This post was originally just an email sent out to my list in the Summer of 2020. But I wanted to do an update and bring everyone on the journey. This is the first of a series of posts.
Also, I need to be transparent and let you know that some links are affiliate links which means if you buy, I may receive a small commission from the sale. This does not cost you anything. I only recommend products I 100% believe in.
This year, I started taking a course by The Workflow Queen: Kickoff With Asana for Bookkeepers and Accountants and was inspired to pick back up the book by Mike Michalowicz, Run Like Clockwork to start really taking workflows seriously. I’ve since re-listened to the book about 3 times.
When I started my accounting firm, I thought I would just be doing a little bookkeeping on the side. Soon it turned into wanting to create a business advising other small businesses and companies, as I found it difficult not to give high level advice--I may as well be charging for it. So about a year in, I started really thinking of my side hustle as a business. But I still wasn’t thinking of it running itself, or viewing it as an asset--until this past year.
So now I’m on this mission to make my practice run like clockwork so I can grow it beyond six figures, while only doing the parts I love, working part time. Why am I sharing this with you?
Because if you want your business to be a business and work for you, I think you’ll find this valuable.
Also, if you want to venture into advisory services, you have to implement systems first. This will help you get there. So let’s do this:
The optimal mix for a company is 80% Doing, and the rest a mix in the 20%. If you are a solo-prenuer, obviously that’s a lot of doing.
I was terrified about what my time analysis would look like before I finished adding things up, because I felt like I was doing a lot. Given that I have two part time bookkeepers, the percentage of my time doing should be less than 80% if the company as a whole should be at that 80% doing mark.
But before I get to the results of my time analysis, I figure I should share with you my goals.
Ok, let’s summarize that for ya.
So where do I currently stand?
So that’s currently less than 20 hours per week. Phew! Felt like more, but that’s because I’m not including the time spent on my other business. In total right now, I’m working about 30 hours per week. The way I see it--it’s easier to maintain something that have to cut it back, so I’m a step ahead here. And I attribute that mainly to the fact that I had to choice but to work less than 20 hours per week, since I work at home with 3 kids. Also, I love my sleep, so I try not to sacrifice that.
Are you trying to get your biz to run on its own, or just get started?
Check out the next 2 posts for an update to where we’re at as of November 30, 2020!