“we never look at the money we’re missing out on.”
by matt solomon
there is one final shift you need to get your business kicking into high gear. the cornerstone to building a successful, growing business is shift #5: investing in the right guidance. growing a sustainable business for the long term requires having the right team of advisors because, to put it simply, you don’t know what you don’t know!
more: tap into your gold mine | your secret weapon for exponential profits | step into the role of a business advisor | shift your practice: stop depending on compliance work
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getting the right guidance can be the difference between success and failure, between time spent with family and loved ones and endless hours at the office, between satisfying, high-profit work and low-paying busy work.
consider this: the most profitable 1 percent of firms, top business leaders, athletes and entertainers (the list goes on!) regularly seek out and receive guidance and support. at one time, asking for guidance might have been frowned upon; fortunately, we have come around to the idea that learning from folks who have gone before us is a great way to smooth our own path to success. the alternatives – trial and error, adopting risky business models or implementing outdated systems – have proved to be expensive timewasters. the right guidance gets you new ideas quickly, informs your business about what actually works and makes you more money in the long run.
calculating your unseen cost
we never look at the money we’re missing out on.
many people do not realize that all the ideas, information and expertise you may have missed out on have an unseen cost. the price of what you do not know is real – even painful in some cases – and calculable.
your unseen cost
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- what was your average monthly revenue last year?
- how much would you really like to earn each month?
- simply subtract the average from the ideal. the total is your unseen cost.
your unseen cost is the money you spend every month on the wrong things because you lack proper guidance. it’s the tuition you pay to the university of not knowing, the money you’re leaving on the table. there is nothing keeping you from making your ideal monthly salary – you just need the right guidance to get there.
building your business the right way
when you build your business the right way, you will:
- recognize you’re not in this alone
- find the right support system of people who offer smart, educated and reliable advice
- enjoy an extra layer of security and stability in your business
- realize that you can follow the methods of others who have achieved success with the exact same process
- experience newfound confidence to navigate any challenge, achieve any goal and earn multiple high-profit engagements
- get valuable feedback on critical business areas (we all have blind spots!)
- build a system of accountability that helps keep you moving forward
getting the right guidance: the results
tens of thousands of other successful advisors have invested in the right guidance. for me, having advisors i trust is more than theoretical. i’ve personally invested hundreds of thousands of dollars in advisement, and i’ve made millions as a result. i would not be where i am today in terms of wealth, health and happiness without having had the right guidance in my life.
as an accountant, you’re probably ready to get down to the numbers. one advisory client can generate $3,000 (and up) per month. that’s $36,000 per year. having just five advisory engagements is worth $180,000 in annual income. the average client engagement is three to four years, meaning you can make an additional $540,000 to $900,000, in fewer hours, doing work that you enjoy. so long, 1040s!
this brings me to the end of our five shift series. thanks for coming along for the ride! i hope you feel empowered to turn your business model away from a high-volume, low-profit hamster wheel and embrace a higher monthly engagement with better clients, fewer hours, more pay and – most importantly – a better quality of life.