Stop “non-profit” tasks and start making more money in your practice.
By Sandi Smith, CPA / Exclusive to CPA Trendlines
Let’s do the math. To earn a million dollars in a year, you have to bring in $83,333 per month. Assuming you bill hourly and work for the standard 1,000 billable hours per year, you need to charge $1,000 per hour. If you want to make five million in one year, you will need to charge $5,000 per hour.
Here’s some breaking news: You won’t get there doing tasks that are worth $10 per hour. Even if we drop a zero and aim for six figures in a year, you won’t get there doing $10 per hour tasks either. At six figures, you’re worth $100 per hour.
More for soloists and small firms from Sandi Smith at CPA Trendlines: 5 Mistakes to Avoid When Seeking New Clients • The Top 12 Business Card Blunders Accountants Make • Seven Tips to Keep the Clients You Have • How to Attract Clients Like a Magnet • Eleven Easy Ways to Deliver More Value to Clients • Five Things Accountants Take for Granted That Costs Them Revenue• What’s in Your New Client Funnel? • What’s In Your Welcome Kit for New Prospects? • Five Fun and Easy Ways to Wow Your Clients • Six Ways to Give Yourself a Raise • Strategies to Stop Losing Business to Competitors • Five Tips to Manage Your ‘Overwhelm’ Level • Easy Ideas for a Quick Business Boost • Four New Mega-Trend Marketing Strategies • How to Stop Leaving Money on the Table
The difference between poor people and rich people is simple: one values the scarcity of their time and uses every minute wisely, and the other doesn’t.