Withdrawing yourself from the right divisions in your firm
Every activity within your practice requires, at some stage, trust to let someone else handle it—from doing your client's work, to letting someone else do your own work.
But what if there is too much information disclosure? That’s a fair question. Remember: there are millions of businesses out there where certain employees have access to private information. This is not unique.
The focus should be on hiring the right people, rather than worrying about what a bad employee will and will not do.
Yes, there are good and bad employees, but it’s about identifying the right employees. This is the challenge that all businesses are faced with.
Otherwise, you will never let go, and will remain a prisoner of your business.
In my experience, working on my business instead of in the business was a better utilization of the wages that were paid to me. Separating ownership from occupation will help put a value on your time.
To prevent yourself from being a prisoner to your business, and spend your time improving your business, you not only have to hire the right people, but you must withdraw from the different divisions in your firm.
Understanding the divisions
To scale your firm, you must operate with the following seven essential divisions:
1. Board of Directors
This is your leadership team. As the firm owner, this function should ultimately be the last one you withdraw from.
2. Marketing
A goal of marketing is to bring consistency between who you are, and who you say you are.
3. Sales
Your sales process is how you convert someone who is interested in your services into a paying client. In a firm’s early stages, the founder commonly takes on this responsibility.
4. Production
This is the engine room of your accounting firm. It’s responsible for delivering the services that your clients are paying for.
5. Quality (Client Success)
To make sure your accounting team is providing the level of service you expect, you’ll need to build a process for client success.
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