Solve Your Time Problem in Your Accounting Practice All audio is streamed through your computer speakers. There will be several attendance verification questions during the LIVE webinar that must be answered via the online quiz at the conclusion to qualify for CPE. For the archived/recorded version of this webinar, there are also 3 review questions per hour and the link to the attendance verification quiz is a final exam on the topics covered during the presentation. Please note: You will not hear any sound until the webinar begins. 1

Solve Your Time Problem in Your Accounting Practice Sandi Smith Leyva, CPA, Xero Certified Advisor

Learning Objectives Discover new time management techniques Identify ways to save time at work Discover new ways to schedule and manage your calendar 3

Agenda 1 time technique that will literally rock your world 2 simple strategic time management concepts 2 time-saving skills The latest in research from neuroscience about multi-tasking 4

Why Do We Have a Time Problem Constant updates in accounting “rules” Constant tax updates Some of us stop there! No time for any other learning, much less innovation! –Soft skills, time management –Result is we’re not working as smart as we could 5

6 Time Batching Mastering Your Time = Mastering Your Schedule –Take control back from your clients and your staff

Time Batching Transform your calendar into blocks of time –Calls –Client work –Out of office visits –Fires 7

8 A Batch Calendar Time of Day MTWTF 8CoachingSales Team 10CoachingCallsPersonalCallsTraining 12CoachingWritingErrandsOnsite 2CoachingWritingOnsite 4CoachingWritingOnsite

Time Batching It’s not enough to know you need to do this –You have to start –The reward is 1-2 hours or more pickup per DAY! 9

#1 - Your True Worth Per Hour $50,000  $25 $100,000  $50 $250,000  $125 $500,000  $250 $1,000,000  $500 10

Your True Worth Per Hour Why important? –You must always do higher dollar tasks with your time or you will go backwards –It’s the law of averages 11

Your True Worth Per Hour Start doing $500/hour tasks first, then do $10/hour tasks You don’t see a dr. answering their own phone, taking appointments, filing… 12

What This Is Costing If you pick up 1 hour per week: –At $100/hour * 50 weeks = $5,000 –At $250/hour * 50 weeks = $12,500 If you pick up 1 hour per day: –At $100/hour * 250 days = $25,000 13

It’s About Time “My time management has been greatly improved. I have had an 11.5% increase in overall gross income for this year compared to last year.” -Cindy Hovig, Beyond Balanced Books 14

#2 Concept - Reusability The power of reusability –Standardization (McDonald’s) –Can be delegated – you can train someone 15

#2 Concept - Reusability Reusability –Training aids –FAQ –Scripts –Charts of Accounts –Check Lists –Proposals –Client Intake Example - websites 16

Beyond What You Think Is Possible “I was able to triple my gross revenues… Sandi’s CPA and QuickBooks background, degree in neuroscience, and experience in the accounting field are a rare combination and makes her uniquely qualified to help accountants start and/or grow their business beyond what they think is possible.” –Suzanne Conrad, Owner, Suzanne W. Conrad, CPA ** we cannot promise this return for everyone ** 17

Time Skill #1 Spreadsheet! Make a list of all your tasks Put a market dollar value next to ALL of them Sort your spreadsheet by lowest to highest dollar value 18

Time Skill #1 2 things to get –1. Look at the skills you need to hire for your lowest task What is your hourly rate? –Let’s say it’s $100 per hour –Free up 10 hours a month It will cost you $100 to get a $10/hour person You will be able to earn $1, You will net $900 (just don’t watch Oprah with those 10 free hours) 19

Time Skill #1 For maximum leverage, delegate the lowest paying tasks first. You will have a harder time if you delegate the higher paying tasks first –This is where new business owners get into trouble 20

Time Skill #1 You will (should) get a jump in income every time you hire! 21

Content-Rich “I am definitely seeing a change in my attitude and my business … I am enjoying the heck out of Millionaire Time CD I recently purchased. I have listened to it three times now and learn something new and reinforce what I have learned each time.” — Brigid Tara Heydt, Heydt Solutions 22

Time Skill #2 Look at what you’re doing for free –Answering s/phone calls that are not your clients –Having unbilled phone calls with clients –Posting answers to social media discussions –Reading newsletters that do not generate income for you –Google research unless it’s for a project –How many times you check your favorite website –TV 23

Ask Yourself “What is the #1 time drain in my day?” Repeat once a month –It will always be different 24

Move out of comfort zone The information Sandi has shared is helping me to move out of my comfort zone and now I am developing plans for my business that I had not even considered. I’m excited for what the future holds for my business. Thanks Sandi!!” — Linda Paulsrud, President, Summit Business Solutions, LLC 25

Overcome Blocks & Sacred Cows Changing habits is HARD Standing up to other people is HARD –We want to be liked Keep asking “What’s it costing you?” 26

Overcome Blocks & Sacred Cows We know your blocks: –Husband / housekeeper –Scarcity mindset –I want to do everything for my kids 27

Making More in Less Time Do you see how? The neuroscience –Switching costs – brain overload, stress, burnout –Interruptions – the time it takes you to get back on track 28

Questions 29

Bonus The Science of Multi-Tasking and ask for your copy 30

Thank you for participating in this webinar. Below is the link to the online survey and CPE quiz: Use your password for this webinar that is in your confirmation. You must complete this survey and the quiz or final exam (for the recorded version) to qualify to receive CPE credit. National Society of Accountants 1010 North Fairfax Street Alexandria, VA Phone: (800)