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Here are Bare Minimum Goals for Accountants

When people are setting goals, one of the biggest problems is that they set these goals, but if they’re too pie in the sky, then you’re never really attached to it. So, let’s talk about goals for accountants. If somebody starts the business in November and they’re like, I want to do a million in sales this year, you’re like, well, we’ve got six weeks left. Let’s figure this out. Do some mathematics on the number of hours left. There are people probably that have started a business in November, done a million in sales in that same year, but maybe it’s not as likely. Then I remember I had one woman that I talked to years ago and she said she was making $75,000 at her job and wanted to do a $100,000 in sales in 2024, I think she was 2023. At that time, it was a five year goal.

That is such a ridiculously far out goal, and so low. Doing $75,000 a year job right now, you don’t want to do a $100,000 in sales in five years. So what do you have to do right now? We’ll have to do stuff because you can wait and then one month passes. It’s now one more month later. Well, what do you have to do then? Nothing, you have four years and 11 months, then another month, four years and 10 months…in another month, four years and nine months.

Then four and a half years pass you got to get it together in three months. So, if a goal is so far detached, it doesn’t make sense. For those of you guys that are in here who already have a business, one of the most powerful numbers I like looking at is what is your capacity to onboard? How many clients can you onboard a week.

Goals for accountants should never be less than that. If that’s what you can onboard, why would you have a goal that’s less than that from a revenue growth perspective, why would it be lower? So when everybody put down right now, how many tax plans can you onboard on a monthly basis? How many monthly clients or whatever other key service you have, how many can you do now? 

I will say that if you can’t do at least two tax plans a week and one monthly accounting client a week, then we’ve got to work to get to that. That’s what I want to get to as your capacity to onboard, but put down whatever that is. How many tax plans can we do a week? How many monthly clients can we do a week?

What I want to see is a minimum of two tax plans a week and one monthly accounting client per week. And you’ll see why,  we’re going to go through the numbers here in a second and why that’s important because that’s just the first and that second service right after the tax plan. So that’s the minimum I want to see no matter where you’re at in sales right now, for anybody in this group.

Then take those numbers, for example,  let’s say two tax plans a week and you can do more than this. Some people do more than this. Two tax plans a week and then one monthly client, and then multiply that times 50 weeks. So, 2X50=100. That would be your capacity, right? Assuming you didn’t increase capacity throughout the year, you didn’t lose any clients, just do the math on that. If you have a different ability to onboard and then you can take that times your average…and we’re going to go through setting goals in the dashboard later today. 

But this is a good exercise. When thinking about goals for accountants, I always think about whatever your revenue goal is for next year, it shouldn’t be less than that. Some of you guys are at $750,000. YouI just want to do $850,000. You do this math. Bigger numbers are going to pop out than $100,000. I’ve never had anybody give me a good argument for why your goal should be less than your capacity. I can’t figure that out. So these are your numbers, this is your capacity to onboard. There’s just 50 weeks in a year. That should be the bare minimum goal.

 

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