Accounting and Bookkeeping Articles

6 Ways to Update Your Website and Gain Appeal

A website can be a valuable promotional tool, enabling you to broadcast information about your business even when your office is closed.  These days, with technology advancing at breakneck speeds, it’s important that your professional website be competitive and drive more prospective clients your way.  But how do you do that?  Here are six easy guidelines to improve your website so that it generates more return visits and, consequently, prospective clients.

1. Watch the numbers

There are many companies willing to provide you with traffic reports that let you know how many visitors you have and which pages they visited.  In this, your visitors will let you know which areas of your website are most appealing and should be accentuated in order to capitalize on user interest.

2. Make key information easily accessible

While most visitors will probably land on your website because you gave them your URL or they performed an internet search on local accountants and/or bookkeepers, there will be some who will immediately want to know who you are and what you do.  This information should be easy to access from your homepage.  Also be sure to include easy-to-find contact information.  Your website’s ultimate objective is to enable people to retain your services.  They can’t do that unless they know who you are and how to contact you.

3. Turn your site into a magnet

The most important thing about your website is that it attracts returning visitors.  And visitors will continually return if they find valuable content on your website.  If you provide bookkeeping tips for the small business owner, you’ll find they use your site as a reference and perhaps even bookmark it.  And when they need accounting help, who do you think they’ll go to?  You, of course!

Promotional offers also generate return visitors.  By offering a web promotion, you give them reason to bookmark your site and return when they’re ready to enlist your help.

4. Simplify the design

How do you respond to Power Point Presentations with neon text, flashing graphics, and nifty rollover effects?  It may be hypnotic at first, but can quickly become distracting.  While you want your site to be visually appealing, you need to remember that your content is on display, not the clever programming.  When in doubt, simplify the design, focusing on the professional image you want to project.

5. Standardize all the screens

Related to simplifying the design of your website, ensure that all your screens are standardized with a singular navigation system and a means of returning to your homepage with one simple click.

6. Use testimonials

Let your satisfied customers do some marketing for you.  Testimonials go a long way in creating a lasting impression on prospective clients.  They are memorable, versatile, reusable, and give you a competitive edge, not to mention that they build your credibility as an accountant.  Every time a client compliments you on your services request a testimonial that you can add to your website and other promotional materials.  These would work great on a screen that focuses on the true value of your service offerings.

Universal Accounting Center Can Help You Create a Custom Website for Your Practice

Imagine how difficult it would be to create your own website that can accomplish all the suggestions noted above.  Now imagine that UAC can manage that process for you, enabling you to create a strong web presence without expending much energy.  Universal Accounting Center (UAC) offers you Accountweb, a website development tool, available exclusively for financial professionals.  Within a number of business days you can create a personalized website for your practice.

To see a sample of a website developed from the Universal Accountweb platform, go to www.universalaccountingservices.com.

Whether you run a full-time practice or perform bookkeeping services on the side, you need a website that tells potential clients about your business even when you are unable to.  If you haven’t yet developed a website for your business, or if your current site is in need of reform, today is the day!  Order your subscription now-your website will be up and running by the following business week.  And if you are a Universal Accounting student you will receive a free six-month trial!

10 Steps in Getting What You Want

In business you don’t get what you deserve, you get what you negotiate. - Chester L. Karras

You must be fully prepared to lose a great deal in order to make a great deal. - Anonymous

My father said: ‘You must never try to make all the money that’s in a deal.  Let the other fellow make some money too, because if you have a reputation for always making all the money, you won’t have many deals. - J. Paul Getty

All business owners must be prepared to negotiate at some time in their careers.  In fact, successful professionals must negotiate quite often in order to increase their profitability.  To help you master the art of negotiation, we’ve designed this two-part series that will share 10 steps in getting what you want.  Last week, we presented the following five steps:

1.    Prepare

2.    Time

3.    Strategize

4.    Listen

5.    Leverage

This week we’ll cover the last five:

6. Offer

It’s important that both parties find the offer to be clear and specific.  Michael Sanibel, in his article on Entrepreneur.com, explains, “The basis of the bargain should include: offer prices (in proper denomination), statement of work (scope), identification and quantities of goods or services, delivery schedule, performance incentives (if any), express warranties (if any), terms and conditions, and any documents incorporated by reference.”  Once both parties clearly understand and agree to this offer, which should be put in writing, you can move forward.

7. Anticipate

Experienced negotiators realize that the first offer is a reference point and is rarely accepted.  You should anticipate compromise, for that is a key element in negotiation.  In your research, you should have come to understand and appreciate what the other party wants and needs in order for this deal to be acceptable.  In that, be prepared to revise the original offer until it appeals to both parties.

8. Aim

That being said, it’s important to aim high.  Sanibel suggests you shoot for a win-win solution, where both parties are satisfied.  The Sloan Brothers and Daniel Kehrer, in their articled entitled “Ten Techniques for Better Negotiation,” explain, “Another tenet of negotiating is ‘go high, or go home.’  …As long as you can argue convincingly, don’t be afraid to aim high.  But no ultimatums, please.  Take-it-or-leave-it offers are usually out of place.”

9. Hold Firm

Most people know that when buying a car from a salesman you must be willing to walk away from the car of your dreams in order to secure the best deal.  The same idea applies to your business negotiations.  Max Markson once said, “Quite often, your indifference can be the greatest negotiating weapon you have.”  While you may care a great deal about this deal, you must hold firm to those things that matter most to you and be willing to step away if negotiations stray too far from that.

10. Close

It’s important that you recognize the point at which both parties are nearing a successful close.  Be posed to shake on your deal and follow up with all the necessary documents.

Negotiation is an art that takes considerable time and practice to master.  However, following these 10 simple steps can make the process much easier, helping you navigate to a more satisfying conclusion.

Visit Universal’s Free Resources

Universal Accounting Center (UAC) would love to see your practice succeed.  That’s why we offer your business the most valuable resources available.  Feel free to take our virtual UAC Tour to learn more about our training programs that will enhance your practice and your bottom line.  Or visit our free accounting and tax resources.  Either way you’ll want to bookmark the UAC site and return continually to improve your business.

Resources

Sanibel, Michael.  “The Art of Negotiating: A Practical Guide to Getting What You Want, When You Wants It, and at the Price You Want.” 24 August 2009  Entrepreneur.com

Sloan Brothers with Daniel Kehrer.  “10 Techniques for Better Negotiation.” 2005  Yahoo! Small Business

10 Steps in Getting What You Want

Start out with an ideal and end up with a deal.-Karl Albrecht

The most difficult thing in any negotiation, almost, is making sure that you strip it of the emotion and deal with the facts. - Howard Baker

Any business arrangement that is not profitable to the other person will in the end prove unprofitable for you.  The bargain that yields mutual satisfaction is the only one that is apt to be repeated. - B.C. Forbes

From buying a flat screen TV to securing new clients, you must know how to negotiate the best deal possible.  Giving in too soon or holding out too long can both be detrimental.  Negotiation is about balance-it’s about risking just the right amount to achieve what’s best for you and your business.

Some professionals are born with the innate ability to work a deal while others are weary of any situation that requires skillful negotiation.  We’ll admit, negotiating isn’t for the faint of heart, but sometimes learning the necessary steps is all it takes to get your game on, and in the end, close a deal to your satisfaction.  In this two-part series we share 10 steps that can help you improve your approach to the art of negotiation.  This week we’ll examine the first five steps:

1. Prepare

It’s important that you do your research before scheduling any kind of negotiation.  Whether you’re working with a vendor, a client, or your next-door neighbor, you should know what you both have to contribute to the deal.  And what are your weaknesses?  Any good negotiator will have determined yours before the meeting.  Do you know what theirs are?  Also ensure that you are meeting with the one who actually holds the power to seal the deal.  The last thing you want to discover, after going through all 10 of these steps, is that the deal you have secured still needs approval from someone higher up.

2. Time

Timing can be everything.  If you schedule a meeting with a company at its busiest time of the year or after a sudden downturn in the local economy, you will be at a disadvantage.  When scheduling an appointment, ensure that you have selected a good time for both you and the party with whom you’re negotiating.

3. Strategize

Negotiation is all about strategy.  Remember that your first offer sets the tone for all future conversations.  In his Entrepreneur.com article entitled “The Art of Negotiating,” Michael Sanibel explains, “The first offer is usually the most important and the benchmark by which all subsequent offers will be judged and compared.  You’ll never get what you don’t ask for, so make your first offer bold and aggressive.”  Remember that negotiation can be a professional dance where offers are often padded with extra, but unnecessary, amenities that help build price so that it can be whittled down again.  Understanding what, exactly, you want, will help tremendously as you move forward.

4. Listen

On the other hand, it’s equally important that you know what the other party wants, and this can only be achieved when you listen to what they’re saying (this includes body language).

5. Leverage

Know and believe in your own strengths–what you bring to the table.  Only when you have confidence in what you’re offering will you be able to use that as leverage in securing the deal you want.

Complementary Services Act as Great Leverage

Your business will become so much more appealing when you add tax preparation services to your menu; this alone will give you more leverage in closing deals with prospective clients.  In just two short months, tax season will be upon us; that’s just enough time to become a Professional Tax Preparer.  Learn everything you need to know about tax preparation in UAC’s Professional Tax Preparer program.  We’re so confident that it will work for you that we offer a 100% money-back guarantee:

If, after completing all of the learning activities,

you do not feel that you have received your money’s worth,

simply return the materials to Universal Accounting Center,

for a complete refund.

There aren’t many universities out there that would make that promise to its graduates.  Don’t wait another day to enhance your business and change your life.  Enroll today!

Join us next week when we talking about closing the deal with final five steps:

6.    Offer

7.    Anticipate

8.    Aim

9.    Hold Firm

10. Close

Resources

Sanibel, Michael.  “The Art of Negotiating: A Practical Guide to Getting What You Want, When You Wants It, and at the Price You Want.” 24 August 2009  Entrepreneur.com

Sloan Brothers with Daniel Kehrer.  “10 Techniques for Better Negotiation.” 2005  Yahoo! Small Business

9 Steps in Properly Terminating Employees

One of the most difficult things you may have to do as a small business owner is terminate an employee.  Regardless of the reason for taking such action, it’s important that you follow a procedure that ensures you are not only legally protected but also respectful of the employee’s feelings as well.  Last week we shared the first 4 of 9 steps in properly terminating employees:

1.    Be objective

2.    Make it legal

3.    Work out the details

4.    Provide reasons, but don’t belabor the point

This week we’ll share the final 5 steps:

5.    Don’t blame or apologize. If termination is the result of poor employee behavior, you should have already issued various warnings and performance reviews as documentation.  The final termination meeting is not a time to assign blame.  And while you may very well express regret for this action, you should not apologize for your decision.

6.    Express gratitude for work done. Once you explain the reasons for termination, you can thank the employee for the work they have done.  In his article entitled “How to Respectfully Terminate Employees,” Lolito explains, “A terminated employee should understand that while the employment relationship did not work out, the employer appreciated her service and does not fault her in a personal sense.”  In the case of a layoff, offer to write a letter of recommendation and, if you truly valued their work, tell them you would be happy to have them back once the business can sustain that.

7.    Let the employee respond. It’s important that the employee have a voice.  Give him or her the opportunity to respond and react to the decision.  However, as mentioned previously, don’t allow the meeting to turn into a debate or negotiation.

8.    Wrap up loose ends. Be sure to have the employee sign all necessary paperwork, and then take measures to close down their appropriate accounts.  AllBusiness.com recommends, “Prepare to collect everything the company has provided to the employee, and consider which computer passwords, access codes, and permissions must be changed.”

9. Note lessons learned. Once the process is complete it’s important that you review the situation and see what lessons you have learned.  Do you need to create or modify your company handbook in order to address some of the issues you encountered?  Should you revise the job description to better attract applicants with the skills you require?  What types of training might be required in order to ensure that your employees are aware of your expectations?   All this will help you better prepare, and perhaps even eliminate, similar situations in your business’s future.

Termination is distasteful for both the employer and the employee.  However, if you could take measures to ensure it’s done properly, you will save yourself a lot of difficulty in the future.

Increase Your Appeal by Offering Tax Preparation Services

You can increase your income and your ability to maintain a staff of employees when you add tax services to your menu.  Consider the fact that many tax preparers make more money in the months leading up to the April 15 tax deadline than others make all year long! Since all individuals and businesses, small or large, are required to file taxes, tax preparation is a respected skill that will always be in demand. And many of your current and prospective clients would probably be happy to have you file their taxes as well as do your accounting for them.

Also consider who your clients will trust to file their taxes.  Countless individuals are scammed each year by people who claim to know what they’re doing.  More and more are becoming weary of tax preparers without any credentials.  The Tax Preparer Designation will put many of those individuals at ease, assuring them that you have been properly trained in tax preparation.

Take time this summer to acquire the expertise necessary to become a Professional Tax Preparer before next tax season.  UAC’s Professional Tax Preparer (PTP) program will not only give you hands-on training in completing full individual (1040) and business returns (1065, 1120, 1120S), but it will also provide you with the following:

• 20 hours of valuable video instruction
• 2 instructional manuals
• Step-by-step instruction in becoming a sole practitioner
• One year of follow-up support from expert tax preparers
• The opportunity to earn valuable professional certification
• Our iron-clad, risk-free guarantee

Increasing your service offerings will increase your appeal and your bottom line.  Enroll in the Professional Tax Preparer Program today, and improve your competitive advantage while securing your business standing in the local community.

Resources

“How to Fire an Employee.” AllBusiness.com

Lolito, Michael J.  “How to Respectfully Terminate Employees.” 18 August 2008  Entrepreneur.com

9 Steps in Properly Terminating Employees

Donald Trump may have built a popular reality television series based upon his famous catch phrase, “You’re fired,” but in the real world, terminating employees requires more consideration, respect, and often, legal counsel.  Many small business owners are considering a serious reduction in staff in order to decrease costs and give their businesses a fighting chance of surviving the recession.  If you find yourself in the same boat, it’s important that you consider the legal ramifications for yourself as well as the emotional ramifications for your employee(s).  In this two-part series we’ll be sharing 9 steps that will help you best approach the process of terminating an employee.  In this article we will cover the first 5 of those steps:

1.    Be objective. Michael Lolito, in his article “How to Respectfully Terminate Employees” on Entrepreneur.com, explains that the decision to terminate should be a factual rather than an emotional one.  When making this decision you should collect all necessary paperwork.  In the case of termination, gather employee performance reviews, correspondence with the employee, and any written warnings that may have been issued.  In the case of a layoff, you may look into any paperwork required for severance pay and/or an extension of benefits.

2.    Make it legal. Whether you’re terminating or laying off an employee, you should consult with a lawyer in order to make sure that the process you follow is legal and will protect you from future lawsuits should a disgruntled employee decide to sue.  Also ensure that all necessary documentation has been gathered and filled out.  Your lawyer will probably offer you additional advice before meeting with the employee.

3.    Work out the details. Before meeting with the employee, you should work out all necessary details.  As mentioned previously, predetermine any type of severance package you plan to offer; the details of such a severance package should be based upon company policy or lawyer recommendation.  Also consider how long the employee will work for you before the termination is final.  Often, employers give the employee the option of working for the remainder of the week, or leaving immediately.  As long as the employee does not become violent or belligerent, you should not require an immediate vacation of the premises.

4.    Provide reasons, but don’t belabor the point. As soon as you know that termination is eminent, you should take measures to schedule an appointment with the employee. If possible, invite a human resource representative to witness the termination. Also avoid creating a tense and adverse environment for this meeting.  It should begin with reasons for the termination which are clear and to the point, however don’t belabor the discussion.  And while the employee may definitely want to voice a response, this meeting should not become a debate or negotiation.

Terminating an employee can be one of the most difficult things you do as a small business owner.  However, it’s often necessary to ensure the success of your practice.  One thing that could help is to offer employee training; it could boost performance and solidify an understanding of employer expectations.

UAC Offers Onsite Employee Training

UAC has been training professionals for 30 years in bookkeeping, accounting and tax services.  We know what your clients need; we know what your business needs.  And a knowledgeable, trained staff will do wonders for your bottom line.  Whether it be business management, accounting, or tax training, we can provide complete, onsite training for your employees.  And regardless of their positions, we can help them understand how their work contributes to your business model.  Learn more by visiting UAC’s website today!

Return next week when we’ll be covering the final 5 steps in properly terminating an employee:

5.    Don’t blame or apologize

6.    Express gratitude for work done

7.    Let the employee respond

8.    Wrap up loose ends

9.    Note lessons learned

Resources

“How to Fire an Employee.” AllBusiness.com

Lolito, Michael J.  “How to Respectfully Terminate Employees.” 18 August 2008  Entrepreneur.com

Have you ever been to a home that was last decorated in the 1970’s?  How could you tell?  Did the shag carpet give it away?  Or maybe the mustard yellow countertops?  Or was it the dark wood paneling in the basement?

Most people can tell when you’ve neglected a “look,” be it for your home, your wardrobe or even your business.  Unfortunately, when you neglect your business’s marketing materials for too long, your brand becomes tired and worn and your look suggests dated services and an old fashioned approach to financial management.

Your Brand

A brand is what sets a business apart.  When you “brand” your small business, you market it in such a way that anyone seeing your promotions will recognize them as belonging to your products and services.  If you have branded your business based on the quality of services you offer, all your promotional materials should somehow share that message.  And if you designed your website using two colors, those colors should also be found on your print materials, your business cards, and your signage.

So whether you’re establishing your brand for the first time or giving it a new look, you should consider the following two tips, as taken from Emma Johnson’s article entitled “Brand Makeovers”:

1. Broaden Appeal

Before the iPod, the iMac, and iTunes, Apple was considered a limited brand with a narrow consumer base.  That’s hard to believe now, where just about everyone has an iPod.  To achieve that widespread appeal, Apple updated their brand by marketing their new products to a broader demographic.

Perhaps you began your practice by offering specialized services to a narrow market.  As you revise your brand, consider following Apple’s lead by broadening your appeal.  You do this by making your services more accessible to a larger consumer base; what do you have to offer both the small dry cleaner down the street and the gym franchise that’s statewide?  Your brand should reflect your desire to offer accounting solutions to all businesses.

2. Differentiate

Update your brand to stand out from the competition.  You do this by differentiating your services from the pack.  Johnson uses Target as an example of a discount store that differentiated its brand as the one with high-style, fashion-forward products.  The result is a popular discount chain that attracts consumers interested in quality products with reasonable prices.

When you differentiate your brand you focus on those elements that set you apart from the competition.  Whether it be price, customer service or service offerings, you want your brand to appear unique and matchless.

All businesses need a makeover now and then.  Is yours due?  Consider these two approaches in revising your brand so that you can increase your appeal to more prospective clients.

More Than One Way to Market Your Practice

Branding is just one way to promote your business.  And if you want to grow your accounting practice, you’re probably interested in other, more effective ways of attracting new clients.  Unfortunately, many accountants and bookkeepers are unaware of how to market their services effectively.  That’s why, for 30 years, Universal Accounting Center has been training professionals like you how to promote their businesses.  The Universal Practice Builder program will train you in the following (and much more):

• Increasing your annualized billings by $30,000 within the next 12 months
• 12 proven marketing strategies that will increase your client base
• Techniques that can generate 15 to 25 qualified leads per month
• Creating your own customized marketing plan
• Effective phone marketing techniques

In a matter of hours, you will know exactly what you need to do to grow your business.  Advance your accounting practice to the next level and become the premier firm in your area.  To learn more, visit our website and listen to testimonials of our very own graduates, sharing what they found most valuable in this program.

Resource

Johnson, Emma.  “Brand Makeovers: 3 Lessons in Reinvention.”  24 November 2008  Entreprenteur.com

In this economy, the race isn’t won by the quickest, but by the most agile.  As you rethink your business, consider your flexibility.  Unlike large corporations that are unable to quickly change course, small businesses have the advantage of being quick and nimble, which just might be their saving grace.

The current recession is requiring many entrepreneurs to adapt and evolve their businesses, altering their approach to better suit the ever-changing market and consumer needs.  So stretch yourself as you consider how you might improve your flexibility by applying the following four tips.

1. Take advantage of technology

If you’re not careful, you could miss the technology train and all the great, economical marketing techniques that go with it.  The following two suggestions will lure the technologically savvy and/or those that are impressed with your ability to remain current:

Build a Business website. If you don’t already have a website, you should get one.  Progressive businesses have an internet presence; it speaks volumes of their professionalism and ability to keep up with current trends.  A good website will represent you well and increase your clientele.  It will also work 24/7 as a virtual receptionist, getting the word out about your business while you spend your time doing what you do best: accounting.  And if well developed, your business website can act as an inexpensive marketing tool and a good point of contact.  It can also help to further brand your business.

Universal Accounting Center (UAC) has a website development tool, available exclusively for accounting, tax, and bookkeeping professionals.  Visit our Accountweb site to learn more about how you can have a website of your own in a matter of days.

Take advantage of social networking.  From Facebook to Twitter, more and more businesses are taking advantage of social networking tools in order to broadcast news about their services, and most of these tools are free!

2. Rethink your marketing strategy

The same old approach you’ve used in the past probably isn’t very effective in this current financial climate. If you build a business website and take advantage of social networking, you’re on the right path.  Also consider other demographics that might now find your financial services especially helpful.  And don’t give up on prospects.  The recession has caused many to be more selective when it comes to spending their money; often this means that prospects take longer to commit. 

3. Listen to your clients

They can best tell you how to alter your approach in order to better suit their current needs.  Tap into their expertise as consumers to determine what they’re most concerned about; while you may not consider this a service your currently offer, you would be surprised at how appreciative your clients become when you resolve their financial concerns.  And isn’t that your expertise?

4. Expand your services

In listening to your clients and trying to better meet their needs, you will find that many desire you to expand your services.  Becoming a one-stop financial shop would be much more convenient for them, and lucrative for you!  Adding tax preparation services to your menu will increase your clientele while making your services more appealing to current clients.

The Professional Tax Preparer Program!

Universal Accounting Center’s tax preparer program contains all of the following:

• Video Instruction
• Full 1040
• Full Business Returns (1065, 1120, 1120S)
• Step-by-step instruction in starting a sole practitioner
• One Year Follow-up Support from expert tax preparers

And while many programs will lecture you on tax law and preparation practices, Universal’s program is effective because it provides the practical application that will perfect your skills.  Theory is taught as guiding principles, but the focus is on actually doing taxes to gain proficiency.

The PTP course consists of 20 hours of video training. Most tax preparation courses include books and some worksheets. Our training is very engaging and entertaining as seasoned tax preparers give practical advice on not only tax issues, but provide real-world solutions to give you the edge in productivity and profitability. Our instructors know what challenges you will face because they have been there themselves.

To be honest, you don’t need a Professional Tax Preparer designation to prepare taxes.  Currently, there are no qualifications for any individual to complete tax returns.  But in today’s world of complex tax laws and increasing tax fraud occurrences, tax payers are looking for specialists with credentials.  It affords clients peace of mind to know that the individual they’re working with is qualified and knowledgeable.  It also affords the tax preparer peace of mind to know they’ve been properly trained.  Universal recognizes the value of a professional designation and awards the Professional Tax Preparer designation to those who successfully complete the program.

Modules in the Professional Tax Preparer program include the following:

Module 1: Establishing the Tax Foundation

Module 2: Becoming the 1040 Expert

Module 3: Profitable Business Returns

Module 4: Building Your Successful Tax Practic

In just 20 hours you will be ready to face tax season with confidence and ease.  One tax season alone will prove lucrative enough to pay for the program 3 times over!  Increase your flexibility, and enroll in the Professional Tax Preparer Program today!

McDonald’s is one of the few chains that has continued to thrive despite the economic recession.  While other big corporations have lost their handle on success, McDonald’s has supersized theirs with what they call a “Plan to Win” strategy that has helped them experience continued growth for a number of years.  In his article on Bnet, Stuart Cross reveals three factors that help McDonalds achieve what has been impossible for many other big businesses during this economic downturn: supersized success.  Many small businesses could learn from their McExample by ensuring their practices have the following three characteristics:

1. Operating Excellence

Who hasn’t experienced lunch hour at McDonalds?  My family’s most recent trip found us in a line that seemed to promise an especially long wait considering the three hungry children bouncing around my back seat.  But it wasn’t long before that long line split into two, and at the start of line #2 I was met by a happy employee, outfitted with a simple walkie talkie, ready to take my order.  This particular McDonalds wasn’t equipped with two ordering kiosks like some you may find in bigger cities, but that didn’t stop management from minimizing our wait with this backup plan.

While once a jingle for a commercial, McDonalds maintains operational excellence by “keeping their eyes on the fries.”  From the CEO, to franchise owners, to suppliers, to employees, everyone member of the McDonalds team is programmed to function at top efficiency and effectiveness.  And while other franchises may lack this characteristic, most consumers think first of McDonalds when they think of “fast” food.

2. Distinctiveness

Speaking of those same three children bouncing in my back seat, they each recognized those golden arches from a very young age.   We didn’t frequent McDonalds very often, but I quickly realized that their branding efforts-from TV commercials to billboards to jingles aired on the radio-had already made quite the impression on these toddlers.  Years in business has taught McDonalds how to market their services to the right demographic, maintaining a solid brand that appeals to just the right consumers.

3. Agility

You can always order the old standbys: Big Mac, Filet O’ Fish, Quarter Pounder, french fries.  But McDonalds realized that as times changed, their menu would have to change as well.  Not only have they added a latte line that rivals Starbucks, but their menu also includes specialty salads and sandwiches that appeal to a wider consumer base.  This agility has enabled them to broaden their appeal while still servicing those that prefer the options that first launched McDonalds to success in 1940.

So how does your business measure up?  While you may not be running a fast food franchise, could your practice benefit by improving operational excellence, distinctiveness and agility?  Learn from McDonalds and supersize your success by making these three characteristics your new “Plan to Win” strategy.

Improve Your Agility by Adding Tax Preparation to Your Menu!

Practically every adult and small business in the nation is required by law to submit a tax return.  And the growing complexity of tax laws drives many of them to professional tax preparers who are better equipped to complete these returns.  You increase the agility of your accounting practice by adding this lucrative service to your offerings.  Not only will it enhance your appeal to current and prospective clients, but it will significantly increase your profitability as you will be able to charge $100/hour preparing tax returns.

UAC’s Professional Tax Preparer (PTP) Program will teach you how to prepare practically every type of individual and business return you may encounter.  These hands-on training materials are loaded with valuable and varied examples of real tax issues, and in each of the 32 training sessions you will prepare at least one tax return.  You need not wait to retain your first client before accumulating real-life experience in tax preparation.  Increase your agility by enrolling in the Professional Tax Preparer Program today!

Resource

Cross, Stuart.  “The McSecrets of their McSuccess.” 11 August 2009.  Bnet.com

How Saying Less Could Lead to More Sales

Do you spend much of your marketing efforts composing countless pitches that you disperse to current and prospective clients?  While you may find this enables you to attract business here and there, a more efficient approach may be found in composing the pithy pitch-a promotional piece designed to break marketing conventions by driving to the point more quickly while demonstrating your professional value.  In his article entitled “Ditch Your Desperate Marketing,” David Seaman gives a few pointers in creating the perfect pitch:

1.   Stop groveling

Please!  Stop begging for business.  You may think it earns you sympathy while creating a small-town image of another business suffering from the recession.  It just makes your business look pathetic.  No one’s going to retain your services simply because you’re down and out, needy, or on the brink.  They’re going to retain your services because you’re good at what you do and you do it often.

 2.   Exude confidence

Akin to number one, when you believe that your services enhance a client’s business you’re able to promote your practice without begging or apologizing.  Recognize that you offer incredible value to each and every prospect you encounter.  Knowing that will enable you to exude confidence, thus convincing your contacts that they can trust you with their finances.

 3.   Change your purpose

Consider changing your focus from closing the sale to providing indispensible information.  Seaman explains, “…rather than send needy static pitches, send out carefully written pieces of advice that are likely to be circulated forever… Instead of writing primarily to close the sale…, write primarily to impress and excite the reader.”  While his focus here may be on promotional newsletters, it’s a tip that could be applied to practically any marketing technique.  Also, when you’re able to share practical information with a prospect, your professional value increases.

 4.   Eliminate wordiness

We’ve all encountered sales pitches that go on and on and on.  We’ve also read promotions that say the same thing two, three and even four times.  Trust your readers to be smarter than the average consumer; compose pointed and concise pitches.

 5.   Take your time

It’s okay to take time to craft a thoughtful and well-rehearsed sales pitch.  In fact, you may consider sharing your pitch with experienced consumers-your family and friends.  They can provide helpful feedback that will enable you to revise and hone your promotion until it’s pitch-perfect.

While your sales pitch shouldn’t fit inside a fortune cookie, you may find that a more pithy approach is a much more effective use of your time.  By applying the above tips, you’ll quickly discover how less can indeed mean more.

The Professional Bookkeeper’s Guide to QuickBooks

Sometimes enhancing your sales pitch can be as simple as enhancing your service offerings.  We’re guessing you’re already aware that 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.  UAC’s Professional Bookkeepers Guide to Quickbooks will enable you to work more efficiently by using all the features and shortcuts this software offers.  Add to that your ability to add QuickBooks consulting, setup, and help services to your menu, and you have a risk-free venture.

Take advantage of this opportunity to increase your efficiency, your bottom line, and your sales pitch by enrolling the in the Professional Bookkeepers Guide to QuickBooks today!

Resources

Seaman, David.  “Ditch Your Desperate Marketing.”  22 July 2009  Entrepreneur.com

In a recent post to his BussinessWeek blog, Carmine Gallo sat down with Steuart Martens, a regional training instructor for Sonic Automotive who believes active listening is the best way to secure new customers.  Martens began by explaining, “You sell the person first, the car second.”  This is his foundation to four sales tips that have one thing in common: active listening.

First, what is active listening?  It’s when your main objective throughout the course of a conversation is to attend to the speaker.  What is he/she truly saying?  What motivates him/her to say those things?  What is his/her body language revealing about their thoughts and feelings?  Once you’re able to truly listen to a prospective client, what you say becomes much more powerful.  With that in mind, here are Martens’ four sales tips:

1. Paraphrase your prospective client

Not only does this indicate to the speaker that you are listening, but it also helps you know that you have understood what has been said. This one step alone can eliminate much misunderstanding and help you to appreciate the speaker’s greatest concerns, interests and needs.

2. Ask discovery questions

In order for a prospective client to become a client, you must understand their situation, which requires you to ask the right questions at the right time.  A prospective client may think they only need payroll services, but upon asking the right questions, you may discover that they are experiencing financial difficulty because they have cash-flow problems.  However, in order to earn the right to ask certain questions you must secure the prospect’s trust.  Martens explains, “When asking discovery questions, it’s important to start with ‘low-trust’ questions before moving to ‘high-trust’.”  ‘What accounting services are you most interested in?’ would be an example of a low-trust question while ‘What kinds of financial struggles are you experiencing in your business?’ is a high-trust question.

3. Watch body language

Is your prospect antsy and agitated or still and thoughtful?  Watching their body language can often be more informative than listening to what’s being said.

4. Take notes

While it would be nice to secure a prospect as a client in your first meeting, odds are that won’t happen very often.  It’s important that you take notes during your conversation so that you can remember key points the next time you meet.  This will build a prospect’s trust and enable you to move your relationship forward more quickly.

Active listening is a simple skill that enables you to focus your attention on a prospect by communicating a genuine concern for their needs.  The more you practice this skill, the more quickly you will secure a prospect’s trust.  And the more quickly you secure a prospect’s trust, the more quickly that prospect will become a client.

Let Universal Inspire Your Entrepreneurial Spirit

If you need a little inspiration to kick your entrepreneurial spirit into high gear, we suggest you consider working with UAC’s motivation speakers.  Universal Accounting Center has some exceptional speakers on staff who can motivate you and your team to excel.  With a number of individuals experienced in a variety of topics, they can help you better serve your clients, better market your practice, and better grow your wealth.  Learn more about Universal Accounting Center’s speaker and book one for your next event!

Resource

Gallo, Carmine.  “The Basics: Four Sales Tips.” 21 July 2009.  BusinessWeek.com