Jirav reposted this
Co-founder of Jirav - Financial modeling & data analytics expert for high growth companies. Follow me for posts about FP&A, Finance & Accounting Humor and tech.
Making $1 million a year for most accounting firms seems out of their reach, but in reality, you can get there. Here's how: To hit $1M annually, you need $83,000 in MRR. One way to get there is to have 55 bookkeeping clients at $1500 each per month. But if you can upsell these clients Controllership and FP&A analysis, you can charge $4K+ per client. Now, you only need 20 clients at $4K each per month. Use technology to automate the inputs on the accounting and bookkeeping sides as best you can. Then, add value on the FP&A side. It takes a lot of work and support to handle 55 clients with just bookkeeping services and no technology vs. 20 clients using a tool like Jirav and maybe a tiny team of 3 people. You can move faster and even exceed 7 figures if you make a consistent product of monthly deliverables of books + set of financial forecasts on 3 different tiers of pricing. Make it happen. 🦒
Erbol Bitenov 🚀
3mo
Very helpful!
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3moGreat insights. Setting clear targets and leveraging technology can definitely help reach that $1M mark. 💰