Overcoming the Profit Squeeze: How Partnerships Help Accountants Deliver More Value for Less Effort cover art

Overcoming the Profit Squeeze: How Partnerships Help Accountants Deliver More Value for Less Effort

Overcoming the Profit Squeeze: How Partnerships Help Accountants Deliver More Value for Less Effort

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 Episode Summary:In this episode, Talila Kroy, Wayne Findlay, and Ian Aldridge tackle the profit squeeze facing accounting firms head-on. Since COVID, professional services have seen a relentless race to the bottom, with clients shopping purely on price. Discover how strategic partnerships offer accountants a path to escape price competition, attract better clients, and future-proof their practices against AI disruption.What You'll Learn:Why the last five years have seen a race to the bottom in professional services and how to escape itWhy price-shopping clients are your worst clients and how to avoid attracting themHow to use partnership marketing through workshops, events, and shared databasesWhy clients referred by partners are far less likely to haggle over feesHow AI will create another race to the bottom and why partnerships protect youHow offshoring creates capacity for senior staff to focus on high-value advisory workWhy personal partnerships are essential for surviving the next 5-10 years of disruptionKey Takeaways:Clients referred by trusted partners are far less likely to negotiate fees because trust has been transferredPartnership marketing through workshops and events gives you access to thousands of targeted prospects at minimal costAI will create another wave of price competition, making personal partnerships even more critical for protectionOffshoring lower-level work creates capacity for senior accountants to focus on high-value advisory servicesHaving 20-50 businesses continually referring work provides stability that marketing alone cannot deliverNotable Quotes:"The more personal partnerships we can create, the more we've got a chance of not just surviving the next five to 10 years, but also thriving." - Ian Aldridge"If you're an accountant and you want to stand out, have a workshop and use your partners to promote that workshop on your behalf." - Wayne Findlay"Our job is to be the very best, to provide the very highest quality of service and to showcase that to our partners so that they're so delighted with the results that we get their clients, that they just keep giving us clients." - Talila Kroy"The clients that we've found that have come through from referral partners are far less likely to haggle over fees. They've been told by their accountant, 'Hey, you need to go and see Ian and get this stuff done,' and they just go ahead and do it." - Ian Aldridge"If you're getting referrals because you're the lowest price, then you need to talk to the people that are referring to you and say, 'Don't send me those people.'" - Wayne FindlayResources Mentioned:The Back Room Growth Calculator (thebackroomop.com) - helps firms design their future based on compliance versus advisory mixBook: "Someone Has to Be The Most Expensive. Why Shouldn't It Be You?" by Andrew GriffithsPartner Suitcase Program (emple.com.au) - sales enablement for partnership marketingRoundtable EventsInformation, including registration details, for Roundtable events for Accountants: https://thebackroomop.com/thepartnershipeffect Panelist Information:Talila Kroy - EmpleWebsite: emple.com.au LinkedIn: linkedin.com/in/talila-kroy Specialisation: Building partner ecosystems for fast-growing businessesWayne Findlay - The Back RoomWebsite: thebackroomop.com LinkedIn: linkedin.com/in/waynenz Specialisation: Offshoring solutions for accounting firmsIan Aldridge - Progressive LegalWebsite: progressivelegal.com.au LinkedIn: linkedin.com/in/ianaldridge1 Specialisation: NewLaw firm for growing Australian businessesProduction:Co-host - Anthony Perl - Podcasts Done For YouWebsite: podcastsdoneforyou.com.au LinkedIn: linkedin.com/in/adperl/
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