The Gap Between Now and Your Success
What does success mean to you? You’re more likely to achieve success on your terms when you clearly define your vision. Have you considered the small business goals for your accounting practice?
Without intention, you end up being all over the place. That’s when you say “yes” to a client’s request although it’s unrelated to accounting services. It’s a sign that your business controls you instead of you controlling your business.
Work Your Plan
Although you’re busy, carve out the time to define your strategic growth plan for the next 12 months. This article is for growth minded accounting professionals who are tired of doing things the way they always have.
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That’s why you want to define the gap between where you are now and where you want to be by this time next year.
Where Are You Now?
Consider where you want to be as a destination, similar to getting from Las Vegas to New York. There’s more than one way to arrive at your final destination. Once you know all the options, you choose the best one.
Before we get started, I have a couple questions for you. Do you have specific end-of-year milestones for this year? Will you reach them? If you didn’t have a specific target for this year, it’s time to clearly define what you want to achieve over the next 12 months.
I realize you’re not doing bookkeeping or accounting solely for the money. The numbers may not be your top priority. As you know, metrics serve an important purpose. They offer insights about your level of effectiveness and profitability.
Assess your financial health
So ask yourself these questions. How much did your accounting practice bring in this year? What were your expenses for the past 12 months? Are you satisfied with your income?
Get a clear picture of your current situation before you start to define your small business goals for the next 12 months. As you consider those things, be brutally honest with yourself about whether you’re meeting your financial goals at the cost of physical exhaustion. Take a few minutes to write down where you are right now.
1. Your business financial health.
2. Your satisfaction level – scale it from 1-10.
3. The tasks you don’t enjoy doing.
4. The tasks you love to do.
Taking stock now will influence your plan for the next 12 months.
What You Want to Achieve
Now write down the specific milestones for your accounting practice. What do you want to achieve in 12 months from now?
1. Decide how much net income you want to generate next year.
2. Your satisfaction level – scale it from 1-10.
3. The tasks you want to delegate.
4. The people who can help you reach your goals.
This list is slightly different and is meant to challenge your mindset. Keep an open mind as you go through this exercise. List which tasks you plan to clear off your plate over the next 12 months.
It’s possible to improve your financial health, increase your satisfaction level, hand over the busywork you’ve been holding onto, and develop a supportive team who believes in your vision.
If you don’t know how to do those things, that’s okay. The first step is to acknowledge your desire.
Mindset is Powerful
Carve out time to get crystal clear about what you want. Clarity guides your decisions. Most accounting professionals tend to downplay what they want to achieve. Don’t go for the “sure thing.” That’s not going to get you excited.Most #accounting professionals tend to downplay what they want to achieve. Don’t go for the “sure thing.” That’s not going to get you excited. Read full post. #getpaidwhatyoureworth Click To Tweet
Let’s get real – thinking positively isn’t enough. You’ve got to combine your inspiration with action.
Consider your friend who has positive affirmations posted everywhere in the house, but remains stuck with gloom and doubt. Don’t be that person. Develop a clear vision which inspires every action you take.
The Nitty-Gritty of Letting Go
Clear the decks for success! Now that you’ve written your small business goals for the next 12 months it’s time to evaluate your action plan. More importantly it’s time to clear your mind of limiting thoughts and feelings. Fear paralyzes you physically.
Remember your original destination is like going from Las Vegas to New York. Fear prevents you from flying in a plane, riding in a train or driving your car beyond your hometown.
There are many ways to approach the multiple tasks which will grow your accounting practice. But does your mindset get in the way? Honestly assess how you stop yourself. Which specific negative thoughts take up space in your mind, interfere with your plans and stall your success?
1. I’m not good enough.
2. And it’s opposite – I’m the only one who can do this.
3. They won’t accept my proposal so why should I bother?
4. I’ll lose clients if I raise my rates.
5. The people on my team don’t listen to me.
You get the idea. Every time you feel resistance, take a look at the negative thought which keeps you from getting the job done.
Cleaning Task Overwhelm
Make the decision to delegate as many tasks as possible during the next 12 months. Yes, letting go of a task can be difficult. But, you’re more likely to achieve your vision by getting specific tasks off your plate.
List all of your tasks – don’t hold back. Then, put a name other than yours next to each task. If you don’t know someone right now who can perform the task, then write “team member” instead.
Add finding a way to outsource your tasks to your action list. Now, go back over your list and choose the tasks you love to do and help to advance your business. Put your name next to those specific tasks. Since you’ve already delegated all of the tasks, you perform the ones which only you can do and that you do exceptionally well.
Who Can Help You Reach Your Small Business Goals?
You can’t achieve success on your own. It takes a team. As a result, people are the heart of any accounting practice. This includes your team, your clients and your community.
Your team extends beyond employees or contract workers. Think about outside collaborators. One of my accounting clients teamed up with another business owner to bid on a project. Their proposal was stronger because they collaborated together.
Consider a mentor who takes an honest look at your business and gives you tips which will grow your business faster.
Identify the people who love what you do and happily refer others to your business.
When you think about it, you probably have a team already. Share your plans with them, thank them for their contributions and acknowledge how they’ve contributed to your current success.
With a solid team in place, you find yourself doing less, yet accomplishing more.
Let’s Clarify Your Small Business Goals
My clients frequently hear me say that success is messy. Set aside time to clarify your plan for the next 12 months. If you’re not feeling confident, that’s okay. Courage trumps confidence.
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