PERSONAL TAX SERVICES - UNTAPPED REVENUE You have business clients. Do you also do their personal tax? Personal tax is: - Recurring revenue (every year) - Higher margin (less work than business tax) - Client retention (people stay for personal tax) - Cross-selling opportunity (once you have client, easy to add personal) - Compound revenue (as you grow client base, personal tax grows) But many practices leave this on table: - Don't ask clients if they need personal t

ACCOUNTING PRACTICE BENCHMARKING - HOW DO YOU COMPARE? How is your practice performing? Do you know? Key metrics: Revenue per partner (should be £200K-£500K) Revenue per staff (should be £100K-£150K) Gross margin (should be 50-60%) Net profit margin (should be 30-40%) Staff turnover (should be <10%/year) Client retention (should be >95%) Average client value (should be £3K-£20K/year) If you're below these benchmarks, you have problems: - Underpricing - Inefficiency

HOW TO POSITION YOUR PRACTICE FOR ACQUISITION Maybe you want to sell your practice someday. Acquirers (other practices, larger firms, private equity) look for: 1. Recurring revenue (clients that stay, predictable) 2. Systemized processes (doesn't depend on owner) 3. Strong team (good people who will stay) 4. Good margins (profitable) 5. Client relationships (you're not the main relationship) Most practices fail on #2, #3, and #5. They're too dependent on the owner,