Efficiency is the key to increasing your profits. If you want to scale and onboard new clients – you need to optimize your workflows.
And the reason is simple. If you don’t do that, you might not have enough time to even look for those A-grade clients in the first place.
The good news is, there’s a lot you can do to optimize your efficiency. And as each of those positive changes helps make your firm more efficient, their results add up. With all the extra time on your hands, you’ll be able to finally look after those for whom you can do your best work.
And the best is, sometimes even a simple change can have a massive impact. Let me ask you a quick question here – do you schedule work in advance?
For some reason, most small to mid-sized accounting firms don’t do that. Naturally, you can’t know how much time each service for different companies takes.
But, based on your industry experience, you should at least be able to give a rough estimate.
Knowing the time required (even if it’s just an estimate), allows you to schedule your work and have a clear overview of your time allocation.
By doing that, you can see how much time you have left for new projects and plan ahead.
The beauty of this approach is that you can make it work even with a simple cloud-based calendar system. Just make sure that all your key team members have access to it – so that everyone is on the same page.
Naturally, ask them to estimate their work and synchronize the process with others. That way, everyone knows what to do and when.
The effective use of time is one of the things firms that earn >$1M profit per partner do (while they work less than 500 hours). If you’d like to read more about this in my book with the same title you can download a complimentary copy here https://www.robnixon.com/wealthydigital/