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The Accounting Mindset You Must Have for Accounting Firm Growth

change your accounting mindset blocks

Have you ever played a virtual reality game and felt like you had a greater chance at succeeding in that fake world than in your accounting business in real life? Or to put another way, does winning at virtual reality in general seem easier than winning at your accounting firm? After all, some games even have cheat codes you can use to speed through the different levels so you can level up fast, right? But what if there is an actual way for you to level up fast in your accounting firm

Reprogramming Your Accounting Mindset

As an accountant, let’s talk about how you can develop a new view of reality, because reality might be different from what you think it is. Think about it this way:

We all learned in school that atoms exist, right? When you look at a chair, or a wallet, or a desk, it’s all made up of atoms. Take a green Expo® marker, for example…

 It has the word “Expo®” on it. If you look at it with your eyes, it’s going to look different than if you were able to look at it through a cat’s eyes.

It just looks like a marker, right? It’s green. It has the word “Expo®” on it. If you look at it with your eyes, it’s going to look different than if you were able to look at it through a cat’s eyes. If you look at it through a microscope, it would definitely look different. In addition, if you looked at the marker through the eyes of an ant, it would change again. The point is, with different perspectives comes different views of the same thing. 

We also have different views of different objects. For example, let’s talk about your view of bacon and money. Bacon is typically easier for most people to physically acquire than money, right? In other words, it’s not too difficult to go to the supermarket and spend a small amount of cash in order to acquire a package of bacon. Money, on the other hand, is seen as something harder to physically acquire because most people see spending money as easier than making money. 

let’s talk about your view of bacon and money

What if you could switch that, meaning what if bacon was hard for you to get your hands on, but getting money was relatively easy? What if making money was easier than spending it?

let’s talk about your view of bacon and money

The thing is, you CAN switch that. It’s just a matter of “re-programming” the way you see the game. Once you see things in a new way… money can be just as easy to get your hands on as bacon. How can we reprogram the way we see the game of building your accounting firm? 

Accounting Mindset Begins to Change With This

Just like you do in a virtual reality game, you want to create a better chance for yourself to “win” with your accounting business while other firms are stuck playing by their normal, self-limiting rules. Here’s how most accountants are seeing the themselves (and it’s causing them to fail):

  • “I don’t have enough time.”
  • “I can’t charge my clients that much.”
  • “I’m too old.”
  • “I don’t have enough money.”
  • “I don’t have enough experience.”
  • “I don’t have a license.”

Do you notice the ONE common word in all of these statements? The common denominator is “I.” It’s the ego, the way you’ve defined your character in life and business. All these people have an identity crisis. They think the world is the way they see it, that it’s hard and they can’t change it. 

Accountants Need to Change How They View Reality

Don’t let yourself get stuck because of how you see the world! The reason you feel you can go into virtual reality and succeed, is because it’s like a game. You can go into a game and do anything, right? But the truth is…you can do that in real life, too! 

Business can be seen as a game. In other words, you have the power to do anything. You just have to be willing to view things differently than you’re used to. For example, do you typically think of yourself as a tax prepper? Wrong! You can do advanced level CFO work (for top dollar contracts) if you believe you can.

Accountants Must Realize There’s More That We Don’t Know Than We Do know

You may have a lot of knowledge about many different things, but your experience of the world leaves you with a lot of unanswered questions. Even if you’re the smartest person in the world, at the end of the day, there’s more that we DON’T know than we do know. This includes how to grow and optimize an accounting firm, because if you knew everything about growing and optimizing, your firm would be acquiring the Big 4 and expanding with locations around the entire globe!

Can you get out of debt? Make $250k/ year? $1M/ year? You just don’t know. This is why you need to expand your way of thinking to believe in crazy things if you’re going to create an “impossible accounting business.”

Accounting firm growth starts with being willing to look at your accounting firm through a different lens. Instead of assuming “I can’t,” ask yourself how you “can.” How can you achieve the business goals you’ve set? It all starts when you become a different accountant, and have a different view of your clients. 

The Right Accounting Mindset is Capable of Achieving Accounting Firm Growth

  • I can’t get clients.
  • I can’t increase prices.
  • I can’t get paid on the first call.
  • I don’t know what the best accounting firm software is to use.
  • I’m just an accountant and not a good salesperson.

It’s very difficult for you to succeed if you go on thinking life and growing your accounting firm is hard, short and brutal. If you think you can’t do something with your accounting firm, then you won’t be able to because you won’t even try.

So, start by changing the lens through which you see reality through your firm. I know for a fact that I was able to reach $10M in sales after just 3 years in business because I believed I could. I know once you believe in the impossible, you’ll be able to achieve whatever you set your mind to, and you’ll make your own reality inside your accounting firm.

Questions Accountants Must Ask Themselves to Achieve More

As you’re going out and trying to make magic happen inside your firm, achieve your goals, and do something you’ve never done before, you’ve got to think, “How can I design my accounting firm to achieve my goals?” I very rarely ask, “What is true?” I typically ask, “What do I need to believe in order to have whatever I want?”

That’s a completely different way of thinking. Accounting firm growth is about getting your mind to think about success rather than just about truth. So, when you think about your accounting firm, you don’t want to have these fixed beliefs like: 

  • “It’s really hard to get appointments!”
  • “People don’t want to pay high prices.”

If you’d just look at it in a different way, then you’d act in a different way. Most accountants that are in this two-sided, binary mode of thinking can’t think of something else. It’s the same thing in their accounting firm, accountants are getting triggered by things that aren’t real.

Accounting Mindset Is Based on Identity

Your identity is what holds you back with your accounting firm. What you think about yourself and who you think you are limits you. This is why you should try to make your identity completely flexible, because you don’t want to be stuck on anything for a long period of time. You want to be constantly moving and changing, staying up to date on the latest accounting firm software.

Everything you believe about your accounting firm that holds you back is a lie. You have to take the opposite side and it’ll move you forward. For example, instead of thinking of yourself as just an accountant who can’t ALSO sell…think of yourself as a good salesperson.

It’s a natural tendency for many accountants to put themselves in a victim mentality where generating business is hard and they’re trapped, but you don’t have to do that because you can “flip” that belief and see the opposite side.

Create Your New Accountant Mindset Identity

Want some help making a BRAND NEW reality for yourself and your accounting firm? A reality that could include getting leads on autopilot, choosing which clients you want to work with, and working less hours while earning more? A reality that could include selling tax planning services to your clients? A reality that can include using state-of-the-art accounting firm software for tax planning inside your practice? The possibilities are endless and your business potential is huge.

Remember that the accounting mindset you need to succeed big starts with one simple ingredient—a change in belief that you can change your identity! 

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