Episode 14: From Practice Owner to Business Owner, with Mark Calleja
“I can say I have a business now, because I am able to generate money from the business and I don’t even have to pull a pen out to do that. That is the sign that I’ve got a business that’s operating versus a practice.”
Sam interviews Mark Calleja, accountant and business advisor based in Sydney who has been through the journey from practice owner to business owner and now to business advisor. Mark shares his journey of over 20 years in accounting and what happened when he moved into practice ownership.
Mark and Sam discuss the crossroads that had him deciding to do things differently and the practical and mindset shifts he had to make to double his turnover, decrease his work hours and increase his enjoyment of work again. They then cover his move into advisory, and why conversation is the most important piece. Sam and Mark finish discussing what the industry can do to increase conversation skillsets and the importance of experienced accountants becoming good mentors.
Connect with Mark via email mark@mcaccg.com.au or on LinkedIn.
Listen to a snippet
What we cover in this episode
Mark’s journey of over 20 years in accounting
His move into practice ownership and taking proactive action for his career
The crossroads that had Mark decide he needed to do something differently
The problem with getting stuck in the whirlwind of business and never having time to create change
The mindset that prevents practice owners from hiring staff and what they miss out on because of it
Mark’s increase in turnover, increase in enjoyment and decrease in hours since intentionally hiring help and changing his practice
The difference between a practice owner and a business owner
Mark’s story of doubling his turnover and then moving into advisory
What advisory means to Mark and the most successful advisory client shifts he’s had
The power of conversation and a persistent, repeated message
The difference between hearing and listening, and why it’s the key to making an impact on clients
What Mark sees as the future for accountants and advisors
What the industry can do to increase conversation skillsets
The importance of experienced accountants becoming good mentors for younger generations
Quotes
“One of the biggest challenges for me is that we get so busy in the whirlwind of our businesses that we don't have time to do that change, that action.” ~ Sam
“I think I was working 16-17 hour days, and it was six days a week as well. I knew I couldn't continue doing that. I knew that if I was going to continue down that path, things were not going to be good for the practice, for myself and for the family.” ~ Mark
“One thing that I've probably learned on my journey is that your clients don't care what you miss out on. They don't even appreciate what you do half the time. As long as it gets done, they are satisfied in terms of the lodgements being done.” ~ Mark
“I can say I have a business now, because I am able to generate money from the business and I don't even have to pull a pen out to do that. That is the sign that I've got a business that's operating versus a practice.” ~ Mark
“From when I started [working with BlueprintHQ] to two years on, I doubled my turnover…in that time, I pretty much made myself redundant from the compliance side of the practice. That's still the main generating point of my practice, there's no doubt about that. But I pretty much made myself redundant from the main source of income in the business.” ~ Mark
“Just getting the right conversation happening with our clients, I think that's a disruption in itself. Conversations have been there since man was was born, I just think as accountants and advisors, we haven’t been taught that properly.” ~ Mark
“Conversation is something that can be taught. It does take time, there's a whole mindset change, but there's little things that you can do to tweak going forward. It's very much a learnable thing.” ~ Sam
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