CPA firm practice management can mean the difference between success and failure. Many accountants experience overwhelm and stress when they start their own firm. If not effectively overcome, this can soon turn into failure.
CPA Ran Into Problems Upon Starting Her Accounting Firm
Take Kim for example. As a CPA, Kim had no idea what she was getting into when she purchased her accounting firm. She quickly realized that her staff accounting experience did not translate into her new role as head accounting manager at her own firm. She immediately ran into issues with work not being finished, files being lost and forgotten, and employees who lacked the necessary motivation to produce creative and quality work in a timely fashion.
Because of her staff’s lack of initiative and responsibility, she was shortly describing herself as “personally carrying the firm on my own shoulders.” This lack of structure in Kim’s firm continued to unravel until she reached out to Sterling Management for an introductory consultation.
Sterling’s Training and Consultation Helped Turn Around Kim’s Firm
Kim was so impressed by the Sterling program, she brought in Sterling consultants to train all of her employees. Sterling worked with Kim to create job descriptions and organize a productivity management system. They helped her to conduct personnel tests to monitor each employee’s individual profitability and progression.
One year after contacting Sterling Management for help, Kim had increased her profitability by 600%. She realized the importance of learning how to motivate her employees in order to grow her business. Customized employee job descriptions which align with each employee’s personality and strengths is a key factor in increasing employee motivation. Now she is able to get all of her work done on time and grow her firm.
Now Opening A Second Firm
Kim has opened a second office and is now successfully runs two locations “A short while ago, the thought of opening a second location would have been inconceivable… I am happier, less stressed and have more time for family and friends,” says Kim.
It is possible to get all your work done on time while managing an accounting firm. With Sterling’s help, it’s easier and less stressful than you would think! Through our CPA Firm Practice Management program, we have helped hundreds of firms to results just like Kim’s.