Many accounting firms are unable or unwilling to give their clients the direction and advice they need
  • Most accounting websites have the same buzz words – integrity, honesty, professionalism, reliability, so where is the differentiation?
  • Most accountants have lied, bent the rules, committed things if they answer honestly
  • The vast majority of accounting firms have not changed over the years and are not open to changing
  • A picture of what will happen to accounting firms who cannot or refuse to change and really listen to their clients and their own staff
  • The younger accountants coming through to replace the older generation are more empathetic and ask better questions of clients
  • One possible reason why accountants don’t listen and ask good questions if clients is that they’re supposed to have all the answers
  • Dashboards, graphs and charts are easy for accountants to produce, but this is not what business ownrs are looking for
  • Most accountants are doing well from a revenue and profitability point of view but are not thinking long term and will suffer in coming years
  • What separates the good accounting firms from the great ones
  • Commercially minded accountants are few and far between, and many are not open to this coachable skill
  • The difference between the good and great accountants is offering strategic advice
  • Why accountants should not SImon Sinek’s ‘start with your why’ as that’s not why clients buy from you
  • Values are completely misunderstood in all companies – accountants should properly use them for better impact and differentiation
  • A business cannot have a set of values – it’s an inanimate object and not a human being
  • Values are better phrased as priorities or philosophy when it comes to representing your accounting firm
  • Almost all accounting firms are seeing huge downward pressure on fees and a huge increase in salaries, and economics says these two lines will cross
  • Accountants are a 6 or 7 out of 10 when it comes to time management and productivity
  • Accountants can put all manner of new business systems and processes in place, but if they don’t change human behaviour, they won’t succeed
  • Very few business coaches and consultants who serve accountants do not invest in learning and so dish out the same information and methods.

'Almost all #accounting firms face huge downward pressure on fees and a huge increase in salaries, and economics says these two lines will cross and firms will suffer' says Paul Davis on the #Accounting Influencers #Podcast with…

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Paul Davis on the BD Academy Accounting Influencers podcast with Rob Brown

Paul is an Executive Coach with the Irish Stock Exchange for companies preparing for IPO. He is also a Fellow of The Chartered Institute of Management Accountants and a Fellow of The Institute of Management Consultants & Advisors. You can call him on +353 86 810 8548 or contact him below:

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