A Common Them:
I have met so many people, so many people that are doing accounting. Think about it like this:
You can go out and grow your business.
I met a woman the other day and she did a million a year in sales.
You say, wow, Andrew, if I did a million in sales, I’d be happy. I’d be free. I would enjoy my life and everything.
But she did a million a year in sales and she had 5,000, 1040 individual tax returns.
She had 5,000 clients.
Heavily seasonal business.
Very, very low fees.
Things like that…
She had so many people, she also had 26 employees.
Some part time, some seasonal, some full time…
After all that, even though she’s doing a million a year, she made less than $100,000 a year and frankly should probably be better off taking a job.
A lot of people think, “Oh, I don’t need sales.”
Think of it as revenue.
Sales is such a trigger word.
Think of it as revenue.
You need some revenue. I don’t want sales. Sales is dirty.
I don’t want sales.
You want revenue?
I want revenue.
Everybody wants to look at the income statement.
What’s right at the top of that thing? Revenue.
Everybody needs revenue.
The problem is in this situation…
What I’m gonna talk you through is when you have that conversation with a potential client, you get them to commit to working with you.
Are you actually getting as much out of it as you possibly can?
Are you getting a good deal?
Is the pricing right?
Is this someone you even want to work with?
Do they have the right attitude?
Are they grateful for your services?
They grateful for your time?
Do they see it’s worth it?
So we’re going to be going through all these questions today so we don’t end up in a situation like this…
The reality of the situation is you want to try to do a million a year in sales, with something like, 250 clients.
You want to have only about 250 clients.
Now imagine having a business where you had 250 clients and you had 4 employees working for you and you net $500,000 a year…
You could be doing that doing tax planning.
Could be doing that doing monthly accounting.
The point is this…
You’ve got to be very intentional about what you’re doing.
When you go out and you talk to potential clients…
Are you signing up clients in this range where you’re getting a good deal out of it.
You’re taking as much revenue out of that potential client situation as possible…
Or do you always go for the bottom?
Do you do $200 a month, $300 a month, $250, 1040 tax returns, $500 business returns?
You know you’re all over the place right now.
I’m not talking about averages.
I know what the averages are for business returns, individual turns, monthly accounting.
I don’t care about the averages because I don’t want average and above average for anybody on here.
Don’t want to look at the averages.
Look at the client’s situation.
You want to look at what can they actually afford to pay.
The reason that you’re here today is because you don’t want to end up here making $1,000,000 a year and actually only taking home $100,000
Making $1,000,000 a year and taking on $500,000. All of that.
All of that has to do with, what is the quality of my revenue?
What is the quality of my revenue?
They’re doing the same revenue.
The big thing we’re going to talk about today is not how can I make a sale because anybody on here, I can help you make a sale in the next week, 100%.
I can help you make a sale in the next week, but I could probably help a lot of you make a sale today. But the real question is, are we going to bring in quality deals? Are we going to be negotiating quality for what we’re doing? Are we going to be getting a high fee, light service delivery, and a lot of profit margin? Or are we going to be getting a low fee? Low fee, lots of work and no profit margin…