This article was written by Michael Renton, CEO and Founder at Xact Accounting.

My journey began in insolvency at Andersens during the “recession we had to have”. That experience taught me to identify risk early and focus on behaviours that prevent crisis. Over time, I moved into senior commercial roles and eventually founded Xact Accounting, where advisory is central to everything we do.

Three factors have shaped Xact’s success.

1. Strategic sector focus

We chose construction for its high-risk profile and unmet need for specialist services. This wasn’t a casual decision. We embedded ourselves in the industry—spending time on site, engaging with the community, and designing a delivery model that reflects how construction businesses operate. In this sector, survival depends on full financial visibility, a steady pipeline of quality projects, and scaling operations in line with growth.

2. Avoiding trial and error

In construction, landing a few large projects can dramatically shift a business’s trajectory. Growth isn’t just financial—it brings operational strain and risk. Trial and error is dangerous in this environment. Our role is to provide clarity and frameworks that help owners avoid costly mistakes and build capacity the right way.

3. Advisory-first model

We’ve kept advisory at the core through a fractional model that gives owners access to specialist capability. This model supports growth and scales with the business. For us, it also brings professional meaning. Operating externally allows us to influence change objectively—without the constraints of being an employee.

Our mission and model have helped us build a culture that attracts high calibre professionals. That culture delivers professional reward and personal meaning - knowing our work makes a real difference in the lives of our clients and their families.

After more than 30 years as a Chartered Accountant, I see this journey as a reflection of what the profession can offer. It’s not just about reporting history – it’s about shaping futures. By choosing a sector with real need, committing to advisory-first approach principles, and staying true to our vision, we’ve built something rare. These same principles can guide others in practice who want to achieve impact and growth.