{"id":6545,"date":"2010-07-12t13:15:27","date_gmt":"2010-07-12t17:15:27","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=6545"},"modified":"2015-10-23t03:47:03","modified_gmt":"2015-10-23t07:47:03","slug":"eight-things-solo-practitioners-do-better","status":"publish","type":"post","link":"\/\/www.g005e.com\/2010\/07\/12\/eight-things-solo-practitioners-do-better\/","title":{"rendered":"eight ways the smallest accounting firms compete and win"},"content":{"rendered":"

what big firms can learn from sole practitioners and small firms.<\/strong><\/p>\n

“the best independent practitioners have a singular focus on helping their clients achieve their goals,” according to andrew sobel, author of the exemplary “all for one: ten strategies for building trusted client relationships<\/a>.” “they deliver value at every stage of their work, and they do so as quickly as possible and with ruthless efficiency,” he says.<\/p>\n

the most successful independent professionals:<\/strong><\/p>\n

\"andrew<\/strong><\/strong>
sobel<\/figcaption><\/figure>\n

<\/strong><\/p>\n

    \n
  1. create personal brands by building individual market renown<\/strong>. they create notoriety for themselves through publishing, speaking, and networking, and by focusing on a core specialty for which they become well known. all too often, professionals in large firms spend years sheltered under their firm’s brand.<\/li>\n
  2. regularly develop and disseminate intellectual capital.<\/strong> often, there are just a handful of partners in large professional firms who create all of the intellectual capital, and everyone else feeds off of it.<\/li>\n
  3. focus on conversations, not on powerpoint. <\/strong>while it is always a good idea to outline your thoughts in writing, creating so many powerpoint presentations takes a huge amount of time and energy. the best independents lower their threshold for a client meeting. they talk often to their clients, and they have learned how to hold an engaging conversation.<\/li>\n
  4. try to achieve success, not perfection.<\/strong> when you lack resources, you have to focus on delivering a solution that is good enough and works — not on the one that is most comprehensive and elegant.<\/li>\n
  5. have learned to eliminate non-value-added activities.<\/strong> for a solo practitioner, every single activity has to contribute directly to the project’s goals and deliver value to the client — otherwise you work yourself to death and\/or end up seriously diluting the time and effort.<\/li>\n
  6. take responsibility for their personal development. <\/strong>without mandatory training seminars or meetings, independents must really think about the skills they want to develop.<\/li>\n
  7. organize around clients.<\/strong> large firms must reconcile geography, practice groups, industry sectors, and functional expertise within the same organization structure. independents are always organized around one simple and essential dimension: the client.<\/li>\n
  8. truly act like it’s their money. <\/strong>for independents, every cent they spend on expenses is a cent that doesn’t go into their pockets (after taxes, of course). it’s a good mindset and a good discipline — often neglected in large organizations.<\/li>\n<\/ol>\n