Salaam folks. It really was a life or death week for a WHITE, AMERICAN and most importantly NOT a MUSLIM Drumstick who was given the Thanksgiving Presidential Pardon. It was given by a billionaire (debatable) urantang who is shockingly residing in the White House.
Moving on to matters My Week. As we are approaching the end of 2017 and after just over 10 years since I went my own, I am beginning to take a step back and take a helicopter view of FT Practice Ltd. There is a time and place for everything. For me, that time and place is now. Please allow for a longer My Week to explain.
Before 31 December 2017
Over the week, I thought about how I went 2017 to end. We have 37 days to the end of 2017. Taking 7 days for the Christmas break, we are left with 30 days.
In addition to taking further measures to reduce January stress, from my helicopter perspective I would like to end the exciting 2017 on a high. The list below outlines the work I would like to complete before I say goodbye to 2017 and say a warm Hello to 2018.
- Clients List – I have PITA graded with fee level, each client on a spreadsheet. Next week I will make decisions on clients to:
- Sack – Thanks but no thanks
- Fees – Increase fee based on workload and headaches. If they go, they go. Some clients I took on in my early days, are just not viable.
- A1 Clients -Think of ways I could value them by providing a better service that they will value. Definition of A1 client – Lucrative and not a headache to work with.
- Systems – Our new practice management software (Accountancy Manager) will bring efficiencies. It is now 95% set up. We started to use it as our new engine over the week. I need to set up canned responses for deadlines reminders and SMS chasing. Also to review whether to use AM for engagement letters and any other ways we can use AM that would more efficient.Further, have more efficient file management systems. It is good now. There are areas where it can be improved. It will bring time savings and improve my bottom line.
- Road Ahead – I finally have a dashboard view of the practice. I am no longer in expansion at any cost and devote all my energy to expand mode. This mode was needed when I started with zero clients and with zero practice experience.Before the year is out I want to think about how I would like the practice road ahead to be. I have the base clients that will meet my income needs. I now have a little luxury to be selective about who to add on to our books.
- Grow as Person – You are never too old to grow and learn. Our business is selling our skills. Those skills need to be up to date to be able to operate and compete.I did not think I need to remind you, tax skills and knowledge are vital for our line of business. It particularly applies to small practice without a tax department. I intend to increase my hours on my taxation studies. It will be and is a direct benefit to my business.
- Marketing – I took my foot off the marketing accelerator during the most of 2017. Also, my local Google ranking has gone down the Google page. I failed to do what was needed to retain our local Google page position.I was incredibly busy with the purchasing process of FT store and then design and renovation of the store.Once I have decided on the road ahead for FT Practice Ltd, I will draft a marketing plan with todos and when.
For the past few weeks, I have been walking to the office and back home. I find it less stressful since I am not putting myself at risk of some morons. The commute is longer but it is relaxing.
As you know I love cycling. In London, I am not sure whether I will get back on the saddle. Maybe it is time to change my AW avatar to one that reflects my current status.