EP499: Spotlight - Tommy Vincent – 3 Metrics That Drive Advisory Success

Michael Palmer: Every month we're going to look at these 3 things. And last month you were at a 5% margin. This month you're at 6%. Doesn't matter. We're improving. You improved your margin by 20% from 5% to 6%. So we're on the right track here, right? And that's what you want to do is you want to— you can't improve what you can't measure. So you want to start by measuring. You're listening to the Spotlight Edition of The Successful Bookkeeper with your host, Louie Prosperi. Listen each week as inspiring guests share their secrets of success to help you increase your confidence, work smarter, and build a business you love. This episode of The Successful Bookkeeper is brought to you by purebookkeeping.com, the proven system to grow your bookkeeping business. Welcome back to The Successful Bookkeeper Podcast. I'm Louie Prosperi. Our returning guest is the co-founder and chief revenue officer at HubAnalytics, Tommy Vincent. Welcome back to the show. Thank you, Louie. It's great to be back. I really enjoy interviewing Tommy. It's always fun. You have so much knowledge, and at the end of the day, it doesn't sound like an infomercial. It sounds like a nice conversation with a lot of key nuggets in it. And what we're going to talk about today is probably going to be something that, uh, is big in everybody's mind nowadays because they talk about advisory services. But let's, let's start with the part about, well, what metrics, if you want to get into advisory, what kind of metrics should, should the professional look at from, from their customer's perspective? Like, what should they be tracking? And give us 2 or 3 to start off with.

Spotlight: Yeah, absolutely. I love it. And before I jump into these specific metrics, yeah, I mean, let's, I think the point you, you initially just made there, like advisory, right? Everyone's talking about advisory and Hub Analytics was created to kind of accelerate and make that leap a lot easier and a lot better for folks. You know, even if we work with a ton of fractional CFOs, we work with a ton of CPA firms and CAS firms, you know, depending on what acronym you like. Um, and it doesn't matter. And we work with a ton of bookkeepers and it doesn't matter which group you fall into. I think a lot of times specifically, I think this is good for this community here is that we talk with a lot of bookkeepers and I think that they sometimes feel a little bit intimidated by being an advisor. And what I can tell people here on this