Issue #15 - Running a firm: "very demure" but also very challenging
How to set up systems + Kelly Rohr's inspiring journey + 50 hilarious tax memes
Welcome to "Get Work Done," where we discuss the complexities of running accounting and bookkeeping firms efficiently. This isn't your average newsletter—we're all about down-to-earth tips and insights that cut through the complexities, helping you streamline processes, embrace practical tech solutions, and boost your team's productivity.
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Small change, big difference
Bearing the title of “CEO” of an accounting or bookkeeping firm is very attractive. Very demure, even. 😉
However, outsiders don’t see all the work it entails—supporting clients and staff, setting up workflows, maintaining systems, pricing services correctly, and a million other things.
Tasks can fall by the wayside, and things can get overwhelming really fast.
If there is one small change you can make that will have the biggest impact on how you manage your firm, it is setting up systems and getting organized.
If you’re unsure which system to start with, take a quick inventory and figure out which of your processes is causing you the most stress and, more importantly, what’s impacting your customer’s experience the most.
If you need a boost to set up your systems, join Get Organized! Challenge with Justine Lackey. She’s a pioneer in the virtual firm space, ran a premier bookkeeping firm for 15 years, and successfully sold and exited her company in 2023.
During the challenge, you will learn Client Onboarding Secrets, the 5-star Bookkeeping Formula, and the Month-End Close Workflow.
Sign up here - class begins on September 16th.
Firm spotl💡ght
Kelly Rohrs, CPA, is a tax, business strategy, and financial management firm.
The Founder, Kelly Rohrs, CPA, has over a decade of experience in public accounting and was named Top 40 Under 40 CPAs by CPA Practice Advisor in 2024. In 2023, she co-founded the podcast From Zero to Millions: Accounting Edition with Bilal Mehanna, CPA. The podcast has achieved thousands of downloads and features leading
voices in the accounting world.
In this podcast episode, Kelly shares her experience building her firm from scratch—from a one-woman shop to a team of four—while staying true to her values and passion.
Take a listen below:
Excerpts below:
Kelly:
I had my company set up about two years before taking the leap. I knew I needed the foundation in place, whether I would be a partner in my old firm or start my own. I set up my company and my website and planted seeds over time. When I finally went out alone, I reached out to my network, letting them know I was starting my practice and asking for business. Having those genuine relationships made it easier for people to trust me and refer business.
Initially, because of my previous experience, I thought I would focus on the dental space, but I started getting a lot of attorney clients through referrals. Now, over half of my clients are attorneys, but I also work with other professional services like financial advisors and medical professionals. It wasn’t necessarily a choice; it happened organically through my connections.
H🔥t topics
How to systemize your solo accounting firm and get work done
As a solo firm owner, it’s easy to get overwhelmed by the demands of running a business on your own. However, with the right systems in place, it’s possible to transform a chaotic operation into a well-oiled machine.
Systemization offers a solution by streamlining processes, reducing manual work, and freeing up time to focus on higher-value tasks. Some benefits include:
Increased Efficiency
Better Time Management
Consistency
Scalability
Productivity & Prosperity
Paul Krugman famously stated, “Productivity isn’t everything... but in the long run, it is almost everything.” Productivity is crucial for long-term prosperity but is complex—difficult to measure, explain, and improve.
Sluggish growth in total factor productivity, which captures innovation and technology, has slowed economic growth for decades. Experts highlight the role of innovation, competition, and better resource allocation in reversing this trend.
September’s issue of F&D, the International Monetary Fund's newsletter, brings together leading researchers to explain the withering of productivity gains, how to counter these trends, and how to spark economic dynamism.
Did you hear?
Financial Cents has launched a $9/month solo plan with all the features you need to manage your workload, clients, and documents. Check it out.
Swipe this workflow template
Get this Clean-up Project Plan & Timeline Guide by Justine Lackey, so you have a proven framework to help you complete your clean-up projects on time, every time.
Editorial correction: There was a typo in the template creator’s name in the initial post. It has now been corrected. The creator is Justine Lackey, not Justin Lackey.
Meme
FOMO events
October 22 & 23
WorkflowCon 2024 is back in October! 🎉
WorkflowCon is the only event focused on helping accounting firms get their workflow right. It's 100% virtual and free to attend. Last year, 800+ accounting, bookkeeping, and tax professionals joined us.
This year's theme is FREEDOM TO SCALE. Some of our speakers include Brandon Hall, Logan Graf, Kelly Rohrs, Dawn Brolin, Erica Goode, Keila-Hill Trawick, Kellie Parks, Zane Stevens, Chad Davis, and Nancy McClelland.
September 10 - 13
CPB Canada Ignite 2024 Conference
Curated by industry experts, IGNITE 2024's content is designed to be relevant and practical, aiming to enhance your capacity and skills in the field.
September 22 - 26
[Ai]ppy Hour Camp 2024
An Intentional Accounting Educator Retreat to propel the accounting industry forward. This is a life-changing event you don’t want to miss!
Noteworthy
50 Accounting Abbreviations and Acronyms You Should Know
Accounting, AKA the language of business, like any other industry, has its own unique set of specialized terms, abbreviations, and acronyms familiar to insiders. If you’re new to the field, accounting jargon might seem like an alien language and confuse or intimidate you. But it’s important you learn and understand them to communicate effectively with accounting and finance professionals.
In this piece, we share 50 of the most common accounting abbreviations you should know.
Sustainability on the Rise: CPAs Positioned for Breakthrough Growth - Bryan Strickland
While sustainability regulations may seem to primarily impact large CPA firms, accounting professionals of all sizes should take note of emerging opportunities. According to Andries Verschelden, CEO of Good.Lab, market forces driving compliance are rapidly accelerating. The shift from voluntary to mandatory sustainability reporting is expected by 2025, presenting CPAs with new prospects. To capitalize on this trend, CPAs will need to upskill in sustainability reporting and attestation services, as highlighted by Ami Beers, senior director at AICPA & CIMA, during the recent ESG Symposium Virtual Update.
10 Performance Goals And Examples - Tomas Laurinavicius
Performance goals are critical for improving business operations, from boosting sales to enhancing customer satisfaction. These goals help businesses evaluate their current standing and identify steps to achieve desired outcomes. To provide insight, here are 10 performance goal examples that illustrate their application across various business functions, helping accountants and business leaders effectively measure progress and drive growth.
These examples serve as a guide to understanding how performance goals can bridge the gap between current performance and future aspirations
Until next time,
