Challenges Facing Practitioners on Salary Reviews
Challenges Facing Practitioners on Salary Reviews Managing personnel would have to be one of the most significant challenges for all practitioners. Today’s world is about employee satisfaction and engagement. There is the constant challenge of hiring, retaining and rewarding personnel. Questions arise around just who are the right type of employees to target for your…
Read MoreThe Art of Due Diligence
The Art of Due Diligence Due diligence, or DD as it is often referred, is an integral part of the practice sale or transaction process. For whatever reason, vendors tend to get a little tetchy around due diligence time, concerned about what the purchaser will want to review and what information they need to make…
Read MoreHow Do You Protect Against the Unexpected?
How Do You Protect Against the Unexpected? In professional services industries, our livelihood is essentially linked to the continuity of revenue generated by the provision of services to our clients. Depending on the particular service, our interaction with our clients may be a one-off in nature or it may be more repetitious. Whether we like…
Read MoreFixed Fees, a Trap for Some Practices
Fixed Fees, a Trap for Some Practices The profession, for some time now, has been espousing the benefits of fixed fees. Firms across the country have implemented their use to varying degrees, with some taking an ‘across the board’ approach to implementation. Others remain dedicated to predominately time based charges limiting the use of fixed…
Read MoreAre the Kiwis Coming to Snatch Up our Firms?
Are the Kiwis Coming to Snatch Up our Firms? As we enter June, efforts within the practice transaction space will be at an almost feverish pace as purchasers attempt to wind up due diligence activities and finalise contracts for sale. Whilst transactions take place at all times of the year, the January to June period…
Read MoreRent and it’s Potential Impact on Profitability
Rent and it’s Potential Impact on Profitability With the release of our benchmarking report early in June, the next couple of months will be a great time for firms to review their main KPIs. After staffing costs, RENT is generally one of the next big ticket items. Commonly, rent represents somewhere between 4.5% – 6.5%…
Read MoreWhat’s Your Point of Difference?
What’s Your Point of Difference? I have lived in my current home for around ten years now, and during this time I have watched with interest as shops and restaurants have come and gone along the local strip. In reality it is actually a small group of shops, although quite heavily utilised by the local…
Read MoreDelaying Difficult Decisions is a Ticking Time Bomb
Delaying Difficult Decisions is a Ticking Time Bomb I think it is human nature to avoid making difficult decisions. Perhaps it is more accurate to suggest that implementing those difficult decisions is the most challenging step. We consult with many firms throughout the year in respect of their most pressing concerns and our involvement is…
Read MoreStaff with Equity Aspirations are only ever Going to be Short Term Hires
Staff with Equity Aspirations are only ever Going to be Short Term Hires Over the past year our firm has been assisting practices in search of senior employees with partnership aspirations. Our Equity Opportunity service, while relatively new has highlightedtwo trends within the industry in relation to Practices searching for equity partners. Many firms have…
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