Your technology stack is NOT your business strategy. The industry rags, societies and many industry “insiders” grifting off your hard work want you to believe that more tech is the solution to the long hours, stress and lack of profits. Don’t be fooled!
What services you offer, to whom and how you price those services are tier 1 issues (AKA business strategy). Your technology stack should support your strategy and model.
What gives? It’s a heck of a lot easier to enter your AMEX details for the “shiny new tool”... the new project management system, portal or workflow tool than it is to do the hard thinking and work to determine your business strategy. Most firms are allocating finite resources in suboptimal ways.
If you answer the hard questions about your firm model then results and profits will follow. Structure supports strategy, not the other way around. Don’t let the shiny tool delude you!
Finish strong.
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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 inEconomics 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 accounting firms optimize their business models and practices so that they can eliminate unnecessary pain points.
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