Tax Strategies & Preparation Articles

5 Big Mistakes to Avoid

The recession is making everyone nervous, especially small business owners.  And as a result, many are taking a cautionary approach to business management, which, in the end, will threaten their ability to outlast the recession.  If you’re interested in gaining momentum in these difficult times, you’ll be sure to avoid the following 5 big mistakes:

1. Stop Marketing

While you may need to reevaluate your marketing approach, you should definitely continue to market your services.  Determine which tactics have worked well in the past and repurpose them for the current economic climate.  Too many small businesses are decreasing their efforts to promote their businesses which will only enable their competition to eclipse them in the long run.  Now is the perfect time to heighten your efforts to market your business and gain more familiarity with prospective clients.

2. Mind Your Own Business

One of the worst things you could do is ignore your competition and their response to the recession.  You’ll gain a competitive advantage by monitoring their efforts in marketing, networking, retention, and service offerings.  Only when you’ve research the competition can you be strategic in your attempt to outlast them.

3. Wait to Self-Assess

Now is a good time to assess your efforts, determining both your strengths and your weaknesses in order to improve your business.  Prospective clients are tightening their purse strings and will be even more deliberate and thoughtful when selecting a tax professional that best suits their needs.  Your willingness to advance your business despite the recession will demonstrate your professional dedication.

4. Minimize Networking

While networking may take time, it doesn’t require a lot of money.  You would make a big mistake in minimizing your networking efforts during a recession.  You can learn a lot from other professionals weathering the economic storm, and as you continue to network, you’ll be exposed to good advice, helpful tips, and potential referrals.

5.    Sit Tight

Now is the time to make all necessary efforts to improve your appeal to prospective clients.  When you sit tight, you surrender the advantage to your competition and lose precious ground.  Look for ways to enhance your service offerings and marketing advantage.  When you do, your business will quickly become the premier financial provider in your area.

UAC’s Training Programs Will Catapult You Ahead of the Competition

It doesn’t take a rocket scientist to realize that by expanding your service offerings you can quickly expand your client base and, consequently, your bottom line.  As a tax preparer, adding accounting and QuickBooks services to your menu will not only attract more clients, but it will enable you to easily expand your seasonal business to a year-round venture.

Universal’s Professional Bookkeeper Program and Professional Bookkeeper’s Guide to QuickBooks are perfect recession-proofing training programs.  They will bolster your business with valuable services that every small business owner needs.

For more information on these two programs and their ability to strengthen your business and help you outlast the recession, visit Universal Accounting Center today!

“The best effect of any book is that it excites the reader to self activity.” – Thomas Carlyle

“I often feel sorry for people who don’t read good books; they are missing a chance to lead an extra life.” – Scott Corbett

“There is more treasure in books than in all the pirate’s loot on Treasure Island.” – Walt Disney

Whether you have an established tax practice or you’ve been thinking about starting one, you can benefit from the advice of others who have gone before and, in one way or another, achieved success.  Once again, we’re helping you find books that will enable you to achieve your business goals.  This week we took a cue from Entrepreneur.com to supply you with 5 book recommendations that others have found helpful, in no particular order.

Bill & Dave: How Hewlett and Packard Built the World’s Greatest Company by Michael S. Malone (Portfolio, 2007)

This book follows the rise of corporate giants William Hewlett and David Packard, examining those characteristics that made them both successful.  The San Francisco Chronicle calls it “a lesson plan for managers…” while Businessweek calls it “…a biography, management guidebook, and business history, all in one.”  What sets this book apart from others is that Malone focuses on the honesty and integrity upon which Hewlett and Packard built their empire.

New Ideas from Dead CEOs: Lasting Lessons from the Corner Office by Todd G. Buchholz (Collins, 2007)

Author Todd Buchholz follows the lives of 10 successful CEOs, including Estee Lauder, Ray Kroc, Walt Disney and Mary Kay Ash.  Buchholz himself describes the book’s purpose upfront: “I dare you. Search this book for the solitary secret that will guarantee riches while protecting you from being flung against the wall by competitors. You won’t find it.  Not because I have failed to divulge the lives and lessons of great CEOs, but because I tried to reveal the simple truth about making it big: It does not take a village, a Harvard MBA, or even a rich uncle. It takes passion, and obsession with turning a great idea into a sweeping revolution.”

Your Management Sucks: Why You Have to Declare War on Yourself…and Your Business by Mark Stevens (Crown Business, 2006)

This book enables anyone in a management position to reevaluate his/her approach and identify weaknesses that must be overcome in order to run a successful business.  In fact, this book presents a week-long “battle plan” that, in Stevens’ own words, “challenges assumptions about success and provides a road map for taking your business to the next level.”

Buddha: 9 to 5 – The Eightfold Path to Enlightening Your Workplace and Improving Your Bottom Line by Nancy Spears (Adams Media, 2007)

This book takes the Buddhist practice called the Eightfold Path and gives it a corporate spin, complete with practical exercises and case studies that enable readers to see the Eightfold Business Path in action.  Focusing on the Buddhist concepts of intention, mindfulness, and right action, this book provides a very zen approach to better managing your business, your employees and your work environment.

Red to Black in 30 Days by Allen Bostrom (Universal Accounting Center, 2008)

Small businesses are failing right and left; we hope yours is not one of them.  Red to Black in 30 Days enables readers to learn the Universal Project Management Model that will enable them to save failing businesses.   This book is a guideline for financial professionals who work with disheartened small business owners in need of a good turnaround plan.

Each chapter focuses on a crucial aspect of the turnaround process. Simple steps are outlined from initial contact through stabilization and profitable growth. This can be the guide through your first turnaround experience or it can enhance the management skills of even the seasoned tax preparer.  You may find that in offering turnaround services your business (and those of your clients) will be the few that thrive in these difficult financial times. For the cost of this one book you can enhance your value to current and prospective clients.  Order your copy now.

Resources

Edelhauser, Kristin. “10 Biz Books to Read This Summer.” 31 May 2007  Entrepreneur.com

5 Tips in Boosting Your Practice during the Economic Slump

Has your business taken a turn for the worst?  Or perhaps you’re just noticing a decrease in your practice’s profits.  Regardless of the reason, the economic slump is causing many business owners to revisit their financial standing to see how they’re faring.  The following five cautionary steps can make or break your business.

1. Write/Update your marketing and business plans

If you haven’t written one yet, shame on you.  We’re just kidding.  But it’s never too late to benefit from solid business and marketing plans.  And if you have one, an annual revision is in order.  Your business and marketing plans will assess your current standing and consider how to improve things this year.  A clear vision and a plan to accompany it will enable you to keep on track.

2. Meet with employees

If you have employees, it’s good to present your business and marketing plans to them and ask for input.  You may be surprised at the quality feedback you receive.  Also, depending on your situation, you may need to reevaluate just how much each employee contributes to your business’s profitability.  At some point you may need to let employees go in order to see your practice through a successful turnaround.

3. Meet with clients

Your clients may be privy to rumors that your business is failing.  It does you no good to ignore the rumor mill.  Meet with clients and be honest with them about your business and any steps you’re taking to rectify problems.  In fact, this is a good time to ask clients for suggestions.  Taking this one measure may prevent them from leaving your practice to look for a more stable accountant.

4. Streamline your expenses

When business gets bad it’s time to look at your spending.  Can you cut back and leave more money in the business?

5. Invest in your business

This may be the best time for a change in course.  And investing in your business may be just the answer.  Consider earning adding complementary services and getting professional marketing help.  Both will inject your business with a profitable infusion that’s sure to help you ride out the recession in comfort.

The Professional Bookkeeper Program

As a tax preparer, we already know that numbers come naturally to you.  Now all you need to do is find your inner accountant.  If your client roster currently contains small business owners, becoming an accountant would prove more lucrative than you can imagine.  These individuals need help analyzing their financial data so they can make more profitable decisions and achieve true success.  They’ve already trusted you with their financial information so it wouldn’t take much to convince them that you could also work as their accountant.

The four modules in this training program will enable you to target your services for the very valuable small-business market.  From creating books from scratch to growing your accounting practice, this program has it all.  Not to mention, you’ll receive 6 months of free follow-up support and a customized website for your business.  Upon completion you’ll also be able to test for certification as a Professional Bookkeeper (PB), a designation you can include in all your marketing materials as evidence of your expertise.

The Universal Practice Builder Program

Your business will never become profitable if you are unable to successfully market your services.  For over 25 years Universal Accounting Center has trained financial professionals like you in small business accounting.  In all our years working with accountants, bookkeepers and tax preparers we’ve come to understand that most don’t know how to promote their services to this niche market of small businesses.  Fortunately, we do.  Not only that, but we know which strategies and approaches will grow your business to the point where you will become so busy you may just have to start turning clients away.

When you enroll in the Universal Practice Builder (UPB) Program, you’ll receive a guarantee of $30,000 in new annualized billings in only one year, 12 marketing strategies that you can implement immediately, and a process which can produce 15 to 25 qualified leads per month.  And that’s just the beginning.

If your business is failing, don’t despair.  The best thing you can do to advance your practice is take action!   Invest in yourself and your business to increase your profitability now.  Enroll today!

We will open the book.  Its pages are blank.  We are going to put words on them ourselves.  The book is called Opportunity and its first chapter is New Year’s Day. – Edith Lovejoy Pierce

The New Year is a perfect time to enjoy a fresh start for your practice.  As 2008 winds down, you should take some time to reflect, and consider ways to improve your business practices in 2009.  In this two-part series we examine 10 ways to prepare for the New Year and enjoy more productivity and profitability as a result.  This week we cover the first five tips:

1. Revamp workplace

No, you don’t have to redecorate your office.  But we do suggest at least rearranging the furniture.  Giving a workplace a fresh new feel will often inspire better performance.  This is the perfect time to consider a new coat of paint, or if necessary, a new office chair or filing cabinet.  Reflect on items you need to best do your job, and then take advantage of holiday sales to purchase those items your office needs most.

2. Clean up computer files

While we often take the time to clean our workspace in order to present a professional image to clients and other visitors, how often do we clean up our computer files?  Although business associates may not be privy to how messy our virtual desktops may be, it does impact our ability to work efficiently and maintain valuable client records.  Schedule a couple hours during which you can reorder your computer files and back up pertinent information.

3. Revisit damaged relationships

No one performs better while holding a grudge.  Whether they be personal or professional, the holidays present a perfect time to repair damaged relationships.  Take the time to apologize for any real or perceived offenses for which you may be responsible.  You’ll find the holidays are much more enjoyable when you’ve taken the time to iron out misunderstandings with friends, family, and business associates.

4. Create a financial forecast

You’ll have a good idea of what to focus on when you create a financial forecast for the upcoming year.  Especially considering the current economic crisis, your business will do better when you can estimate your income and prepare for any contingencies.  Prepare a budget and consider and implement strategies that will increase your income.

5. Implement new techniques and services

In this day and age, industries change and advance quite rapidly.  Now is a good time to research industry trends and determine how you might alter your business practices in order to keep up with the competition, or better yet, gain that competitive advantage.

Return next week for our final installment in this series when we share the final five of 10 New Year preparation tips:

6.    Consider final tax benefits

7.    Contact clients

8.    Go green

9.    Eliminate clutter

10. Create a business strategy for the New Year

QuickBooks Made Profitable

Consider enhancing your service offerings by using your QuickBooks expertise to generate more clients.  In QuickBooks Made Profitable (QBMP), UAC trains you how to build a wider client base by offering QuickBooks setup, help and consultation services.  Not only that, but you can offer free QuickBooks seminars in order to attract clients who might also find your tax services beneficial.  The QBMP will teach you the following:

• Getting Started Basics
• Setting up a Company
• Working with Lists
• Setting up Inventory
• Selling your Product Invoicing for Services
• Processing Payments
• Working with Bank Accounts
• Entering/ Paying Bills
• Using Other QuickBooks Accounts
• Creating Reports, Creating Graphs
• Tracking and Paying Sales Tax
• Payroll interfaces with QuickBooks
• Estimating
• Time Tracking
• Job Costing

For a minimal initial investment, you can grow your business and bottom line in the New Year.  Be ready for 2009.  Order QuickBooks Made Profitable today!

We know that right now you’re probably thinking about what you’re going to do for Thanksgiving.  Will you be eating with the in-laws?  Maybe you’ll be inviting friends over for a feast at your house?  Or perhaps you’ll buck tradition and order pizza?  Regardless of how you choose to spend this holiday, we’d like you to think ahead to the next one.

Things may be a little tight this Christmas.  The kids might be asking for a Wii, your parents may want a Caribbean cruise, and you may just want a little peace and quiet.  While all those things are great items for a Christmas wish list, we’d like you to consider giving yourself the gift of a more lucrative future.

Whether you prepare taxes on the side or run a tax practice year-round, you can benefit from adding complementary services to your menu.  What client wouldn’t be interested in taking their finances to a practice that could perform all their accounting and tax needs?  You can gain that accounting expertise in less than 60 hours, all spent on your own time and at your own pace, when you enroll in Universal Accounting Center’s (UAC) Professional Bookkeeper (PB) Program.

Accounting Expertise

The PB course will supply all the know-how and confidence necessary for you to start and manage the books of current and prospective clients.  You will learn the day-to-day accounting functions required by small businesses, something not offered by most university degree programs.  You will gain a competitive edge that you will use with effective marketing strategies UAC will also provide.

The course consists of the following four modules:

Module 1-Accounting Made Easy. You will master the tools, procedures, and underlying principles that make up the bookkeeping processes of all businesses.  You will also understand the core building blocks of accounting and bookkeeping.

Module 2-Practical Small Business Applications. You will apply your understanding of the core accounting principles to specific industries.  You will learn to set up books from scratch, do payroll like a seasoned pro, and much more.

Module 3-Advancing your “Account-Ability.” You will learn sure ways to set up complete bookkeeping systems and manage the books for a variety of more sophisticated industries.

Module 4-Building a Successful Accounting Service. You will learn the steps to finding paying clients.  Upon completion of this module you will be able to start and grow an accounting practice following a proven program tested and perfected since 1979.

Upon successful completion of the course you can earn valuable professional certification, demonstrating your expertise.

In addition to all this, the PB program comes with the following iron-glad guarantee:

“If, after completing the course, you feel the course didn’t live up to your expectation, simply return the materials to Universal, for a 100% refund of any monies paid.”

QuickBooks Services

Adding accounting services to your menu would definitely expand your current offering and enhance your overall appeal.  When you add QuickBooks services to your menu, you become a full-service financial provider that also offers QB setup, help, and consultation services.

Consider this, Intuit charges $75 an incident and $349-$600 per year for QuickBooks support.  That’s too pricey for most small business owners, 85% of which currently use QuickBooks software; you could offer QuickBooks support for a more reasonable fee and draw in more clients in need of a little QuickBooks help. Becoming a Quickbooks Specialist will enable you to bring in more business, increase your income, and make your job easier.

This program comes complete with eight sessions that will train you in the following:

Sessions 1-3. The fundamentals of daily bookkeeping tasks, enabling you to gain a better understanding of the tasks that a bookkeeper performs. You will learn the key indicators of a company’s financial health, how to calculate them, and what they mean to your company. You will learn to interpret financial data in order to turn it into actionable business wisdom.

Sessions 4-6.  The must-know principles of marking down assets and how to depreciate them for the largest tax advantage in as little time as the law allows. You will learn methods of depreciating fixed assets and how to calculate allowance for bad debts. You’ll learn the benefits of each business structure and which form will legally allow you to pay the least taxes possible.

Session 7. The technique that will enable you to navigate the debit/credit maze and learn to use the accountant’s troubleshooting tool. You’ll be introduced to preparing financial statements and will be taught how to interpret them into practical steps you can take to increase profitability.

Session 8. Gross profit-what is it and what does it mean to the financial condition of your company? You will learn how the income accounts connect into the balance sheet.

These two programs will enable you to expand your business in 2009!  By enrolling in these courses today, you invest in the financial future of yourself and your family.  While most Christmas presents can wear out or break altogether, this gift of valuable career training will be a holiday investment you will never regret.

Enroll today and get your Christmas present early this year!

Countless individuals have successfully started their own businesses.  Countless individuals have tried and failed.  And even more have done both.  From those who have experienced both the ups and downs and are still around to tell about it, we offer the following advice:

“For us, our most important stakeholder is not our stockholders, it is our customers.  We’re in business to serve the needs and desires of our core customer base.”  John Mackey

“There are a lot of good new ideas out there.  What differentiates companies and makes them great is the execution.”  — Anonymous

“The biggest obstacle to wealth is fear.  People are afraid to think big, but if you think small, you’ll only achieve small things.”  T. Harv Eker

“A brand for a company is like a reputation for a person.  You earn reputation by trying to do hard things well.”  — Jeff Bezos.

“Innovation distinguishes between a leader and a follower.”  — Steve Jobs

“Next to doing the right thing, the most important thing is to let people know you are doing the right thing.” – John D. Rockefeller

“The way to get started is to quit talking and begin doing.” – Walt Disney

What advice will you contribute after successfully starting your own accounting and tax practice?  If you’ve been thinking about taking that leap to entrepreneurialism, now is the time.  A brighter future awaits you.  Universal Accounting Center (UAC) will help you find that future.

A Ready-Made Business

You already have skills in tax preparation.  You are good with numbers and would enjoy managing a business’s financials.  All you need now to become a full-service financial provider are two things: small-business accounting skills and the ability to market those skills.  Once you have both you can start your practice.

The Professional Bookkeeper Program

There are countless small businesses that need a Profit Expert, an accountant who understands their unique needs and can help them make informed business decisions.  A Profit Expert knows how to watch key indicators and use that information to increase a business’s profitability.  A Profit Expert does more than just manage a small business’s books; a Profit Expert plays an integral role in enhancing a small business’s standing and longevity.

Only one program will enable you to become both a small-business accountant and a profit expert.   The Professional Bookkeeper Program is designed to help you take advantage of a key target market: small business owners.  While you may believe that big money is with big businesses, they represent less than 15% of accounting opportunities.  The remaining 85% resides with the small business sector.

Adding accounting services to your menu will enable you to remain busy year-round and not just during tax season.  The quality of your services will also ensure your ability to retain clients.  But in order for your business to succeed you must first secure those clients.

The Universal Practice Builder Program

For over 25 years Universal Accounting Center has trained financial professionals like you in small-business accounting.  In all our years working with accountants, bookkeepers and tax preparers we’ve come to understand that most don’t know how to promote their services to this valuable niche market.  We do!

Not only do we know how to market those services, but we know which strategies and approaches will grow your business to the point where you will become so busy you may have to turn some prospective clients away – that or consider increasing your staff in order to increase your capacity (and your bottom line!).

To share this priceless information we developed the Universal Practice Builder Program.  Here’s just a sampling of what you will gain from enrolling in this phenomenal program:

• A guarantee of $30,000 in new annualized billings in only 12 months
• The skills to become a Profit Expert for each of your clients
• 12 marketing strategies that you can implement immediately
• A process which can produce 15 to 25 qualified leads per month
• 3 months of coaching via telephone and Internet
• Training on a computerized database tracking program
• A presentation DVD to show potential clients
• Training to use QuickBooks to attract more clients
• Access to a plan proven to help retain clients

These two programs will enable you to start your business venture with confidence and ease.  For a minimal initial investment you can become a successful entrepreneur.  Not to mention both programs carry our iron-glad guarantee: if, after completing the programs and applying their principles you feel they did not live up to your expectations, you can return all materials for a 100% refund of all monies paid.  That makes these two programs practically risk-free.

It’s time you invested in your financial future. Take the first step to realizing your dream of becoming a successful entrepreneur.  Enroll today!

Step Two: Approaching Clients for Referrals

Only after your clients have experienced your stellar services can you approach them for referrals.  Last week we talked about providing quality customer service to your clients in order for them to truly appreciate your business. Until you are certain clients are happy with your services, you should not approach them for referrals.  You don’t want to compromise an already delicate relationship.

Once you have a handful of pleased clients, select one of the following approaches in asking them for referrals:

1. Request feedback

One subtle method for requesting referrals can accompany your request for valuable client feedback.  Give your clients a survey on which they can respond to the quality of your services, explaining what they appreciate and what they would like you to improve.  If clients are especially satisfied with your work, this can be a good time to request, at the bottom of the survey, a list of individuals they know who might also benefit from your services.

2. Use a sales letter

If you distribute a newsletter for your business, this would be a great place to request referrals in a very casual way.  If you don’t currently distribute a newsletter, you may consider sending all your current clients a sales letter where you detail your services and offer a seasonal offer or special deal.  Again, at the bottom you can include a request for referrals.

3. Ask directly

Business lunches are a great way to show your clients appreciation.  It’s also a good setting for requesting referrals.  It’s important to remember that your approach should never be pushy or aggressive.  Take the time to chat with your clients, showing genuine concern and interest as you talk casually.  At some point the conversation should turn to business, and as the end of your meal nears you should make the request.  Consider a casual request, such as, “Is there anyone you know of who might also benefit from my services?”  If your client’s response is positive, ask if you could invite the client and his/her friend(s) to another lunch appointment where you could be introduced.

4. Offer incentives

Often the idea of discounted services is the best motivator.  You may find your clients more willing to refer their family and friends to your tax practice when they realize that they will receive a complimentary service or some type of discount.   Remind your clients of these incentives 3 to 4 times a year in order to encourage them to consider who they know that might benefit from your services.

5. Give gifts of appreciation

Regardless of whether or not your clients actually refer anyone to you, showing your appreciation for their business is always a good practice.  Gift cards for restaurants, movie theaters, gas stations, book stores, etc. are all good examples of small gifts of appreciation that will go a long way in inspiring client loyalty.

Asking for referrals can be daunting.  However, when you can ensure that your clients are first satisfied and then approach them with a low-pressure technique, you’re more likely to find success and a handful of prospective clients.

Attend a Free Seminar

Whether you have your own accounting practice or have been considering starting one in the future, you could benefit from a free seminar on Having Your Own Successful Accounting Practice.  Universal Accounting Center is making the rounds these next few months, offering this free two-hour workshop designed to teach you how to save many wasted hours and thousands of dollars learning techniques that work.  See if one of our free seminars will be coming near you.

Step One: Ensuring Client Satisfaction

Customer service is awareness of needs, problems, fears and aspirations. – Anonymous

Customers are an investment. Maximize your return. – PeopleSoft Ad

Here is a simple but powerful rule: always give people more than what they expect to get. – Nelson Boswell

It’s difficult to request referrals from clients who are not currently happy with your services. Before you can use this valuable resource to increase your client base you must first ensure current client satisfaction. Only after you do can you begin approaching clients for referrals.

The following seven tips will help you better serve your clients so that they happily refer their family and friends your way:

1. Establish clear expectations.

Many of your clients may not have worked with a tax specialist before and are unsure what to expect. The rest have and may be running on old expectations. It’s important to have a preliminary meeting where you define the relationship and your expectations, taking special note of what your clients expect from you. You may need to negotiate some of these expectations so that both you and your client are satisfied. In establishing clear expectations from the beginning, you will eliminate a lot of unnecessary frustration later.

2. Be respectful.

Regardless of your clients’ behavior, you must treat everyone with respect. Be courteous, thoughtful, and listen with intent. This applies to your face-to-face, email and phone correspondence.

3. Respond promptly and maintain contact.

Establish a policy on returning emails and phone calls. We suggest you respond within 24 hours; this shows clients that you are attentive and considerate of their needs. Also, when working on their accounts you should provide clients with periodic reports; otherwise they may assume that you’re not working at all.

4. Quickly resolve complaints.

Anytime your clients have concerns or complaints, you must respond quickly. The longer you wait to resolve a problem, the longer your client has to stew over it. On the other hand, the more quickly you resolve the client’s concern, the more satisfied your client is with your service.

5. Request feedback.

The best way to learn what your clients think of your services is to ask them. Consider giving all your clients a survey on which they can provide you with priceless feedback. Take this feedback into consideration as you modify your services and client relationships.

6. Save them money.

Consider recent ads where people are complaining of catastrophic situations to which another responds, “I have good news. I just saved a bunch of money on car insurance.” Nothing wins client loyalty like having a financial provider save them money. As you serve clients, consider this a priority; when you share your cost-saving tactics with clients, you will find them very appreciative of the effort.

7. Offer complementary services.

Clients appreciate convenience. Anything you can do to streamline their financial services is valued. Consider their needs and add complementary services that would make your business more convenient and, in turn, more appealing.

Only after you ensure customer satisfaction can you request referrals from your clients. Once you take the necessary action to meet your clients’ needs, you can approach them for referrals, at which point they are more likely to provide them.

Consider Adding QuickBooks Services to Your Menu

Intuit has cornered the market on accounting software with QuickBooks. More than 80% of small businesses use it to manage their accounting. Unfortunately for many small business owners, they are unaware how to optimize this software so they can retrieve the information they need to better run their businesses. Fortunately for you, this mean there are a number of small business owners in need of QuickBooks setup, help and consultation services.

Not only would adding QuickBooks services to your menu increase your bottom line, but it will also enable you to better work with clients to get the information you need to best prepare their taxes. As you demonstrate how to properly setup and use QuickBooks to manage their accounting, you can ensure you will receive the information you need in the format you need it in.

The Professional Bookkeeper’s Guide to QuickBooks will enable you to master this valuable software program and earn professional certification as a QuickBooks Specialist. You can better serve your current clients and attract new clients in need of QuickBooks expertise. For a minimal investment, you can enjoy large returns. Increase your customer service efforts today by enrolling in the PBG Program!

3 Questions That Will Help You Get On-Track

In order for your services to appeal to clients, they must focus on fulfilling their needs. This requires you to be dedicated to running a client-centered practice.

You’re familiar with the importance of good customer service because you yourself patron other businesses. You know what you like, and often the offer of a one-size-fits-all solution for your unique needs isn’t appealing. The same applies to your own clients. They want to feel as if your services are customized to suit their specific needs.

How do you do that? You must regularly step away from your practice and look at it from a client’s perspective. When you do so ask yourself the following three questions:

1. How will these services enhance my business?

Your clients aren’t interested in what you do as much as they’re interested in how it will benefit their business. While you may submit a mean tax return, they would find your ability to save them money in taxes much more appealing. So as you consider your demographic, ask yourself what they really want from you. Once you are able to answer that question, you’ll be better prepared to cater your services to meet their specific needs.

2. How much will it cost me?

While we’d like to think that clients are first interested in your services and second interested in your fees, that’s not always the case. Especially when you’re working with small business owners, they want to save as much money as possible, even when it comes to their taxes. When faced with this issue it’s often most effective to present them a per-project estimate rather than an hourly fee. They imagine those hourly fees adding up much more quickly than they actually do. When they can see how much the entire project might cost them (for example, tax planning by the month or tax preparation by the form), they’re generally more subdued and can see just how valuable your services are.

3. Do you offer any complementary services?

When you’re low on time or too tired to drive around, you can probably appreciate the convenience of a super store that has everything from groceries to pharmaceuticals to clothes to hardware. Your clients are just as interested in convenience as you are, and if you asked them they would probably admit they would prefer to have all their financials managed by the same individual.

Accounting services are the perfect complement to tax services. Not only would your current clients find your new services appealing, but you would be more likely to attract more prospective clients with the convenience of a one-stop financial shop.

The Professional Bookkeeper (PB) Program

When you enroll in the Professional Bookkeeper Program you can master small-business accounting skills in less than 60 hours. With a DVD program designed to help you review key concepts until they become second-nature, this self-paced approach enables you to complete the course on your own time. Not only that, but in addition to learning small business accounting you will also be trained in marketing those skills. After 25 years training professionals in small business accounting we know which marketing strategies are most successful in actually attracting and retaining clients.

Whether you’re a beginner or a seasoned accountant, this course will teach you everything you need to know to service your small business clients. Here is what some of our graduates are saying:

I can’t believe the accounting knowledge covered in four short weeks. I spent years in school and did not get the same education I did this past month… – L.C. Westergard

I knew nothing of accounting before I took this class and now I feel I have a good working knowledge of bookkeeping and starting a business.- S. David

My current clients have recognized the changes and appreciate them greatly. – S. Christensen

You gave a stay-at-home-mom the knowledge and understanding of accounting needed to go out and get work that can be done from home.- I. Snow

In order to best serve your clients you must consider all their financial needs. Once you master small business accounting you can manage their books as well as their taxes. This is incredibly appealing to clients who are looking for a one-stop financial shop. Expand your business before tax season hits again. Enroll in the Professional Bookkeeper Program today.

6 Steps for Turning Prospective Clients into Current Clients

You’ve made a good first impression and now you want to deliver your sales pitch and seal the deal. That may be easier said than done. But when you attend to the client’s needs and follow 6 simple steps, it can happen, and quite possibly, before the bill arrives.

1. Arrive early

It’s important that you properly set up your meeting. Most sales pitches are delivered over a meal; it’s a great way to lure prospective clients from their own businesses in order to discuss your services. In that case, you should ensure the restaurant is aware that your reservation is for a business breakfast, lunch or dinner. Give them your card before the clients arrive in order to avoid that awkward moment when the bill is presented. You can also determine seating at this time, which is important when meeting with more than one prospective client.

2. Build your professional relationship

Set the meeting’s tone by getting to know the client better before jumping into your pitch. Ask questions and listen to their answers. Just about everyone likes to talk about themselves, their families, their businesses, and even the weather. Exhibit genuine interest in your client’s life and you’re sure to build a solid base for your professional relationship.

3. Time your pitch

You want to avoid interruption and ensure adequate time to deliver your pitch. If you’re having breakfast, you don’t have much time and will want to start fairly soon. Lunch appointments are a little longer and you should wait until everyone orders before you start. Dinner appointments are the most leisurely and you should wait until everyone has finished their entre before you start talking business.

4. Ask the right questions

It’s important that you determine your prospective client’s needs. What are their current accounting needs? Do they already have an accountant? Are they satisfied with their current accountant? What services would they find most beneficial? The more you learn about their business and corresponding accounting needs the better equipped you’ll be to cater your pitch to align with their business objectives.

5. Emphasize benefits

Before you even practice your pitch try to take on your prospective client’s perspective. What would they most want from an accountant? While you probably offer everything from standard bookkeeping to payroll services, the client is more interested in how those services will benefit their business. It’s much more appealing to hear that you’ll help them cut costs and increase profits than it is to know that you can manage their accounts payable and accounts receivable.

6. Listen to and answer questions

This step is often overlooked. We can be so focused on delivering our pitch that we forget to listen to our prospective client’s questions and thoughtfully answer them. This will help you best determine what their deeper concerns might be. Often this is where the deal is sealed as the client comes to realize that you’re genuinely interested in what is best for their business.

Enhancing Your Sales Pitch

You’ll be better equipped to seal the deal when you have a professional designation to back your experience and expertise. Not to mention, when you receive training in small business accounting, you will enhance your service offerings and become a full-service financial provider! What client wouldn’t want their tax preparer to become a one-stop shop for their financial needs?

And when you enroll in Universal’s Professional Bookkeeper Program, you learn how to become a client’s Profit Expert, enabling you to contribute to a client’s profitability – a skill that makes your services invaluable. Imagine how that will enhance your sales pitch!

Get started today! UAC has been training professionals like you for over 25 years. Benefit from our experience and expertise. Enroll now and gain the skills and confidence necessary to secure more clients and seal countless deals!