Reigniting that spark with your practice this Valentine's Day!!

Feb 14, 2023

Have you "lost that lovin' feelin" when it comes to your practice?

Well after nearly three years of putting your clients first and helping them through COVID, Valentine's Day 2023 is the perfect opportunity to tackle some crucial practice issues and reignite your love for your work.

With the demands of challenging clients, long hours, and a busy schedule, it's easy to lose the passion for your work and your practice. But, like any relationship, a little TLC can go a long way in getting things back on track. Here are five ways to rekindle your love for your accounting practice in 2023.

  1. Schedule Key Dates Diarise important dates like holidays, office closures, conferences, planning days, crucial deadline dates, set times each week to review jobs, catch up, and dedicate a minimum of once a month to work on your business and review your numbers. 

  2. Work with Ideal Clients Partner with clients who respect and value your work. Get clear on who your ideal clients are and how to attract more of them. Imagine walking into the office each morning with a smile on your face when you see the names of your clients for the day in your diary. Consider if it's time to move on non-ideal clients that cause you stress and grief, or alternatively have a conversation with them to turn them into ideal clients.

  3. Marie Kondo Your Tasks Focus on the work you love, are good at, and can make good money from. Remove the tasks that bring you no joy, are repetitive, or of low value. Delegate or outsource tasks that drain you and make time for work that suits you. You don't have to offer every service; this will only lead to more stress.

  4. Work to Live, Don't Live to Work Assess the number of hours you're working in your practice and determine if it's sustainable, financial and commercial, and healthy for you and those around you. Automate tasks with better processes or technology and challenge yourself to improve your systems and processes. Consider practicing what you preach by getting your business finance in order if that has slipped as a result of tending to the needs of others over the last few years.

  5. Review Your Practice's Performance Nearly eight months into the 2022/2023 year so it's definitely time to show some love to your practice's year-to-date performance and reset your P & L budget if needed. Get super clear on your monthly fee and ITR lodgement targets and communicate this wiht your team. 

Are you up for reigniting your passion for your accounting practice? Sure, it takes effort, but the payoff is definitely worth it. By scheduling key dates, working with ideal clients, focusing on what you love, and working smarter, not harder, you'll find yourself falling in love with your practice again in no time.

If you need a helping hand, I can certainly be your Marie Kondo / Cupid's Arrow and don't forget there's an entire community of like minded practice owners inside my fabulous online community, The Balanced Firm.

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