Gene Marks, a certified public accountant and owner of The Marks Group PC, a technology and financial consulting firm, shares his insights into the habits that have propelled his small tech consulting firm to success over the past two decades. While not promising instant billionaire status, Marks affirms the effectiveness of these nine tried-and-true habits that have contributed to the growth and profitability of his business. As 2023 comes to a close, Marks reflects on these habits, ready to carry them forward into the challenges and opportunities that 2024 may bring.
Rise and Shine at 5 am: The Power of Early Mornings
For Marks, the day begins at 5 am, a habit he attributes to heightened productivity during the early hours. Free from distractions, he dedicates this time to focused, deep thinking and strategic planning, setting the tone for a day of purposeful action.
Master the Math: The Importance of Accounting
As a certified public accountant, Marks emphasizes the significance of understanding the numbers in running a business. Successful entrepreneurs, he argues, closely monitor sales, cash flow, job costs, and margins. Acknowledging the pivotal role of math in business, Marks ensures a disciplined approach to financial management.
Face-to-Face Connections: The Value of Client Visits
In an era dominated by online interactions, Marks remains a proponent of in-person meetings. Recognizing the power of human connection, he believes that face-to-face encounters foster stronger client relationships and contribute to sustained success in the business world.
Continuous Learning: Reading, Listening, and Growing
Marks emphasizes the importance of a well-rounded education, advocating for a mix of fiction, business, history, and biography books. Additionally, he emphasizes the value of podcasts, using them to stay informed, inspired, and entertained while navigating the complexities of entrepreneurship.
Prioritize Physical Health: The Entrepreneur’s Exercise Regimen
For Marks, staying active is non-negotiable. Whether engaging in a game of squash or cycling, he recognizes the critical role of exercise in maintaining both physical health and mental balance. Breaking from routine, these activities serve as a rejuvenating force in the middle of the day.
Embrace AI: A Strategic Approach to Technology
Acknowledging the transformative potential of artificial intelligence (AI), Marks commits to integrating AI into his technology strategy. By delving into CRM and accounting software, he aims to leverage AI tools that can enhance efficiency and productivity, recognizing the importance of staying ahead in the fast-paced world of technology.
People First: A Focus on Team and Relationships
With a small team of around ten employees and contractors, Marks emphasizes the significance of personal connections. Regularly engaging with his team, understanding their concerns, and ensuring fair compensation and benefits are integral to maintaining a loyal and motivated workforce.
Tax Planning: Strategizing for Financial Success
Despite being a CPA, Marks wisely entrusts his taxes to an expert. He acknowledges the evolving tax landscape and its impact on his business, highlighting the importance of proactive tax planning to minimize liabilities and sustain financial health.
Family Matters: Balancing Work and Life
Amid business priorities, Marks underscores the importance of family and support systems. Successful business ownership, he notes, is intricately tied to the backing of family, friends, neighbors, and the broader community. Enjoying family moments is a non-negotiable part of his entrepreneurial journey.
Photo: Unsplash
