How Accounting Professionals Can Create Better Productivity And More Profits-The Top 10 Fab Tips

As service professionals in the accounting industry, it is so very common for us to be working 60+ hours a week trying to sort out our clients business and personal finances.

Our clients need our help so badly and sometimes so quickly, that we are jumping from here to there, from project to project to try and finish their work.

This usually ends up with us working harder and longer and results in poor performance and a big loss on the job.

Here are our 10 favorite tips for creating better productivity and more profits in my business:

1. Get a diary or a notebook. When anyone calls to hire you for that audit or financial project, write it down. If it’s a notebook, include the date, name and phone # of the person calling you.

1. Set one or two days per week for meetings and interviews with clients. Any other day, you are not available!

1. Do only high payoff activities. Look at what is generating you money. When I looked at my P&L statement for the previous year, I noticed that audits had moved up quite a notch in my revenue. Interesting… I decided I only wanted a few retainer clients. These are clients that we do accounting work for, reconciliations, financial statements, etc. Audits for small biz clients, on the other hand, are where the money is. The returns on this type of work are highly profitable.

1. Take time off. When you’re working on figures, your brain gets tired. It’s important to take your week-ends off or take vacations more often to recharge.

1. Have only 2 days per month focusing on your bills and out-goings. The rest of the month, your main focus is to generate revenue for your business.

1. Become the CEO in your biz now! This may be hard as you spend your days pouring over clients books and records.

1. Hire a part-time assistant or a virtual assistant to field your calls. Answering the phone takes up so much time in your day and keeps the distraction high!

1. Start working with sub-contractors that know about accounting or finance so you don’t have to train them. Hire students to come in during the summer to handle the book-keeping and the arduous task of number-crunching then you review what they’ve done and finalize.

1. Start focusing your time and energy on more affluent clientele and people who are willing and able to pay you what you want.

1. Make a list of what you intend to accomplish each day and each week. I truly believe in the power of intention. What you intend most often happens. Your brain will find all sorts of ways to achieve your intention.

Try some of these tips and let us know how you get on!

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