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What Stops Practice from Growing? In this thread of tweets let’s analyse the reasons why professionals can’t grow their practice beyond a point. What affects momentum of growth. Whether it’s avoidable? Let’s quickly dive into it. #CA #Lawyers #CS #ICAI #Professionals #cabiznet
Taking up the Wrong work - in initial period, professionals tend to accept any kind of work that comes their way, fearing they may not get another work if they deny available work. This behaviour should be curtailed and professional should be patient enough to wait for right work
Not Specialising - it’s a proven fact that specialist earn more. For eg, a heart surgeon will always earn more than a general practitioner. Today focus is needed in any profession.
Not building on Skills & Knowledge - professionals don’t give priority and regular time to knowledge building. Time should be kept aside for sharpening the axe. There are continuously new concepts are invented, new research is being done and one must be abreast.
Not using technology to the fullest - Business world is thriving on technology and professionals are no different. Technology can give them speed, efficiency and new solutions. One needs to be constantly updated about new technologies in business.
Not establishing Oneself as a Brand/Authority - clients wants experts to handle their affairs and they want star professionals so it is very important to build ones brand and status. One should build knowledge and get right visibility in the market.
Not building Networks - network is your networth. Business is all about people. Network is more about farming than hunting. You need to give first to get it back. You should look to add value to others.
Not building right Infrastructure/Systems - if systems are not in place, things depend upon people and people have their moods and whims. Work should be system based and not people based. Systems don’t get tired and systems are not prone to human errors.
Not building hierarchy - Professionals need to build a team below them and groom them so that team can replace professional. Once professional is replaced by his subordinates, he can aim for higher things.
Always being busy - once in a while , one has to sit aside and think about what’s happening , where is he standing, what is going right and what is going wrong. One needs to strategize.
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