If you run an accounting practice, it’s likely you have ambitions to grow in some capacity. But this ambition probably comes with mixed feelings, one of which is fear.
Not a fear of growing necessarily, more a fear of what your growth will bring. Will you lose control of your processes or visibility across your team? Do you have to invest in scalable infrastructure? And above all, in your mind you’ll require a larger team, which brings a whole new set of problems.
More bodies means more training and management. You’ll be faced with challenges finding the ideal talent and building the right team, not to mention keeping your existing staff happy and valued. There’s a reason acquiring and retaining the right staff has been identified as the number one barrier for accounting firms.
It’s no wonder that despite your appetite to grow, you might be tempted to stick with running your practice the way you do now. But wouldn’t this be settling?
There's a much smarter way.
Growing your accounting firm doesn’t require a bigger team. You don’t need to turn your back on the reasons you built your business in the first place, spend endless hours recruiting and training, or create a whole set of new problems for yourself. Not if you are smart about your method of growth.
You need to be clever about the way you utilize your existing resources. Improve your efficiencies in every possible way. Automate wherever possible. Look at where the most revenue is coming in, and make changes that will empower your team to boost their output. If you can do this properly, growing your practice will be a certainty. And this can be without any increase to your staff overheads.
In Edition 3 of Karbon Magazine, we'll be exploring how your practice can do all of this. You’ll find out the essential steps, and how to put them into action. And each of these outlined improvements you make will have a direct impact on the organic growth that you should be striving for—an increase to your topline. It’s time for you to harness the power of efficiency to fuel your firm’s growth.
If you’d like to add your voice to the discussion, please let us know.