Tax Strategies & Preparation Articles

What to Focus on When Starting a New Business

There are countless things to think about when starting your new business.  From costs to clients, from office supplies to offices managers, you can waste your workdays worrying about   all of them.  Thankfully, not all of them are created equal, and if you focus on each and every one you will become overwhelmed and unproductive.  You must limit your focus to a handful of issues that require the most attention in order for your startup to succeed:

1. Cash flow.

It’s important that you closely watch cash flow from the very beginnings of your business.  Determine how much money must come in for your practice to be profitable.  Only when you are properly managing cash flow can you know whether your current business efforts are successful.

2. Money-making efforts.

There are a lot of valid tasks you can perform in your business, but in the beginning you should focus much of your time and energy on money-making efforts.  Of course that means you should perform as many billable hours as you possibly can, but in order to have clients for which you can invoice those billable hours, you must first market your services.  If you haven’t yet developed a marketing strategy, now is a good time to decide which techniques you will use to promote your business to your target market.

3. Quality clients.

Especially when it comes to clients you should live by the adage “quality over quantity.”  That may seem counterintuitive because in the beginning you will feel the need to secure as many clients as you possibly can in order to get your business up and running.  But in the long run you will be grateful you spent your time searching for a few regular, high-paying clients rather than a lot of sporadic, delinquent ones.

4. Customer service.

Client retention has a lot to do with the customer service you provide.  When you treat your clients with courtesy and respect, they are more likely to refer you to their family and friends.  Also consider what they most need from a financial provider and do all you can to provide them with those services.  If you can become a one-stop financial shop for your clients, they will often respond with increased loyalty.

5. Hiring good employees.

You may not need to hire employees initially, but when you do you must ensure that you hire well.  Hold out for hard-working, qualified applicants before you make any decisions.  You can lose more time and money revisiting the hiring process because you didn’t hire good employees the first time around.

6. What’s working.

You should expect to make mistakes a time or two as you get started.  In fact, if you’re not making any mistakes it means you’re not taking any risks; you should attend to your mistakes and see what you might learn from them.  In addition, you should focus on what is working.  As you regularly assess your efforts, determine which are most profitable and continue or increase those efforts.

If you are ready to launch your tax practice full-time, you should consider adding accounting services to your menu.  Not only will this attract more prospective clients, but it will ensure you have business year-round and not just during tax season.

The Professional Bookkeeper Program

You want your services to appeal to the greatest number of prospective clients.  Over 85% of the opportunities in the accounting field are within small businesses.   In fact, Universities prepare their students for corporate accounting which doesn’t address small business needs.  Also more than 50% of small businesses fail within the first five years, and much of that failure can be attributed to lack of accounting expertise.  Those small business owners need an accountant who can address their small business accounting needs.

When you enroll in the Professional Bookkeeper Program, not only do you learn small-business accounting, but you are trained how to become a company’s Profit Expert by using that accounting information to help these small businesses make informed decisions that increase their profitability which in turn increases your value to clients.

In less than 60 hours you could earn professional certification that demonstrates your newly-acquired expertise.  You can do all this on your own time and at your own pace.

The Universal Practice Builder Program

You may be surprised to learn that most financial providers struggle, not because they don’t offer quality services, but because they don’t know how to effectively market those 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 how to best market those services.  We help you apply strategies and approaches that will grow your business to the point where you become so busy you may have to turn some clients away - that or consider increasing your staff in order to increase your capacity (and your bottom line!).

Our Universal Practice Builder Program will provide you with 12 marketing strategies that will enable you to secure 15 to 25 qualified leaders per month, a guarantee of $30,000 in new annualized billings in only 12 months, three months of master coaching, and access to a proven plan that will help you retain clients.  Again, you can complete this amazing program on your time and at your own pace.

When you order these two programs together, you increase your service offerings and your ability to market them.  Not only that, but both come with an iron-glad guarantee promising that if, after completing these courses, you feel they did not live up to your expectations, you can return the materials to Universal for a 100% refund.  Not many organizations will back their training programs with that type of guarantee.

Take advantage of this marvelous opportunity to secure your new business venture.  Order now!

5 Steps in Gaining an Edge

Successful businesses must always look for ways to gain a competitive edge.  This does not have to be a lengthy or expensive endeavor.  In fact, in implementing the following five steps, you could find your businesses leading the competition with higher earnings and a larger, more expansive client base:

1. Create a board of advisors.

You will be able to make informed business decisions much more quickly when working with a board of advisors.  To do so, select 3 to 10 individuals with expertise from which you can benefit.  Also select those who would find your expertise equally appealing.  While you are not required to compensate members of your board, the partnership is only attractive if you can offer something in return.  Consider working with legal representatives, business insurance representatives, banking representatives and, perhaps, an accountant.  With a board full of individuals with broad and deep expertise, you’ll find your business better equipped to increase its profitability.

2. Research the competition.

Whether or not you like it, you are competing with other tax preparers for clients.  You offer similar services to a shared target market, meaning you are one of many options from which that target market can choose.

In order to be a good competitor you must know your competition.  How does the competition market their services?  What benefits do they offer?  To which demographic are they marketing?  Are their marketing approaches affective?  You must answer all these questions and more by performing simple research.

First, determine which of the tax preparers in the area are prominent.  Then study their marketing strategies.  Talk with your board and other professionals to see which of these competitors are getting rave reviews and determine why their services are most popular.

3. Practice stellar customer service.

Good customer service doesn’t ensure that you’ll get along with all your clients all of the time.  But it does show them that you’re invested in their satisfaction and will do your best to serve their needs.  And because of that your clients will feel valued. Those valued clients will then become key members of your marketing team, sharing your contact information with friends and family.  And nothing speaks louder to potential clients than a current, satisfied customer.

4. Gain an advantage.

A competitive advantage is gained when you offer your target market something a competitor cannot.  When you market using that competitive advantage, you are able to edge out the competition.  In order to become the premier tax preparer in your area, you must achieve a competitive advantage and incorporate it into your marketing strategy.  The best way to do that is by offering complementary services to your clients.  By adding small-business accounting to your menu, you are able to attract and retain clients interested in working with a full-service financial provider.

5. Forge strategic partnerships

Also called “natural business relationships,” strategic partners are business professionals who share your target market but do not offer competitive services.  They are individuals with whom you can share ideas, advice, and yes, referrals.  But more than that they literally become a work force that buoys your business, enabling you to labor more efficiently and enjoy great profitability.

Strategic partnerships are scalable, meaning that depending on the size of your practice, you must pick professionals who are compatible with your business size and type.  Occupations that correspond well with tax preparation include loan officers, checking representatives, financial planners, insurance representatives, lawyers, etc.  If you were the CEO of a large tax firm then you would try to connect with leaders of organizations that complement your business’s size and prestige.  If you are an independent tax preparer with a handful of clients then you would look to other small business owners or employees of like organizations.

In order to be successful, these strategic partnerships must be symbiotic, meaning they are beneficial to both parties.  Before approaching a potential partner ask yourself the following three questions:

1.  What will they get from this relationship?

2.  What will you get from this relationship?

3.  Are they the type of person who will give you referrals?

Are they the type of individual who will provide referrals?There is no use wasting your time on individuals who are not interested in participating in this type of relationship. While it does not require an abundance of time and energy, it does involve the commitment to meet regularly and help one another.  These questions will enable you to screen those who may not be ready for this type of collaborative effort.

Gaining a competitive edge requires you to do all those things your competitors are not doing.  While the above 5 tips may take time and energy from your busy schedule, they ultimately pay large dividends and place you at the head of the competition.

Start Today!

If you are interested in adding accounting service to your menu, order our DVD, “Start Today and Have Your Own Bookkeeping Service,” and learn everything you need to know to begin.  This video will show you that growing your own accounting practice is achievable, profitable, and easy.  For less than $10 you can discover that adding bookkeeping services to your menu is definitely within your reach.  Order today! Or watch the video online now for free.

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!

If you’re looking to grow your business and attract new clients you may consider launching a press campaign in which you use media outlets in order to alert the public of your tax practice and the valuable services you offer.  In fact, this can be an inexpensive way to market your business to prospective clients.

In order to launch a successful press campaign all you need are a few key items:

Press Kits.  A press kit contains all the information about your business that a media outlet would use to run a story about you or your business.  Generally, everything in the press kit would be held in a folder that has your business name and logo.  You can also include a press kit on your website where you would link to all the information that would prove helpful to interested journalists.

Press kit items include:

• Biographies and photos of top executives (if you are the owner and sole practitioner, that executive would be you)
• A one-page fact sheet about your business
• Background information on your company
• Recent press releases
• Brochures describing your services

Some of these items are described in more detail below.

Media Lists/Contacts. In order to effectively use media outlets to distribute information about your business, you need to know which outlets reach your target market.  Looking at local publications like newspapers, circulars, and small magazines, you can determine which would most likely have readers that could also be prospective clients.  All these publications should be included on your media lists. As you work more closely with these organizations you become familiar with key contacts you can add to your media list as well.

Press Releases. You should take advantage of every press-worthy event to run press releases in local publications.  Newspapers and the like are hungry for filler pieces like that and will run them for free.  Just be sure that your press release is to-the-point and provides pertinent information about your business, the services you offer, contact information and all the details of your newsworthy event.

Fact Sheet. A fact sheet provides a quick snapshot of your business with a brief paragraph describing you company’s history, when and why it got started, the services you offer and the personnel you employ.  Ensure that all documents include contact information where you can easily be reached with more questions.

Media Alerts. You want to use the media to your advantage, so any time your business hosts or attends an event you should alert the media with an announcement.  In this, the event gets free media coverage that will enable interested prospects to learn more about your business by attending or reading up on the event.

Your Logo. In order for interested parties to include a copy of your business name and logo, you should include a logo for them so they can include the most professional image possible.

Photos and Biographies. Your business will look more professional if you can include professional photos of yourself and any other executives along with brief biographies which include work history and qualifications in reverse chronological order.  Journalists especially will find these helpful when interviewing you for a news story.

In being prepared you can easily launch a successful press campaign.  All you need are professionally printed documents and key information to get started.  Once you have that, you can be proactive and get the word out about your business at crucial times.

If you would like an example of press releases and other important press documents, visit Universal Accounting Center’s Press Room to learn more.

Langston Hughes wrote the following poem entitled “A Dream Deferred.”

What happens to a dream deferred?

Does it dry up
like a raisin in the sun?
Or fester like a sore–
And then run?
Does it stink like rotten meat?
Or crust and sugar over–
like a syrupy sweet?

Maybe it just sags
like a heavy load.

Or does it explode?

Webster defines “defer” as “to put off action; delay.” In actuality it’s a fancy way of saying procrastinate. Are you procrastinating your dreams? And what will happen to your dreams if you do? Most importantly, what will happen to you?

Start Your Own Business

Attending to your own future is not selfish. As you invest in a brighter and more lucrative future for you and your family, you are taking action to improve your lifestyle while preparing for a more comfortable future.

In a number of months you could have a thriving bookkeeping service with a sustaining client base and a more independent lifestyle. Not only can you determine how much money you will make, but you can decide when and where you will work. We’re guessing you’ve dreamed of enjoying that kind of professional freedom! And achieving that will take less time than you imagined and an even smaller financial investment.

The Professional Bookkeeper (PB) Program

This PB Program can help you become proficient in small-business accounting, giving you the expertise and confidence necessary to start a business’s books from scratch. In less than 60 hours you could earn professional certification evidencing your proficiency to prospective clients.

In addition to becoming a Professional Bookkeeper, this program will also teach you how to market your new skills, securing those clients that will ensure your business’s success. From startup to year-end, this program is designed to help you begin your new accounting practice with ease.

But don’t take our word for it. Read what some of our graduates have to say about the program:

Even with 15 years of accounting background, I found myself learning something new nearly every day. - B. Varechok

I can honestly say that the hands-on training from Universal Accounting Center was far more helpful than that of my degree program. The training I received in you class was superb, exactly what I needed for the type of accounting business I was trying to start. I have been so pleased with the training I received from you, that my two part-time employees are currently taking your course. -S.A. Ivins

The Small Business Accounting class was one of the most enjoyable and probably the most useful and practical I have ever taken. That includes the MBA I recently received.-N. Lee

As an average for each client I am making about $30 - $50 an hour, I’ve been able to quit my full-time job. Thanks again to everyone at Universal Accounting Center! It has created for me a brighter outlook financially, as well as more free time in my personal life. And, I didn’t have to go to college for years and pay thousands of dollars for an education.-S. Thomas

Take Advantage NOW!

If you enroll in our Professional Bookkeeper Program now, we will also sign you up for an additional program, QuickBooks Made Profitable. Designed to help you attract even more clients using your QuickBooks expertise, this course will enable you to start and maintain an even more lucrative practice.

80% of small businesses use Intuit’s Quickbooks software. Learning Quickbooks will help you keep more efficient records, enabling you to teach your clients how to use the software so that you can get the information you need which will make your job much easier. In addition, this program will teach you how to attract more clients using your QuickBooks setup, help, and consulting services.

It’s time to stop deferring your dreams. You and your family deserve more. When you enroll in our Professional Bookkeeper and our QuickBooks Made Profitable Programs, you make a personal investment that will pay large dividends in your future. Take advantage of this special deal. Enroll now!

Now Is the Time to Decide

When it comes to the future, there are three kinds of people: those who let it happen, those who make it happen, and those who wonder what happened.-John M. Richardson

May the dreams of your past be the reality of your future.-Anonymous

For tomorrow belongs to the people who prepare for it today.-African Proverb

There are four more months left in 2008; how will you use them?

Your aspirations will continue to reside in your future unless you do something about them, today! You can take action to start your own bookkeeping service by enrolling in the Professional Bookkeeper Program. You could be finished in less than 60 days and earn certification that will show prospective clients that you have the expertise necessary to handle all their accounting needs.

One Simple Course

This course is designed to make you a Profit Expert. What’s a Profit Expert? A financial professional who does more than balance books, but also informs clients how to increase their business’s profitability. They are proactive accountants who help their clients make informed business decisions aimed at improving a company’s fiscal health.

In addition to becoming a Profit Expert, the Professional Bookkeeper Program will teach you all you need to know to start and manage a business’s books. Specifically you will learn how to perform small-business accounting tasks. This is remarkable because most accounting programs prepare their graduates to perform corporate accounting; however, more than 80% of accounting opportunities are not with large corporations but small businesses.

There are more than enough local businesses with which to build your client base. They could use someone specialized in those skills that satisfy their unique needs.

In addition to the reasons noted above, there are many more that detail why a bookkeeping service makes so much sense. Here’s a list of some of those reasons:

• Every business is required by law to keep books
• You can earn a good living (the average client will bring in about $300 per month)
• It’s an inexpensive business to start (you probably have most of what is required right now)
• No expensive equipment is required
• You can make money doing what you enjoy
• You can work anytime, any place
• Rented office space is not required
• Inventory is not required

A bookkeeping service is one of the easiest to begin. And to wrap up your training, we will also teach you how to market your new and unique skills. You’ll not only know how to start and manage a company’s books from scratch but also how to acquire those qualified clients that will appreciate your service offerings.

In less than four months you could be ready to start your own accounting practice. Why not celebrate the New Year early by enrolling in a program that will change the course of your future, today?

Our New Years Gift to You

When you enroll in the Professional Bookkeeper Program, we will give you a special gift enabling you to start a more profitable practice: QuickBooks Made Profitable.

Here’s how it works. Nearly 80% of small businesses use Intuit’s Quickbooks software. While other programs may be useful, Quickbooks has definitely captured the small business market. Learning Quickbooks will not only help you keep more efficient records, but it enables you to teach your clients how to use the software so that you can get the information you need, making your job much easier. Add to that the ability to represent yourself as a QuickBooks expert and you’ll be able to attract larger numbers of potential clients. This program will teach you how to leverage your time while saving clients money in taxes and helping them increase their profits. What client wouldn’t be interested in that? We’ll teach you how to use this valuable software package to generate even more clients!

What an offer! After ordering and completing these two programs you will be ready to start the New Year off right.

Don’t delay your dreams any longer. 2009 will be another banner year for the small business. Take advantage of it today! Enroll now!

10 Tips on Getting More Done in Less Time (Part Two of a Two-Part Series)

Robert Half once said, “The combination of hard work and smart work is efficient work.” In today’s economic slowdown, you need to work as efficiently as possible; you just might outlast a recession by learning how to get more done in less time. In this two-week series we are helping you accomplish that by sharing tips on working more efficiently. Last week we covered the following five tips:

1. A clean, organized workspace
2. Schedule workday around your most productive times
3. Establish a routine
4. Hire help
5. Consider replacing some paper files with electronic files

This week we’ll continue our discussion on working efficiently by covering five more:

6. Perform similar tasks at same time

When multi-tasking you can expend a lot of energy on the process of beginning and the process of ending the different tasks you’re trying to juggle: taking files from drawers, looking up phone numbers, logging into your email. You can save yourself some time by performing similar tasks all at the same time: making phone calls, scheduling appointments, reviewing your clients’ status, and emailing. When you do this you don’t waste precious time building momentum only to shift gears to move on to a different task.

7. Avoid unnecessary meetings

While some meetings are absolutely necessary, others are not. Maybe it’s time to put your appointment schedule on a diet. How many of those meetings are truly required in order to perform the function of your job? Consider the objective of each meeting. Can those objectives be accomplished with an email or phone call? When you limit the amount of time you spent in unnecessary meetings you leave yourself more time for what really matters: billable hours.

8. Reduce the number of emails you send and receive

Is your inbox swamped with new emails every day? Some of those can be eliminated by minimizing the number of emails you send to others. Every time you send an email ask yourself if your communication is complete. Even though you can probably send 100 emails to the same person without increasing your Internet bill, to do so would not be a very frugal use of your time. Include all current and necessary correspondence in one email rather than sending lots of short, independent emails. This will limit the number of responses you receive.

9. Be productive and not just busy

Truly successful (and wealthy) business owners are not just busy, but productive. The time they spend working increases their bottom line because they have figured out how to perform more billable hours. Examine your work schedule and see how you could limit the busywork that earns you nothing; then increase the billable hours on which your livelihood depends.

10. Dedicate more attention to higher-yielding clients

While it’s important to spend time increasing your client base, some of that time may be better spent attending to higher-yielding clients. They already find your services valuable. Is there more you can do for them? Do they need tax planning services or financial consulting? Or could you enhance your service offerings in order to become even more valuable to these clients? Chances are your greatest profits come from a handful of high-yielding clients. Your business could become more profitable by better serving their financial needs.

Universal Accounting Center’s Solution to Higher Efficiency

The wise financial professional looks for ways to add complementary services to his/her menu of services in order to get those higher-yielding clients to do even more business with him/her. In doing so, earning-potential and appeal to prospective and current clients is greatly increased.

By adding small-business accounting services to your menu you are able to increase your billable hours, which in turn, increases your bottom line. UAC’s Professional Bookkeeper Program will teach you everything you need to know to manage a small business’s books, including how to market those services to prospective clients.

To learn more, order our video Introduction to the Professional Bookkeeper Program. This video will introduce you to the four module included in this course, demonstrating just how valuable it can be to you and your business. Survive the recession by adding accounting services to your offerings. You have nothing to lose and a increased bottom line to gain. Order the video today or watch it online for free.

10 Tips on Working More Efficiently (Part One of a Two-Part Series)

Also called “working smart,” efficient work strategies can makes any small business more profitable as owners determine how to get more done in less time. And as we are in the middle of what some would call a recession, getting more out of your work day could help you and your business fair better during difficult economic times.

In this two-week series we will discuss 10 tips on working more efficiently so that you can eliminate the unnecessary and find more time for billable hours. Here are the first five of 10 tips designed to help you work smart:

1. Clean and organize your workspace

You can waste hours looking for important documents if your office is not clean and organized. While this tip may seem like one designed to lengthen your workday rather than shorten it, you’ll find that setting aside just a few hours to tidy up your office will save you a lot of time in the long run.

And this tip is not for looks alone. You want to ensure that all your files are quick and easy to locate. So don’t just hide them in a box in the closet. Take the time to truly organize your workspace. And once you do, dedicate a few minutes at the end of each day to clean up your office so it doesn’t become unruly once again.

2. Schedule workday around your most productive times

One perk in being self-employed is that you’re not required to comply with a traditional work schedule. This can be incredibly helpful for those who may work better early in the morning or late at night. Determine the times of day you are most productive and schedule your workday around those times.

There’s no use working 9 to 5 if you find you’re most sluggish in the last afternoon. Maybe you could work from 6 to 11am and then again from 8 to 10pm. Ensure your schedule is realistic and works for you and your family. And if your schedule is highly unconventional, make sure you devise a method for contacting clients and colleagues, as their schedules are likely to be more traditional.

3. Establish a routine

Once you determine a work schedule you should develop a routine. Routines can help you work more efficiently. Determine when you will read and respond to email; abide by that routine. Determine when you will call and meet with clients; abide by that routine. While there will definitely be times you must break from this schedule, generally it can help you stay on task and reserve the bulk of your time for billable hours.

4. Hire help

Sometimes it does take money to make money. Some of your more tedious tasks could be accomplished by a part-time employee. While you may need to pay this individual minimum wage or more, think of all the time it affords you to make more money and possibly take on additional clients.

You may find your best employee lives in your home, just a hop, skip and a jump away from your office. When you hire a teenage child to work for your business, you not only equip them with valuable experience and key employability skills, but you also enjoy important tax breaks. As long as the child is under 18 he/she is not only tax deductible, but in a proprietorship they’re exempt from FICA, Unemployment, Workmen’s Compensation, and tax withholding.

5. Consider replacing some paper files with electronic files

Sometimes all that paperwork can bog you down. You may want to consider which files would be easier to manage electronically, eliminating the paper trail as well as making information much more accessible.

By following just a few tips, you could make your business function more efficiently, which will make you and your business more productive, and in turn, more profitable.

Join us next week when we will discuss the following 5 tips for working smart.

6. Perform similar tasks at same time

7. Dedicate more attention to higher-yielding clients

8. Avoid unnecessary meetings

9. Reduce the number of emails you send and receive

10. Be productive and not just busy

UAC Can Help You Work Smarter

Let Universal Accounting Center help you maximize work efficiency. In learning new skills you can enhance your service offerings and become more profitable. Our DVD 4-pack is designed to let people like you discover those skills that can enhance your practice. It includes the following DVD’s:

Introduction to the Professional Bookkeeper Program–Learn how becoming a Professional Bookkeeper will improve your accounting skills and help you in your accounting career.

Yes Sample Marketing CD-Learn how to introduce your services to a potential client. Use this either for role playing, watching it while meeting with your client or passing them out.

Start Today and Have Your Own Bookkeeping Service–Learn how to make over $80,000 per year working from home while getting more clients than you can handle. Know how to charge your client so you can afford to take that next vacation while they get such a great deal they will be telling all their friends about you.

The Art and Science of Getting Clients–Learn proven marketing strategies designed to help accountants market their skills in order to get more clients.

Each of these DVD’s can help you work smarter. Order now and save nearly $25.00 on this valuable set. For less than $20 you can be on your way to a more efficient tax preparation business-or better yet, a more efficient full-service financial practice!

One of my favorite business bloggers, Ivan Misner, talks about attending a presentation by Steve D’Annunzio where he said, “taking the hard path often makes life easier and taking the easy path often makes life harder.”

As a parent of three young children this idea resonates with me. Taking the time to parent my children well now may be harder, but it will make parenting much easier when they’re teenagers. As I thought about this I realized the idea applies to just about everything in life, including business.

What hard things could you do right now to make your future professional life easier? By putting in more time, energy and even investing a little money you could significantly lighten your future load. Not to mention, increase your future earnings in the process.

The Hard Path for an Easier Future

If you currently offer tax preparation services, your business would benefit greatly by offering additional, complementary services. The truth is doing so would probably require an investment of time, money, and energy. But in the end would it make your life easier? YES!

Expand your practice by adding small business accounting services to your menu. Chances are some of your current clients are small business owners, so you are already familiar with their unique needs. And because you already prepare their tax returns, you have an advantage over other contract accountants who may be interested in securing their business.

Your Advantage

When you are trained in small business accounting you can promise prospective clients attentive service that meets their unique accounting needs. And when you enroll in UAC’s Professional Bookkeeper Program you can become confident, skilled, and certified in small business accounting.

Here are just a handful of things you will learn:

Accounting Made Easy - - Course Module 1

Master the tools, procedures, and underlying principles that make up the bookkeeping processes of all businesses. Understand the core building blocks of Accounting and Bookkeeping. — 4 DVDs & Manual. See Sample

Practical Small Business Applications — Course Module 2

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. — 4 DVDs & Manual. See Sample

Advancing your “Account-Ability” — Course Module 3

Sure ways to set up complete bookkeeping systems and manage the books for a variety of more sophisticated industries. — 4 DVDs & Manual.See Sample

Building a Successful Accounting Service — Course Module 4

Learn the steps to finding paying clients. Start and Grow an accounting practice following a proven program tested and perfected since 1979. — 4 DVDs & Manuals.See Sample

While this may seem the hard path, the truth is, this course can take less than 60 hours to complete. And the cost of enrollment is a fraction of what you’ll earn after completing the program. So choose the hard path for now, for 60 hours, and enjoy an easier, more comfortable lifestyle later. Enroll today!

References

Misner, Ivan. “The Hard Path is Easier.” Networking Now: Growing Your Business Through the Power of Relationships. Entrepreneur.com