“Time keeps on slippin’, slippin’, slippin’ into the future,” sings Steve Miller, and he's not wrong.
Now that tax season is over, you might feel like you have nothing but time.
Time to plant a garden, time to turn off the news, time to do all the things you've been putting off. It's true that time is a valuable commodity, but it's important to use it wisely.
One of the biggest misconceptions in the business world is that selling time equates to premium pricing.
However, the reality is that time cannot capture the value you create for your clients. Don't fall into the trap of spending more time working with the wrong clients just to solve your Pareto imbalances. Instead, focus on building wealth by delivering value in a way that doesn't solely rely on selling time.
Another truth about time is that it doesn't scale.
We all have the same amount of time in a day, and you can't create more of it. Time is your most precious resource, so don't waste it on people you don't like or who drain your energy. Be impatient with your time and choose wisely where you invest it.
It's important to be relentless about where you invest your time because all of life's returns are based on compound interest/time invested. You have the freedom to choose how you spend your time, but none of us know how much of it we actually have.
That's why it's important to start with "no" and prioritize the things that truly matter to you.
If you say you don't have time, that just means it's not a priority. It's okay to have downtime and relax, but it's also important to use your time in a way that aligns with your goals and values. Take advantage of the fact that you have nothing but time right now and Renew your approach to how you use it.
Remember, time keeps on slipping, so make the most of it while you can!
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 better manage their time
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!