Being ‘purpose-driven’ isn’t a fluffy goal. Practices that set a strong direction are preparing to succeed, explains Advancetrack MD Vipul Sheth.
What is your practice’s purpose? You might say ‘it’s to create tax returns and accounts’. You could go bigger, bolder and broader: ‘To be the best accountancy firm in the world.’
I went to Australia a couple of weeks ago with a couple of tasks to undertake. Firstly, to help develop our standing; secondly, to attend the Clarity/Smithink/Advancetrack-sponsored ‘Accountants Re:Bootcamp’.
The bootcamp saw some 50 accountants gathered, across three days, to really question their approach to what their firm does.
It made the practice leaders delve into the fundamentals of what the practice is there for, and why – while challenging them to understand and prioritise what they need to change in terms of maintaining or improving its success.
And, to go through this process, the first thing that is broached is: ‘what’s your firm’s purpose?’
From my experience in both working in practice, and alongside side them as Advancetrack’s clients, I think many accountants struggle to nail down what their purpose is. A large proportion of them complete higher education and choose accountancy as a ‘good payer and solid career’. A vocation…? It is often not.
Some of the most successful accountants I (and Advancetrack) have worked with have an entrepreneurial background – in terms of parents and close family members. This drive and mission-focused mindset is supported by the financial and technical expertise they learn.
Making sure that tax returns and accounts are calculated correctly is very important. But, ultimately, practices end-clients see greater value from being supported in their various missions and ambitions.
Our purpose (or mission) is to support practices in their growth ambitions. We do this through providing high quality and secure outsourcing/offshoring services – while keeping front-of mind what their end-goal is.
Set your firm with an ambitious goal, and let us support you achieve that goal by handling your productivity burden.
Vipul Sheth is founder and MD of Advancetrack
If you’d like to chat to us about supporting your practice’s growth plans, then please contact us by clicking here.
