Episode 24: Step-by-step Guide for every Accounting Practice’s Withdrawal Journey

Episode 24: Step-by-step Guide for every Accounting Practice’s Withdrawal JourneyWhat has changed in the accounting system? What are the latest trends and things to adopt for your accounting business?In this episode of The Wize Guys, Brenton Ward, Jamie Johns, and Ed Chan talk about Your Withdrawal Journey – building a practice that runs without you. If you are frustrated in your current situation and don’t feel like you are withdrawing from certain functions quickly enough, our mentors have some advice for you plus the use of WizeHub. Learn more on this episode.Timestamps:1:19 - How life-changing is the current system for accounting firms3:17 -  Why people are the greatest challenge and asset4:28 - TIP #1: Train your people to do the job.6:59 - The importance of stepping back7:39 - TIP #2: Document everything ~ every process you have.8:16 - TIP #3: Hone every structure for better leadership, flow, and productivity11:39 - TIP #4: Encourage bottom-top and not top-bottom hierarchy.12:39 - TIP #5: Be in control, and not be controlling.13:25 - What are the danger zones and roadblocks in the withdrawal journey?13:40 - How money should work for you and your business15:26 - How to run and manage an accounting business17:23 - Working IN the business vs Working ON the business22:23 - How to make the resource mix right27:08 - Reasons why you should take responsibility28:21 - How to start building a business that can run without you34:36 - How to hire strategically36:02 - Understanding the concept of ‘I don’t have time.’39:54 - Short-term vs. Long-term/ Urgent vs. Not Urgent/ Important vs. Not Important42:50 - Top tips for successQuotations:“..people are our greatest challenge, but they're also our greatest asset.” - Ed Chan “Being busy is not the same as being productive.” - Ed Chan“..the only difference between successful people and unsuccessful people is just simply the way they think.” - Brenton WardGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: [email protected] the full transcript here.________________  PS: Whenever you’re ready… here are the fastest 4 ways we can help you fix and grow your accounting firm:   1. Download our famous Wize Freedom Map for FREE - Find out the 96 projects every firm owner must implement to build a $5M+ firm that can run without them - Download here 2. Need to Hire right now? Book a 1:1 FREE discovery call with our WizeTalent hiring coaches to help find your next team member the Wize Way – Click Here 3. Work with Jamie and our mentors for 8 weeks - Build a custom business plan for your firm - Apply here