Accounting Industry Thought Leadership Articles
We are passionate about sharing accounting industry thought leadership information with you so you can grow your practice. There are multiple ways you can access our information.
Connect with our CEO, Grant Bloxham on LinkedIn to find out more about the latest accounting industry trends, key insights to grow your business advisory services revenue and successful strategies to attract ideal clients to your practice.
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How do you make advisory services compulsory for all your clients?
Changing advisory services from ‘discretionary’ to ‘mandatory’.
adminFuture of Professional Advice – The strategy to solve your growth concerns
In an economy where the majority of accountants are concerned about the rate of revenue growth, this percentage, based on hard data confirms there is huge growth potential within an accounting practice clients’ base.
adminFuture of Professional Advice – Business Advisory Services Growth Opportunity
The pathway to fee growth resides in the small business, SME and ME sectors where the strategic opportunity is to grow a small business into a medium to large client.
adminFuture of Professional Advice – The changing revenue landscape
Changing your revenue mix will protect your practice against declining fee returns from traditional services.
adminWhat will an accounting practice look like in 2023?
We have developed ten key success factors to future proof the growth of accounting practices.
adminWhat’s keeping your SME clients’ awake at night?
Understanding client needs via access to ‘real time’ data is essential for the future growth of accounting practices.
admin2019 Accounting Industry Insights – Making the transition to business advisory easy
Bstar CEO discusses new Accounting Industry Insights
adminDo you need proof of revenue before you invest in business advisory solutions?
The majority of accountants we speak with are concerned about their fee growth rates and declining profit margins.
adminFuture of Professional Advice – Building and Growing Annuity Income Streams
If fee growth is a concern for your practice, there are three ‘fee for service’ packages you can offer to boost your revenue.
adminFuture of Professional Advice – Securing client engagement: Business Advisory Services
If you are a Bstar Alliance Partner you will be familiar with the acronym ‘RAVDA’ – Risk & Value Driver Assessment.
adminFuture of Professional Advice Teams
As a result of a continued disruption to traditional revenue streams we are witnessing a transition in the profile and skillsets of key people in accounting practices.
adminHow many of your business clients have a value gap?
A value gap is the difference between what your client’s business is worth today and what it needs to be to attain financial independence.
adminIs the accounting industry about to experience a ‘blue wave’ of recurring revenue generated by business advisory services?
As technology continues to disrupt the revenue calendar of accounting practices we are predicting a new trend will emerge. That is, accountants will actively seek new ways to replace declining revenue from core ‘red’ accounting, tax and compliance services.
adminNew ideas to attract ideal clients
Accountants are hungry for growth in both new revenue and more clients. Our Family Office Services Report confirms attracting SMEs, Professionals and High Net Worth Individuals is a top priority.
adminThink differently to grow….
To achieve growth in the small business, SME & ME sectors, accountants need to take a different view and think outside the box.
adminCase Study: Hood Sweeney
Find out how a South Australian accounting firm was able to expand and grow by using a pilot team to implement business advisory services.
adminBuilding & Construction Industry Specialisation Package to support Accountants & Financial Planners
The building and construction industry is one of the largest and most important sectors in Australia and New Zealand. Builders and tradies are highly valued clients of accounting and financial planning practices, but they are currently facing an industry in transition.
adminWhere will Accounting Revenue Growth come from in 2018/19?
Currently, the internal revenue growth rates for small to medium-sized practices from existing clients is between 7% and 12% per annum.
adminCase Study: How 4Front Accountants Grew Business Advisory Revenue With Bstar
When working with small to medium-sized businesses, we often get asked about the best way to implement the Bstar program and process.
adminHow to Grow your SMSF Business
The number and variety of SMSF services being provided are one of many insights shared in the upcoming 2018 SMSF Insights Report.
adminWhy is there such a big difference between the industry average and benchmark profit margins?
To achieve benchmark performance (top 20%), there are three key benchmarks categories you can focus on.
adminDo You Know the Genuine Worth of Your Dental Practice or SME?
Our dental practice research confirms the majority of dentists and SMEs don’t know what their practice is genuinely worth.
adminThe Difference Between Industry Average and Benchmark Valuation Multiples for Accounting Practices
Analysing and reducing qualitative risks can substantially improve the value of your practice.
adminWhat is Your Lead Advisory Solution to Attract New Clients?
According to our 2017/18 Accountants Research Report, attracting new business clients is the top concern for accountants.
adminTwo Key Performance Indicators for Practice Growth
If one of your objectives in 2018/19 is to grow your advisory services, creating leverage to achieve this goal can be a major challenge. However, with the right approach, it can also be one of the biggest growth opportunities for your practice.
adminImportant News for BGL Corporate Solutions Customers Offering SMSF Services
We are proud to announce that we will soon be releasing an independent 2018 SMSF Insights Report for BGL Corporate Solutions.
adminAccountants, 5 key service specialisations are all you need
Over the last couple of years, I have been raising the issue of the need for Accountants to develop industry and service specialisations to grow their practice revenue and attract new ‘ideal’ clients. Accountants considering developing service specialisations should tailor these solutions to the key needs of their clients.
adminFamily Office Services Model
Accountants need a services solution to replace declining compliance fees. A key growth opportunity is to offer Family Office Services and manage all the personal, family and business needs of their ‘ideal’ clients. Many accountants have the client relationships, and skills to offer this service, but have not taken advantage of the opportunity.
adminThe #1 Growth Opportunity for Accountants
I believe the number one growth opportunity for accountants in public practice is to convert an existing compliance client into an advisory client and then generate up to 7 new revenue streams per client.
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Testimonials
Bstar provides a defined framework that we can scale
"We were offering Business Advisory services to our clients, but we didn’t have a structured and repeatable way to deliver on a consistent basis. Bstar provides a defined framework that we can scale, ensuring we deliver what we say will to our clients each and every time. Without Bstar, we wouldn’t be able to offer the suite of Business Advisory Services we do today, meaning we’d miss out on a huge opportunity to grow both our business, and our client’s businesses."
Drue Schofield, 4Front Accountants
The Bstar process and tools align perfectly with our delivery model
"We appreciate the value in systemising an offering and Bstar was fundamental in allowing our practice to do that. The Bstar process and tools align perfectly with our delivery model and provide structure to what has always been an adhoc and somewhat intuitive process."
Jared Favero, Godbee Favero
Industry experts
"We see the value in partnering with industry experts and access to data that assists our clients (and ourselves) identify KPIs appropriate to their situation."
Matt Connor, Medical Financial Group
The latest and best tools to assist our clients prosper and grow successfully
"To be able to provide our clients with the best possible advice and support we can, in choosing Bstar to partner with we are confident that we will have the latest and best tools to assist our clients prosper and grow successfully in any future business plans they have. We want to provide a value-added service to our clients for whom we are currently providing compliance services, in the ever increasingly complex business environment, we believe that our role is even more important as being a trusted adviser to our clients and assisting them in their future decisions."
Stephen Noble, SJN Chartered Accountants
Bstar support their Alliance Partners to help them achieve results
"We made the decision to become a Bstar Alliance Partner for several reasons. First and foremost, product quality and development, Bstar is a well-respected brand in the business arena and Support. Bstar stand behind their product and support their Alliance Partners to help them achieve results. It’s very personalised and genuine and both are happy to pass on a wealth of knowledge and experience."
Tony Kolker & Rob Femia, ROCG Stirling