One of the things that has baffled many of us over the years, is the ‘x’ factor when it comes to success in business.
I know you will and certainly we have had the chance to get to know a vast number of business owners. Some good, some bad, some succeeded, some didn’t.
There didn’t seem to be a common thing that identified someone who was going to be successful and someone who wasn’t? Some made loads of money more by accident than by design and some lost heaps with the best business plans and teams around them.
So my contention today is that the ones that ‘made it’ had vision. They knew where they wanted to go – well most of the time – and would not be side tracked by either internal or external events! It is easy to stop seeing the big picture because of the demands of the everyday multitude of things that we have to attend to.
Vision because no matter what was going on the successful clients seemed to still have the vision of where they wanted to go.
One of our founding partners, Don Wood along with his wife, had a vision of a large and growing practice. He says they were constantly aware of the quality and quantity of new clients coming on board. Now they would be the first to admit that this was sometimes to the detriment of other areas of their business! For instance, “Our staff ratio to fees should have taken a higher profile” Don told us.
The other area that he was constantly aware of was ‘retirement’!!
So it should be with you.
When we started to talk in depth with other practitioners we were constantly amazed by the lack of planning some practitioners were putting into the day that they would retired.
And a big reason for this was that they could afford to retire!!
So take a moment today and think on this, if you have not already done so!!
Just when are you going to put down your pen and walk out the door for good????
If you're interested in the Buy/Sell/Merge of Accounting Practices please contact us today
P: 600 2092
M: 022 043 2880