There is a difference between providing bookkeeping services with a clearly defined growth strategy and bookkeeping without a plan. When you lack clarity about who you serve, what you offer and how you’ll grow, you end up spreading yourself too thin. But, what if you possessed a roadmap? A bookkeepers strategic growth plan serves as your success guide. Instead of your business being in charge of you, you’re now in charge of your business.
Do You Wonder if You Need a Strategic Growth Plan?
Have you ever sat back in the middle of a hectic workday and wondered why your business isn’t further along? Indeed, a well-defined strategy is an important stepping stone to success. It’s frequently overlooked because many bookkeepers are busily working IN their business. As a result, they fail to set aside time to work ON their business. Would you like to double your business over the next year? Research shows how a clear strategic plan speeds up your growth.
Forget the SMART Goals!
Leave the SMART goals where they belong – in the 80s. SMART goals are often talked about, yet they fail where it matters most: motivation. If you traditionally set New Year’s Resolutions, you realize goals gradually lose their appeal over time.
Do you have a habit of starting something, but your interest fades over time? As a result, you rarely finish what you start. That’s why I encourage my clients to ditch the SMART goals. As boredom sets in, you find yourself searching for the next bright, shiny object.
SMART goals set inflexible time frames. It simply does not make sense to set specific dates for goals when life and business are unpredictable. While the world is highly dynamic and ever-changing, SMART goals are overly rigid.
A better solution exists. Consider the reasons you first started your bookkeeping practice. You possessed a dream. You crafted a vision. Your strategic plan serves as a guide for your vision. Since it’s fluid, you can alter the course when necessary. Your interest remains high when you connect your plan to something personally meaningful. You remain engaged from start to finish, because of what it represents to you.
Carve Out Some Time to Focus on Your Numbers as Opposed to Your Clients’ Numbers
Go ahead and carve out time to focus ON your business. Do this without guilt. The time you spend focusing on your bookkeeping business will pay out in the long run.
Your business deserves your attention. And, what you focus on expands. Give yourself the same focused attention as you give your clients.
Zero in on the details of your numbers. This sets the stage for success. Pinpoint the weak spots which lower your numbers. Then, carve out time to strategically plan how to improve your numbers. Finally, determine the action steps.
Run your numbers. Review the analysis to discover what lowers your profits. Is it low value clients? Do some tasks have lower profit margins? Ask yourself these hard questions to uncover ways to improve your own financial picture.
Develop a Plan to Boost Your Income Without Working Additional Hours
Time is your most valuable asset. You will never get your time back. Once time passes it is gone forever. The challenge lies in developing a strategy that enhances your income without sacrificing your precious time.
Why bother working additional hours when you can work less in a more focused manner, for higher-paying clients and make more money? Even if it takes weeks or months to identify the optimal strategy to boost your income without working more hours, it is well worth it. When my clients implement their strategic growth plan, they no longer feel a slave to their business.
Continue to Set New Milestones as You Progress
Highly successful bookkeepers realize progress is more important than perfection. Develop a strategic growth plan which allows you to earn more while working less. Commit to following through with your plan. You earn more when you separate your fees from time. Intentionally connect your plan to your vision.
Instead of goals, create milestones. Milestones serve as stepping stones within your roadmap. Since your strategic plan is fluid, allow yourself to modify your milestones when necessary. Every 90 days carve out time in your calendar to review your progress and adapt your milestones. That’s because you gain insight as you work the plan. Circumstances, which are beyond your control, may require you to alter your course.
Be flexible, strive toward new heights and your bookkeeping business will steadily grow, helping you turn your vision into your reality sooner rather than later.
A Strategic Growth Plan Combined with Value Pricing will Fast-track Your Success
Make today the day that you kick-start your bookkeeping business’s growth. Zero in on your numbers, start value pricing your services and you will maximize the value of your time. Claim your FREE RESOURCE today to fuel your company’s growth, connect with target clients and reach your true potential as an entrepreneur.