2020 has been a tough year for businesses. All future forecast and predictions were thrown out the door. It taught us to expect the unexpected and do things differently to survive.
We needed to reinvent how we did things and how we could do things differently.
We needed to embrace change.
Australia is managing the impact of the pandemic exceptionally well. Even Anthony Robbins is convinced “if there is any country in the world that weather the financial storm its Australia”.
This gave us a lot of confidence. We looked at the things that we could change.
We have a product that is extremely competitive in the market. A product that sees huge return to our clients with a small investment. We also reached out to our customers and see how we can support them through this very challenging period.
According to IBISWorld, the decline in spending by businesses has negatively affected the revenue of Accounting firms.
But instead of going into a shell, we saw this as an opportunity to do things differently.
The accounting services industry is expected to face improved trading conditions over the next five years (2020-2025). Business confidence is expected to rise particularly with the anticipated roll out of new vaccines by mid-2021. We anticipate that this will increase the demand for accounting services and drive revenue growth.
We decided to invest in a new website.
We believe in the value of our product in making corporate formations simple and at less cost. The new website makes it more compelling the value that Entity Makers bring to its clients. Along with making the new website more user-friendly, we also introduced a new pricing structure to give potential clients the flexibility to choose what is best for their firm.
At the same time, we instituted a new communication and lead generation strategy.
We focused on the things that we could change and do better. In light of the crazy year we have had, we are optimistic going into 2021.
How about your firm? What changes have you made to weather the pandemic and better position your firm in the next five years?
Georgina Abla is the General Manager of Entity Makers. Established in 2016, Entity Makers is a leading platform, created by accounting professionals for professionals to make the process of corporate formations quick and easy. It significantly reduces the amount of time, budget and resources involved in corporate formations.
Please contact me on: email@example.com