You're Doing It Right
Special thanks to this week’s guest writer and accounting industry legend, Geraldine Carter. Geraldine and I have worked together (in both directions) for years and I’m blessed to call her a friend in real life.
Also - Geraldine has graciously offered to lead the “Firing Clients” session inside of Aligned this month. Believe me, you don’t want to miss it. See below for details!
—Erica
Hi, I'm Geraldine, a friend and colleague of Erica's. She asked me to write something for you while she's stepping away.
The first few years as a new firm owner can be rough. Here are five things I see that I hope help normalize the experience for you and inspire you to keep going. You've got this!
1. Expect it to feel daunting.
In the first few years of business, everything is wide open. Anything is possible, which means everything is an option. Every decision therefore requires your brain to explore the entire range of possibilities, which is why it feels so exhausting. Your brain has to do a ton of hard work. So if it feels daunting, that's not a sign something's wrong. It's simply the stage you're in, and it goes away over time.
2. Know what's not negotiable.
What matters most to you right now? Is it revenue, and you're willing to trade some free time to get it going? Or is it your time, and the revenue can come second? Or is it the flexibility to be at the bus stop at 2:00? There's no wrong answer. It's your firm. You make the rules. But knowing your answer makes every other decision so much easier.
3. Get good people around you.
Shortcut your path to answers. If you can't find an answer in your own brain on the first pass, it's because it's not in there yet, so don't spin out looking there. Find people you can ask questions, get good perspective, and get answers from so you can make a decision and move forward. HINT: see Erica's community. Seriously.
4. The thing that moves firms forward is the ability to make decisions.
You cannot steer a parked car. You will not have complete information, and you will need to make decisions anyway. This will challenge the perfectionist in you, the part that wants just one more piece of information before committing. Get comfortable making decisions when information is lacking. Make the call, see what happens, learn from it, use it to inform the next decision. I'm not suggesting you go be reckless! You won't be – you're not the reckless type. So just practice making decisions 10% sooner.
5. You cannot screw this up.
Trust yourself. The only way to learn how to be a firm owner is to keep making decisions and to keep going. Three years from now, who you serve, what you charge, and what you say no to will be so much clearer. You cannot skip the figuring-it-out part. You have to go through it. That's the work, so keep going. One decision, one day at a time.
You've got this! I have faith in you.
– Geraldine
P.S. I write a daily email called Vitamin G for solo and small firm owners who want to build a business that doesn't run them into the ground. If that sounds like something you need, you can sign up here. »
What’s Happening in Aligned
Recently Added to the Video Library:
AI-Native GL Showcase [self-paced] Get a rundown of Digits, Kick, Puzzle, and COUNT in under an hour without booking a sales call
Professional Insurance 101 - What Every Accounting Firm Owner Should Know [8.18.26] Much requested Jock Wols or Risk Desk gave us a solid understanding of firm owner insurance basics
Sabbatical AMA Companion Guide [7 pages] A visual reading version of the Sabbatical session from 8.6.26 is now available
Claude 101 Workshop: Setup 30-min, hands-on workshop setting up Claude Pro, adjusting privacy settings, learning usage limits, and giving Claude context for what you do
Hiring: Your Questions Answered with Connor Bland staffing questions answered for solo and small firm owners
🤔 Question of the Week > How many clients do you already know you need to let go of to make room for the firm you actually want to build?
💬 Current Discussions On > Tax prep for accounting firm owners (because not everyone does taxes), getting clients through job postings, adding tax as a service, accounting for taxation of different meal types, disengaging clients, and more!
Join 150+ other accountants building non-scaling, life-focused accounting firms.
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More details in the link above.