Free Site Registration


More Accounting Tomorrow Posts

Got goals? Good, now focus them

Print
Email
Reprints
By Sarah Johnson
January 28, 2013

We all know goals are important. In fact, it’s the foundation of every business strategy. If you have ever been through any business course, they beat you over the head with it.

Goals are not enough.

Now you might be wondering if I’m against goals all together. The answer is no. I am probably one of the most goal-oriented planning individuals you will meet. I live by my goals and to-do lists. And, while I love these things, they aren’t enough. In order for goals to be effective, they need to be focused on the right things. You can accomplish just about any goal, but it might not always deliver the results you want.

Take, for example, a common revenue goal. Almost every accounting firm I work with has a revenue goal. There are a million ways you could reach that goal. For example, you could take in 100 price-sensitive, high-maintenance tax clients to meet your magic number. Or, you could bring in 25 high-value, low-maintenance tax clients and still meet that same goal.

Adding a focus helps ensure your goals are eliciting the right behavior because it defines the activities, not just the outcomes. I have always been a firm believer that the right activities will always accomplish your goals. Even more importantly, it keeps you focused in the present, rather than the future—which is critical from an execution standpoint.

Taking our same example above, we can take our common revenue goal and add a focus. This might involve partners having lots of conversations with qualified prospects and COIs (centers of influence) rather than hitting a specific revenue number. Or, building visibility in a new niche could include involve spending time writing and speaking on content for that particular niche.

Adding a focus has some other benefits. It can keep motivation afloat throughout the year. Focusing on activities seems less daunting than hitting an arbitrary figure—thus decreasing the fear factor of failure. It is also easier to help employees identify their role in achieving the goals. While a partner might be focused on having the right conversations with clients, a staff member could be focused on cost-saving behaviors.

Now, the timeframe you set might not always be met, so patience is required. However, we almost always find that the right activities will always lead to the goals you set, and often surpass them.

Sarah Johnson is the chief growth strategist with Inovautus Consulting, a firm that works with CPA, law and professional service firms to help them grow more effectively, and author of “Practical Ideas for Growth,” a blog dedicated to growing professional firms. Her counsel and strategies have helped move firms to the next level in their marketing and sales efforts. Connect with Sarah at 773-208-7170, sjohnson@inovautus.com, or www.linkedin.com/in/sjjohnson

 

0 Comments

Be the first to comment on this post using the section below.

Add Your Comments...

Already Registered?

If you have already registered to Accounting Tomorrow, please use the form below to login. When completed you will immeditely be directed to post a comment.

Forgot your password?

Not Registered?

You must be registered to post a comment. Click here to register.


Follow Accounting Today
Advertisement
Advertisement

Women in Accounting: Where are the Leading Ladies?

May 17, 2013

Marcum’s Nanette Lee Miller and Janis Cowhey McDonagh sat down with managing editor Tamika Cody to discuss some of the obstacles women in the accounting profession face when trying to make their way into leadership positions.

IMA’s Jeff Thomson on the Role and Skills of Management Accountants

May 8, 2013

Institute of Management Accountants president and CEO Jeffrey Thomson discusses why accounting students should consider management accounting as a career, and the IMA's partnership with John Wiley & Sons.

Breaking out of Molds to Get Ahead

May 6, 2013

ConvergenceCoaching partner Jennifer Wilson talks with Accounting Today senior editor Danielle Lee about how female accountants can position themselves better for a promotion at their firms.

Advertisement

SLIDE SHOW

Top 10 Tech Initiatives -- 2013

May 5, 2013

The AICPA's annual list of IT priorities for accounting firms.

Tax Stats: May 2013

April 30, 2013

Our monthly collection of statistics from the world of tax.

10 Biggest Estate Planning Mistakes

April 29, 2013

Help your clients avoid these common pitfalls.

Common E-mail Security Mistakes

April 23, 2013

These five bad habits can make your confidential information -- and that of your clients -- easy to steal.

The Art of the Tax Cartoon

April 9, 2013

A selection of tax cartoons from Philly tax firm Drucker & Scaccetti's 'Finding Humor in Taxes' exhibit.

Advertisement
Advertisement
Advertisement