10 New Year Resolutions for Ambitious Accountants

Jan 3, 2023 | Accountants, Business Strategy, Strategy

As 2023 dawns here are 10 New Year resolutions that I would encourage you  to consider. Where possible you will also find links to earlier posts I have previously written about the topic.

1. Reducing the January rush

Although I want to blame my clients for ignoring my persistent requests I have had enough and will start planning now to avoid any problems ahead of next year’s deadline. (See: How was January for you this year?)

2. Billing

I will release cash by reducing my lock-up to no more than 30 days by motivating more clients to agree to monthly billing, being more prompt with billing generally and taking action sooner rather than later with anyone who breaches my standard credit terms. (See: 10 tips to help you reduce debtor days and lock up)

3. Additional services

I will be more open-minded and introduce one new service (or a new topic on which I advise my clients) this year – over and above the services I have always provided.

My intention will be to help my clients with their businesses and, at the same time, to become more profitable myself. (See: How to find out what your ideal clients REALLY want)

4. LinkedIn profile

I will check my Linkedin profile and ensure it contains a decent photo and an up-to-date summary of my current experience and abilities. I will ensure that every section is written so as to have a positive impact on the type of people I specifically want to positively influence.  This could make all the difference whenever someone is checking me out online: e.g. a prospective client, a prospective referrer or advocate, an ex-colleague or ex-client. (See: A dozen key tips for your Linkedin profile).

5. Social Media

I will adopt a more strategic approach to social media (and Linkedin) and stop kidding myself that I’m doing anything much for my business when I spend time online interacting with friends and other people who are unlikely to become clients.

So I will also stop posting content in an effort to raise my profile with random people generally unless I really enjoy doing so and interacting with those who react and comment.  (See: 6 ways you can stop making the same mistakes on social media as everyone else

6. Business alliance

I will establish a business alliance that will help my practice and my clients. Possible alliances could relate to areas of specialist expertise or complementary services that some of my clients might need. We would learn how we can help each other’s clients and then agree to refer clients to each other. (See Do you ensure your clients get the best advice or just your advice?)

7. Planning

I will create a one-page marketing and business plan setting out what I want to achieve in the practice over the next year and what I will do to make this happen. (See: 7 common marketing challenges and solutions for accountants)

8. Talking with clients

I will make appointments to speak with my best clients within the next three months, even if just to see how things are going for them. I can reasonably expect that many of these calls and meetings will lead to those clients asking me to provide additional (billable) advice and services.  (See What do you say when you ‘Keep in touch’?)

9. Dumping duff clients

I will stop complaining about my three worst clients and, within the next 3 months, I will encourage them to find new accountants. I will make a concerted effort to replace them with three new clients as I deserve to work only with people who appreciate what I do for them.  (See Ditch the duff clients)

10. Peer support

I will join an online or local peer support mentoring group for ambitious accountants where I can learn from my peers and enhance my business and personal (non-technical skills). The group will help motivate me to keep all of my New Year resolutions. I also know I don’t have a monopoly on good ideas and I want to make 2023 the year that I learn to become more effective. (See:Sole Practice Club)

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