Our book “Double Your Accounting Firm: Lessons Learned on How Top Firms Grow Faster, Build Stronger Teams and Increase Profit” was released on Amazon. Hardcover copies will be available in the coming weeks. With this book, we plan to add even more value to your accounting firm besides just workflow processes.
- Page 52: Actual scripts to move clients into the more profitable fixed and value pricing model
- Page 89: Top 2 crazy good strategies to get new clients in your firm this month
- Page 136: Step-by-step process to meet and close new prospects (scripts and blueprint included)
- Page 220: Building out 6-figure profit centers this year to double your firm
The First Step to Double Your FirmTalking about workflow processes isn’t as “sexy” as getting clients, closing deals, watching cash pour in. Here’s the rub --- if you don’t have the workflows in place… You can’t bring in new clients without
- Chaos and overworked employees
- Hiring brand-new employees (fast and under-vetted)
- Work falling through the cracks
- Current clients getting neglected
- You will work day and night
- It’s not a priority. Accountants are always playing ‘catch-up’ and thus improving the processes and future-think gets pushed down the ‘to-do’ list again and again.
- It’s difficult to discuss as the conversations can get uncomfortable.
- It’s not fun. Doing tax returns and closing deals sound fun. Not worrying about workflow.
Double Your Firm by Doing Your Job!Suddenly...you have more time on your hands. You actually have a moment to plan ahead on how to grow the business. ‘Work ON the business...not IN the business.’ as the famous Michael Gerber says in his book, The E-Myth Revisited. If you have the time, it means you’ll also have more profits. Profits to invest or share the spoils with your team. (They’ll like that.). In order to get your team on track...you need distinct roles for everyone on your team to double your firm. You must create an ‘assembly-line’ mindset. In an assembly-line, every person has 1-3 jobs. And that’s it. There isn’t someone doing 500 things at once. That’s inefficient. The Exact Roles for Every Employee & Partner in Your Firm Instead, each position of your firm should have set duties. Partners have their role, managers, associates, then administrative. OWNERS/PARTNERS: Normally, Partners have worked in the industry for many years and are experts in the field. Hourly rates are normally over $200. Generally, a Partner should be focused on:
- Business Development
- High-level, High-ROI client work
- 60% business development
- 30% client work
- 10% team-building
- Client work
- Onboarding clients efficiently
- Training the system/process
- Quality client work preparation
- Touchpoints with clients
- Paperwork efficiency from team to client
- Sending out completed work and information to clients
- Answering phones
If you save a CPA 200 hours a year from admin tasks, at a base rate of $100 per hour, that’s $20,000 in additional revenues for the firm. Because the CPA will now be working on billable work. If you have 5 CPAs, now you’ve added $100,000 in revenues. Hiring an admin for $40,000 in exchange for $100,000 in revenues is a smart investment.Start with learning automation. In Chapter One of Double Your Accounting Firm, I go into much deeper detail on how to use these specific roles and turn them into a well-oiled machine. Your first order of business to double your firm is to pick up a copy of the book. Click here to get your copy. After you do, it really helps when you leave a review on the book. It’ll make it much easier for other accounting firms to find the book. It’s an easy way for you to pay it forward. Related Articles: