26 Lessons These Practice Owners Learnt When Growing Their Business
Learning from other people can be really powerful... Especially when it comes to learning from people that are in the same boat as you and are trying to ac
Learning from other people can be really powerful...
Especially when it comes to learning from people that are in the same boat as you and are trying to achieve similar things.
So we asked 26 different practice owners what some are some of the biggest lessons they've learnt over the years through starting, running and growing their own accounting & bookkeeping firms.
Here's what they said...
A quality team is essential - especially for when you want to start delegating
Make sure that your business can run without you
Recruit based on fit, not ability
Learn how to evolve and continuously improve over time
Don't get caught up as an employee - you can't do everything
Love what you do
Use software in your own business first before going to market with it
Perfection doesn't exist - if you have an idea, run with it
Be prepared to go through periods of investment and sacrifice
Don't stress if prospects say no
Always look for ways of doing things better
You can't be both the visionary and the integrator - split the roles
Don't underestimate people - stand your ground
Get support when you need it. There's lots out there
Marketing is vital
People management is the hardest thing in any business
Look after yourself and don't let work take over
Mental offloading - find a way of parking things to revisit them later
Set and manage your clients expectations very carefully
Don't follow the crowd - have your own ideas
You don't need every piece of software
Different people value things differently - so price accordingly
Make it easy for your clients to pay you!
Set clear targets and revisit them regularly
Don't discount just because other people do
Don't be afraid to change things if they're not working
And there you have it... 26 different lessons learnt by 26 different practice owners over the years from starting, running and growing their own accounting firms.
Want to find out more about the lessons they've learnt and the things they've done to overcome them?
A Portuguese expat in London, Celso founded Pixie after learning first-hand about the challenges faced by small accountancy and bookkeeping practices. A product-focused leader with over 20 years experience in the software industry, at Pixie you'll frequently find him listening to customers and distilling their feedback into the product and go-to-market strategy.
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Celso Pinto
Feb 10, 2021
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