How do you run a 15 / 25 / 40 hour per week firm?
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“How do you run 6-figure accounting firm in only 15 hours a week? How do you do it? What’s the magic formula?”
In 8 years of running a highly profitable firm (on a profit per hour basis), these are the only 3 things that I’ve focused on consistently and ruthlessly.
This is the magic formula:
Boundaries + Workflow Efficiency + Pricing = High Profit per Hour
In that order. That’s it.
Everything else falls into those three buckets.
Boundaries can be: when you work, how you work, what you do for work, etc
Workflow Efficiency can be: month-end close process, tech stack selection, tax document collection process, etc
Pricing can be: niching, packaging, positioning, etc
Boundaries. Workflow Efficiency. Pricing. And a constant refinement of all three.
👉 “But what about profit?? You have to care about profit!”
That’s just a product of pricing and workflow efficiency.
👉 “What about giving a great client experience? You need that!”
That’s a combo of boundaries and pricing.
👉 “What about scope creep? Gotta’ keep your eye on that!”
That’s workflow efficiency and boundaries.
The trick is, you’re constantly refining all three. It’s like the wack-a-mole game where you smack down one little bugger, but another pops up.
Maybe in Year 1 you set your work hour boundaries (a great boundary to start with). Then in Year 2 you start solidifying your workflow process. In Year 3 you have time to really sit down and define your packages and pricing based on all you’ve seen in the first 2 years.
But…in Year 4, you probably need to reset your boundaries - you have a higher level of client now, after all. And in Year 5, gotta’ revisit your tech stack. So much has changed in the industry in 3 years!
Boundaries. Workflow Efficiency. Pricing.
And constant refinement.
The question is, which one do you need to define (or refine) right now? Only you know the answer to that.
Hope this helps!
Erica
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