If you didn’t get into this business to become wealthy, then why did you get into it? Accounting practices don’t add up. They don’t add up for the clients (typically under-serviced), the employees (typically underpaid) and the owners (typically overworked and underpaid).
Accounting businesses on the other hand do add up. Clients are served well, employees are looked after properly and the owners have a quality of life rarely seen in an accounting practice. The traditional accounting ‘practice’ will provide a reasonable standard of living – but rarely will it make you wealthy.
I cut my teeth as an accounting in an excellent accounting business in the north west of England. Having spent six years as an auditor, I was part of a small team that established and implemented a business improvement service in the firm. I developed a passion for working with small businesses to help them achieve great things.
In 1996 I fell into a life changing opportunity to work with accounting firms to help them do similar things to what I had done in practice. What was intended to be a three month secondment turned into a genuine passion to help accountants become proactive – and hence help the businesses that they serve in their local communities.