Inefficiency strangles business growth. Plain and simple, there are several obstacles that each and every accounting firm must overcome if they intend to successfully grow. This is an introductory course to implement the 8 Pillars for Exponential Business Growth in an accounting firm. The 8 Pillars include:
The intent of this course it is to demonstrate the importance of the 8 Pillars to growing a traditional accounting practice. We will cover details in an intermediate and advanced course later on. We will also discuss action items that you can implement immediately in order to start building your accounting practice.
This lecture includes a high level overview of the course.
Are you working on or in your business? This key distinction can make the difference between success and failure.
How important is operational efficiency to the survival of your business? Absolutely crical!
We introduce a five step process to digitize your data, also known as "going paperless".
How can a "project management" mindset improve the efficiency of your firm?
Treat your workflow like an assembly line to see great gains in efficiency.
We define 5 staffing models and introduce the advantages and disadvantages of each.
Action steps that you can implement immediately in order to realize greater operational efficiency.
Brief recap of the Operation Efficiency section.
We discuss the significance of marketing in the success of an accounting firm, as well as focusing on how networking can be leveraged for growth.
Actions steps that you can implement immediately to build your firm through marketing and networking.
Do you have a consistent sales process? How do you ensure that your clients know about the services that you offer?
Actions steps to create a deliberate and reliable internal sales process in your firm.
In this lecture, you will learn how to build your firm by focusing on a specific niche. We will explore how to leverage a niche to improve both your marketing and sales efforts.
Action steps to help you identify and develop a niche for your firm.
We introduce the concept of value pricing and encourage you to investigate how value pricing can help you build your firm.
Action steps to help you implement value pricing.
This section introduces disruptive technology that can help us build modern firms without the limitations of a traditional Information Technology infrastructure. We will focus on how the cloud can be leveraged for growth.
We will define the cloud so that we have common terminology for future discussions.
What questions should you ask your cloud provider before turning over your data?
Overview of the benefits that you will see if you introduce cloud solutions into your accounting firm.
Can you leverage the cloud to reduce your IT costs? Absolutely! We talk about the differences in cost structure between a physical server and a virtual server.
Examples of cloud technology that you can leverage to build your firm.
Action steps to help you identify and implement the appropriate solutions for your firm.
Starting point to identifying and implementing value added services for your clients. Our goal is to increase your average fee per client.
Action steps to assist you with identifying and offering value added services to increase your firm's revenue stream.
Do you deliberately manage your practice or does it manage you?
Critical success factors are those items that your firm has to do well if it is going to survive. Do you know what they are for your firm?
How do you measure success in your firm? Key performance indicators should be customized to measure success in your firm as you define it.
Do you ever fire a difficult client? If not, you are missing out on one of the rare treats of running your own firm - choosing who you work with.
Action steps to improve your practice management.
Thank you for joining our introduction to the 8 Pillars for Exponential Business Growth. The next step is to take action!
I have been in the accounting industry for over 20 years. In that time, I have pursued every opportunity to advance my knowledge in the field of practice management and technology. The result is a unique combination, someone with the ability to interpret accounting and technology and translate the two into everyday language.
I provide training and consultation for accounting firms and bookkeeping businesses that are specifically looking to grow.