Before I start, I ask clients, what does it cost you to get out of bed each day? And we make a detailed list, mortgage, auto payments, taxes, insurance, groceries, insurance – medical, auto, life, etc., phone bills, cable bills, monthly entertainment, utilities, medical, gym memberships, then vacation planning, repairs to home and auto, luxury toys – boat, plane, hobbies-golf… you get the picture – calculate for monthly expense, annualize each line item, and then divide by 365 – what does it cost you to get out of bed each day? How much do you need to make to cover your bills? To add to savings, to buy life insurance, complete estate planning, to position your assets/business, homes, etc. so they best are aligned with your goals and needs. Addressing these questions will ensure you get the most tailored accounting services and solutions.
Arnie – friend – dentist – almost bankrupt and how I helped turn him around – started off by asking him what he was doing and why he was doing what he did – what helped him get up out of bed each day? He asked me if I could help a friend of his, and I did the same things Top line is for vanity, bottom line is for sanity – look at what you are making and what it is costing you to make that money – detail by division, allocate costs – time, efforts - what is working the best What if your office flooded today? Burnt down? Records, back up, computer, customers, contacts, etc. You have your 411 lists, 911 lists, but do you have your 811 lists?