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Renew coaching conversations don’t start with theory. They start with real issues inside real accounting firms.
In the last week alone, we have helped firms work through people problems, pricing decisions, difficult clients, capacity issues, offshoring, defining ideal clients, succession planning, and the firm owners being the bottleneck. These are all serious issues that you should be thinking about over the summer so that you don’t repeat tax season next year — because if you don't change anything, you're heading straight back into the Insanity Zone.
Here are some examples of the sorts of discussions we’re having every day as we talk with accountants:
One firm had a team member leave. Annoying? Yes. But also, an opportunity. Too many firms in this industry run permanently at 100%+ capacity and then act surprised when people burn out. This is what happens when the firm is never treated as the #1 Client — every other client gets the team's best energy, and the firm itself gets the leftovers.
The answer was not just “replace the person.” The better answer was, redesign the structure.
In this case, that meant looking at offshore bookkeeping support and a more dedicated tax prep/projections role. Not panic hiring. Not plugging a hole with the first available person. Actually asking, “What talent stack do we need now?” That's a Pareto for Profit question — where do we deploy the 20% of effort that drives 80% of the result?
Another firm was working on its positioning. They had made a good start, but it was still too service-list focused. This is something we see often…no surprise, as it’s not something that accountants are skilled at doing. That’s why being able to lean on Renew as a strategic partner is helpful.
When asked how they position themselves, most firms say some version of:
“We provide tax, accounting, bookkeeping and advisory services to small businesses and individuals.”
Frankly, that is not positioning. It is a menu. In the Renew methodology, Positioning drives Marketing which drives Sales. You can’t market and sell to ideal clients if you have no clarity on your positioning. This is also where the Renew Hierarchy of Firm Development comes in; you can't build the upper floors of a great firm without a solid positioning foundation underneath.
We help accountants figure out real positioning answers, such as:
One firm had a strong IRS background but was underplaying it. You need to stop hiding your light under a bushel! If you have real-world experience that gives clients peace of mind, tax savings, a solid understanding of how the IRS works, make sure your ideal clients know about it.
You should NOT be all things to all people. That is how firms end up with too many low-value clients who consume way too much of your time, and how partners and team members end up back in the Insanity Zone next April.
Another firm was dealing with a difficult client that was on packaged pricing with the firm.
The client did not value the work, questioned meetings included in the package, ignored advice, and had the team cringing every time they emailed or called.
The advice was simple: finish the year, honor the commitment, then let the client know you will not be working with them next year.
Not every bad client needs a dramatic firing conversation. Sometimes the professional move is to complete the work, learn the lesson, tighten the screening process, and move on. The bigger issue in this firm was not that one client. It was that they were not sticking to the boundaries they had set. Even good firms need a reminder to make the firm the #1 client from time to time. It’s easy to slip back into your old ways if there is no accountability.
By the way, if you sell premium packages to people who do not value advice, you will hate your own business model. Premium services require premium clients. That doesn’t necessarily mean huge clients. But serious people who fit your client selection criteria.
One firm had a major growth opportunity with a large client group. Exciting? Absolutely. Risky? Also, yes. Big clients can change a firm quickly. They bring revenue (which does not always equal profit), but they can also create dependency, too many hours, and in many cases, wanting partners to do too much of the work.
In this case, the firm had raised the fragility issue as a concern as an already substantial client had offered them more work. Our advice was practical:
Growth should be STRATEGIC, not growth for growth’s sake. Building a 40-Hour Firm means designing capacity intentionally, — not letting the next big client decide what your week looks like.
We also had conversations with firm owners thinking about retirement, sale, or transition. Buyers are becoming more savvy. You need to understand that your firm is worth more when it is less dependent on you. That means not being afraid to push client management / communication down to your team.
Importantly, you do not eliminate reliance on the owner(s) in 90 days. You do it intentionally, over time. If a buyer looks at your firm and sees that all the relationships, decisions, and technical knowledge still sit with you, they will price that risk accordingly. This is the top of the Renew Hierarchy of Firm Development (the ultimate goal: a firm that runs without the owner is a firm that's worth premium to someone else).
Renew has worked with accounting firms of all sizes for three decades to help them transform their firms, grow strategically, and ultimately transition when the time is right. If any of these issues pique your interest, let’s chat. We’re happy to set up a 30-minute, no-obligation call where we’ll dig into your firm and give you some direction. If working together is right for both of us, we’ll be happy to explain how that works.
