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High-margin CPA Firm: The Path is Easier than You Think

Today we’re talking about your business. Is it a lot of work? Do you spend it too many hours or more hours than you want in front of a screen toiling away? 

At the end of a long work week, do you ever wonder if there was an easier way? Many CPAs work really hard. And when I say hard, I mean, lots of hours, lots of clients, endless fires. And it can seem like hard is the path, and it can be the only path that you see.

But what I want you to know is that there are easier paths available to you. And I will tell you what keys you need to unlock these easier paths. 

But first, I want you to listen to my story about inner tubes and me and some friends, a few years back.

So how is this misadventure relevant to you? 

You got started as a CPA. And you knew it might not be easy-peasy. You may have thought that there was some risk, but little did you know that you would end up in the position of having 250 or 1400 returns to process in a 10-week timeframe.

And there were probably moments that you felt desperate. And when you have that desperate or piled on or overwhelmed or sucked under feeling, it can be difficult to see the path out.

What I want you to know is that if you’re feeling swamped in your accounting practice, that you are only in knee-deep water, because you have a skill set that no one else has.

As a CPA, you are able to understand a business’s finances in ways that other professionals simply cannot. As a CPA, you are uniquely positioned to provide immeasurable value to your clients. You are standing in two feet of water. It’s just a matter of harnessing your talent and your ability to provide insights and get it pointed in the right direction.

So remember at the top of this episode, when I said, I would tell you how to find an easier path? Here are five pieces that you need to get on the easier path: 

  1. Learn to value price. 
  2. Continue to narrow your niche or specialize. 
  3. Develop a framework for consistent high-quality results. 
  4. Make yourself visible. 
  5. Be open to the idea that it can be easy. And that it’s all right for it to be easy. 

If you believe that it’s supposed to be hard or that making money isn’t supposed to be easy, your subconscious will seek out ways to make you right. And you will continue to make it hard. 

If you believe that it can and that it should be easy, your subconscious will look for the easy path. And when you’re looking for the easy path, the answer will appear. 

Episodes mentioned: 

081 Time To Rethink Your Pricing Strategy? With Ron Baker, Founder Of Verasage Institute 
091 Is Your Accounting Niche Niche-y Enough? 
054 How Narrowing Your Niche Can Help You Grow Faster
098 A Framework is Essential to CPAs Working Less and Earning More

Upcoming training: 

Stop being all things to all people: How to narrow your niche the easy way
Thursday, September 24, 12pm ET

Break free of this arbitrary metric: there is a better way
Thursday, October 22, 12pm ET

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