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By Matt Solomon
The Center for Enlightened Business
This article is the first in our Five Shifts series, which lays out five key shifts you need to take your business away from a high-volume model with long hours and unfulfilling work and toward monthly engagement of $3,000-$15,000 per client with $500+ hourly realization rates and a better quality of life.
SHIFT 1: Stop Depending on Compliance Work
The idea of reducing your dependence on compliance work may be radical for some accountants and familiar to others.
Compliance work is the main source of income for many accountants, but unfortunately, it’s a high volume, low-profit ballgame. In order to be successful, you need to have flawless execution and massive leverage – if anything is out of place or goes awry, you won’t get the results you’re hoping for.