Do You Tolerate Too Much?
You get so busy in the day-to-day operations of your accounting firm that you don’t even realize how much you’re tolerating. You want to grow your dream accounting practice. Although you continue to hold onto that ideal, it seems in the distant future.
The list of things you tolerate gradually lengthens over time.
👉 Clients who aren’t priced correctly.
👉 Treated like an employee by certain clients.
👉 Headache clients who consistently question you.
👉 Emails from clients which cause your heart rate to speed up.
👉 Clients who require additional time and drain your emotional energy.
What would you add to the list?
Tolerating too much, and for too long, has a downside. If you let it continue, overwhelm and burnout eventually set in.
You want to grow your dream #accounting firm. However, you get so busy in the day-to-day operations of your firm that you don’t even realize how much you tolerate. Read full post. #getpaidwhatyoureworth Click To Tweet
The Fear of Change
Daliah Fritz, owner of My Small Business Pro, has a rapidly growing accounting firm. Because of that, she routinely worked 10-to-11-hour days, doing everything to meet client responsibilities. Working long hours, without any breaks, felt hectic and unpleasant.
First starting out, she needed every bit of business she could get. But, it was time to re-evaluate her growth strategy. That’s when Daliah realized parts of her business no longer served her.
Like many accounting professionals, she craved change. She wanted to get back on course to build her dream accounting practice. Since Daliah wasn’t sure how to make that happen, she continued to tolerate the status quo.
The Mindset Piece
It was time to increase her rates. Letting go of her low value clients challenged her comfort zone. This move felt scary.
Her list of changes included:
▶ Raising her rates.Check out this post about how to charge for your services.
▶ Moving clients to a higher level of service.
▶ Focusing on clients who valued her firm’s services.
The End Result
Within 5 months, Daliah implemented specific strategies to grow her bank account and free up her time.
Having a dream accounting practice meant:
✔ Letting go of non-ideal clients.
✔ Packaging her services.Here’s what you need to know about packages.
✔ Raising her rates.
✔ Fine-tuning her on-boarding process.
✔ Creating a new stream of revenue with services she previously gave away for free.
The 10-to-11-hour days are in her past. Now she routinely works, on average, 8 hours each day.
In addition, taking charge of her accounting practice raised her quality of life.
Grow Your Dream Accounting Practice
Daliah rose up to the challenges.
If you want to grow your dream accounting practice, then pay attention. Doing so requires some subtraction and addition. It’s a matter of shedding low value clients and activities. Then, amplifying your firm’s value to grow your profit margins.
Daliah now enjoys:
👉 Working with high value clients.
👉 Setting prices which reflect her value.
👉 Reducing her work load.
Watch her interview to discover the exact steps to grow your dream accounting firm. By the way, she has a lot less anxiety, eliminated the burnout and no longer has her heart rate go up when clients email her.