Don't let May slip away
Stay productive and make the most of this month
It's May already, and you know what they say, "April showers bring May flowers" - but don't let the beautiful blooms distract you from the important work that needs to get done!
Unfortunately, most firms waste May because people are just too tired and burned out from the past few months to be productive. It's like we're all just slogging our way through until summer vacation starts.
As such, it's no secret that non-urgent work piles up, especially for firms with multiple business models under one roof. They're so focused on meeting the March/April deadlines that by early February, they forget about everything else.
But don't let that be an excuse to waste May! There are things you can do to make the most of this month.
First things first, take some time off -- don't wait until summer vacation to recharge your batteries. Taking a day or two off can help you come back to work feeling refreshed and ready to tackle your tasks with renewed energy. Trust me, it's worth it!
Another important step is to set priorities, both internally and externally. Internally, you should focus on tasks that will have the greatest impact on your company's profitability. This could mean working on your Pareto for Profit inputs or fixing any issues that may arise before tax season. Setting specific goals for the number of returns to complete can also help you stay focused and motivated.
Externally, it's also important to communicate with key referral sources and target clients. Sharing your target client definition with these sources can increase the likelihood of finding new clients who are a good fit for your business. Additionally, picking clients to convert to a subscription model can help ensure a steady stream of revenue throughout the year, thereby allowing you to drop Insanity Zone clients causing work pile-up.
So, don't waste May!
Set some goals and priorities for yourself and your team. Most people aim at nothing and hit with amazing accuracy, but you don't have to be like most people. By taking action and being proactive, you can make the most of this month and set yourself up for success for the rest of the year. It'll be worth it in the end!
Taking Action:
If you're interested in more insights like these, consider signing up for our Renewsletter: https://www.renewgroup.com/newsletter. Alternatively, if you'd like to discuss your CPA firm's specific needs, feel free to schedule a call with us: https://www.renewgroup.com/contact.
About the Author:
Shannon Vincent has dedicated his entire career to working with accountants in various capacities. He has consulted with Top 100 firms to Sole Practitioners, helping them create sustainable and profitable businesses. A member of the California Society of CPAs, he received a Bachelor’s Degree in Economics with an emphasis in accounting from University of California, Santa Barbara, and now resides in the San Francisco Bay Area. Shannon is passionate about helping accountants improve their productivity to achieve better outcomes.
About Renew Group:
Are you tired of being on the diet but not seeing results? Most consultants to the CPA Profession do lots of talking and deal in 'fluff'. But there's no accountability and no focus on RESULTS.
At Renew, we start with your numbers. Our firms complete a Pareto for Profit analysis EVERY YEAR, set new targets to improve their profitability and then 'weigh in' regularly. We give you a roadmap to transform the profitability of your accounting firm by accessing our content, collaborating with other firms on a similar path and being held accountable by our coaching team and your peers.
Get paid what you're worth, create a better life based on a scalable business model and eliminate tax season insanity once and for all!