Renew Case Studies

Talk is a Substitute for Action

Shannon Vincent
October 17, 2024
5
minute read

Renew firms love the quote, "Talk is often a substitute for action." If you find yourself thinking after October 15th, “I can’t do this again,” or “This is too much,” you’re not alone. Many share your frustrations, but the firms working with Renew have made changes to work less, profit more, and serve the right clients. Renew firms are enjoying the benefits of running a profitable accounting business while maintaining a 40-hour workweek year-round.

How do they do it?

They focus on their Tier 1 issues. These are the core business decisions that define success:

  • What services will you offer (and not offer)?
  • Which clients will you serve (and not serve)?
  • How will you price your services to create and capture value?
  • What are your business goals?

These questions are more important than the latest tech or AI trends. Trust us. In our experience working with hundreds of firms over the past 50+ years, technology alone won’t solve your business model challenges. First, you need to address your Tier 1 issues before moving on to Tier 2 solutions like tech and AI.

I recently had the opportunity to speak at Botkeeper’s recent AI Unchained Conference, and identified a key issue firms are struggling with:

  1. Being all things to all people. It’s critical to decide what to say no to. In many cases, cutting "Insanity Zone" clients (those transactional, once-a-year clients who demand free services) is far more effective than adding new ones.

Don’t believe me? Hear it directly from two firms that decided enough was enough:

From Blake:
“We’re wrapping up our 17th tax season, and it’s amazing to reflect on how far we’ve come. Gone are the 100-hour weeks and the chaos of a second busy season. None of this would have been possible without the guidance from Shannon Vincent and Colin Dunn at ReNew Group. They’ve helped us get to where we are today. Onward and upward—time to make next year even better!”

From Perry, now part of a large regional firm:
“Blake, I couldn’t have said it better. Our administrative team said that Sacramento is now our favorite office. As we approach the deadline, we have minimal cleanup.”

If you’re ready to make a change and leave the grind behind, let’s talk. If not, ask yourself—when will you make the changes you know you need?

Happy October 15th to all who celebrate! 🎉

Shannon Vincent

Co-Founder, ReNew Group

510.693.7077

Schedule a call with me : https://go.oncehub.com/ShannonVincent

Join our Renewsletter for a better firm and life: http://www.renewgroup.com/newsletter

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