1. Practice profitability is greater than 25% of gross fees, after paying all Partners/Directors (FTE) a notional market salary between $150K - $300K per annum.

2. Alignment – Partners, Directors and key staff are formally aligned and have a shared vision for the future direction of the practice.

3. Succession – Documented succession plans exist that address valuation, funding, capacity constraints, new services, staff development & upskilling.

4. Advisory Model – Practice provides structured ‘fee for service’ business advisory solutions & sounding board programs to grow a small business client into a SME/ME client.

5. Revenue Mix – Practice generates profitable cash flow returns using mix of services, reducing reliance on accounting/compliance/tax services.

6. Specialisation – Practice is promoting specialist services as a core offering and to attract ‘ideal’ clients.

7. Trusted Experts – Trusted team of experts to support clients financial/nonfinancial needs and who are actively cross-referring clients.

8. Minority Shareholders – Established Minority Interest Shareholder Program to recruit and retain experienced fee earners and secure practice succession.

9. Multi-Disciplinary Staff – Existing staff profile includes a mix of technical, advisory services and relationship management skillsets.

10. Innovation – Using data analytics to assess client needs, identify new service opportunities and track key staff activity levels, conversion rates & revenue generated.

11. Technology – Utilising technologies to improve compliance services efficiency, enhance QA and introduce advisory services.

12. Existing business, farming and high net worth individual clients are currently taking more than 3 ‘Family Office Services’.

13. Adopting the Advisory Services Tax Program strategy for ‘best practice’ advice and to convert existing compliance clients into advisory clients.