Compete or Collaborate?
How often do you attend a networking meeting and see a number of your competitors?
If you get the sinking feeling then maybe you need to think again. Last night I found myself in a packed room with at least three other accountants. Joining in a brief conversation with one, I learnt that this accountant is taking on audit work. That’s great because I have never had any desire to carry out audits for companies. Now I know who to turn to when I need an auditor.
Another of my competitors, again a qualified accountant spoke for a minute on his practice’s strengths and mentioned inheritance tax planning. Again – this is not an area that I wish to cover.
Every business has its niche and area of expertise. I am a management accountant and finance director with a focus on profitability, cash flow, costs and general taxation not an auditor or tax specialist. Just like a doctor could be a GP or a brain surgeon.
In the interests of collaboration I am organising a conference for fellow management accountants in the southern area of England. How could you collaborate to win?