With apologies to Arthur C Clark
Arthur C Clark (nearly) said:
When a distinguished but elderly consultant states that something is possible, he is almost certainly right.
When he states that something is impossible, he is very probably wrong.
The only way of discovering the limits of the possible is to venture a little way past them into the impossible.
Any sufficiently advanced technology is indistinguishable from magic.
OK so I changed the word ‘scientist’ to ‘consultant’ (Sorry Arthur)
Where does Runagood® sit on this continuum?
In 2010 as an experienced (distinguished is pushing it somewhat) business consultant, I thought automation was possible. No one else did (or does).
I predicted that accountants would be impossible users of it, through lack of imagination and enterprise.
I tried taking it direct to businesses, but they couldn’t see its power.
I tried taking it to consultants, but they saw it as a threat.
Then my own accountant showed interest, explaining that with the proliferation of accountancy software and decline in new businesses engaging accountants aggravated by older client retirements, the profession needed diversification and business consultancy was the logical answer.
He was right, I was wrong. So, we plunged into accountant partnerships and haven’t looked back. (I now know some imaginative and enterprising accountants by the way)
And yes, it does look like magic when in the space of one hour an accountant can analyse any business, forecast its potential, develop a performance and value improvement plan and lay out a costed implementation project paid by monthly recurring subscription.
So, are accountants truly the future of business consultancy?
Yes, so long as they distinguish between ‘advice’; ‘advisory’; ‘mentoring’; ‘coaching’; ‘consultancy’ all very different yet continually confused as the same.
Let’s define them accurately…
Advice
Client asks what shall I do about this? Advisor says you might do this you might do that, you could do this you could do that, let’s chat. No charge.
Mentor
Asks Client what would you like to fix, then offers opinions based on past experiences and acts as a shoulder to cry on. Monthly retainer. Fizzles out after a while.
Coach (Business not Life)
Sets objectives to help client work towards a solution and pushes for progress helping to navigate blockages to progress. Weekly / monthly retainer. Fizzles out after a while.
Consultant
Says I’ll fix your problem, leave it to me. Price for the job. Eats, shoots, leaves.
Trainer
Works out what skills you need to do a better job. Then runs training to raise specific skills and knowledge. Price for the job.
Project Manager
Client says I’m out of control come in and run the business or part of it for a while. Salary.
My own experience with accountants who approach Runagood®:
All are into Advice which clients expect for free. They are interested in the Runagood® Business System because it offers a framework for providing paid advice.
Some have advanced into Mentoring, backed by management accounts, budgeting cashflow forecasting, review meetings for which they are paid. They are interested in the Runagood® Business System because it contains readymade Methods and Action Plans to solve client problems identified during review meetings.
I have not met an accountant who is into Consultancy. And here is where the tech becomes ‘indistinguishable from magic’ because a leap of faith is needed that few accountants are ready for. Yet that is the route to doubling fee income from each client, being able to retain and grow them all and reaching out to every business owner with solutions to their every problem and ambition.
If you’d like to discuss any of this book a chat here
If you’d to debate email me duncan@runagood.com