Hello folks, this is part 2 of My Year 2016 review. I do not mean to spam AW with my blogs. I have a lot of other things on after today. For this reason, today is my best day to draft the blogs. I was also keen want to put 2017 in perspective. My Year blogs help me to do this.
July and August
It was more of the same as previous months. I was not able to move to business development. We were still in the firefighting stage. We carried on. My sleep pattern was still poor.
The practice went through a dry spell on client recruitment. I was both concerned and relieved. We had enough work to do. At the same time, I was worried about future growth.
I had to say goodbye to L the admin person. She did not work out. Finding a replacement is stressful. I took on B as a temp.
With all that was going at the time, I agreed to Q taking a month off as annual leave. I thought, not granting the leave would not help with her motivation. I will not do this again. A month is just too long.
I undertook Due Diligence on the fee bank I purchased. It involved a 6-hour return trip to see the sellers. After meeting the sellers and my inexperienced (at the time) due diligence, I was happy to go ahead with the purchase.
The contract was signed on 31 October 2016.
November and December
The purchased fee bank, overnight, increased the client base and our workload! I underestimated how much of my time would be taken up on the fee bank.
We (the sellers and I) went through the process of informing clients about the purchase. It was another stressful period, to make sure clients do not jump ship.
So far only one client has left. That was because I had enough of him. He was too much of a headache.
Summing up 2016
Without My Week blogs, I would not have been able to reflect 2016. The year has flown!
It was the most stressful year of the practice’s nine-year life. Key stress factors were:
- M leaving during the tax returns season
- Practice Growth
- Move to TaxCalc
- Purchase of fee bank.
I have feelings of satisfaction and disappointment about 2016. It was such a challenging year. I do not want another year like it.
What about 2017?
I think (please, I hope) 2017 will be a better year. This is is because we now have an okay client base. Q is gaining her confidence and taking on more responsibility. I am NOT buying another fee bank in 2017!
I want 2017 not to be so much about growth. I want it to be consolidation and improving our systems, so we enhance our efficiency. I also want to be a year in which I take a week off and run away somewhere hot.