CPA Firm Profitability

The first step in moving the needle is owning it

Shannon Vincent
October 15, 2021
minute read

What do you need to take more ownership of?

Own it:  you decide who your clients will be, who can work there and the work you’ll do.

All of us... need to unpack and dig in... where do we need more conviction and agency (more on that below). What do we mean by own it?

“I want to do more Wealth Management business. I am too busy to pursue it. I don’t have time.”

Own it! What does that mean?


It means taking ownership and having conviction around what is preventing you from getting what you want. Hope is NOT a strategy. Neither is being wishy-washy.

Examples of owning it: Telling your team and the public you only work with clients where you also manage their assets. Not taking on more clients that don’t fit your objectives.

“I only want to work with Target Clients. I don’t have enough of them.”

Examples of owning it: Going through the Marketing module on RYAF in detail and developing your go to market strategy which includes:

·         Target Client Definition

·         Defined offering

·         Business to business marketing strategies (eg. forming relationships to access Target Clients).

Similar concept to owning it is Agency: the capacity of individuals to act independently and to make their own free choices. One's agency is one's independent capability or ability to act on one's will.

What do you need to take more ownership of?

·         Your time

·         A team situation

·         A client situation

·         Your business model

·         A situation at home

·         What you really want

First step in moving the needle is owning it! Own it!

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 accountants take ownership of their convictions to create better outcomes.


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.

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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