August 2009

Monthly Archive

Is Perfectionism Hurting Your Bottom Line?

Posted by Gabrielle on 04 Aug 2009 | Tagged as: Articles, Everything Else, Q & A

I’d like to ask you an important question: In your business, are you a perfectionist or a pursuer of excellence?

Many bookkeepers tend to be perfectionists. It makes sense really, when you think about it. We are very good at organizing and processing lots of small details, and getting them booked into business financial records accurately. An admirable skill that many simply do not possess.

But being a perfectionist does not mean that you are pursuing excellence.

The reason? Perfectionists have a tendency to focus on the wrong priorities.

Haven’t you found yourself spending way too much time fussing over details? I know I am always at risk of getting sucked into making every little detail on my clients’ books exactly perfect. If you haven’t had this experience, well, you’re probably not a perfectionist! (But read the rest of the article anyway. You’ll learn how to pursue excellence with a simple system even non-perfectionists can use effectively.) ;-)

Perfectionists can easily waste a lot of time and energy (that they ultimately cannot bill out to their clients) trying to do certain tasks exactly right. Sure, we tell ourselves that we are providing top-notch client services. However, the truth may be, doing those tasks “perfectly” may not be necessary or even valuable to our clients.

Interestingly, this is often the difference between bookkeepers and accountants as well. Accountants tend to look at the big picture and make adjustments accordingly. Bookkeepers have the tendency to want every little transaction booked exactly right.

Who generally makes more money?
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The difference between Perfectionism and the Pursuit of Excellence
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Perfectionism: A disposition to feel that anything less than perfect is unacceptable — Princeton University website

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It’s easy to see how being a perfectionist can be a double-edged sword when it comes to running your own business. Perfection, of course, is not possible in an imperfect world, so it is an unrealistic expectation.

The good news is, perfectionism, with a little tweaking, can be directed toward the pursuit of excellence, with amazing results.
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Excellence: Achieving a high level of performance; exemplary performance; exceeding normal expectations of performance or meeting the highest expectations of what can be achieved; performing well in excess of the norm; outperforming most. — University of Southern Queensland website

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How can you pursue excellence while letting go of perfectionism?

Rewards help.

It’s a lot like how I learned to become a Scrabble® champion (among family and friends). I learned this lesson from my Lithuanian immigrant grandmother.

When we would play, I used to come up with fantastic words using nearly all my allotted letter tiles all at once. But I never seemed to make many points. My English-as-a-second-language grandmother, however, had this knack for dropping a single letter on the board and raking in mega points – usually from my big fancy words! That used to really burn me, and it just didn’t seem fair. I was doing all the work, but she was getting all the points!

But then I figured out her strategy. She was paying attention to different priorities than I was. She was focused on points, looking for opportunities to put her letters on the Double and Triple Word Score boxes. I was just trying to use as many letters as possible by coming up with long and thoughtful words. Her priorities were in the right place. I needed to pay more attention to WHERE I was placing those big brilliant words.

Once I started putting my words in the right places, I virtually become unbeatable! I even dethroned my grandmother from her long-standing family champion position. (No one wants to play with me anymore.) ;-) scrabble_pieces_small

This is exactly how perfectionists can learn to pursue excellence and build a highly profitable business as a result. It takes a little practice and discipline, but once you apply the tenacity of perfectionism to the pursuit of excellence, you will be reaping extremely powerful benefits for both you and your clients.

Focus and Priorities

Simply put, you must keep the end result of what is most important clearly in focus at all times. Then set definite deadlines for reaching those results.

In practical terms, I do this on a daily and weekly basis with priority lists. I keep deadline-driven project priorities visible at all times. I also block out specific time periods on my calendar for the week’s top priorities.

Each of my clients’ files also have outcome-based priority lists. These are reviewed and revised whenever I work on my clients’ books.

When time runs short, I know exactly what needs to be accomplished and when. I evaluate which details matter and which ones don’t. Then work in high gear only on the tasks that matter and let go of any other details so projects are delivered on time. This results in truly excellent service that is ALL billable.

How will being an excellence-focused perfectionist affect your bottom line?

By channeling your skills as a perfectionist toward the pursuit of excellence, you will see a dramatic increase to your bottom line! You will be concentrating your efforts in a way that will not only boost your self-esteem, but also your profits and reputation.

What action will you take starting this week to use your skills as a perfectionist to build a freelance bookkeeping service focused on excellence?

I want to hear from YOU! Commit to a healthier bottom line (by making a comment below) :-)

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~Gabrielle

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Inspiration for Excellence

In a discussion about the vast distinctions between Perfectionism and Excellence, Jeff Baas of One Stop Web Support penned these inspiring contrasts which I’ve excerpted below to help us all stay on the road to excellence without getting tangled up in perfectionism:

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PERFECTIONISM is the fear of being wrong.
THE PURSUIT OF EXCELLENCE is the willingness to be wrong and to learn from it.

PERFECTIONISM is seeing any effort that doesn’t turn out exactly as planned as failure.
THE PURSUIT OF EXCELLENCE is seeing any effort that doesn’t turn out exactly as planned as a valuable opportunity to refine the plan and make it better.

PERFECTIONISM is fear that others might think you don’t measure up.
THE PURSUIT OF EXCELLENCE is a desire to be the best you can be.

PERFECTIONISM is staying stuck in anger and frustration.
THE PURSUIT OF EXCELLENCE is growing beyond where you ever expected to grow.

PERFECTIONISM is confining.
THE PURSUIT OF EXCELLENCE is freeing.

PERFECTIONISM is conformity to presuppositions.
THE PURSUIT OF EXCELLENCE is exploring new possibilities.

PERFECTIONISM is self-doubt.
THE PURSUIT OF EXCELLENCE is confidence.

PERFECTIONISM is closing yourself off.
THE PURSUIT OF EXCELLENCE is opening yourself up.

PERFECTIONISM is remaining right where you’ve always been.
THE PURSUIT OF EXCELLENCE is a journey of discovery.

PERFECTIONISM is fear.
THE PURSUIT OF EXCELLENCE is trust.

PERFECTIONISM is the fear that something unpleasant will come from our efforts.
THE PURSUIT OF EXCELLENCE is an excitement over the improvements that we will help discover.

Jeff Baas is a website guru and Internet marketer who knows the challenges new business owners face (with perfectionism being only one of them). He has a new special report for anyone starting a business who wants to avoid the #1 business-killing mistake so many of us make. It’s free. So if you’re just starting out with your freelance bookkeeping service, you’ll want to get your hands on this helpful information right away.

Click Here to get your free copy now ==> Going From Employee to Entrepreneur