Building a Sustainable £1 Million Practice, Working 3-days a Week
19th Nov 2020
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A £1 million practice working only three days a week? Might sound unimaginable but our guest speaker, Shane Lukas, has turned this into reality. Not just for himself, but for his clients as well. Tune in to listen to some insightful ideas and opinions to build your own successful practice.
In this episode of QXAS podcast, Lukas talks about his methodology that helps his fellow accountants grow their practice while maintaining the perfect balance between personal and professional.
Keeping in mind the pandemic situation in the UK, Lukas puts forward his optimistic perspective where he emphasises on how these challenging times can be turned into a meaningful change. In fact, he believes 2020 has opened new doors for accountants where they can bring more value to their clients.
He also raises his concerns about the mental health of the accountants. According to him, what accountants are more bothered about are the numbers in the balance sheets, budgets and cash flows. And amidst all the pressure, they don’t get the time to think about the numbers that actually matter i.e., working hours, working days, blood pressure, etc.
With his expertise and experience, Lukas gives our listeners a failsafe plan that will surely allow them to pave their ways to new avenues and opportunities. In this episode, Lukas mentions outsourcing as a catalyst to striking the right chord between an accounting firm’s growth and an accountant's mental health. An offshore partner plays a crucial role in his growth strategy and Lukas always advises his clients to hire one. Instead of focusing on fulfilling compliance work, they can focus more on revenue-generation activities. This method allows accountants to pay minimum costs and helps reap maximum profits.
£1 million practice is no more a dream costing time, blood and sweat. Smart work can help reach the goal without having to worry that your practice will dominate your lifestyle.
We help organisations prioritise – by meeting staffing shortages and taking care of non-core functions like payroll, bookkeeping, taxes, and much more– so that businesses can focus on scaling their practice and increasing revenues.