Shannon Vincent, co-founder of ReNew, recently spoke with with Roger Knecht of Universal Accounting Center.
They discussed the challenges facing accounting firm owners
They debated the effectiveness of trying to cater to everyone's needs versus focusing on a specific niche, and the importance of having an abundance mindset, which means being open to opportunities and making choices that serve both the business and clients.
Shannon also highlighted the Four "C's" - clarity, communication, culture, and community - and how they apply to accounting businesses. By being clear on your company's values, communicating them effectively, creating a positive company culture, and fostering a sense of community among your employees and clients, you can improve your business and make it more successful.
Additionally, they discussed the impact that accounting firms can have on giving back to their communities. Here, Shannon emphasized the importance of considering the impact your business has on the world and how to use your skills and resources to make a positive difference, giving your business a sense of purpose and making work more fulfilling.
You'll find the interview here: https://universalaccounting.com/blog/2021/12/23/the-business-owner-mindset-w-shannon-vincent/
Taking Action:
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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 transform accountants’ mindsets for the better.
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.
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