What steps did you take (good and bad) to get to where you are today?

This moment of reflection will help identify the lessons you have learned from running your accounting firm until now.

Do you have any regrets? What were the most successful decisions you made that saw your firm grow?

It’s important to remember that this isn’t a blame game—objectively assessing how you began at point A to get to point B should be an honest process designed to strengthen your practice.

3. Where do you want to go from here?

Now that you’ve reflected on where you are and how you got there, it’s time to strategize for the future.

Focus on the big picture. Ask yourself what success looks like to you. You need a clear vision for the future. It’s what will fuel your strategic plan.

Define your goals, set a timeline, and understand how you will measure your success. And don’t forget to identify the key milestones along the way.

Communication is the most powerful tool at your accounting firm, so remember to clearly communicate these to your team.

4. What needs to happen to get there?

At this point, you have clarity on the state of your accounting firm:

• You know the strengths, weaknesses, and potential opportunities.

• You know how you got to where you are now and what you could have done differently.

• You have a vision and goals.

So, what actually needs to change for you to reach success? What obstacles do you need to overcome?

Get your team involved in this step if they aren’t already. Chances are they will be able to see potential blockers that you simply can’t.

Again, communication is key. Break down the plan for your staff so they understand the goals, the steps to achieving them, and how they play a part in making it all happen.

Team alignment is critical in actioning your strategic plan, and thus, achieving success.

5. What additional knowledge, skills, and resources are required?

Your strategic plan won’t be perfect. In fact, you may have milestones that can’t be achieved with your current team structure/assets/resources/pricing model, etc.

You need to identify your gaps. Maybe your current staffing structure isn’t scalable, or perhaps you have noticed a skills gap in technology-use across your firm.

It’s important to embrace this step when planning your firm’s strategy. Upskilling your staff and balancing your resources will help build the frame that will support your goals.

Buckle up and knuckle down

Planning and implementing a strategic plan is difficult, not to mention overwhelming.

But these questions will help steer you in the right direction so you can create a solid strategic plan that will guide you towards success.