Navigating the Modern Way.

A Decade of Entrepreneurship with Kiel from The Modern Way Advisory.

We sat down with Kiel, the Owner of The Modern Way Advisory, an accounting and advisory firm that he founded over a decade ago. Kiel’s entrepreneurial journey began with a desire to break away from the conventional confines of traditional accounting firms. Fueled by a need for flexibility and a vision for creating a modern approach to advisory services, he set out to establish his own venture. In this interview, Kiel shares his journey, challenges and the evolving landscape of the accounting industry.

The Modern Way Founder: Kiel

Creating a Modern Approach

The Modern Way Advisory, as the name suggests, embodies Kiel’s commitment to modernity in the often-traditional realm of accounting. During the interview, he reflects on the initial vision of moving away from the mundane and embracing a dynamic approach to accounting services. Kiel reveals, “I found that there was a real gap in the market with accounting”, expressing frustration with the lack of communication between clients and their advisors, Kiel aimed to provide a more accessible and relationship-driven approach. Going beyond conventional financial guidance, Kiel explains, “We’re not just here to crunch numbers; we’re here to redefine how businesses operate and engage with clients in a modern, efficient way”.

Kiel started with a clean slate, opting not to carry over clients from his previous ventures. This decision was driven by his vision for a fresh start and a commitment to building genuine relationships with clients.

Balancing Tradition with Innovation

As technology reshapes the accounting landscape, Kiel explains his decision to embrace it. He mentions the shift from traditional desktop files to cloud-based solutions like Zero, emphasising the importance of accurate, real-time data. However, what sets Modern Way Advisory apart is its emphasis on forming strong client relationships. Kiel explained, “We focus on being approachable and available for our clients. Technology is a tool that enhances our services, but the human touch remains integral to our business model”.

He explores the balance between people and software capabilities, stressing the need for integration, and viewing software as a useful tool that compliments human skills. The approach positions the agency as a bridge between the reliability of traditional practices and the efficiency of modern tools.

Leadership

A decade into entrepreneurship, Kiel reflects on the impact of leadership. “Leadership is not just about authority; it’s about leading by example and understanding the aspirations of those being led”. Kiel shares insight into his approach of holding regular professional development meetings with his team members. This strategy allows him to delve deeper into their professional aspirations, challenges and preferences. This understanding has empowered Kiel to adapt his leadership style, steering away from assumptions and embracing a more personalised approach to management. His openness to leadership courses and learning about new trends like AI in business shows that he leads with a focus on growing and being adaptable.

Benefits of Co-Working

Kiel shared some insights into why he chose co-working and Riva Offices for his business. He highlighted the flexibility of lease terms, the amenities, and the chance to interact with professionals from diverse industries. Kiel values the “lunchroom chats” and networking opportunities, emphasising the importance of having a supportive community and the positive impact it has on mental health. The decision to co-work aligns with Modern Way’s commitment to a dynamic and flexible environment that fosters professional and personal growth.

As the accounting industry continues to evolve, Kiel and The Modern Way Advisory exemplify a proactive and strategic approach, leveraging technology whilst keeping client relationships at the forefront of their business model. Over the last ten years, Kiel and The Modern Way have shown resilience in the changing accounting industry. They navigate the challenges with innovation and a commitment to client-centric approaches.