How have you built your tax practice?
It took some work involving significant strategic thought for me to build my tax practice overtime. My main objective was to concentrate on both internal and external opportunities that helped my practice move to the next level. It involved knowing my business landscape and tracking my progress. So far, the essential key elements that allowed me to achieve business growth were marketing the practice in numerous ways, acquiring a couple of tax practices, developing referral sources ( professional and self referrals), developing client relationship strategies that embrace my business model, and networking which is a powerful tool for meeting like minded people and discovering new opportunities.
What is your focus and business model?
My business model is "client centered" and my main focus is putting my clients' interest first whilst assisting them with every aspect of their finances. My aim is to provide clients with a comprehensive, integrated tax and advisory plan to fit their needs. I work with my clients to understand what matters to them, how to save them money, to grow their wealth, to advise them of risks, and how to protect themselves and any siblings. My role is to tailor my services to meet my clients' needs and to advise them accordingly.
What are your views on the future of the accounting industry?
To provide even better services in the future, accountants will need to have greater insights and better understanding of client's situations and deliver value for money. Accountants must grow, develop and be willing to pursue new educational opportunities to keep on top of their field and new developments. We should also be up to date with latest technology trends and further educate ourselves in both the accounting and information technology, so we are able to handle future digital innovations. Practices need to recruit and train the right individuals to stay on top of their objectives.
How do you approach tax planning with clients?
Tax planning is a key component of my service. As we say, prevention is better than cure. I take a proactive approach to save my clients time and money. I take time to fully understand my clients' situation and work alongside them to devise a plan that suits their needs. I focus on building a solid relationship including timely communication. This approach ensures my clients are given a cost effective, professional and consistent service.