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More Expert Insights for Accounting Professionals

Wednesday Wonders weekly insights for accounting leaders and influencers from Rob Brown

It’s good to increase your commercial curiosity and get a handle on what’s happening out there. So here’s another quick summary of useful stuff for accounting influencers and leaders. This goes out every week to a select list of leaders and influencers in the world of accounting and finance.

1. What I found interesting
What would you buy if you won the lottery? Becoming an overnight millionaire happens quite often. Lotteries operate in many countries. In the UK, 70% of adults (45 million people) play the lottery, buying on average 3 tickets each. This is 57% or 181m people in the US. 9 in 10 winners keep buying tickets. And if you won, how would you spend it? This interesting article tells you what those lucky people do.

2. What made me smile
» What do you get if you cross a joke with a rhetorical question?
» How do mathematicians scold their children? “If I’ve told you x times, I’ve told you x+1 times …”
» A recent finding by statisticians shows that the average human has one breast and one testicle.

3. What I’m listening to
How Xero Got Big & Why Accountants Need to Sell Better. Terrific interview for the Accounting Influencers podcast with the passionate Wayne Schmidt, who helped launch Xero into Australia before it conquered the UK and Asia. Not quite there in the US yet! Get the full shownotes and audio right here or check out on your favourite podcast app.

4. What surprised me
Late retirement is getting trendy. The Office for National Statistics (ONS) says more than half of UK adults plan to work at least part-time after retirement. The average age is 66 but the number of people working past 70 has doubled in the past decade. 45% of people expect to work into their 70s. 9% plan to work into their 80s or beyond. What does that mean for people in the accounting world?

5. Worth checking out
BDO overtake Grant Thornton to get 5th spot behind the BIG 4. Nice piece by Richard Hattersley at Accounting Web about how GT have slashed partner pay, taken a hit on audit revenue and had to extend their year end. Their ‘year of woe’ is in contrast to BDO’s stellar year, with their 25% increase in revenues to £578m. See the difference here.

6. Quote I’m chewing on
“I specialise in…”
I’m a big believer in scripts to help you say the right thing at the right time to elicit the right result. This week, Mark Lee reminded me of a good phrase I advocate when delivering your elevator pitch. That’s your answer to ‘what do you do?’ By all means give them your job title, but add what you’re passionate about, really good at or keenly interested in, Makes you more memorable and more engaging to network with.

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