Earlier today, I had a long discussion with Jason Holden about the principles he applies in going to market. In short, it comes down to common sense but there’s a lot of science in there as well. Jason regards ‘accounting’ as the utility foundation for his real role of advisor to his portfolio. Jason knows he’s not an expert in everything so has created a network of experts who can fill in the gaps wherever and whenever necessary. Each person in Jason’s network is a subject matter expert – say taxation or financing and they all operate in a non-compete, ‘always-on’ manner. They see it as a win-win-win. And I agree.
How does Jason support his clients? He is removing the rustbelt administrative book-keeping that accounts for 60-70% of a professional accountant’s time. He’s doing that as a Winweb gold partner. Any new client uses what Winweb offers or Jason politely points them elsewhere. The remainder of his portfolio is being brought onto the Winweb platform. Jason had looked at outsourcing but rejected the idea in the belief that over time outsourcing would erode the potential for bringing in new talent. (That’s a discussion for another day.)
Does Jason’s approach work? Absolutely. Winweb takes a client centric view of accounting so most clients can get up to speed pretty quickly. Jason supports them through the ramp up period with a ‘show and do’ approach. This is done within the framework of charging fixed fees. “I can’t stand time sheets,” kinda says it all.
So where’s the proof? “If you want to get me back into being an employed senior/partner then we’re talking six figures,” he says. Jason believes his fee income will double this year. And with virtually no increase in overhead. OK – so he’s a small practice and you can always argue that high percentage increases are meaningless. I disagree. We’re talking doubling/£x00,000+ puts it in perspective.
So where does the Mr. 1% come from? I’m firmly of the belief that there is a huge opportunity for professionals to get out from under the tyranny of accounts production and into the business of being relevant to their clients as trusted advisors. But there’s a problem. Being a professional accountant is no longer the guarantee of trusted advisor status it once was. There are too many distractions, too many scandals among the likes of KPMG and too much bureaucracy. The only sustainable way to move forward (IMO) is to remove the perception by standing alongside clients and trying to view the world through their eyes. That’s not simply a technology play, neither is it a cynical form of marketing. It’s common sense. Something the 2020 Group espouses (among other things). They have around 1,300 members. That’s about 1% of the available professional talent pool.
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