| #ffffff;" /> | | | | the following 7 areas: |
| An important criterion for success as the owner | | | | Leadership – example of a system is writing and |
| operator of a CPA practice is to see your practice as | | | | revisiting the vision statement. |
| made up of systems. Like McDonald’s, like any | | | | Marketing: This is the analytical/statistical area where |
| business, an accounting practice has to manage, | | | | you define who your customers are: their income, their |
| efficiently and consistently, a number of tasks. As the | | | | general age, their ethnicity, their geographical locations, |
| owner/founder, it’s your job to make sure | | | | etc. |
| systems are in place to do that, for the sake of you, | | | | Management: These are systems to manage |
| your employees, and your clients. | | | | employees and the facilities. |
| You need systems to be able to deliver your | | | | Money: The key financial reports and key |
| accounting and tax services in a predictable and | | | | performance indicators (KPIs) you need to keep track |
| consistent way. All successful businesses and | | | | of. |
| professional practices that I have studied have a | | | | Lead Generation: CPA marketing and lead generation |
| “how we do it here” manual, also | | | | systems to bring in customers to grow your CPA firm. |
| referred to as a “policy and | | | | Various CPA firm advertising tools that you have to |
| procedures” manual. Standardize your | | | | get a lead. |
| procedures so that everyone knows what they are | | | | Lead Conversion: Systems, e.g. scripts and the |
| and how to do them. These procedures involve | | | | presentation binder you use to convert a lead or |
| production systems for your services, systems to | | | | prospect to a client. |
| deliver those services, systems to track new clients, | | | | Client Fulfillment: This is delivering what you promised. |
| systems to hire and train new employees, and the list | | | | You will have systems for how the work is performed |
| goes on. | | | | so the service can be delivered consistently and |
| Documented systems can make a difference to your | | | | predictably. |
| own time, as a CPA practitioner. Without such | | | | Documenting systems for all the functions of your |
| systems in place, everything depends on you. If | | | | practice can make hiring and training new employees a |
| something happened to you, even for a short period, | | | | smoother and more efficient process. |
| the entire practice would be thrown into chaos. With | | | | Well-documented procedures can also enhance the |
| properly documented systems of management and | | | | client’s overall experience, since it makes it less |
| organization, a key employee (even you!) could leave | | | | likely that the client will ever be surprised by a |
| suddenly, and the practice would not suffer. You could | | | | seemingly random change in how services are |
| replace the employee with minimal disruption. As new | | | | delivered. |
| problems come up, you can adjust the systems you | | | | But remember, systems documentation won’t |
| have in place to accommodate the needed changes. | | | | do any good if your thoroughly documented systems |
| You must think of your CPA practice as a system of | | | | manual sits in a binder on the shelf and never sees the |
| systems. Systems of any business can be broken into | | | | light of day. |