| What are some examples of completed consulting work? |
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Advice to the continuing partners in a firm split.
Review of a firm's progress and development of an annual training program, involving technical and non technical topics.
Helping identify issues and tactics for two principals buying out another.
Guidance to a firm formalising work and income sharing arrangements, with a Financial Planner.
Together with a sole practitioner, developing a marketing plan and suggesting tactics to achieve growth.
Advice to the partners of a legal firm regarding arrangements for the introduction of new partners.
Providing guidance (including valuation) to a sole practitioner accountant who was merging his firm with a much larger firm.
Individual coaching of partners to improve billing and collection techniques.
Facilitation of a negotiation between 2 partners whereby one bought out the other. Preparation of the Memorandum of Understanding and briefing the solicitor.
Valuation of a practice, for purposes of employee buy in.
Assistance with the sale of a practice.
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| For what size firms? |
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Projects have been undertaken for individual accountants and also for other professionals. Assistance has been provided to accounting firms of many sizes, from sole practitioners up to firms of 12 principals.
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| How is consulting work project managed by Added Value Corporation Pty Ltd? |
Some consulting projects are undertaken using email and telephone. It is not always possible, or necessary to meet.
As part of the initial engagement, a plan of action is agreed and a timeframe developed. It is then possible to plan the necessary actions. This helps clarify and agree client expectations. |
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| What are the Added Value Corporation Pty Ltd fees and billing arrangements? |
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An hourly rate is agreed prior to starting a project. Also, an upper limit is placed on the number of hours. For continuing projects, once the upper limit of hours is reached, the hourly rate is agreed again and another upper limit of hours set.
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| What are the benefits of using Added Value Corporation Pty Ltd? |
Thea Foster had 11 years as a principal in professional practice. She setup her own firm, brought in a partner, bought him back out again then merged her firm. The merged firm entered a national association and later Thea sold out of the firm.
Over the past 15 years, we have worked with many firms and seen a variety of different developments.
We have successful networks throughout the profession, with industry associations and with the suppliers of support services, to firms.
Through our involvement in The Accountants Peer Group meetings, we are constantly aware of current developments in firms.
Thea Foster participates in United States Practice Management conferences and forums and regularly reviews newsletters and books in order to access trends in practices.
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