Do not get caught up wasting your days thinking about or chasing the perfect accounting firm. That way leads to doom and depression. The only version of success you should be focussing on and chasing is your own.
I’ve had a few conversations about this “one perfect firm” over the past few weeks and have found the result has been that directors of good firms with opportunities on their desk and great people on their team feel inadequate, discontent and deflated. The idea that everyone has the “opportunity to start again… but maybe not in the firm you are in”, frankly makes me concerned.
“So Sharon, when you are reincarnated who do you want to come back as?”
Total BS and takes attention and joy away from all the good in your current situation.
Don’t throw the Champagne out with the cork!
Rather than invest time in lamenting how far away you are from the perfect accounting firm, do the following:
1. Get that clean sheet of paper and write down what your version of success is.
That might be 60 clients at an average spend of $30K each in the following three industries with a team of three people (as it is for one of our firms, this was decided in December and he has 57 more to go get… #success)
It could be 800 clients who come to your firm for everything, accounting, finance, wealth, legal and business advisory (mmmm 110 internal referrals per quarter #success)
2. Now look at your version of success and add some detail around what a good day at the office would look like.
3. Then chase it down.
“Success: define it, imagine it, go get it!” – Sharon McClafferty
Rather than 50+ dot points on the single perfect firm here are three versions of perfect to get you thinking boldly about chasing down your version of success.
1. Husband and wife team who have a firm based in Australia, however, they live the majority of the year between Bali and Italy. They look after their clients’ accounting and advisory and inspire them to live the lives of their dreams.
2. A firm with an 80-year history where the current owners have individual tributes to all the previous owners on their website and are looking after the fourth generation of some families. Supporting each other as business partners but also as friends during tough times. Taking home $600K each and investing time in their team so the legacy continues.
3. A sole practitioner who surfs every morning and has a coffee with a different client each day. He has a small dedicated team who have a minimum tenure of 7 years and they get along so well that they socialise outside of work weekly. The director has helped each team member buy a home and they are focused on financial freedom for their clients as well as themselves.
When it comes to business, perfect is subjective.
What would your perfect firm look like?
Sharon McClafferty is a director of Slipstream Coaching, a company dedicated to assisting financial practitioners to achieve their potential. Sharon can be contacted via phone on 0473 491 976 or email@example.com