{"id":7897,"date":"2020-08-06T10:00:46","date_gmt":"2020-08-06T09:00:46","guid":{"rendered":"https:\/\/www.sage.com\/en-gb\/blog\/?p=7897"},"modified":"2026-01-29T10:12:04","modified_gmt":"2026-01-29T10:12:04","slug":"pivoted-accountancy-firm-entrepreneurial","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-gb\/blog\/pivoted-accountancy-firm-entrepreneurial\/","title":{"rendered":"Shaz Nawaz: ‘How I pivoted my accountancy firm to an entrepreneurial model’"},"content":{"rendered":"
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\n\t\t\t\t\t\t\tStrategy, Legal & Operations<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t
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\n\t\t\t\t\t\tShaz Nawaz: ‘How I pivoted my accountancy firm to an entrepreneurial model’\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

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\n\t\t\t\n\t\t\t\t\"Shaz\t\t\t\tShaz Nawaz<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t<\/div>\n\t\t<\/div>\n\n\n\n

If accountants have learned anything from the coronavirus (COVID-19) pandemic, it\u2019s that previous strategies can\u2019t be expected to meet new and completely unforeseen challenges.<\/p>\n\n\n\n

To grow their business moving forward, modern accountants<\/a> should position themselves as trusted advisers involved in all forward-planning aspects of the client\u2019s business.<\/p>\n\n\n\n

In my experience it follows that, in order to offer clients an optimum service, there needs to be a close and ongoing connection.<\/p>\n\n\n\n

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Download your free small business toolkit for your clients: a guide, business plan template and cash flow forecast template<\/a><\/div>\n<\/div>\n\n\n\n

Moving to an entrepreneurial model<\/h2>\n\n\n\n

More than 10 years ago, I made a conscious decision to move my accountancy practice from the traditional model to a more proactive and entrepreneurial role.<\/p>\n\n\n\n

This means referring those clients who only want an accounts production and tax return service to alternative firms that can provide these essential services efficiently and at a competitive price.<\/p>\n\n\n\n

That leaves me free to concentrate on clients who are looking for more specialised advice and services tailor-made to their specific requirements.<\/p>\n\n\n\n

My approach is to engage fully with the client\u2019s business operation and personal needs and concerns, to provide a service that is both client-centred and holistic \u2013 that\u2019s to say I don\u2019t do \u2018one size fits all\u2019. I expect to look at all aspects to see how they impact on each other, rather than treating different issues in isolation.<\/p>\n\n\n\n

Supporting businesses in challenging times<\/h2>\n\n\n\n

In the past six months, as a result of coronavirus<\/a>, the majority of businesses have had to take a long, hard look at how they can adapt to a seismic change in their sectors and business practices.<\/p>\n\n\n\n

Sadly, not every business will have managed to survive, despite the government assistance<\/a> packages, which have been generous in several cases.<\/p>\n\n\n\n

Those that have survived are facing the fact that \u2018normal\u2019 is very unlikely to mean carrying on as before.<\/p>\n\n\n\n

I\u2019d like to think that many of these businesses will be turning to their accountant as a trusted adviser<\/a> for help with the strategies to move forward.<\/p>\n\n\n\n

It\u2019s crucial for your business to not only ensure that your clients can access the advice they need at this challenging time, but to educate them, if necessary, to your wider service offerings post-pandemic.<\/p>\n\n\n\n

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Download your free small business toolkit for your clients: a guide, business plan template and cash flow forecast template<\/a><\/div>\n<\/div>\n\n\n\n

Seven tips to sell an entrepreneurial model to your clients<\/h2>\n\n\n\n

To sell this service, it\u2019s vital to put yourself in the client\u2019s shoes. Here\u2019s seven ways to do that.<\/p>\n\n\n\n

1. Immerse yourself in your client\u2019s concerns<\/h3>\n\n\n\n

A criticism often levelled at accountants is that they don\u2019t understand the pressures of commerce. It\u2019s the case that, although in a sense, all businesses are the same, each business is also unique.<\/p>\n\n\n\n

That sounds nonsense, but what I\u2019m highlighting is that, although business and economic principles remain the same across the board, each business will have its defining quirks.<\/p>\n\n\n\n

An accountant should be able to apply one while recognising the other.<\/p>\n\n\n\n

So don\u2019t let the client feel that their business is just one among many others. Find out and celebrate its unique features and work out how these can be built into a winning strategy<\/a>.<\/p>\n\n\n\n

2. Clarify what you\u2019re offering<\/h3>\n\n\n\n

It\u2019s straightforward for the professional to make assumptions about what a service involves. I favour a detailed schedule setting out precisely what the client will get for each type of service.<\/p>\n\n\n\n

This saves a lot of misunderstanding.<\/p>\n\n\n\n

3. <\/strong>Emphasise the outcome for the client<\/strong><\/h3>\n\n\n\n

I\u2019ve already mentioned that many clients will be looking at what it\u2019s going to cost. That\u2019s fine, but it\u2019s only half the story.<\/p>\n\n\n\n

In accountancy terms, ROI (return on investment) is a crucial concept.<\/p>\n\n\n\n

If you can show your client that by investing in your service, they should be able to significantly increase their profitability over the year by \u00a350,000, or, for example, improve their work-life balance, then most would consider that a good investment.<\/p>\n\n\n\n

4. Remember, measuring and monitoring is important<\/h3>\n\n\n\n

To make the last example work, you need not only a way of measuring and monitoring key numbers but also the client\u2019s acceptance that they will have to put in some effort in working with you on the recommended strategies.<\/p>\n\n\n\n

So it\u2019s vital your client accepts this and also understands what needs to be done.<\/p>\n\n\n\n

5. Emphasise the bottom line<\/h3>\n\n\n\n

In accountancy-speak, that\u2019s the last line in a budget and cash flow<\/a>, which shows you what\u2019s left at the end of the month.<\/p>\n\n\n\n

The client may be more inclined to look at the top line (the income generated) and dubious about the chance of achieving that turnover.<\/p>\n\n\n\n

The accountant\u2019s role is to demonstrate the strategies that are not only designed to increase turnover but also to minimise costs. In running a successful business, cash flow can be even more vital than overall profit.<\/p>\n\n\n\n

6. Be upfront with costs<\/h3>\n\n\n\n

Be clear about what it\u2019s going to cost, when payment is due and, I\u2019m afraid, the consequences of not paying.<\/p>\n\n\n\n

At the same time, don\u2019t forget the carrot and stick principle. It\u2019s much more effective to offer an incentive for early payment than a penalty for late payment<\/a>.<\/p>\n\n\n\n

7. Offer easy, cost-effective solutions<\/h3>\n\n\n\n

Be aware that, post-pandemic, clients will be looking for the easiest, most efficient and most cost-effective way, whether that\u2019s in bookkeeping, communication, selling or any other aspect of business.<\/p>\n\n\n\n

The accountant\u2019s role is to help the client achieve this.<\/p>\n\n\n\n

Final thoughts<\/h2>\n\n\n\n

Connecting with clients has always been the key to success for both parties. Post-pandemic has made it more so.<\/p>\n\n\n\n

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Small business toolkit for clients<\/h2>\n\n\t\t\t\t\t\t\t\t\t
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Share this free guide, business plan template and cash flow forecast template with your clients to help them run their businesses and achieve their goals.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\tDownload your free toolkit<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t

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Join more than 500,000 UK readers and get the best business admin strategies and tactics, as well as actionable advice to help your company thrive, in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\tSubscribe now<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\"\"\t\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Shaz Nawaz from AA Accountants reveals why adopting an entrepreneurial business model can help you be seen as a trusted adviser.<\/p>\n","protected":false},"author":1089,"featured_media":7757,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"footnotes":""},"categories":[9],"tags":[191,16],"business_type":[115],"lilypad":[],"context":[],"industry":[],"persona":[67],"imagine_tag":[220,98],"coauthors":[533],"class_list":["post-7897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategy-legal-operations","tag-business-continuity","tag-grow-accounting-practice","business_type-accountants"],"sage_meta":{"region":"en-gb","author_name":"Shaz Nawaz","featured_image":"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2020\/07\/man-791049_1920.jpg","imagine_tags":{"220":"Accountant accounting","98":"Business continuity"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice UK","distributor_original_site_url":"https:\/\/www.sage.com\/en-gb\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/posts\/7897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/users\/1089"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/comments?post=7897"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/posts\/7897\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/media\/7757"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/media?parent=7897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/categories?post=7897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/tags?post=7897"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/business_type?post=7897"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/lilypad?post=7897"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/context?post=7897"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/industry?post=7897"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/persona?post=7897"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/imagine_tag?post=7897"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/coauthors?post=7897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}