Scalable Accounting Practice

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Title:

Scalable Accounting Practice

Description:

Spreadsheets and charts might have been sufficient when it is just you and 20 clients… but if your goals are to grow past soho practice, then you’ll need to leverage technology, not only for your clients’ but for yourself. Explore the advantages, costs, challenges and options relating to practice management and business operations software. – PowerPoint PPT presentation

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Provided by: GovReports

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Title: Scalable Accounting Practice

1
Scalable Practice
2019. Impact Management Group Pty Ltd. All
Rights Reserved.
2019 Impact Management Group Pty Ltd All Rights
Reserved.
2
About Me

BAS Agent since
Small Business Owner
Love Technology
Hate but Embraces Changes
Uses MYOB, XERO, Quickbooks, Reckon, Sage, .
CRM, Wrykeand a whole lot more
Lives in Sydney and loving it!

2019. Impact Management Group Pty Ltd. All
Rights Reserved.
2019 Impact Management Group Pty Ltd All Rights
Reserved.
3
Why Scale My Practice

Higher growth of revenues than operating
expenditure growth
Increase clients without impact on operational
cost
Sustainable and adaptable business expansion
Business growth in general

2019 Impact Management Group Pty Ltd All Rights
Reserved.
4
Lets Get Started
2019 Impact Management Group Pty Ltd All Rights
Reserved.
5
Expand Your Horizon

Most of us start out with a narrow focus
Revisit our vision and dreams as we start to grow

2019 Impact Management Group Pty Ltd All Rights
Reserved.
6
As Your Practice Grows

High margin positive cashflow- profitable
Low margin positive cashflow near profitable
Low margin negative cashflow not profitable

2019 Impact Management Group Pty Ltd All Rights
Reserved.
7
How Much How Fast to Scale

Depends on your vision and business model
Profitable practices can be killed with poor
cashflow
Workflow process to be defined to control
expanding operational expenses

2019 Impact Management Group Pty Ltd All Rights
Reserved.
8
To Scale or Not To Scale
2019 Impact Management Group Pty Ltd All Rights
Reserved.
9
Eyeing on your revenue goals
2019 Impact Management Group Pty Ltd All Rights
Reserved.
10
Hiring to cater for more clients
2019 Impact Management Group Pty Ltd All Rights
Reserved.
11
Whats the hidden myth?

Getting good staff is a hit a miss
Establish practical and workable process
Focus on execution
Revisit financial model for your changing needs

2019 Impact Management Group Pty Ltd All Rights
Reserved.
12
Where to Scale?

Clients Selective and grading clients
Revenues
Technology
Hiring people
Processes
Services

2019 Impact Management Group Pty Ltd All Rights
Reserved.
13
What are your Limitations?

Technology
People
Opportunity
Market
Operational efficiencies
Cash
Execution

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Reserved.
14
Analyse
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15
Technology is a Key Driver of Growth!
2019 Impact Management Group Pty Ltd All Rights
Reserved.
16
Process

Define simple and all repeatable processes for
all jobs and tasks in your service
Dont make the process a bottle neck

Master your sales funnel
Set a defined and repeatable process for sales
Understand the economic model client
acquisition cost, margin with jobs or task
performed..
Churned rate