I’ve talked about how the accounting industry has been disrupted. High-volume, low-profit services such as tax returns are being pushed out by large commercial organizations, leaving small and medium-size accounting firm owners to work increasingly harder for decreasing profits.
The solution is to allow your business model to adapt by following these three core principles:
- Transform from accountant to advisor. (Read 3 Keys to Evolving Your Accounting Practice if you haven’t yet!)
- Learn to price/sell/deliver.
- Confront and conquer fear.