In our conversation, we set a ten-year vision for our three major divisions: bookkeeping, payroll, and taxes. We looked at and set goals for our revenue, the number of clients, types of clients, team members, and revenue per client.
Ten years is quite a long time- far too much to consider all at once. So, we broke down our time into bite-sized, easy-to-manage chunks that we believe can be accomplished within the next quarter. This was a helpful way to clearly see how we might achieve our goals without getting overwhelmed.
A necessary aspect of goal setting is goal tracking. That’s why we at Prospect Financial have an accounting system in place to help us keep track of some of those accounting-related numbers. We’re primarily focused on tracking revenue, revenue per client, expenses, and profitability. And we wouldn’t be able to do so without having the necessary accounting software system in place . This is a vital component of our accomplishments, and we at Prospect Financial are huge believers in this powerful tool, especially for small businesses!
If you run a small business, I advise that you set up an accounting system and outsource your more complex needs to a professional. I believe that we can help you set up your budgets and goals, as well as assist in tracking your goal-related numbers. If you’re a small business owner and this is something that would interest you, reach out today for a free consultation!