Adaptive Accountancy, based in Yorkshire, is not your typical accounting firm. Led by Brad Walker, the company is committed to embracing the constant evolution of today’s business world.
In an industry undergoing dramatic transformation, Adaptive Accountancy has positioned itself at the forefront by adopting cutting-edge technologies and innovative practices that help small businesses leverage better data to drive growth.
Unlike traditional accountants who focus on yearly accounts and quarterly bookkeeping, Adaptive Accountancy provides daily financial management, acting as a true business partner to its clients. The firm’s approach shifts the conversation from mere accounting to strategic discussions about sales, marketing, industry trends, and future planning, ensuring that their clients are always prepared for what lies ahead.
In this Q&A, Brad shares the inspiration behind Adaptive Accountancy, the challenges faced in reshaping the industry, and the forward-thinking approach that has led to the firm’s impressive year-on-year growth.
What was the inspiration behind your business?
The inspiration for Adaptive Accountancy came from my personal experiences and frustrations within the traditional accounting industry. Ten years ago, I was working in a conventional accounting firm, and the service small businesses were getting from their accountants was far below what I thought it should be.
As accountants working with businesses of between £100,000 and £500,000 turnover, we have experience from hundreds of clients spanning across almost every industry you can think of. This pool of knowledge can be shared with other business owners, helping them avoid common pitfalls. We’re in a truly privileged position, and we can make massive differences to peoples’ lives by helping them navigate the trials and tribulations of the business world.
I realised that small businesses needed more than just annual accounting services; they needed real-time financial insights and proactive guidance to thrive. I wanted to create a firm that not only provided top-notch accounting but also acted as a strategic partner. The rapid advancements in technology, particularly in AI, have enabled us to double down on advising, as the time spent on the mundane tasks is reduced.
Who do you admire?
Richard Branson – he looks at industries with a fresh pair of eyes, looks at the frustrations from a customer perspective and sets about driving change.
James Clear – author of Atomic Habits, a life changing book that showcases how small efforts, compounded over time lead to amazing results.
Looking back, is there anything you would have done differently?
If I were to start again, I would be much clearer on my target clients. It’s easy to take on every client at any cost to get revenue through the door, especially in the beginning. The problems come later down the road where I’m serving clients with businesses that don’t excite me or where I can’t add real value.
There’s a place for the bog-standard accountant, but that type of work fills me with dread. Give me ambitious, light-bulb conversations with my clients any day of the week. That gives me my “why”. It’s no surprise that after almost 15 years in accounting, completing a set of accounts doesn’t light up my world anymore. But having the data does. Now I’m armed with real facts and figures that tell a story. A story of a business whose book isn’t fully written yet and together we can make the ending.
What defines your way of doing business?
Customer value.
Each client values different things, so we tailor our approach to suit each one. For example, when responding to a client email, instead of a long-written response, I put the camera on and send them a video response because it’s a much more personal response.
Albert Mehrabian concluded that only 7% of communication is made up of words, that’s 93% of service left on the table. If we want tighter connections with our clients, we need to know their goals and aspirations and help them achieve it, so we must view the world from their perspective and respond to their preferences. Some do love the old-fashioned email and that’s okay, but we adapt our approach to suit each client.
A tool you can use to help you get clear on this is the Business Model Canvas, I learnt this model whilst attending the Help to Grow: Management Course – a 12-week programme designed to help business leaders and senior managers increase resilience, innovation and growth. It helped me articulate who my target clients were, and what value I bring to them.
What advice would you give to someone just starting out?
Price correctly.
All too often we see new businesses starting out undercharging to get their first clients, to hit problems with profitability later and be stuck with a client base of low fees. You work more, you’re underappreciated, and you receive less. So price correctly in the beginning, and get help on this if required from an expert, don’t just price the same as a competitor.
Start with the end in mind.
There are two ways you exit a business, either selling, or in a 6ft wooden box. Unfortunately, there’s a high probability that you’re going the box route, statistically speaking. That’s because most small businesses are reliant upon the business owner. Without them, there’s no business. Take the time at the beginning to plan how you want the business to grow, so your team can take over seamlessly when you’re out of the equation.
Failure to plan is planning to fail.
Use resources such as the Business Model Canvas I referenced earlier, to mind map what your business looks like. You can develop out each section in terms of policy and procedure which creates your blueprint on training employees.
Two heads are better than one.
If you can, get involved in some kind of peer group. In addition to the practical business skills, expert advice and networking, one of the best aspects of the Help to Grow: Management Course was the peer support I received from other attendees. In business, it can be lonely, and while people around you think they understand how you feel, they often don’t. They’ve never had a business of their own.
My peer group had a great breadth of experience. I could share my problems and get advice from like-minded small business owners who had been there and done it and it was invaluable.
