Reflecting on Last Year and Setting Goals for a Fulfilling New Year

The close of one year and the start of another are defining moments for business owners. It’s more than just turning the page—it’s an opportunity to reflect, recalibrate, and reignite your purpose. For public accounting firm owners like you, this is a time to assess not only your firm’s progress but also your personal growth and priorities.

Owning a business often feels like balancing a dozen spinning plates. Client relationships to nurture, teams to guide, deadlines to meet, and expansion goals to chase—it’s easy to lose sight of the bigger picture. That’s why, as you prepare for the new year, reconnecting with your purpose or “Why” is crucial. Your Why will help you steer your firm strategically and ensure that your goals bring fulfillment both professionally and personally.

Reconnecting with Your Why

Before diving into goal-setting for your firm, take a moment to reconnect with the reason you started this business. Ask yourself:

• Why did I decide to run an accounting firm?
• What aspects of my work bring me the greatest sense of purpose and satisfaction?
• How do I want my firm to impact my clients, my team, and my own life?

Your Why may be rooted in serving small businesses, mentoring future CPAs, achieving financial independence, or providing for loved ones. Reconnecting with it will not only strengthen your resolve but also help you make strategic decisions that keep you aligned with your purpose.

Consider how rediscovering this motivation can influence your leadership as well. When your team sees you leading with vision and clarity, it inspires trust and alignment toward common goals.

Reflecting on the Past Year

The challenges and victories of the past year hold valuable lessons for setting future goals. To gain clarity, reflect on these questions:

• What went well in the business? Consider client wins, team achievements, revenue growth, or process improvements.
• What challenges did the firm face? Whether it’s client retention, staffing shortages, or technology hiccups, identifying pain points helps you prepare solutions for the future.
• How well did I balance my roles? Beyond being a firm owner, you’re also a leader, mentor, and possibly a parent or partner. Acknowledge whether you’ve been able to dedicate time to all areas of your life or if adjustments are needed.

Reflection isn’t just about looking back—it’s about setting a stronger foundation to move forward with clarity. Each challenge or failure should result in a lesson you can use in the future.

Also, remember that past hardships are what made you strong enough to survive until now.