Progress Report Equals HSD
Drew from Gardenville, Nevada, is a sole proprietor CPA who attended our Sole Proprietor Retreat a couple of years ago with Dan Morris and Daryl Golemb.He's been implementing Value Pricing and ditched timesheets ever since. He recently sent me this update on his progress to date. I especially enjoyed the story about the litigation and the peer reviewer:
Was in a deposition last Friday. The grilling attorney from the other side held out the four trust returns (all were prepared post Baker seminars/books) I had prepared—with the invoices on top. He asked me to justify the bills—I said I billed based on value and that I estimate most return fees prior to preparation.He pressed me re the bill re our hourly rates. I said something re that not being relevant (I'll have to read the deposition to see exactly what I said).He dropped the line of questioning at that point.At the end of the depo the attorney for my client asked me if I was available for more forensic and testimony work. I guess I did okay.More...A recent new client...a good ole local Nevadan...signed an FPA [Fixed Price Agreement]...$2,000 down...$1200 per month...he loves me.Also...I need to get back and review what I'm doing...I'm busier than hell...I know I could be more productive...BUT...I AM up 20% from $460k in 2006. 2007 was $550k plus...and 2008—I should hit $500k in a few weeks, and approach $700k by end of 2008.Staff is starting to approach work in FPA mode which is nice.I still need to lose a bunch of clients...and become Daryl [Golemb]. [Meaning Drew wants far fewer customers in the long run].Oh...going through a peer review. The reviewer wanted time records. I told him my time was not totally documented, but other team members were. Mentioned value billing and you in my email to him. He responded, said his firm tried the Baker stuff and then something re old dogs, etc.Hope you are doing great...sorry I missed you and Mr. Morris at Tahoe just recently, I'm a bit buried...Drew
Congratulations Drew! Keep up the great work.