Operational bottlenecks are one of the most common but overlooked problems that accounting firms face. As firms grow, complexity increases, teams expand, and processes begin to break down—unless there are systems in place to manage them. In this episode of Building the Premier Accounting Firm, Roger Knecht is joined by Jen Hamilton, a seasoned Fractional COO, to break down how firms can identify and eliminate operational obstacles that hinder growth and profitability.
Whether you’re a solo CPA or managing a multi-person team, this conversation will help you better lead, scale, and optimize your accounting practice.
Meet the Expert: Jen Hamilton, Fractional COO
Jen Hamilton is the founder of Hamilton COOs and a former CPA who began her career at PricewaterhouseCoopers. While her roots are in accounting and auditing, Jen’s real passion lies in operations and leadership. She brings a rare blend of financial acumen and team-building skills, honed through years of consulting in both the business and education sectors.
“I really enjoyed the opportunity I had to grow my team, help them be efficient, train them well. Seeing them successful really was something that got me very, very excited,” Jen shares.
As a Fractional COO, she helps firms structure their operations, manage people more effectively, and create systems that drive long-term success.
The Real Cost of Inefficiency: Why Operations Matter More Than Revenue
While many firms focus on driving revenue, Jen and Roger agree that the key to sustainable profitability lies in operations.
“Revenue is vanity. Profit is sanity,” says Roger, emphasizing that operational efficiency—how well your team works and how streamlined your processes are—is where true profits are realized.
Jen adds, “Your main expense is your team. So unlike manufacturing, where you make the machinery work more efficiently, here it’s about having your team be more productive.”
Focusing on operations, especially as firms grow, helps eliminate waste, reduce burnout, and increase client satisfaction.
Team Motivation as a Profit Driver
One of the most insightful segments of the episode revolves around team motivation. Jen highlights that leaders need to understand what personally drives each team member, whether that’s time off, financial rewards, recognition, or altruism.
“It’s just like marketing,” she explains. “What does your team care about? Just like you would ask your client, ‘What’s the goal they want?’”
Roger categorizes motivation into four main types:
- Time – Individuals value flexibility or days off
- Money – Financial incentives resonate
- Recognition – Appreciation and public acknowledgment matter
- Altruism – A smaller group, driven by mission and meaning
Understanding these drivers allows firm leaders to better structure incentives, avoid burnout, and retain top talent.
Warning Signs: When It’s Time to Fix Operations
Many accounting professionals find themselves overwhelmed as they add new clients and team members. Jen points out that operational issues often start small but compound over time.
“When you feel like, ‘I don’t know what’s happening with my client,’ you’re missing metrics. You’re missing some check-ins or reports to just understand what is happening,” she warns.
From missing KPIs to inconsistent service delivery, these are signs that it’s time to formalize your processes using SOPs, metrics, and team accountability tools.
How to Regain Control Without Micromanaging
Delegation is essential, but letting go too much can lead to drift. Roger shares how, after stepping back, he discovered some delegated systems had gone off track, losing their original intent.
Jen recommends the “trust and verify” approach: have regular check-ins, recalibrate, and engage your team with curiosity instead of criticism.
“Even if they’re proposing a new process, ask, ‘Tell me more—why is this the current process?’” she advises. “You might be pleasantly surprised they’re doing something you wouldn’t have thought of.”
Top Bottlenecks to Eliminate Today
Jen identifies three critical types of bottlenecks every accounting firm should evaluate:
- Centralized Decision-Making – When too many decisions must go through a single leader, it slows everything down.
- Poor Handoffs – Friction arises when tasks move between departments, such as sales to service or service to billing.
- Duplication and Accountability Gaps – Either multiple people are doing the same work or no one knows who’s responsible.
These inefficiencies drain productivity and lead to missed client expectations.
Roger adds that one way to spot bottlenecks is by stepping away from the business and seeing what breaks in your absence. “Leave for a day or a week,” he says, “and when you return, take note of what couldn’t move forward without you.”
Developing Emerging Leaders in Accounting Firms
Jen explains that many professionals are promoted based on technical ability, but leadership requires a completely different skill set. Without intentional training, new leaders may struggle.
“It’s a misnomer that just because I was good at doing this means I can teach someone to be good at this,” she explains.
She recommends mentoring, investing in soft skills development, and creating intentional leadership pipelines within firms. Quarterly conversations and clear expectations can accelerate leadership growth.
Six Operational Focus Areas for Long-Term Success
Jen wraps the discussion by introducing her six core operational pillars that every firm should focus on:
- Strategic Planning – Set clear annual and quarterly goals
- Leadership Alignment – Ensure leaders embody the firm’s mission and values
- Team Accountability – Define roles, track performance, and align team goals
- Client Experience – Deliver consistency and occasional “wow” moments
- Cash Flow and Profitability – Focus on high-margin services and client efficiency
- Revenue Development – Monitor conversion rates and adjust marketing based on performance
“If you have those things strong in your operations, you can weather all storms and grow,” Jen states.
Final Thoughts
This episode is packed with insights for accounting professionals ready to optimize operations, empower teams, and grow profitably. From motivation strategies to systematizing success, Jen Hamilton delivers a roadmap any firm can follow.
To get all these insights and more, listen to the full episode of Building the Premier Accounting Firm and take the next step in optimizing your firm.
Offers:
Sign up to attend Jen’s free monthly CEO & COO roundtables to learn from other professional services firm owners and leaders and share practical ways they have used to overcome common challenges in running a firm. Sign up here: https://www.linkedin.com/company/hamilton-coos/events/
They have amazing discussions and education around how accountants can live their values through their work, creating and being the change you want to see in the world. All of their offerings are free.
Get a FREE copy of these books all accounting professionals should use to work on their business and become profitable. These are a must-have addition to every accountant’s library to provide quality CFO & Advisory services as a Profit & Growth Expert today:
- “Red to BLACK in 30 days – A small business accountant’s guide to QUICK turnarounds” – This is a how-to guide on how to turn around a struggling business into a more sustainable model. Each chapter focuses on a crucial aspect of the turnaround process – from cash flow management to strategies for improving revenue. This book will teach you everything you need to become a turnaround expert for small businesses.
- “in the BLACK, nine principles to make your business profitable” – Nine Principles to Make Your Business Profitable – Discover what you need to know to run the premier accounting firm and get paid what you are worth in this book, by the same author as Red to Black – CPA Allen B. Bostrom. Bostrom teaches the three major functions of business (marketing, production and accounting) as well as strategies for maximizing profitability for your clients by creating actionable plans to implement the nine principles.
- “Your Strategic Accountant” – Understand the 3 Core Accounting Services you should offer as you run your business. help your clients understand which numbers they need to know to make more informed business decisions.
- “Your Profit & Growth Expert” – Your business is an asset. You should know its value and understand how to maximize it. Beginning with the end in mind helps you work ON your business to build a company you can leave so that it can continue to exist in your absence or build wealth as you retire and enjoy the time, freedom, and life you want and deserve.
Learn what it is you can do to become an author, leveraging your expertise to market your services effectively and get the clients you deserve. This is a webinar you don’t want to miss. Learn from Mike Capuzzi what a Shook is and how you can use it to position yourself as the Premier Accounting Firm in your area. This is a must-see presentation so get ready to take some great notes.
In addition to becoming an author, see what you can do to follow the Turnkey Business plan for accounting professionals. After more than 40 years we’ve identified the best practices of successful accountants and this is a presentation we are happy to share. Check it out and see what you can do to be in business for yourself but not by yourself with Universal Accounting Center. It’s here you can become a:
Next, join a group of like-minded professionals within the accounting community. Stay up-to-date on current topics and trends and see what you can do to also give back, participating in relevant conversations as they relate to offering quality accounting services and building your bookkeeping, accounting & tax business.
- The Accounting & Bookkeeping Tips Facebook Group
- The Universal Accounting Fanpage
- Topical Newsletters:
Lastly, get your Business Score to see what you can do to work ON your business and have the Premier Accounting Firm. Join over 70,000 business owners and get your score on the 8 Factors That Drive Your Company’s Value.
For Additional FREE Resources for accounting professionals check out this collection HERE!
Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don’t want to miss.
Remember this, Accounting Success IS Universal.
Listen to our next episode and be sure to subscribe.
Also, let us know what you think of the podcast and please share any suggestions you may have. We look forward to your input: Podcast Feedback
For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777
