Running a firm without the burden of timesheets can be challenging. In this episode, I shared actionable strategies to streamline your accounting firm for greater efficiency without relying on timesheets.
0:30 My firm started without using timesheets and the idea wasn’t based on any super sophisticated reasons.
0:43 My goal was to expand the business, and hire a team. I noticed everyone I knew despised timesheets.
0:54 I stood firm against using timesheets and successfully built a robust seven-figure firm without relying on them.
1:46 I relied on time forecasting to run a timesheet-free firm.
2:03 Time tracking is an inaccurate tool. It skews your data if not accurately recorded.
2:29 Forecast the time needed for client proposals, the cost of the work, and estimate profitability.
3:39 For capacity planning, assign time estimates and model out your firm’s time commitments on a rolling monthly 12-month basis.
4:32 The key approach is to be forward-looking—never view time retrospectively.