HBC Member Profile – Menthe Accounting

1. Why did you decide to study accounting?

 I started with BCom Sport management in my first year at TUKS. I went to SA’s for Netball and thought sport was the future. When we had to do practical hours, it was difficult to find work.

I was always a “pliggie” in school, so I fell back on my academic successes. I got the opportunity to start my articles at a medium Accounting firm in Lynnwood at the age of 19 and studied part time.

I always loved figures and riddles – and I still do. Every single person and business needs advice on their Finances so I know I will never struggle in finding work.

2. Do you think there is a future for young people to study accounting?

I Truly believe so!

An accountancy certification is always valuable. You will learn how to focus on money management, financial recording and reporting, and the best processes to save cash for a business or sole trader. These skills are desired in every industry. For most accountants, it is never hard to find work. You will be in a profession that is respected and known for integrity and ethics. Accountants are respected business professionals, and accounting is known to be one of the most trustworthy professions. You will become a trusted advisor to others where you work, and your opinion will matter in making business decisions. You can find work anywhere in the world.

3. What makes your accounting firm different from your competitors?

There are several ways you can go about setting yourself apart from other firms without competing on price or one-upping them. The problem with being better, faster, friendlier – or any other “er” – is that everyone else is saying the same thing about their own firm. This makes your claim nothing more than another level of noise your prospects are already trying to sift through. And this puts you back into the position of competing with other firms.

 Ways we set ourselves apart

• Offer unique solutions – Rather than responding to a request for tax preparation, accounting, or payroll services by simply delivering the service as requested, we approach each request as an opportunity to begin a relationship with the client. I am a true believer in entrepreneurship so I will sit and brainstorm with or without you to see how you can expand your business. Referrals cost nobody a sent so we share numbers between clients and if they can make a bigger success of something, I am a proud accountant.
• Niche specialization – When you become good at serving a particular industry, business owners in that industry want to work with you. We offer various services, but we love to do VAT’s and Financial statements. Over the years we have done everything, but you cannot be an expert at everything, and time is limited so for a few areas we got expert consultants in.  
• Embracing Technology – There’s little debate that the accounting world has changed dramatically through emerging technology. And while the availability of apps that automate tedious workflows and connect accountants to clients in new ways seems to be a tide that raises all ships. I started my practice when I was 24 so I “grew up” with all the technology. We love to find new ways to help our clients save time and help them make informative decisions. We are a SAGE Accounting and payroll certified training centre.

When you set yourself apart from other bookkeepers or accountants – be it with niche specialization, unique solutions, complementary services, expertise, or something else – you actually stop competing with them. You become the go-to provider for what your prospects want and need.

The main benefit to setting yourself apart is the ability to command a premium price for the solutions you provide to your clients. There will always be certain prospects and clients who are price or value sensitive – this is inescapable. But when you set yourself apart from the competition – rather than comparing yourself to them – the clients who value the results you can give them and are willing to invest in those results will find you.

4. What is the most important factor making a success of your Accounting business? 

Richard Branson says: “Clients do not come first, Employees come first. If you take care of your employees, they will take care of the clients.” My team comes to work every day with a smile on their face and a genuine willingness to do whatever it takes to get their job done. Finding the perfect employee for your brand and business culture is not always easy. You must get out those who do not take your company seriously and weed out people who do not align with your office environment. What you are left with after this process is a limited pool of highly qualified candidates. Happy employees are the key to your business’s success. Through them, you will dominate the customer service game and accelerate your growth.

By Marochelle Grobler

Menthe Accounting Pty Ltd