Small practitioner? 2023 might be your year. Here’s why.
While you’re furiously crossing off “2022” anywhere you mistakenly write it (does anyone write checks anymore?), you’re probably wondering what 2023...
You know the drill. Accountants block their entire calendar from January through April, and usually another 4-8 weeks in the fall, for clients requesting extensions. The profession on the whole knows the term “busy season.”
Want some advice on preparing, hiring for, and maintaining your sanity? It’s as easy as doing a web search. The amount of advice, listicles, webinars, and podcasts are staggering. But there’s an angle on the busy season that's not often covered—Isn’t it all just busy season, now?
You may think, “Alright, I get it. We’re busy 24/7/365. Is this just life now?”
The answer? First, realize not all busyness is bad. Then, differentiate between good and bad busy. Finally, work toward the good from where you are currently. A steady workflow of business spread throughout the year is an ideal business busyness model. Non-stop, seemingly uncontrollable craziness is the other side of the spectrum.
One gives you clients who value your services enough to use you throughout the year. The other leaves you feeling scrambled every week of the year.
Unfortunately, these definitions of “busy season” are wildly different. One is taking a seasonal accounting firm and turning it into a well-oiled, recurring revenue machine—an internal decision.
The other is a firm that’s a bit out of control due to external factors. Let’s briefly speak to which external factors currently affect the accounting profession.
Here are a few (of the many) reasons you and your team may feel overworked, even during the so-called “down time.”
Okay, let’s talk about organizing your expanding workload to get everything done without feeling like you’re losing control or unable to take a vacation. If everyone plays their part, things go from roller coaster ups and downs to a manageable, sustainable month-to-month business model.
Nowadays, three pieces fit into your smooth-year puzzle—your clients, your team, and your tech. Each area needs a bit of focus.
Your clients affect your schedule more than you think. Let’s illustrate through a tale of two clients.
Client number one waits until February to even ask if you can handle their taxes, and it’s mid-March (if you’re lucky) when they finally get you all docs and details to do the work. Now, client two understands the value of clean books and having regular communication with a professional, which moves them to opt for your monthly bookkeeping service that includes a quarterly check-in.
The difference? Around the same time client one is about to call, you’re ready to file client two’s taxes (in about 30 minutes flat, no less).
Now, take a minute to consider your current roster of clients. If client one is the worst and client two is the dream—where does your average customer sit? It could be time to fire some of those clients. But that’s only part of the issue.
If all the clients who aren’t great fits for your firm leave, you still need to build a pipeline to attract and close ideal clients. (We’ve covered this in detail in a post about taking a look at the clients from this past busy season and using that data to build a better clientele.)
Much like clients; the team has a massive influence on whether or not your firm seems chaotic throughout the entire year. The team issue is multi-tiered and nuanced, which causes much trouble to firm owners. A tight-knit team that loses one of its members quickly devolves into a chaotic few months (or longer). Keeping things together means constant attention to your current team as well as the pipeline for new staff.
The elements of your team include:
Tech is the ultimate year-smoother because (when used correctly) it directly improves how your firm serves and acquires clients and empowers your team (Technology also helps offset increasing resignations).
But software isn’t without potential hiccups, which include
However, like most things that have a bit of resistance, it’s worth the work. Here’s how to ensure you get your tech roster right:
On the sliding scale of busyness, which is your firm currently experiencing? After you see the situation clearly, you’re prepared to assess your clients, team, and tech. Optimize these areas, and your business is in for a very smooth and busy year ahead.
If you’re ready to consider a tech solution to your firm’s bookkeeping woes, learn a bit more about what Botkeeper has to offer. You can also check out our resource library, filled with helpful ebooks and white papers you can use to tackle myriad challenges every firm faces.
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