Benchmarking means picking one key number that shows your accounting firm's health and tracking it over time. The speaker cut her hours while staying confident the business ran well by focusing on a simple, regular report of core numbers.
Chapters
And so, and we led this off a while ago about like, hey, let's talk about benchmarking, right? And benchmarking is supposed to be what is the number that we need to do? Like, what is the number that tells us how we are doing and how can we make that number better? Is this even the right number for us in the first place? That fundamentally is what that is. And this is from EOS Rocks. And so if you're like, man, should I begin to do that? Yes. Spent a lot of time thinking about this because it— this— our rocks are why I was able to work way under, way under the normal amount of hours and have a very loopy, like, Percocet brain. And the business was fine, right? Because we knew, because in that 4 hours I would get a little report and in that little report would have all of my numbers and I'd be like, cool, we're fine. Everything's solid. We are doing everything that we're supposed to be doing.