June 14, 2019
Recognising that your accountancy practice isn’t working the way you want is the first step.
At this point it’s natural to feel a sense of overwhelming anxiety and think “where do I start?!”
It can feel like there’s so much to do and that it all needs to be done at the same time.
This happened to me a few years ago. My practice had increased fee income by 30% in less than 9 months, but I’d neglected to plan for this, I hadn’t taken on additional resources and I was already at full capacity.
This meant that in July 2017 I was hit by a sudden surge of increased work (we all know an increase in clients doesn’t always see an immediate increase in work – that follows later). Year end accounts and tax returns, vat returns for the new and existing clients were piling up.
It peaked when I went on holiday in and spent the first 3 days working.
Not good? It was ridiculous!!
What was I doing?!
This was my business which was supposed to allow me to enjoy a better work/life balance!
It was no way to live.
So as soon as I was back at work, I set about making changes to make sure this never happened again.
I identified 5 key areas:
I wouldn’t offer services I couldn’t deliver properly at the same time I wouldn’t ignore additional services clients needed. I’d make sure we had relationships with specialist providers.
Not to price ‘on the fly’ – quote a figure to a prospect off the top of my head and then realise once the prospect became a client that I’d got it very wrong.
I’ve covered what I did in these five areas in far more detail in my e-book
5 Ways I Transformed My Practice
So, I had a plan in place, now I just needed to deliver it.
This is when I took the decision to work with a coach. Someone who could hold me accountable to delivering on my plan. Someone who could support me and provide advice when I needed it.
Someone who could help me run the practice I wanted – the way I wanted.
So, if you’re at the point where you know your practice needs to change:
If you’d like help to make the changes to your practice to make it the practice you really want, then please get in touch.
We can have a chat, I’ll ask a few questions, give you some advice and maybe we’ll decide to work together.
But whatever happens – just make a start on those changes!