Advice for remaining competitive in your accountancy career

Accounting problems small businesses face - 393949

When you reach a certain stage in your accountancy career, you may feel that you plateau, reach a ceiling or simply find yourself out of work. This is common in almost all careers, but it can be particularly pronounced with such a specific skill like accountancy. 

This is because, like all professions, accountancy is continually adapting and evolving, which requires you to adapt with it, or face an insurmountable wall. Furthermore, you may find that other accountants offer new, additional services that lure customers away from you, forcing you to follow their lead.

Thankfully, remaining competitive in your accountancy career isn’t impossible, and it doesn’t even need to be difficult, thanks to a range of avenues you can pursue to sharpen your skills and become more desirable in the marketplace.

For instance, you could take a course that refreshes your knowledge base, enabling you to remain a leading expert in your field and attract customers that reflect this. 

Alternatively, you could adapt your services to changing market demands, adding an additional service or adapting the service you already offer, or become a recognized expert in a certain area, which sets you apart from the competition. 

Ultimately, staying competitive as an accountant requires you to be eager to learn and humble enough to know when you need to improve, which are two qualities crucial for success in any walk of life.

Here is some advice for remaining competitive in your accountancy career:

Take a course that refreshes your knowledge base

One of the best ways to remain competitive in your accountancy career is to take a course that either refreshes or expands your knowledge. By developing your skill-set, you will find that you can improve your service, do a better job, as well as potentially expand into new areas.

The age-old saying goes that you never stop learning, and this should be at the forefront of your mind throughout your career. As soon as you sit back and think you know everything there is to know about accountancy, your career will suffer. 

To ensure that you keep learning, you should take an accountancy course, such as via the CPE webinars, which are beneficial for both beginners and experienced accountants alike. 

Move with market demands

Of course, as with any career, you should try to keep abreast of changing market demands within the accountancy field, keeping tabs on what your competitors are offering and how you might be able to respond to it. 

By remaining flexible to changing market demands, your services will remain relevant and useful to your customers, and you will prevent yourself from being left behind by more adaptive competitors. 

Consider specializing in a certain area

One of the best ways of standing out from the crowd in business is to be known for expertise in one single area, an idea or service that defines your brand. It is no different in the world of accountancy, which if anything exaggerates this principle. 

The reason for this is that, given that there are countless accountants offering their services, you need to find a way of separating yourself from the competition in your clients’ minds. To do this, consider specializing in an area of accountancy, and building a distinctive brand around it that appeals to the people you want as your clients. 

You could, for example, create a wholesome, family-oriented image and specialize in family and domestic accountancy, or you could don a sharper, more serious image and specialize in business accountancy. The more specialist you become the better because although your pool of potential customers drops, the people who are left are far more likely to pick you. By specializing in a particular area, you will find it easier to remain competitive as an accountant in the longer term.

Learn how to market yourself using the latest trends

Naturally, you might find it strange thinking about marketing in relation to your accountancy service, but it could be vital in getting your brand seen, and to drive new clients towards you.

You don’t have to be overly aggressive with your marketing, but it is important to keep up with current advertising trends and stay relevant in what you are doing. 

If you have enough free time, you could even build your brand by starting an accountancy blog, podcast or YouTube channel. This will solidify your status as a leading expert in your field, and ensure that you remain competitive in the market. 

Closing thoughts

To summarize, remaining competitive in your accountancy career doesn’t have to be rocket science. It is more a matter of having the right mindset than any magic formula for success.

Being willing to stay humble and continue to learn, both from courses and your fellow accountants, as well as knowing how to market your personal brand in a way that drives relevant prospects towards your business on a consistent basis, are what matters when it comes to remaining competitive in your accountancy career.

Interesting Related Article: “What is an accountant? Definition and examples