Practice Sin 2 – Underinvesting in Personal Professional Development & Training

Too many practice principals do not take the advice of Stephen Covey (Seven Habits of Highly Successful People) and spend the time to ‘sharpen the saw’. Most practice principals meet the Tax Practitioner Board requirements of thirty hours accounting and tax training per year but that is often the limit of their personal professional development.

The professional development underinvestment occurs in the areas that are most important and critical to practice principals, that is: practice management, marketing, profit improvement, customer service, innovation, and change management.