'It’s all about creating choices that work for accountants in practice'
Author and speaker Shane Lukas has worked with over 1,000 accountancy practices over 20 years. Here, he talks to Accounting Insight Editor Ian Moss about his career, his life and his ambitions.
The here and now….
How did you get into this business?
I had been in partnership with my good friend Mark Wickersham who had at the time had a separate accountancy practice. Mark had recently attended an AVN event, hosted by Steve Pipe, Mark’s practice joined AVN and soon the three of us pooled our respective experience, talents and resources in to AVN enhancing its offering and ability to transform the lives of accountants by improving the way their practice operates. Twenty years later I am still helping accountants transform their lives, it’s what drives me every day.
What can accountants learn from you?
How to overcome many of the problems they face right now in their practice. Whether it’s how to differentiate in a sea of sameness, how to attract much better quality clients, how earn significantly better fees and be much more appreciated by clients through to developing a team of people who are as passionate about growing your accountancy practice as you are and how to deliver true business growth advisory in a highly paid, highly valued fashion whilst all the time, working less hours, earning more income and getting much greater sense of fulfilment and enjoyment from running the practice. It’s all about creating choices that work for the accountants in practice.
Does the idea of information overload concern you?
No.. OK, that’s the short answer. Information is king but it has to be the right information, that truly adds value to a practice. You also need to use the opportunity of technology to see through the vast amount of information and be able to see trends that allow you to make good decisions, rather than just being caught up in the data. You can easily be a busy fool. The future holds more information, better tools and those that can use them effectively will be the winners.
What’s on the horizon for you and the sector?
In my book - What’s Next For Accountants; How to make the biggest threat facing the profession your biggest opportunity - I describe how the multitude of accountancy and bookkeeping packages are improving every day and with a seemingly infinite number of bolt-on packages available too each in competition with each other, each striving to automate more and each ultimately aiming for 1 click solutions in their software are the threat to compliance accountants. The forward thinking accountant is the one who isn’t competing with the software but using the output from the software to have better quality conversations with their clients. Business owners don’t want to pay big fees for compliance accounts or reports with fancy graphs and charts... what they really want is to have meaningful conversations with their accountant about how to improve their business so that those reports look better going forward and they will gladly pay premium fees for this.
As an influential voice, what impact do you want to have on the industry this year and in the long run?
Every accountant that I’ve met has demonstrated a desire to make much more of a difference but they don’t always believe in themselves or have the skills to make the difference they want to make. Our strap-line is "Inspiring Accountants"... we inspire accountants to be inspiring accountants to their clients and make more of a difference in the world. By inspiring accountants to believe they can change lives, by sharing strategies that work and by handholding them through a transition of change in their practice I’d like to think I’ve played a small part in helping the hundreds of thousands of business owners and the millions of lives that have been impacted on by those accountants.
Early Days
Where did you grow up?
I have always lived in Chesterfield, right at the very heart of England. For a short time I lived in a caravan with a coal fire on a plot of land while my dad was building our house. I spent many of my weekends helping my dad on weekend jobs where I would be involved in building and renovating. This is something I have carried forward with my children as it was a great way to grow up and I am eternally grateful to him.
Were you any good at maths at school?
I was always great at calculating the number of minutes remaining until home time! Algebra was a complete mystery to me until I realised I was already doing it in my hobby that was computer programming. and then it just clicked. I realised then and continue to be mindful that often, it’s about how we’re taught that helps us learn and we have to be adaptable in our approach when teaching others.
Trivia/Miscellany
What’s your favourite film? (you’re allowed more than one)
Mary Poppins, The Wizard of Oz Chitty Chitty Bang Bang
In my childhood we’d all sit together and watch these films every Christmas. I often talk about creating grooves as memories with our children. Also, each film has an underlying and much deeper meaning aimed at the adult sitting with the children. And the Albert Finney version of Scrooge. I like all versions of Scrooge but Albert Finney just tops it, the obvious moral to the story being that it’s never too late to make a change for the better.
What’s your favourite book? (you’re allowed more than one)
I read lots of books business/personal development and novels but I don’t have a favourite. Although Dan Brown novels in general are amazing.
What’s your favourite type of music?
Classical, I find it great for concentrating and giving me focus whether I am running, cyclng, in the car or working.
What’s your ideal day out?
Unplanned, sporadic day at the beach or theme park with family. Where you can take advantage of the opportunities that come along, rather than having to stick to a plan.
What’s your ideal holiday?
Cruises because every day you are in a new place and you get the chance to visit and explore. Seeing the sights, culture and being immersed in the experience. And not having to live out of the suitcase during that travel.
Is money the root of all evil?
No, favouring the things that money can buy at the expense of people is. A great quote from Dalai Lama that I often think of is: ‘People were created to be loved, things were created to be used. The reason why the world is in chaos is because things are being loved and people are being used.’ One of the great things you can do with money is help others less fortunate that you, I am big advocate of B1G1 and a charity called Head First for those with brain damage, which is very personal to me and my family.
Do you support a football team?
Nope, I only watch European or world cup level if and when England have reached quarter final stage. Only then do I scream at the TV. Despite this, I do understand the off-side rule though :-)
Do you have a heroine or hero?
Arnold Schwarzenegger. Since being a child he’s set crystal clear goals and put in whatever effort was required to achieving them be it. Those goals include - Mr Universe, A multi-millionaire businessman, A film star, A governor and president - the only one he hasn’t (yet) achieved. He has worked hard and achieved his aspirations.
Shane will be speaking at Accountex on May 23 at 10.15am in the How To theatre.
