There is only forward
You don’t live through a global epidemic where “life came to a halt” and return to normal.
There is only forward. Some people will wear masks, some won’t. Uncertainty will be with us for some time… related to the Pandemic (particularly for developing countries). One certainty is humans will continue to adapt.
In the US, fear of inflation and expanded taxation reigns in the mind of many business owners. This is an opportunity for you.
The CPA industry has changed in many ways.
- Some firms eliminated some old ways of doing things (paper, too many meetings)
- Some firms developed new ways of doing things (less paper, more remote work)
- Many firms found new muscles and some firms quit using muscles they should have let rest a long time ago.
- It’s clear remote team members is here to stay
- The pandemic has also opened up (even more) the opportunity to serve industries out of your area eg. your market just got a lot bigger!
Most firms have more work than they know what to do with and are in the best financial position they have ever been in.
What’s next? As you know, you have to get clear on your priorities. What is your next move to Play to Win?
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 and accounting firms adapt to a changing industry.
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!