Practice management is one of the hardest parts of running a small business. All of the infrastructural elements that large corporations have to manage, such as data security, finance, customer service, and legal documentation, are still on your to-do list. But managing all of those elements without the large employment force that big businesses can bring to the table is a challenge that seems unending. If you started an accounting practice because you wanted to focus on certain types of accounting services, you can still do precisely that. Here’s how:
Make a list of what requires licensed expertise and what doesn’t.
Managing the financial decisions and records for your clients is something you might want to handle on your own or by utilizing the talents of your team. But setting up your website doesn’t require a CPA license or a specialized certification. Neither does reaching out to new clients, answering their questions, or keeping detailed archives of your company’s documents.
Make a list of everything in your business that needs to be handled by someone with a license or certification and then a separate list of everything else. This will help you decide if it is time to expand, look for third-party services, or both. Pay special attention to the tasks you do each week to determine if you are doing tasks that can be delegated to someone else.
Get an assistant.
Even if your business isn’t quite ready to expand to a group of employees and different departments, there might be more work than you can currently handle. There also might be a lot of work that isn’t actually worth your time. In these circumstances, find a virtual assistant, admin assistant, or a contractor who can help manage the workload. They can handle the administrative tasks that are weighing down your day while letting you spend your time on the substantive work, that only you can do.
Use third-party service providers.
Just like your business might focus specifically on tax planning, a particular type of accounting service, or a select niche of clients, there are countless companies online or in your area that provide specific services. There are cybersecurity and IT support companies, legal services, and even invoicing services that make everything as automated as possible. You can use services with people or programs. But giving the work you’re not an expert at to companies that have that expertise saves you time and money.
For more ideas to automate your auxiliary work tasks and make your business more efficient, go to www.getoffthewheel.com.
Get off the Wheel Systems and Procedures for Greater Profits & Reduced Stress
By: Diane Gardner
This Book is for you IF…
You are an accountant, bookkeeper, or tax preparer with employees and one of the following describes you: