Chasing Growth: My 2025 Goals

As year-end approaches, it's always fun to reflect on what achievements were accomplished over the prior 12 months and set massive goals for the year ahead. I'm big on setting goals, taking action, and making shit happen. I've been setting goals for over 20 years now. Some of these goals have been realized (starting a business, meeting particular financial goals, etc.), while others I've either lost interest or could not achieve (completing an Ironman). Professionally, I have two main focuses: S&P CPA firm and P5 Publishing (book sales, Ask a CPA, and templates). Here is a bit of my thoughts on each:

S&P CPA

The firm has been my main focus for the past 10 years. It's grown exponentially in the past 3 years and will continue to grow if we can keep the team together, produce an excellent work product, and provide ridiculous customer service. Our professional network and reputation in the market have propelled our growth, with year-over-year growth exceeding 30% annually, which I'd like to continue into 2025. We've added several new employees, and I'm excited by the talent and level of knowledge the next generation brings to the team. Their willingness to dive into complicated projects, reach out to clients, and work together is really amazing.

Succession planning is where most firms fall short, so this year, I need to start thinking about the next 10 years and what I want the firm's future to look like. I enjoy the work, the people, and the team we've created, so I'm in no rush to sell the firm off or merge with a larger national firm, but we're getting larger every year, and we need to think about what having 50+ employees looks like and when it's time for the next generation to take over.

P5 Publishing, LLC

This year, I'm going to put myself out there more. Push past the embarrassment, put aside the doubt, and silence that little asshole that's deep down in each of us that makes us pause on pushing the post button. I've grown Ask a CPA into a decent YouTube channel and have received positive feedback along the way, but I know what needs to be done to move it to the next level. I need to post shorts regularly, create a podcast, engage with the audience, reach out to collaborate with other CPAs, etc. The book sales are promising, and I need to create and publish several more industry-specific books.

This can be the year where all my dreams come true...or I'll be looking back in 12 months having taken little to no action and be disappointed with the outcome.

I'll be breaking my goals for 2025 into three categories: Personal, Professional, and Financial.

So, here are my goals for 2025...

Personal Goals

• Establish a consistent morning routine (exercise, breakfast with kids, reading).

• Take a solo vacation or trip to recharge.

• Take two family vacations and two couple trips.

• Dedicate one evening a week to a personal hobby or interest. Golf, painting, reading, bowling?

• Improve physical health by lifting weights 3 times a week and walking 5 days a week.

• Strengthen relationships by scheduling monthly meetups with friends or family.

• Learn how to paint portraits by taking a class.

• Start blogging weekly. It doesn't have to be a complete manuscript, just thoughts documenting my progress and stresses throughout the year.

Professional Goals

• Grow S&P (CPA Firm) 30% topline revenue

• Read 12 business books, record a summary video for Ask a CPA, and send out five copies to business partners or clients.

• Build a stronger professional network by attending monthly industry events.

• Send out 200 introduction emails to clients/referral partners.

• Start the "Ask a CPA" podcast with Russell. Record 30+ episodes.

• Post two "Ask a CPA" shorts each week. 100+ shorts in 2025.

• Increase productivity by implementing better time management strategies.

• Delegate more tasks to focus on strategic decision-making.

• Mentor or coach junior team members - monthly 1on1 lunches.

• Write and publish articles or blogs to establish thought leadership and clarify thoughts.

• Attend at least two conferences or workshops to enhance expertise.

Financial Goals

• Save 20% of your income toward long-term investment goals.

• Aquire second rental property (long-term).

• Add a pool to the house.

• Create and stick to a monthly budget for the entire year.

• Pay off auto loans.

• Continue to grow my investment portfolio using a diversified strategy.

• Generate an additional stream of income through Ask a CPA.

In addition to goals, I always like to start the new year fresh. I clear out my email. Unsubscribe from everything I don't read. Review my spending habits and cancel any subscriptions I'm not using. I always download my bank activity for the year, review any liabilities, and game plan on how to pay them off as quickly as possible.

2025 is going to be a great year. It's now time to focus and make shit happen!