A Goal Without A Plan Is Just A Wish – How To Make Your Outsourced Accounting Practice A Reality

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This quote from Antoine de Saint-Exupery sounds simple enough. We all inherently know it as truth, and any time we advise clients, we always ask what their goal is and then develop a roadmap to help them achieve it. We discuss leadership, define objectives, key success factors, areas of focus, training and more. Periodically, we meet with our clients to ensure the path is being followed, and are frustrated when they veer off course.

But, what about your firm? Are you the cobbler whose children have no shoes? Did you start an outsourced accounting practice without answering key questions like:

  • Who is going to lead this practice?
  • What are our key niche areas?
  • Do we have a staffing plan?
  • Do we know what investment is needed?
  • Do we know what the ROI on that investment is?
  • What technology tools are best for our target client base?
  • What are our expectations for success?
  • What are our key performance indicators?

Unfortunately, I have come across many firms who did not ask these questions. The practice started because A) a client asked for it and why not? B) a tax partner had some capacity during the down times or C) they heard it was all the rage. What do all these firms have in common? They didn’t have a roadmap, so they got lost on the journey.

There is an alternative! Seven Bridges has created the Seven Steps to a Successful Client Transformation Advisory Practice.

This is the first in a series of blog posts where I will explore these 7 keys in detail, giving you my perspective on what they mean, why they are important and how to achieve success. I hope you will find them helpful and they can provide a framework for your internal conversations.

About Seven Bridges Group

Seven Bridges Group has created the Seven Bridges Alliance to provide a community for firms who are interested in building profitable technology-enabled client transformation advisory practices. Our mission is to help firms make the transition from just an outsourced accounting provider to a true business advisory firm that is helping clients in a strategic, high impact way – and that helps them grow while generating profitable revenue.

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