Whenever you are in recovery mode, in addition to enjoying some downtime, you naturally reflect on how things went and how much (or little) you enjoyed it. Hopefully your assessment is positive and that you would like to continue on the same trajectory for next year. However, that may not be the case. Managers and partners in most firms are reassessing their practices. Given all the stressors with the pandemic, staffing issues, technology disruption and client demands, they are concluding that something has to give. One of the serious considerations happens to be the client list.

You are different

Over the years, you have served many clients. Some of them have been growth-producing for you and your firm. But not all. Included in your accumulated client list are a collection of family members, neighbors, friends and friends of the family.  You served them well and they liked you, so you amassed more clients just like them through referrals and acquisitions. However, things have changed enough that you cannot serve them the way you used to and they actually hinder you from growing your practice and your satisfaction in serving.

They are different

Too many of your clients have needs that you are unable to provide well. Whether your systems are too robust, your processes are too involved or the level of expertise is beyond what they need, you are unable serve them efficiently and effectively. This creates constant stress on you and your staff, year on year. And it only gets worse every following year. It’s no wonder your long hours are less appealing to you and even less so for  your staff.

If you didn’t catch Jenn Wilson’s article published in the Journal of Accountancy recently, it’s an excellent read that explains why this exercise of culling your client list is so important. She even shares some ideas on how to do it effectively.

Work Differently

So rather than trying to invigorate you and your staff to serve a population of clients that aren’t suited for you, spend the time examining the clients you want to serve—you enjoy serving—and then you and your staff will rediscover the inherent energy and enthusiasm of the profession. We all grow and evolve. That’s why you aren’t who you were.