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Bonus Sample Revenue PlanA revenue plan is a first step toward your marketing plan. This series of numbered tasks gives you some enlightening exercises to do. It’s part of my Revenue Clarity series and is part of Accountant’s Accelerator 2013. I have listed super-simplistic examples to guide you.
OK, so I know it’s not in Excel, but you can paste it. At this point in my career, I am more comfortable in Word than Excel!
Have fun and dream big!
Step 1
1. List your expected revenue for 2012. Or use 2011 if you want to do a full year. Or do both if you’re an overachiever!
If you are just starting your business, go to step 5.
Example: Revenues
Bookkeeping 40,000 Tax 30,000 QB training 30,000
100,000
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Sandra L. Leyva, Inc. PMB 95, 1900 Preston Rd, #267, Plano, TX 75093 Page [email protected]
Copyright Sandra L. Leyva, Inc. 2012
Step 2
2. Compute the percent of total so you can see what you “revenue mix” was or is.
Example: Revenues % of Total
Bookkeeping 40,000 40%Tax 30,000 30% QB training 30,000 30%
100,000 100%_________________________________________________________________________
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Sandra L. Leyva, Inc. PMB 95, 1900 Preston Rd, #267, Plano, TX 75093 Page [email protected]
Copyright Sandra L. Leyva, Inc. 2012
Step 3
3. List your number of clients by service line for 2012 or for the year(s) you are doing.
Example: Revenues % of Total # Clients
Bookkeeping 40,000 40% 4Tax 30,000 30% 100 QB training 30,000 30% 15
100,000 100% 119
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Sandra L. Leyva, Inc. PMB 95, 1900 Preston Rd, #267, Plano, TX 75093 Page [email protected]
Copyright Sandra L. Leyva, Inc. 2012
Step 4
4. Now, compute the average revenue per client. It should start to get interesting if you haven’t ever done this.
Example: Revenues % of Total # Clients Average per client
Bookkeeping 40,000 40% 4 $10,000Tax 30,000 30% 100 300QB training 30,000 30% 15 2,000
100,000 100% 119
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_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
Sandra L. Leyva, Inc. PMB 95, 1900 Preston Rd, #267, Plano, TX 75093 Page [email protected]
Copyright Sandra L. Leyva, Inc. 2012
Step 5
5. The fun begins. Look at your mix. What do you want it to be for 2013? Start by changing the Mix column – the % of total. What do you love working on? If you are just starting out in your business, don’t worry. Think about the services you want to offer. Develop your plan from there.
Hey, we know a lot of you in the tax business want to get out of it, so we had fun with our example.
% of TotalBookkeeping 67%Tax 0% QB training 33%
100%
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_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
Sandra L. Leyva, Inc. PMB 95, 1900 Preston Rd, #267, Plano, TX 75093 Page [email protected]
Copyright Sandra L. Leyva, Inc. 2012
Step 6
6. Now put back the revenue column starting with the total you want to make for 2013. The use the percentages to fill in the column amounts.
Revenues % of TotalBookkeeping 100,000 67%Tax 0 0%QB training 50,000 33%
100,000 100%
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_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
Sandra L. Leyva, Inc. PMB 95, 1900 Preston Rd, #267, Plano, TX 75093 Page [email protected]
Copyright Sandra L. Leyva, Inc. 2012
Step 7
7. Now put back the average column.
If your business is new, you’re going to need some help with this step until you get some history or get your pricing figured out. Come to our pricing session Friday morning to get some ideas.
Need help with average hourly rates or average fixed fees? Click on Intuit’s average rates survey summarized by Michelle: http://longforsuccess.com/wordpress/wp-content/uploads/2011/10/Intuits-Average-Billing-Rates-Survey-2011.pdf If this link breaks, paste both lines in the URL box of your browser to view the PDF. Or click here: goo.gl/sgSGJ
Revenues % of Total Average Revenue per clientBookkeeping 100,000 67% 10,000Tax 0 0% 0QB training 50,000 33% 2,000
100,000 100%
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_________________________________________________________________________
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_________________________________________________________________________
Sandra L. Leyva, Inc. PMB 95, 1900 Preston Rd, #267, Plano, TX 75093 Page [email protected]
Copyright Sandra L. Leyva, Inc. 2012
Step 8
8. Now compute the number of clients you will need to serve in 2013 to make your numbers. Remember this is total number of clients including the ones you already have that you won’t need to market for.
Revenues % of Total Average Revenue per client # clientsBookkeeping 100,000 67% 10,000 10Tax 0 0% 0QB training 50,000 33% 2,000 25
100,000 100% 35
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_________________________________________________________________________
Sandra L. Leyva, Inc. PMB 95, 1900 Preston Rd, #267, Plano, TX 75093 Page [email protected]
Copyright Sandra L. Leyva, Inc. 2012
Step 9
9. Like your numbers? You’re done! Don’t like your numbers? Wash, rinse, repeat (go back to step 5 and make changes from there).
You can change a finite number of things: your mix, your price, your # clients, and your revenue per client. I think that’s about it! Oh, you can add a whole new service line, too.
Revenues % of Total Average Revenue per client # clientsBookkeeping 100,000 67% 10,000 10Tax 0 0% 0QB training 50,000 33% 2,000 25
100,000 100% 35
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Congratulations!
By knowing the number of clients it takes to get to the numbers you want, you can now create a marketing plan which is next.
I hope you had some fun working ON your business instead of IN your business!
Michelle and I appreciate your support and business.
Sandra L. Leyva, Inc. PMB 95, 1900 Preston Rd, #267, Plano, TX 75093 Page [email protected]
Copyright Sandra L. Leyva, Inc. 2012