How to build an accounting/bookkeeping 6-7 figure firm that’s highly automated and doesn’t require to work an insane amount of hours?
So full disclosure, I am not in the only work x amount of hours per year group. I work. A LOT. I choose to wear a lot of hats. That fits me. But it’s possible.
We do tax planning and some of our plans can net six figures. I’d say the average tax plan is around $40-50k, then the maintenance is anywhere from $1,000-$1,500 per month. So if you only land 30 clients, you only work on 1 each day of the month (so call it 10 hours a week) you could clear $300k on just the recurring work, and not even sell any tax plans. That would be a one man shop.
If you learn the correct techniques, they clients begin to find you. But it doesn’t happen overnight…
Save a taxpayer $1k, They tell a friend and you save them $5k. Then their boss calls and you save him $15k, he tells the CEO and you save him $100k and you get your first $25,000 tax plan sold. The CEO tells all his friends. You go on vacation…..
Your skillset will grow with each step up in demand and you learn new techniques. I’m on pace to close and collect on $300-$400k of tax plans in December. That was about 50 strategy sessions via phone. It’s been a very busy November, but lots of happy new clients.
Scott Fedyshyn is the owner of Fedyshyn CPA Group PLLC, a Certified Public Accounting firm that specializes in tax consulting and income tax management for mid to high net worth individuals, retirement planning and wealth creation..