What are the reasons to start your own Accounting Practice?
For some people, it might be to achieve financial freedom, earn more money, work your own hours and have more spare time. For others, it might be setting your own deadline, helping others, pursuing your passion and do things that you do best and feel happy doing it.
Yet, in our profession, everyone seems to be so busy, anxiously moving from one thing to another, task to task, job to job, meeting to meeting, year after year, over and over again, without pausing to catch our breath and now feeling exhausted and worn out.
We are so busy that “being busy” becomes the norm for our profession. Being a “Busy Accountant”.
Have you ever thought that “being busy” might be a problem?
It becomes a problem if we are so busy that we forget our reasons for starting a business, don’t have time to exercise, doing work that matters for yourself and your clients or even miss out on our children’s important life events.
There is a story of a CEO who quit a 100 million dollar job to spend more time with his daughter.
Mohamed El-Erian, the former CEO of the global investment firm Pacific Investment Management Company (PIMCO), decided to step down after his daughter listed out the 22 life events that he had missed including soccer games, parent teacher meetings and her first day at school because he was “so busy” at work.
El-Erian explained that the moment was a “wake-up call”, he said “I felt awful and got defensive: I had a good excuse for each missed event! Travel, important meetings, an urgent phone call, sudden to-dos… But it dawned on me that I was missing an infinitely more important point.”
If you are still filling your day with accounting work, data entry and brain-dead repetitive work then it might be the case that you are also missing “an infinitely more important point” that you should change, refocus on what matters and only work on what you and your clients value most.
Ask yourself, what can you do to solve your problem being a “Busy Accountant”?
Written By Kevin Dinh