Meet Jasmine Simpson, the owner Good Stewart Financial Company. She owns an accounting firm with 4 team members and over 25 clients.

In this episode, we talk about why it is important to focus on working on your firm instead of in your firm and how you can do this by with standardizing your process and delegating client work

Show Notes

Host:
Welcome back to another episode of The Accounting Firm podcast where we bring you valuable discussions and insights from accounting firm owners. I’m your host, Shahram Zarshenas and in today’s episode, we have a special guest joining us to share her experiences and strategies in growing her firm. Our guest today is Jasmine Simpson, the owner of Good Stewart Financial Company. Jasmine, welcome to the show!

 

Guest:
Thank you, Shahram. I’m excited to be here and discuss my journey with you and your listeners.

 

Host:
Let’s start by talking about your firm. Can you give us a brief overview of the services you provide and the clients you serve?

 

Guest:
Certainly. Good Stewart Financial Company specializes in providing comprehensive financial consulting services to small and medium-sized businesses. We offer accounting, tax planning, and business advisory services. Our clients come from diverse industries, including technology, healthcare, retail, and professional services. We take pride in delivering personalized solutions to help our clients achieve their financial goals.

 

Host:
That sounds impressive. Growing a firm can be challenging. What strategies have you employed to focus on the growth of your firm?

 

Guest:
One of the key strategies we’ve implemented is a client-centric approach. We prioritize building strong relationships with our existing clients and understanding their evolving needs. By providing exceptional service and consistently exceeding expectations, we foster client loyalty and generate positive word-of-mouth referrals.

Additionally, we actively seek out new business opportunities by networking and establishing strategic partnerships. Attending industry events, participating in conferences, and joining professional associations have helped us expand our reach and connect with potential clients.

We also invest in continuous professional development to stay updated with the latest industry trends and regulations. This enables us to offer cutting-edge solutions and expert advice to our clients, positioning us as industry leaders.

 

Host:
It’s great to hear about your client-centric approach and commitment to professional growth. What were some of the challenges you faced during the growth phase, and how did you overcome them?

 

Guest:
One of the main challenges we encountered was managing increased workloads while maintaining quality standards. As our client base grew, we had to ensure that we could meet the demand without compromising the level of service. We addressed this challenge by implementing efficient workflows and leveraging technology to automate repetitive tasks. This allowed us to streamline our processes and allocate more time to client-focused activities.

Another challenge was hiring and retaining top talent. Finding skilled professionals who fit our company culture and shared our commitment to client success was crucial. We implemented a thorough hiring process, including multiple interviews and skills assessments, to ensure that we brought onboard the right individuals. Additionally, we focused on creating a positive work environment that fosters growth and provides opportunities for professional development.

 

Host:
Those are significant challenges, and it’s inspiring to hear how you overcame them. As the owner of the firm, how do you balance your focus between managing the day-to-day operations and driving the firm’s growth?

 

Guest:
Balancing day-to-day operations and strategic growth is a constant juggling act. To ensure that I stay focused on both aspects, I delegate responsibilities to my capable team members. Empowering them to take ownership of their roles allows me to concentrate on high-level decision-making and growth strategies.

Regular meetings and check-ins with my team keep us aligned and ensure that everyone is aware of our overarching goals. I also set aside dedicated time to work on strategic initiatives, such as exploring new markets, refining our service offerings, and identifying potential partnerships.

 

Host:
Delegation and effective communication are key to maintaining that balance. As we wrap up, what advice would you give to fellow entrepreneurs who are looking to grow their firms?

 

Guest:
My advice would be to stay agile and adaptable. The business landscape is constantly evolving, and it’s crucial to embrace change and seize opportunities. Invest in building strong relationships with your clients.

 

Host:
Thank you.