February 17, 2019
Plans for my firm have changed dramatically this past year. Instead of constantly growing which means increasing staff in tandem, I’ve come to the realization (unfortunately not of my own doing) that I like the lower level of staff needed to run my practice today and I don’t want to grow in both directions any more. For someone who loves the skill sets used to accomplish larger growth, that is quite a discovery.
Recently a few clients have moved on as their circumstances changed, and I haven’t rushed to fill their spots. They were high transaction clients with ever changing payrolls. I’ve taken a step back and decided that I want to have more control of the kind of clients we work with and ultimately I want to keep my boutique firm agile, more efficient and simple. There are certainly other benefits, like lower overhead, no office politics, tighter control of office procedures, and more time for each client.
I’m limiting our growth to clients who are only in the niches I want to pursue where we have the most knowledge. We all have better life/work balance because I’m choosing not to take clients that don’t fit this model. Taking in the best clients in our niches gives us the revenue to be successful. And by limiting the quantity of new clients outside those areas there will be no stress if something changes internally. We can adjust, be highly efficient and we can give better client service as well.
In business, there are many times that a change forces you to re-think your direction. Will you let that help or hinder you? Are you directing your own outcome or are you falling into place with what others are demanding? These are hard questions that need answers when you are pondering your future grow pattern.
Sometimes smaller is just better for you and your clients, and that takes lots of determination to keep your business within the parameters chosen.
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