We left the last post with the story of 3 accounting partners serving a particular client very well for around 10 years and not even asking once for a referral or introduction t another business owner or CFO.
The reasons this CFO I was chatting with gave me for why he thinks accountants are not good at being on the front foot when it comes to be business development, for me, was quite telling. He shared with me two reasons:
1. Insecurity Most accountants are, by nature, not comfortable with moving outside areas they either don’t have much experience in or have not been specifically trained for. The classic example here is business development, sales & marketing. Accountants of course have to do it, but they don’t like doing it and unfortunately it shows.
2. They are first and foremost technicians. The CFO made an interesting comment that in his opinion the majority of accountants in public practice see themselves as technical & subject matter experts. Highly trained professionals who are paid for their expertise and advice. A lot of them see “selling” as being too crass and beneath them. Such an attitude can sometimes be clothed in arrogance and an inability to reach out to clients.
Now, the above thoughts aren’t mine – they belong to a CFO with more than 25 years experience working in commerce & industry. I would like to think he knows a thing or two!
See you next time,