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Bonus Full Interview: Will Farnell (Bestselling Author - The Digital Firm)

Published on: 24th October, 2021

On today's deep dive bonus episode, Rob Brown of the Accountants Influencers Podcast interviews Will Farnell on the important components of growth for accounting practices in a digital world.

Will Farnell is a former record shop owner and band manager who then worked in a Big Four firm advising predominantly public sector bodies on efficiency and process improvement. In 2007. he founded Farnell Clarke, an award-winning innovative UK accounting firm in 2007 which was one of the first globally to fully adopt cloud accounting technology.

Will is now a global authority on digital-based strategies for practice growth. He wrote ‘The Digital Firm’, a blueprint for digital transformation and provides consulting services to support firms in becoming a digital practice.

Key shownotes from the whole interview include:

◆ The journey to writing the popular accounting practice book 'The

Digital Firm'

◆ The ultimate definition of a digital accounting firm and the two key areas it covers

◆ Who leads the world in accounting practice digital and cloud adoption, and who is still catching up

◆ Why many accountancy firms who claim to be digital are actually just 'playing at it'

◆ How a digital firm embraces both people and technology to evolve into a 'human firm'

◆ The key difference between accountants in the UK and the CPAs in North America

◆ The key drivers of digital transformation in accountancy practices

◆ What will happen to accounting firms who fail to adapt to change, refuse to evolve and back away from digital reform

◆ The number one reason accounting professionals should want to change, and it's not profits or government regulation

◆ Why accounting firm succession is such a big issue right now

◆ The choices millennials have to invest in an accounting practice

◆ The critical factors that effect the sale value of an accounting firm

◆ Comments on the private equity and venture capital companies moving into the accounting sector to buy firms

◆ The difference between growing an accounting practice and scaling one

◆ What accountancy firms need to do to create more value for potential buyers and become more commercial

◆ The importance of vision and values to build a structure that scales an accounting practice

◆ Blending process, people and technology to deliver success in accounting firms

◆ Different ways to define growth in an accountancy practice or CPA firm

◆ What defines a good client experience for accounting professionals

◆ Questions accountants should ask themselves if they want to give their clients a better experience

◆ The importance for accountants of touchpoints to make clients feel valued and emotionally engaged

◆ The role technology plays for accounting practices in creating a better client experience

◆ Cutting through the compliance vs advisory debate by defining what each one really means

◆ The business landscape in the UK (and probably similar in other countries) and what it means for growing accounting firms

◆ Asking how relevant accountants are to many small businesses

◆ Words of advice for accounting firm leaders to be successful in these challenging times

When not working, you'll find Will somewhere near water on anything that floats, but ideally a sailing boat with the family.

Will Farnell on LinkedIn: www.linkedin.com/in/willfarnell

Will Farnell website: www.willfarnell.com

NOTE TO LISTENERS:

This is a full-length interview (usually 20-30 mins long) from which the highlights show earlier in the week was taken. You can listen to this on a previous episode.

Martin and Rob love to hear from the show's 5000+ listeners in 138 countries around the world. If you have any questions, suggestions, comments or success stories, just type sayhi.chat/aip into your browser and leave us a quick and easy voice message. We may just feature you on the show.

Oh, and if you feel so inclined to leave a show review on any of the podcast platforms/apps, we'd be so so grateful.

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About the Podcast

Accounting Voices Podcast
Accounting Voices helps people in the accounting world stay relevant visible and vocal. Host Rob Brown interprets trends reshaping the profession and gives listeners insight to build authority influence and a stronger voice in firms and markets.
Accounting Voices, hosted by Rob Brown, helps decision makers and leaders in accounting and finance stay relevant, visible and vocal in a profession being reshaped by technology, private equity, regulation and shifting client expectations. Each episode interprets the trends disrupting accounting and finance such as AI, automation, M&A, talent and the move to advisory and translates them into practical insight that strengthens authority and influence.
Accounting Voices is also a platform for the wider ecosystem of networks, associations, educators, consultants, software vendors and technology experts who serve accountants and finance professionals worldwide. It extends into regular Accounting Voices networking sessions that connect this audience and amplify ideas that move the profession forward. With its international reach and long shelf life the show delivers credibility and commercial value for listeners and sponsors alike. Search for "Accounting Voices" on YouTube for all episodes and connect with Rob Brown on LinkedIn to find out more: https://www.linkedin.com/in/therobbrown

About your host

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Rob Brown

ob Brown is the creator and host of the Accounting Voices Network, a media platform that includes the flagship solo podcast Accounting Voices and the panel shows Accounting M&A and Accounting Tech. He chairs conferences, panels and virtual events worldwide and is recognised as a leading advocate for the accounting profession.

He is an accomplished speaker and authority on trust, reputation, employer brand, talent, succession, executive presence and the forces shaping the future of accounting. Rob is the author of the bestselling book Build Your Reputation (Wiley) and his TEDx talk The Personal Brand of You has been viewed more than 400,000 times.

A former co-founder of the Accounting Influencers Roundtable, Rob now focuses on amplifying the voices of leaders, firms, networks, vendors and influencers across the global accounting ecosystem.

Outside of work he is a stroke survivor, lives with epilepsy, holds a black belt in kickboxing and is based in Nottingham, UK. He plays chess and backgammon, loves orange chocolate and is allergic to grapefruit.