The Firmlever Weekly Roundup: Issue #33
We have something special this week...
Wow. I am really loving my newsletter subscribers.
And we are growing fast!
A HUGE thank you to all who participated in the private beta for our new accounting firm benchmarking database.
We are now almost at 1.5 million data points... (yep, still in free beta so you can try it here):
Data points are things like Rev/FTE per revenue band, Owner Hours, SDE, Rev/Client, software stack, etc, etc.
More like big data if you'll allow me to geek out a bit.
It's the combinations that make this number so huge and the fact that we normalize to compare apples-to-apples (no point comparing a solo $300K rev cloud firm to a $6.5 million regional right?).
And thanks to some excellent feedback we upgraded our firm valuation estimator based on SDE:
You'll find it at the very bottom of your Firmlever Compare report. It's a ballpark estimate based on an in-house AI model my team is building, leveraging data from actual broker market comps.
No, we're not "The Bloomberg of Accounting Firms" nor are we the "Zillow of Accounting Firms".
Not yet anyway. 🤓
If you want valuation data for your firm even more accurate (ie. human broker-level) there is also a new option just below this new Section 13 that I think you're going to love. Try it and lmk.
Ok let's dive in...
- Introducing the Firmlever Firm Freedom Index: Now that the data is pouring in, each week I'm looking forward to dropping helpful resources for you guys. Here's the latest drop today:
- A $1.13M Mid-Atlantic Firm With a $188K/Year Profit Leak: An article I wrote yesterday that one firm owner was gracious enough to let me anonymously share. The following is the "Before" P&L--click the image for the "After":
- Quick question: If you could compare your firm to thousands of other similar firms in your revenue range--what are the top metrics you would like to compare and why? Just reply to this email and lmk. (If I decide to add it or if I use your feedback I will give you a big fat public shoutout next week).
(Hint: We're working on a new feature that will "reverse engineer" the top 10 percent US accounting firms and reveal the systems, pricing, staff mix and operational structure they use--that you can copy. 100% anonymous, private and "apples to apples".
Thanks all for this week!
-Marc
p.s. - Ok one more question (since today is Saturday). Just in case you don't get a chance to try the new Firm Freedom Score tool. Do you work on Saturdays? Just reply yes or no. (I promise not to judge).
p.s.s.- if you enjoyed this week's newsletter and want to support us please share--I would be grateful for more great subscribers like you!
