You Have to be SPECIFIC

by Andrew Argue in Getting A Job Comments (0)

If you’re growing a good business in this industry, doing these types of services with the right pricing and the right fees, this is what you need to be thinking about.

At $250,000 in sales, we need to have zero team members, which means zero employees and zero contractors.

This is revenue. Zero team members and we need to be at 70-80% profit margin.

Think about that. Revenue. Team members. Profit margin.

If you’re not hitting these numbers, then something’s wrong.

Maybe pricing is too low. Are we charging less than $1,000 a month on the accounting?

Are we charging less than $2,000 on the business returns? What are we doing?

Are we not piecing out the different services?

Are we lumping in AP with monthly accounting and with CFO work?

Are we lumping in the tax planning with the tax prep? You’re not breaking it out enough?

Maybe that’s why.

$500,000 in sales, you should have 1 to 1.5 team members including yourself in addition to that, and the margin should be 60-70% percent.

And at a million plus, I really want to see 3 to 3.5 team members. And I want to see really anywhere from 40-60% margin, somewhere in that range.

That’s what is possible guys.

But if you’re not negotiating good deals, if you’re not selling the right way, if you’re not closing, if you don’t have the right price……I see people that have 26 team members. I got a client recently, she signed up with us…..26 full time employees. I think some are part time, I’ll cut her a break on that. ….

26 employees, a million a year in sales.

She was not even making $100,000 taxable income.

She made it to a million, but she wasn’t specific enough.

She should have said, I want to make a million a year with these margins.

You’ve got to be really specific.

Because you can hit a million a year doing a 1040 business and be living in a hell in a hand basket.

It’s not going to be fun. So this is what I’m talking about.

With that in mind, what kind of pricing do you need to have to get there?

We’re going to go through this in detail.

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Budgets Do NOT Exist

by Andrew Argue in Getting A Job Comments (0)

Cody says, “In a strategy session yesterday, I asked the client what his budget was for accounting and he told me he wouldn’t tell me because that gives everything away. Any thoughts on a better way to communicate the information on how much they’re paying for accounting needs?”

Guys, they don’t have a budget.

Business owners don’t have a budget. There’s no budgets.

There’s no such thing as a budget.

I know people like to say that you’ve got to have a budget, but in business you don’t really have a budget.

Personal life, you kind of need a budget because you can just get out of control consuming s***, right?

Personal life, budgets are important. Don’t want to consume too much stuff and you want to be making a lot more than you’re consuming.

Business…..The thing about business is, if you pay money for something or you put your energy into something, you can make more money.

That’s an investment.

So a business owner has a budget, they write a perfect budget….Then they see a situation or they see an opportunity to put something in to make more and they rewrite the budget.

They rewrite the budget to close the deal.

So you never need to ask about the budget.

I don’t think I ever saw that, Cody.

Where was that question in the script about asking about the budget? Was it in there?

I don’t think it was in there. Somebody’s probably going to be like, it was in there.

I don’t think I would have put that in the script.

I put a lot of questions in the script, but I don’t think I would’ve put in the script to ask for the budget because they don’t have a budget guys.

There is no freaking budget.

And it shouldn’t be a question that’s asked.

Because if there is a budget, it should be rewritten and it should go up because we’re proving that there’s some value that we’re bringing to the table.

There’s some way we’re going to help them that’s going to cause them to make more money.

In that case, even if there was a budget, they rewrite it.

You don’t need to know the budget.

What you can ask them is what are you currently paying your accountant?

You can ask them that. Just ask it directly.

 

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To Be Successful In The Accounting Industry…

by Andrew Argue in Becoming An Accountant Comments (0)

To Be Successful In The Accounting Industry…

The number one skill people need in this industry to be successful is the ability to problem solve…

To figure out what problems exist and how to solve those.

It’s the greatest opportunity to work with clients by understanding their problems, understanding their situation and how to solve those.

We’ll use the tools of accounting to figure out those problems…

To measure the problems…

Then we can see improvement.

It’s a tremendous opportunity and the best skill set to have in this industry.

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What’s It Like Working With Andrew Argue?

by Andrew Argue in Becoming An Accountant Comments (0)

What is it like working with Andrew?

Like many of you all, I had some hesitations when looking at the advertisements or reading blogs or the website…

One of the things almost immediately that I knew about Andrew, however, is that

I respect him…

When I started the program, I was just absolutely blown away at how ingenious the tools, techniques, and real-life application of your mindset, and your business practice play into whether you’re successful or not.

One of the things I also love about Andrew and the team with this program is the work on the mindset…

Keeping positive energy and putting your best foot forward with minimal to no excuses.

I often joke with Andrew that he could be your best friend or your worst enemy depending on your situation or the issues that you’re presenting to him.

I mean that in a positive way because sometimes we need people to push us out of our comfort zone…

Especially those that have been in the accounting industry for a long time.

These are people that have built really successful reputations, have moved up the ranks and were not necessarily used to people pushing them out of that comfort zone or pushing new ideas or concepts that perhaps they haven’t been introduced to before.

It’s a set of fresh eyes.

It’s a welcome challenge, and it’s been fantastic.

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Haters Gonna Hate!

by Andrew Argue in Becoming An Accountant Comments (0)

Your reputation is everything… we have all heard this before.

I think people that people misinterpret that sometimes.  People mistake that your reputation is important with trying to get everyone to like you.

If everybody likes you then you’re not really doing anything of substance…

Anything that’s moving the needle…

Someone is going to be against it because there is always somebody with an opinion out there.

I used to be afraid of people having negative or critical thoughts about me and that went on for years because I wanted to protect my reputation.

When I first started to become really successful in business, I realized that people just don’t remember stuff…

They really just do not remember anything.

You can’t worry too much if you have an awkward interaction with somebody or if somebody is upset with you because they’re not going to remember it.

Especially when people have never met you or never talked to you…

People have never actually had a discussion with you and they dislike you…

It says so much more about them than it does about you.

Whenever somebody gets so worked up and so triggered about what you’re trying to do, whether you’re trying to be successful in business or you’re trying to be successful in some sort of art form or in sports…

These people don’t really care about you…

This is their own issue that they’re dealing with when they’re talking about these things.

They’re telling you what they tell themselves.

Everybody’s got some form of competition for what they’re doing…

But, there really is no need to put other people down, whether it’s your friends, your family, your competitors, it really doesn’t matter.

They’re totally consumed with you…

The trick is that you just shouldn’t be consumed with them.

Somebody told me once that often you’re the topic of people’s conversations, but you don’t even know who they are.

Why even care?

Even if you do know who they are…

Even if you’re the topic of their conversations…

Just don’t let them be the topic of yours.

Stick to what you’re doing…

Keep your head down…

Keep doing great things…

And eventually people forget about it and move on and they’re there.

In the long run, nobody remembers people like that…

Nobody remembers what those people did…

They just sort of drift off into eternity, like an arrow going into a pond, barely slipped through with not even a ripple.

And it’s completely forgotten about.

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What is True & False About the Stereotypical Accountant?

by Andrew Argue in Becoming An Accountant Comments (0)

A lot of people think of the stereotypical accountant as an accountant sitting at a desk…

Maybe in a not a well-lit room…

With a visor on…

Going through paperwork and analyzing numbers…

The only part that I think is true is the detail orientation and the attention to numbers.

Now I don’t think there is so much as a stereotypical accountant, at least it doesn’t need to be.

You can see in the AccountingTax.com group that there are introverts versus extroverts…

There are detail oriented people, there are not very detail oriented people…

There can be a lot of different personalities.

The key is the desire to help the client, a desire to solve problems for the client and help them create wealth and grow their business.

So that’s the focus which has changed from just transaction processing.

The value isn’t in just processing transactions…

It’s taking it past that and helping our clients.

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Want to learn more?

Visit: https://andrewargue.com/training

Website: https://www.andrewargue.com/

Facebook URL: https://www.facebook.com/andrewargueiv

Twitter URL: https://twitter.com/andrewargue

LinkedIn URL: https://www.linkedin.com/in/andrewargue/

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Where Do You See The Future of Accounting Headed?

by Andrew Argue in Becoming An Accountant Comments (0)

When I think about the future of the accounting profession, I think of how the college barriers are really coming down and especially nowadays where you’ve got so much information and access available to you on the Internet…

You can find out how to succeed and how to do so many different things, just in the click of a button.

We really don’t need that many barriers put up for people to be able to succeed.

When we think about the future of the accounting profession, the biggest thing is the amount of time that it takes someone to be successful doing this career is going to shorten greatly.

Many of the daily accounting tasks are automated now. All these reconciliations are coming through in a completely automated manner and so the process of doing accounting is largely being improved by software technology, the Internet, and machines.

It becomes something that you can learn about a lot easier because you can go online and learn some of the best things ever that back in the day in the eighties and nineties, you know, whatever was in a university would have been crap compared to some of the stuff that’s on youtube or that’s in our programs.

The information is out there which allows you to learn a lot quicker…

The technology is out there so we don’t have to actually do as many things…

The future of the profession is going to be one where people can succeed quickly, they don’t have to wait tons and tons of years and it can be much more effective in a shorter period of time.

With the right training, with the right community, with the right background in a very short period of four to six months or a year, someone even with no traditional experience in accounting can learn the right things to compete with absolutely some of the best people in the industry.

I didn’t always believe that this was the case.

I used to think that you need to have a degree. You need to have a CPA. That’s why I went on the traditional career path.

But really after meeting with thousands of people that are running their own accounting firm, I’ve learned that’s simply not the case.

We’ve got people that have come through that don’t even have a high school degree, college degree and they’re doing almost a million a year on their accounting firm.

It’s really about…

Do you have what it takes?

Are you willing to learn what you need to learn right now to get the transformation that you want to be?

If you’re willing to learn, it doesn’t matter where you came from.

All that matters is if you’re willing to do the work and you’re willing to do what it takes to succeed.

You don’t have to go the traditional career path, and I really think the future of the industry is one where it’s democratized.

It’s much more flat.

Anybody can join and they can do it very, very quickly if they’re willing to do what it takes to succeed.

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Want to learn more?

Visit: https://andrewargue.com/training

Website: https://www.andrewargue.com/

Facebook URL: https://www.facebook.com/andrewargueiv

Twitter URL: https://twitter.com/andrewargue

LinkedIn URL: https://www.linkedin.com/in/andrewargue/

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What Is The Best Part Of The Next Level Firms Program?

by Andrew Argue in Becoming An Accountant Comments (0)

The best part of the Next Level Firms Program is the training material.

There is nothing else out on the market where you can start watching immediately and you could start seeing results fairly quickly.

As soon as you start implementing some of the training, you can start to see growth not only in yourself but in your business.

If you are thinking about joining the Next Level Firms Program, I would say that it’s more about…

Are you ready to invest in yourself and are you ready to do whatever it takes to get the results that you want?

This is a Program that is going to allow you to do that.

If you’re going to sit back and be indecisive or dibble dabble…

That’s one of the things that we confront you on.

Your time to start dibble dabbling was two years ago.

Now, you need to get to work.

The opportunity in Next Level Firms Program is so good that it tells you what you need to do and then we question you on why you’re not doing it.

That’s what I think is really cool about watching the community and see clients say…

“I know what I need to do. I’m just going to do it.”

We’re all there for support to help you achieve those goals that you’ve set out for yourself.

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Expert Spotlight: Tosha Anderson

by Andrew Argue in Getting A Job Comments (0)

My journey in accounting started a little unexpectedly…

I was in college and I was minoring in Spanish and a major in international business, then  9/11 happened and all of a sudden there were no jobs for anybody.

I realized all of the accounting majors were getting sign-on bonuses and jobs right before college…

I went to an incredibly expensive private school with a lot of tuition that I had to pay back and no idea how to pay that back…

I took accounting classes in high school and I was pretty good at it and I never really found myself great or good at anything, but I found more and more that people were just complaining about accounting…

It’s so confusing…

It’s like another language…

I switched my major in college and finished that up. I went straight into public accounting, dabbled a little bit in construction, employee benefit plans, work with some manufacturing companies, some retail, and ultimately found my place in non-profit accounting.

I worked my way up to supervisor auditing non-profit organizations.

I then left after seven years to become a CFO of a nonprofit organization for about four years.

Two years ago I made the crazy jump into entrepreneurship and started my own accounting practice, specifically serving nonprofit organizations.

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Want to learn more?

Visit: https://andrewargue.com/training

Website: https://www.andrewargue.com/

Facebook URL: https://www.facebook.com/andrewargueiv

Twitter URL: https://twitter.com/andrewargue

LinkedIn URL: https://www.linkedin.com/in/andrewargue/

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Owning Your Own Business

by Andrew Argue in Getting A Job Comments (0)

I knew I wanted to own my own accounting practice several years ago…

I was an auditor on a public accounting firm and I had many clients reach out to me and asked me if I knew anybody that did accounting…

They needed an accountant…

They asked if there was anybody I would refer?

The truth is I didn’t have anybody…

I had nobody that I’d be willing to vouch for because I didn’t feel like anybody would do the kind of job that I thought the clients needed.

I got to the point where my efforts weren’t appreciated…

My expertise wasn’t being able to be shared as much as I would’ve liked to.

I wasn’t contributing in the way I wanted to…

I knew that I needed a better balance with my life.

I knew I wanted to be more creative in the work that I was doing and I thought I gained a lot of knowledge and a lot of efficiency in the accounting that I was doing before.

What would it be like if I took those practices and just replicated it time and time again and work with other organizations in the same way so that I can choose who I want to work with?

I can be much more scalable, much more profitable, and make more money than I ever thought I could.

I can have a better balance for my family and help those organizations that really need the help.

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Want to learn more?

Visit: https://andrewargue.com/training

Website: https://www.andrewargue.com/

Facebook URL: https://www.facebook.com/andrewargueiv

Twitter URL: https://twitter.com/andrewargue

LinkedIn URL: https://www.linkedin.com/in/andrewargue/

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