In episode 64 of The Woodard Report Podcast, hosts Joe Woodard and Heather Satterley discussed the barriers preventing many accounting firms from delivering distinctive, powerful, high-impact services. They outlined 10 key obstacles firms must overcome to achieve true service excellence.
As Joe Woodard stated in the episode, "This whole thing is a practice plan executed with help." The path to excellence requires vision, purpose, the right mindset, and intentional action. Firms also need guidance and coaching to put the pieces together.
The 10 Barriers to Excellence
The 10 barriers discussed were:
- 1. Lack of Purpose
- 2. Poor Systems
- 3. Disempowered Teams
- 4. Reactivity
- 5. Undifferentiated Services
- 6. Overload
- 7. No Measurements
- 8. Wrong Expectations
- 9. Hourly Billing
- 10. Fear
Each issue builds upon the other, compounding the challenges firms face. For example, without purpose and vision, it's impossible to build an empowered team and effective systems.
As Heather Satterley explained, "A lot of us get to the point where we're in that overload, kind of place, whitewater, right? That place in our profession where we're working too much. And we end up focusing only on the task because that's all that we actually have the capacity to do."
Seeking Help to Overcome Barriers
The path forward requires seeking outside help. As Satterley reflected, "The only way to get out of that was to seek help from someone else. To help me organize my thoughts, step out of that place where I felt like I was completely overloaded."
Coaching provides the bridge between education and execution. With an expert guide, firms can find their purpose, build systems and culture, and take the right actions to achieve excellence.
There are no quick fixes or simple formulas. But with vision and commitment, firms can transform their practices. They simply need a plan and a little help along the journey.
Listen to this impactful episode of The Woodard Report podcast below, and don't forget to subscribe on your favorite podcast episode using the links below.