Episode 66: The Multiplier Effect of Relationship Based Business, with David Woods

“Lead with love not fear”. That’s just one of the mantras that David Woods applies in his unique approach to accounting and tax planning at Active Accounting Group in Newcastle. In episode 66, Sam explores this philosophy and more as she speaks with David on why it’s imperative to make personal connections and develop collaborative relationships with clients.

In a world where small businesses need to make quick decisions and can’t afford to wait around for information, David explains how empowering his people has resulted in better outcomes and more effective client engagement for both himself, his business partner and his team.

When we think accounting and tax planning we don’t typically think of personal growth and vulnerability but it’s these traits that have allowed David to develop meaningful partnerships for his team and client base. This episode explores the multiplier effect of taking the time to build trust, seek feedback and invest in personal development, and how leaning into discomfort can help you build stronger connections and exponentially improve your bottom line.

Listen to an excerpt

What we cover in this episode

●       How a flat, more empowered, accounting structure can better serve the needs of your clients

●       When is the right time to do tax planning

●       How to deal with the skills shortage in accounting

●       How to take accounting advice from good to excellent

●       How to add value to client’s businesses by learning from each other

●       Why accounting businesses are relationship businesses, not just tax businesses

●       The multiplier effect of personal development and mindset on your business

●       David’s three tips for building a better accounting practice

Quotes

“We have well qualified and experienced accountants who have the ability to have really good relationships with the clients, good conversations and discussions with those clients and build that relationship” - David

“Small businesses want to make quick decisions and move on quickly, they don’t want to wait a week or two or five weeks to make a significant business decision” - David

“Personal coaching and business coaching is the same thing, it’s about how you show up personally and vice versa, you can’t do one without the other” - David

“The definition of an Accountant – one of them is to keep people accountable. Health and wealth are linked. What we do around finances greatly impacts people’s health” - Sam

“That’s how accountants can go from good to excellent - by being able to have better conversations and explaining why they do things” - David

“Fear based mentality doesn’t allow you to grow, or your business, or your senior accountant or your client, so giving that level of freedom to your team is an integral part of the business”- David

“We want to learn as much as we can from our clients, as much as they want to learn from us. Going forward, the collaborative businesses, and bringing all that information together, will be powerful” - Sam

Links

Connect with David at https://www.activeaccountinggroup.com.au/

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