The stereo-type of an accountant is that of a very deliberate person.
It is amazing to me how many accounting firms have grown their practices with the approach mentioned in the title above. The biggest problems that owners encounter, usually stem from trying to do too much.
The problem is that too much does stick…and you end up with a messy wall…and an under-performing practice.
There is a better way. Entering new specialties, hiring, and growing fast is not necessarily all bad, but the goal should be to focus on the lines, the people, and the clients that truly and noticeably work for you and not against you.
The key is to build a practice around your strengths and talents.
That requires that the owner:
1.) Know what those strengths and talents are.
2.) Frequently eliminate clients, staff and lines of business that will free up your time and energy to focus on the really fun and profitable work.
Pruning is hard and tedious work and very few people enjoy it and actually do it. The accountants that do a good job of pruning though, find that it’s one of those activities that sticks on the wall very well!