Blog

By Joe Winston

At our recent conference our fearless leader Timothy Munro said that we’re here to change people’s lives.

This is a bold statement – it also means that it’s time to make a critical decision about your business:

Do you want to have a classic accounting business?

OR

Do you want to have a wealth building business?

To illustrate this I’d like to tell you a story about trains.

For around 100 years the train business was booming. Everyone used trains to travel or to transport items from one place to another. Rail networks covered all of the civilised world. Life was good for the train industry.

However in the early 20^th century something happened.

Airlines were starting to form and provide ULTRA highspeed transportation and the more they were used the cheaper they got.

All of a sudden it became MORE cost and time effective to send things and to travel by plane.

The train industry suffered dearly and has never completely recovered.

You might be thinking ‘of course they did! Airlines had a superior product’ which they did, however the core problem was much simpler than that.

If you asked the owner of a train company in 1910 ‘What business are you in?’ They would answer ‘I’m in the train businesses’

The point here is that he was NEVER in the train business, there never was a train business or a rail business – trains were merely the PRODUCT the business was TRANSPORT.

Businesses are about solutions, if the train industry knew they were in the transport business all along they would have identified airlines as a competitors MUCH sooner and then they could adapt and differentiate to stay relevant.

So what business are you in?

I would argue that there’s no such thing as an accounting business, just like there was no such thing as a train business.

The business you’re in is defined by the solution you provide. So if you’re not building wealth for your clients than you’re not going to be in business for very long.

We want you to LOVE what you do and truly become an indispensable trusted advisor for your clients.

So... What business are YOU in?