Timesheets are the wrong measuring tool (and how to replace them)
Timesheets are the wrong measuring tool (and how to replace them)
Listen to this podcast where the legend that is Ron Baker discussed the good, the bad and the ugly with timesheets (mostly the bad and ugly!)
When it comes to a running a successful accounting firm there are only 4 things that move the needle forward i.e pricing, positioning, process and people. In this episode we have focused on getting your processes right. To know more about the other three pillars hear my other podcasts here.
Once you get these 4 pillars sorted, you will have a successful accounting firm.
Time-stamped show notes
[4:26] Using timesheets as a measure for profitability
[11:20] How timesheets came about and how we should actually be measuring profitability
[15:35] Alternative to timesheets to keep check on slack employees
[20:22] How to avoid scope creep
[27:10] How to deal with paying employees by the hour but not using time sheets
[30:00] How not using timesheets alligns your employees and customers' objectives
[38.29] Subscription business model for accounting firms
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