Opportunities During an Economic Slowdown
Source: Accounting TodayIn this article, L. Gary Boomer says firm members make good decisions when they feel confident, and vice versa. He suggests the firm conduct a summit meeting (the word “retreat” gives the wrong signal). At the summit develop a one-page strategic plan. The complete article gives advice on how to develop a strategic plan. You can also visit our Practice Management Index (click here) and scroll down to Strategic Planning for several articles on this subject from previous issues of CPA Leadership Report.
The plan should include:- Vision, mission, and values.
- Goals—revenues and profits.
- Service offerings.
- Training programs and staff retention plans.
- Investments in technology and marketing.
Show clients you are interested in them and care about them, especially during a downturn. You will serve clients better and generate more revenues.
Demonstrate confidence by following the advice above, and by being positive at staff meetings, grateful to employees, and communicating regularly.For the complete article, click here and select "Boomer’s Blueprint: Inspire Confidence—and Build Your Business" from the May 5, 2008, issue.
From Accounting Today, May 5, 2008, SourceMedia Inc., One State Street Plaza, 27th Floor, New York, NY 10004, 800-221-1809.
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