Robert Half once said, “The combination of hard work and smart work is efficient work.” Efficient work strategies can make any practice more profitable as owners determine how to get more done in less time. Here we share 6 tips that will help you work smart and eliminate the unnecessary so that you can find more time for billable hours.
1. Clean and organize your workspace. You can waste hours looking for important documents if your office is not clean and organized. While this tip may seem like one designed to lengthen your workday rather than shorten it, you’ll find that setting aside just a few hours to tidy up your office will save you a lot of time in the long run.
2. Schedule the workday around your most productive times. One perk in being self-employed is that you’re not required to comply with a traditional work schedule. This can be incredibly helpful for those who may work better early in the morning or late at night. Determine the times of day you are most productive and schedule your workday around them.
3. Establish a routine. Once you determine a work schedule, you should develop a routine. Determine when you will read and respond to email; abide by that routine. Determine when you will call and meet with clients; abide by that routine. While there will definitely be times you must break from this schedule, generally it can help you stay on task and reserve the bulk of your time for billable hours.
4. Perform similar tasks at same time. When multi-tasking you can expend a lot of energy beginning and ending the different tasks you’re trying to juggle: taking files from drawers, looking up phone numbers, logging into your email. You can save yourself some time by performing similar tasks all at the same time: making phone calls, scheduling appointments, reviewing your clients’ status, and emailing. When you do this you don’t waste precious time building momentum only to shift gears to move on to a different task.
5. Hire help. Oftentimes it really does take money to make money. Some of your more tedious tasks could be accomplished by a part-time employee. While you may need to pay this individual minimum wage or more, think of all the time it affords you to make more money and possibly take on additional clients.
6. Dedicate more attention to higher-yielding clients. While it’s important to spend time increasing your client base, some of that time may be better spent attending to higher-yielding clients. They already find your services valuable. Is there more you can do for them? Do they need tax planning services or financial consulting? Or could you enhance your service offerings in order to become even more valuable to these clients? Chances are your greatest profits come from a handful of high-yielding clients. Your business could become more profitable by better serving their financial needs.
Increase Service Offerings
Once you improve efficiency, you can increase your billable hours by offering complementary services. Training in tax preparation will enable you to help clients manage their tax burdens year-round.
Enroll in Universal’s Professional Tax Preparer Program and become a full financial provider, acting as a client’s tax preparer as well as their small-business accountant – a skill that will make your services invaluable.
Get started today! UAC has been training professionals like you for over 30 years. Benefit from our experience and expertise. Call Universal at 1-877-833-7908 to enroll today.