Year-end can be a pretty hectic time for many of us. But it is a great time to work on positioning your firm for a prosperous new year. Taking the time now to focus on some key areas of your practice, will pay off for you when the new year gets going.

Brenda Barnes, CPA

Think about strategic planning. Evaluate your firm’s successes as well as, areas that need improvement. Use this information to help establish goals for the upcoming year and modify policy and procedure as needed.

Update engagement letters and analyze rates. It’s not enough to calculate how much you’d like to make per hour, it’s also important to determine if your rate is realistic. Take a look at the market and see where you stand.

Develop a budget. Setting a budget allows you the opportunity to assess whether your ideas are going to be a success or a failure. It provides an important view of where your firm is headed and allows you to make plans for the future.

Analyze your cash flow. Good cash flow management can spell the difference between a successful practice and one doomed to failure. It also allows you the ability to invest in growth. Establish a system that keeps you from operating on the defensive.

As a full-service management consulting firm, B2 partners with our clients to deliver solutions that help solve their most complicated needs. Utilizing decades of industry experience and functional expertise, we can assist you in growing your practice in a strategic way that helps you prepare for the future.

Published On: December 2nd, 2019 / Categories: B2 News Tips /