It is possible to run an Accounting Firm and never do tax returns or financial statements! Tom Bowman, Owner of Bowman & Company, CPA, PC shares his journey and 10 step process for going from Technician to Business Owner.

7. Service Offering & Business Snapshot
Brief Personal Background
My Business Story
The 10 Rehab Projects
Final 4 Keys to Business Success
AGENDA

8. Bowman & Company, CPA, PC
Practice Profile
Bank Statement Activity 64
CBS 1
Check Register 3
Duplicate Checks 80
Electronic 3
Excel Spreadsheet 6
Other 10
Paper Checks 0
Peachtree 0
Quicken 4
QB 56
224
Client Accounting System
Attorney 7
Bakery/ Food Sales 2
Consulting 21
Government Contractor 4
Gym 1
Information Technology 5
Manufacturing 1
Marketing 1
Medical Professional 53
Non-Profit 8
Other 17
Property Manager 1
Real Estate 9
Retail 13
Sales 2
Service 64
Trade Contractor 11
Wholesale Sales 4
224
Business Type
Yes 29
No 195
224
Provide Bank Rec
Yes 138
No 86
224
Saleable Business
1040 1
1065 29
1120 11
1120F 0
1120H 2
1120S 122
990 6
Sch C 53
224
Business Return
Avg Sales Volume $498,367.34
Avg # of Employees 4.82
Avg Age of Client 49
Avg Yrs in Business 10.93
Avg Yrs as Client 6.00

10. Our Business Numbers
Monthly Clients Payroll Clients Individual Clients
Number of Clients 220 126 337
Monthly Billing $65,107 $23,760 $286,642
Avg Fee $295 $159 $850/tax return
$/bkpr hr $335 $198 $370/hour
*as of 12/31/20

13. Tools of Our Trade

17. THE

29. TAX
PLANNING

31. Mortgaged to the
hilt

45. A
F
A
B

61. TIMELINE
1913 2001 2008 2017

63. 2001

64. 2001-2008

65. 1987-2008

66. 2008

67. 2008-2017

69. 2017

70. Tom’s Top 10 Rehab Projects
1. Draft
2. Client Accounting Manual
3. Hiring System
4. Incentive Pay
5. Support
6. Firm Metrics
7. Standard Service Offering
8. Fixed Fee Structure/Weekly Collection
9. Systematic Market
10. Delegation

72. Clients Bank My Bank

77. BOOKKEEPER – If you are good with numbers, personable
and hardworking, we will train you to provide bookkeeping
and payroll services for small businesses. Start at $000,000
plus productivity bonuses. Call 123-456-7890 ext. 222
(City)-area CPA firm.

80. https://www.pearsonclinical.co.uk/information/AboutUs.aspx

87. https://www.pasba.org/

92. Firm Metrics
1. $’s per bookkeeper hour
2. % Complete
3. Back Work Month’s
4. Production Reports
5. COGS
6. Net Profit %

97. Systematic Marketing
1. Cold Calling
2. Tele-Marketing
3. Salesperson
4. Appointment Setting Services
5. SEO
6. Social Media
Dynamics Marketing (Stacy Somerville)
www.dynamicsmarketinginc.com
ssomerville@dynamicsmarketinginc.com
701-797-2852
(Currently charges $28 an hour)

98. "even blind squirrels find some nuts"