Accountancy Age recently reported on the contrasting fortunes of the top 100 UK Accountancy firms by revenue. See https://www.accountancyage.com/resources/top50 for more detail.
Many had achieved slow growth over their previous financial year, but there were some “outliers” with shrinking revenue and others which had posted strong double digit increases.
My strong feeling is that those achieving the strong growth have identified and executed on the opportunities that others haven’t. So, for those firms who are perhaps standing still in revenue terms, three things to think about (which apply to any professional services firm)…
1) Have you made any real changes to marketing strategy and the way in which you design and execute it, in the last 2 years?
2) Have you properly reviewed the marketplace for new opportunities and then gone out and implemented on these?
3) Have you fully identified the potential to provide more value to your own client base, by asking the right questions?
If you haven’t done these, my suggestion would be to start thinking about them – and fast.