Why Accountants in Miami Need the CEO Mindset
Most CPA in Miami are accustomed to the idea that, for the sake of growth and development, it’s important to think of their advisory practice like a business.
But many CPA in Miami forget that this makes them the CEO and requires a particular mindset.
CEO mindset, why CPA in Miami don’t have it, and why they need it.
“To me, a CEO mindset is about helping CPAs understand, whether you are working in a Fortune 500 corporation or you’re a CPA in Miami, your outcome and your success are dependent upon your thinking like a true business owner. [And remembering] that you have control over the outcome,” Gustavo A Viera CPA said.
- Experience: Define and write what the client experience looks like, decide how to market to them, and design the tools, people, and systems around that experience.
- Pricing: CPAs have control over what they charge for accounting services and should consciously decide why they are pricing themselves there.
- Growth: Decide beyond client service and planning, how will you bring in more assets? A partnership, buying a practice, hiring in another CPA with a book of business? Choose a way to expand at a faster rate.
“But,” Viera said, “You can’t really grow, and develop the client experience you want, stick to your pricing model or implement growth strategies unless you leverage.”
Viera also said it can be very difficult for CPA in Miami to change their thinking and their approach to their practice, especially when they have created value in a specific way with clients.
“Most CPAs are trained as practitioners, so they’re really good at services and talking to clients, but they’re not as good at making business decisions,” Viera said. He said CPA’s want to be in a groove with their practice, not a rut.
So why should CPAs in Miami think and act this way? How will it help them?
“The biggest reason to go down this CEO mindset and leverage other people is to free them up and allow them to realize that there can be more people serving their client, allow them some disconnect time from their CPA practice which can allow them to be more strategic,” Viera said.
He added, “Growth shouldn’t be your sole purpose. I believe you can serve the client better, you can have a more productive personal life, and by the way, the other benefit is you’re going to get growth and better income if you navigate the change well.”
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