Oxymoron meets DISC
‘Oxymoron. A figure of speech in which apparently contradictory terms appear in conjunction’
Sorry, we were having a little game with the term ‘entrepreneurial accountant’ in our recent invitation for you to complete a free personality profile!
Happily, there was a good response
When we analysed the DISC reports coming back, all of them showed either high Dominance or high Influence scores and lower on Steadiness and Compliance. Similar to the true entrepreneur character that laughs at risks and rule
So not surprising then, that these proved to be accountants already diversifying their revenue streams against the web-based software threat and the increasing costs of compliance and administration.
What about the others?
Most accountants have DISC profiles high on Steadiness and Compliance and low on Dominance and Influence. The opposite of an entrepreneur and just what’s needed in a classic accountancy practice.
But is that a business model to survive the next decade of trading? The current rates of consolidation or closure would suggest not.
So, how can a classic accountant take entrepreneurial action?
Well, franchising and licensing are low risk, in that they offer a readymade business model, that is tried and tested. There may be opportunities out there that complement an accountancy practice. Something that would leverage its client base by delivering an expanded range of related services. In that way, I could imagine the potential to raise fees, stop client loss and attract new ones.
A much less scary route to diversification.
But have you encountered anything that fits the bill? Please share with us and we’ll publish.