Problems:
- Unsure of Value
- Concerned About Capacity To Grow
- No Time With Family
Solutions:
- Hire Capable Support Team
- Learn About Best Marketing Practices
- Price Services Appropriately
Goals:
- Create Sustainable Growth
- Spend Time With Family & Have a Career She Loves
- Assert Value & Expertise
There are such things as happy accidents, and Amanda Kendall-McGowan is living proof of that. She was a young mother, waiting tables when she realized that she needed a change. That change led her to a tax resolution firm, which turned out to be just the beginning of her accounting career. Now, a well-established accountant with a firm of her own, Elevating Profits Accounting Firm, Amanda has fallen in love with the world of numbers.
Today she enjoys many successes and still has plenty of time to spend with her children, but that’s not how things started. In the early years of her entrepreneurship, Amanda faced many obstacles… Obstacles that she couldn’t overcome alone. But, like many accountants before her, Amanda found our Create Your Dream Firm program, and in doing so, found the help & community she needed to build her own dream firm.
A Competitor Emerges
The Beginnings of Amanda’s Accounting Firm
Amanda didn’t fall into accounting in the traditional way. Instead, she gradually worked her way up the totem pole, adding layers of knowledge and expertise as she went. Though her path was not the traditional approach to this career, she put in the work and reaped the benefits. So much so, that when it came time for her then-boss to retire, he could only imagine handing over his tax resolution firm to one person, Amanda. And, even though he offered a helping hand as he guided her through this process, the demands on her time were often overwhelming.
“I was constantly working then...I was really working every day, Monday through Sunday.”
But, she had a career she loved and clients that counted on her, so she was in no hurry to give up. In her mind, she felt that as long as she put in the effort, she would eventually see the rewards. After all, she had started from nothing and now she had her own tax resolution firm. However, after taking a long, hard look at her internal procedures, she realized that if she was going to really grow her practice, she needed some help.
“Eventually, I got to a point where I knew it was time to either grow further on my own or I was going to stay stagnant forever.”
After giving several coaching programs a try, with no real results, she had a realization… She needed some one-on-one help to identify what problems were unique to her accounting practice and to determine how to solve them. The one-size-fits-all approach she’d been experiencing wasn’t cutting it, and then she found Dream Firms.
Time to Grow!
From Tax Resolution Firm Owner to Dream Accounting Firm Leader
From our very first conversation, Amanda saw something different. Shortly thereafter she began to experience the results that our new marketing approach generated. In one phone call, she was able to fix a nagging problem and secure 45 new reviews for her accounting practice. And, she saw differences from her clients within the week.
Although she was actively seeking out growth strategies, she was plagued by the thought of a smaller paycheck. She was at full capacity, so if she was going to expand her accounting practice, she would need to hire some help. But, she couldn’t afford a paycheck cut and she just didn’t see a way out…
“It was literally like I had a huge epiphany watching one of your training videos. I don't remember exactly which one it was, but it had to do something with pricing.”
So, she decided to discuss pricing on one of her group coaching calls. And, she was shocked to find that all the accountants in the group agreed… Her prices were way too low and did not reflect her value. Amanda came away from this call with newfound support in her work and an entirely new attitude about how her value would be communicated. And that started with charging higher prices.
“I need to constantly remind myself that people who can fix problems that others don't know how to solve deserve good money.”
Once she started getting what she was worth, she found that growing her accounting practice wasn’t nearly as daunting as it was in her head. Now, she had the financial capacity to hire qualified team members that could support her while she focused on growth and development.
What's Your Problem?
Getting to Know Her Dream Clients
Now that Amanda had the support and systems in place to foster growth in her accounting firm, she felt free to turn her attention to other things. Things like, what else she could do to help her clients. And, she didn’t waste any time beating around the bush.
“One day, I asked one of my clients, ‘What got you into this problem?’...That was a big light bulb moment for me”
It was this simple question that launched a whole new armory of services. She learned that what her clients really wanted was for someone to sit down and explain the financials to them. And with that, Amanda began adding accounting services that focused on helping clients understand the financial aspects of their businesses, like profit margins. With these new CFO-like services, she not only added monetary gains to her accounting firm but was also able to further assert her expertise.
“Honestly, I've grown substantially. We're now sitting with three full-time employees, a part-time employee, and myself.”
Amanda also found that with her new team and increase in cash flow, she was able to spend less time working and more time with her family. And, when there was a growth opportunity, she wasn’t worried about taking on a new client or sacrificing her time because she has the support and the systems in place to help her accounting firm grow sustainably. She tackles all of her problems with the same gusto and impressive work ethic that started her out in her accounting career. Today, she simply has a new mindset, better tools, and a little help from Dream Firms.
A Win-Win Situation
Higher Profits & More Time to Spend With Family
Amanda’s biggest fear about growing her accounting practice was losing even more of her time and taking a pay cut. But, after working with Dream Firms she realized that she could grow without experiencing these things. And, she did. In addition to herself, she now has three full-time employees and one part-time worker. She’s also added $78,000 in value to her accounting firm… All while maintaining her income and with time left over to spend with her kids.
