Renew Mindset for CPA Firms

Start asking the right questions

Shannon Vincent
February 23, 2023
minute read

What’s the worst case scenario?  This is perhaps the most common question firm owners ask themselves.

However, this is not the question you should be asking, and doesn’t serve us as we transform our firms.

As firm owners, it's easy to fall into the trap of constantly asking ourselves what could go wrong. We worry about overworking ourselves, feeling undervalued, and the potential for burnout. It's a difficult cycle to break, but it's important to shift our thinking and start asking the right questions.


Instead of focusing on all the things that could go wrong, we need to ask ourselves what we can do to prevent those negative outcomes. For example, if we're worried about feeling overwhelmed, we can ask ourselves what we can do to prioritize our workload and delegate tasks to others. Or, if we're feeling stagnant, we can ask ourselves what we can do to innovate and stay ahead of the curve.


One of the biggest challenges we face as business owners is the potential for burnout. It's easy to get caught up in the day-to-day tasks of running a business, and before we know it, we're working long hours and feeling stressed and overworked. However, by asking ourselves the right questions and taking proactive steps, we can avoid burnout and stay energized and motivated.


For example, if we're feeling burnt out, we can ask ourselves what we can do to take care of our physical and mental health. This might mean taking a break from work and going for a walk, practicing mindfulness or meditation, or setting boundaries around our work hours. We can also ask ourselves what we can do to streamline our processes and make our work more efficient, so that we can avoid the stress that comes with constantly feeling overwhelmed.


Ultimately, the key to success as a business owner is to start asking the right questions. Instead of focusing on the negative outcomes that could happen, we need to focus on what we can do to prevent those outcomes and achieve our goals. By doing so, we can avoid feeling stagnant or complacent, and continue to grow and evolve as business owners.


It's also important to remember that we don't have to do it alone. It's easy to feel isolated or undervalued when we're running a business, but there are resources and support systems available to us. We can reach out toother business owners for advice and support, or consider hiring a coach or mentor to help us navigate the challenges of entrepreneurship.


In conclusion, running a business can be challenging, but it's important to shift our thinking and start asking the right questions. Whether we're worried about burnout, feeling stagnant, or facing any other challenge, we can take proactive steps to prevent negative outcomes and achieve our goals. By doing so, we can avoid feeling overwhelmed or undervalued, and continue to thrive as business owners.


Taking Action:

If you're interested in more insights like these, consider signing up for our Renewsletter: Alternatively, if you'd like to discuss your CPA firm's specific needs, feel free to schedule a call with us:


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 accounting firms optimize their business models and practices so that they can eliminate unnecessary pain points.


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 Paretofor 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!

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