3 Important Things To Consider When Creating Your Plan for 2022

By Salim Omar, brought to you by the CPA Marketing Genius Podcast.

Salim Omar is an accomplished CPA, entrepreneur, thought leader and published author who dedicates his time to helping CPAs grow their firms. He has extensive knowledge and experience on the ups and downs that firm owners may experience.

Plan Your Business For Success in The Months After Tax Season is Over

Creating A Firm That Serves You

For Omar, the goal for all entrepreneurs is to create a practice that allows you to have a 'turnkey lifestyle.' What is a turnkey business practice? A turnkey business will allow you to create a lifestyle that serves you rather than you serving the business. Not all CPA firm owners enjoy their practice. Many experience burnout, stress and a ride on a non-stop hamster wheel of work.

Three Important Things CPAs Need to Know When Creating Their Plan.

Everyone wants to live a life that is enjoyable, balanced and meaningful.

To achieve this CPA firm owners should consider the 3 following tips:

   1. Create a client attraction system

Aim to attract high paying clients. There is a big difference between a CPA practice that is filled with low value clients versus one that has a constant influx of high value clients. There are several steps that a CPA firm owner can take to attract high paying clients, and these steps are not difficult to set in motion. Some of the things you can do include articulating your business message, showing your clients what differentiates you from other CPA firms, and proving your authority on websites.

   2. A Championship Team

Choose a team that is as excited about your practice as you are. A loyal and dedicated team is a valuable component of any successful business. A championship team will have the following qualities—

• A team that wants your business to go succeed.
• Members who want to help you take your CPA practice to the next level.
• A team that can handle the day-to-day running of the business without your oversight. 

To develop a champion team that you can rely on, you need to create an environment in which your team members can thrive.

   3. Streamline your operations

Have documented systems in place. Develop your tech stack automation so that it can operate independently and is not dependent on you. Systems provide transparency and accountability. Another advantage of documented processes is that information can be easily shared with your team, clients and other stakeholders. 

Documented processes allow you to maximize the value of your business without you having to put in extra work. 

When you are ready to exit your practice, these documented processes will allow you to get your money's worth out of the brand that you have created.

Words of Wisdom for CPA Firm Owners from Salim Omar

Many people think they will retire and then they will enjoy their life. Omar has personally lost several people due to the pandemic. "The message for us is life is short, it is unpredictable. You can not assume that you will reach retirement." He advises CPA firm owners to enjoy the journey of life, starting now.

"You have to enjoy the journey. The journey IS the destination."

Salim Omar recorded this episode of the CPA Marketing Genius Podcast from the beautiful Masi forest in the Cameron Highlands, Malaysia, while hiking with his family—proving to us that CPA firm owners can have it all.

Salim Omar is the owner of CPA Marketing Genius, providing website and digital marketing services as well as coaching that is geared towards helping CPA firm owners grow their practice to 7 figures and beyond. Contact us today!