If you want to build a successful CPA practice, you need to build one that doesn’t depend on you doing all the work.
That means you need to build a quality team of people you can trust to deliver exceptional services to your clients and who will help you grow your practice.
However, there are six common missteps I see CPAs making again and again. Do yourself and your practice a huge favor and avoid these:
- Trying to do all the work. You want to start building a high-performing team that you can trust to deliver high-quality services. That will allow you to spend less time producing the work and more time building the practice.
- Recruiting too fast. Too often, we recruit employees to fill vacancies without really taking the necessary time to found out if they’re the right people. The key point to consider is whether or not a candidate has the right attitude.
- Failing to hold team meetings. Many practices fail to take time for team meetings, or they organize them inconsistently and poorly. A well-planned meeting is an important part of the process of developing people and building a team.
- Firing too slowly. It’s not easy to let someone go if they’re not fitting into their role. But hanging on too long to the wrong employee affects the whole practice and can cause problems with clients.
- Failing to reward excellent performance. It’s easy to get into the habit of expecting people to do their jobs and neglecting to encourage them to do even better. Take time to recognize and reward exceptional performance.
- Thinking of employees as costs. While employing a staff is a major cost for your practice, it’s important to think about how the staff member you employ may contribute to the growth of your firm.
There you have it, in a very powerful nutshell. Be smart with your team and your team will do their best for you, helping your practice grow in record time.
Learn even more about growing and strengthening your practice! Check out my book The Ultimate CPA Practice in the New Economy: 10 Secrets to Attract More Clients, Boost Profits and Live Your Ideal Lifestyle.