Before we get going: A sincere request. I’d like to grow this newsletter to 1,000.
I am >this close<
So here’s my ask: Will you forward this issue to one other colleague who shares our interest in practice development shenanigans (I do try and keep it fun) … and suggest that they subscribe through (copy and paste) this link. When you do, hit ‘Reply’ to this newsletter and let me know how great your practice is doing! I’ll write back. I always do.
In case you missed my last post: Every diner has them. Why don’t you? I know some practitioners are having a good year … if not an outright banner year. Others, not so much. And before we can say goodbye to 2020, we have 3 months to go. Do you have a plan for your quarter? Likely, you don’t. I have something that can help, and I call it The Planner PlacematTM.
On to this week: It’s an “interesting” time to be a BVFLS professional! 2020 has offered up many lessons about the demand for our services … how we sell and prospects buy our services … and certainly how we deliver our services. So based on lessons you learned from 2020, how will you position yourself for success in 2021? But before we can consider tactics, we first need to look at the overall strategy for our practice. And I have a framework that can help with that.
My coaching tagline is: Turn the practice you have into the practice you wantTM. And frankly, I tell my coaching clients that I don’t give a rat’s ass about what their “want” is as long as it is what they want and that they are brave enough to go after it.
And your version of success is going to be different from someone else’s … that’s a given. One of my clients said his version of success is not having to work in October-November … I think that’s pretty cool!
But what does the vehicle (your practice) need to look like to create the success that you want? Is it built to achieve the success you want? Does it need to change, say in 2021, given your “facts and circumstances” (we love to say that, right?) … whatever they are.
Enter The Practice-You-Want Mixing DeskTM. As the caption says, think of your options like an equalizer and adjust the sliders to the practice mix that works for you.
I preloaded this example with eight options:
1 – Business valuation vs Litigation support
2 – Generalist vs Specialist
3 – Compliance work vs Creative work
4 – Solo practitioner vs Firm
5 – Local presence vs National presence
6 – Work from home vs Work from office
7 – Services performed in-house vs Outsourcing
8 – Services delivered 1:1 vs 1:many
Two observations: first, you can label your sliders whatever the hell you want … as long as they get you to the practice you want. Second, your sliders are not all or nothing … they slide … to the level of equilibrium that gets you the kind of success you want.
Print this framework out or draw your own. Take the time to work ON your practice (we love to say that, too, right?). But will you do it? Can you do it this quarter to position yourself for next year?
What adjustments in/to your practice will you make for 2021?
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Next INSIDER webinar
Join me on Friday, November 6 at 1pm ET on Practice Development INSIDER for my interview with Greg Caruso and Zach Sharkey. These “everyday, ordinary” practitioners will talk about the nuts and bolts and the agony and ecstasy of writing the books they wrote.
The root word of Authority is Author … if you are thinking of writing a book, this interview is for you!
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Where I will be Zooming in
Oct 22: NACVA Massachusetts State Chapter
Oct 29: California Society of CPAs FVS Group
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Thanks for reading this far.
And for your kindness and generosity.
I’ll be back on Nov 4!
PS – Whenever you are ready, here are 4 ways I can help you build/grow your BVFLS practice:
1. Join Practice Development ROUNDTABLE
It’s a Facebook community for BVFLS professionals who are collaborating on how to turn the practices they have into the practices they want.
2. Download this Find Your Niche infographic
The riches are in the niches, as they say. But what’s missing is a process that can help you identify your niche. This infographic is the missing process.
3. Take a free Practice Self-Assessment
I have 10 quick questions, and your answers will help you get a sense of how well your practice is working for you.