Last week we acknowledged the progress made by a small regional accounting firm. It’s safe to say they’re close to unlocking their full potential (full article click here).
Today I’d like to share how to achieve this, and invite you to our FREE webinar on this important topic on September 4th.
WHY AIM TO UNLOCK THE FULL POTENTIAL OF YOUR PRACTICE:
Unlocking the full potential of your practice is something I strongly recommend all practitioners pursue. It’s a much higher purpose than just mastering your own personal income & wealth creation strategy, why?
In our FREE WEBINAR, we will discuss why your clients are more willing to embrace a “support program” offered by your whole team than you might think and how this can even present a more compelling proposition to your clients than you serving their needs directly.
We will also cover how to gain maximum leverage from your employees and your own personal time. So that you are “pushing your own lawn mower” less often and “managing the pushers” more often.
AN INTERNAL SUCCESSION PLAN NOT SO DIFFICULT AFTER ALL:
Treating your business as an asset and making it work for you doesn’t just mean “more money”. In fact, it means so much more. For example, if you ever wondered how to achieve your own succession plan it comes from unlocking the full potential of your practice because when you do this some magical things happen;
- You create sustainable compounding organic growth.
- Growth leads to attracting young talent.
- Talent leads to more internal capability.
- You become more trusting and hand over more work
- Talent thrives on the challenge of a progressive environment.
- Some employees then demonstrate an interest in equity participation.
RESISTANCE THEORY–I AM TOO BUSY:
Often I hear comments like “that’s ok for some but I’m really too busy to make changes”, which is what I call “resistance theory”. That is, the more you tell yourself (and others) you can’t do it the more you will convince yourself.
It’s easy to spend your professional life serving others. There is always another client request around the corner, and delivering outcomes for your clients is extremely rewarding. However many of you have told me at times being a Practice owner can wear thin, especially if your debtors have blown out and/or your cash flow is up against the creek.
KEEP AN OPEN MIND:
I believe the most important thing for all business owners to do is to keep an open mind about their own success prospects, and how brightly the future might turn out for you.
Without doing so it’s easy to bury your head in the sand, stay busy and burn a few years without any significant progress.
I recall one fellow that contacted me upon turning 65 and saying he wanted to sell and retire. The problem was he’d done the opposite of the key message in this article. For so long he had no profit, lots of debt to retire, and found himself unable to sell out because the two didn’t equal out in front for him etc.