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.
Two KPIs provide an indication of how well you are creating leverage in your practice:
- Do your staff have the capability to offer your clients a minimum of three professional services?
- Are 60-80% of all your advisory services being delivered by your professional staff?
Creating leverage is one of a range practice management issues you need to consider when planning the growth of your practice.
Other ‘growth’ factors include:
- Partner alignment and practice capacity;
- Staff development and leadership;
- Family office services revenue model;
- Sounding board services (e.g. CFO/Boards of Advice);
- Service, industry and niche market specialisations.
We discussed these topics in our recent accounting industry growth insights webinar. We recorded the webinar, request a copy below.