Accounting and Bookkeeping Articles

Reading is to the mind what exercise is to the body. – Joseph Addison

That is a good book which is opened with expectation and closed in profit. – Amos Bronson Alcott

A book is a garden, an orchard, a storehouse, a party, a company by the way, a counselor, a multitude of counselors. – Henry Ward Beecher

Reading books on small business trends can help you maintain that competitive advantage.  Often current publications can help you understand and apply solid business principles that can help you personally and professionally.  So it’s that time of year when we provide you with a list of recommended reading to round out your summer and, perhaps, help bolster your business.

The Small Business Start-Up Kit: A Step-by-Step Legal Guide by Peri Pakroo (Nolo, March 2010).  In its sixth printing, this book includes the latest legal information on small business management.  You can read about choosing the best business structure, writing an effective business plan, filing the right forms, pricing your services, managing your finances and more.

Duct Tape Marketing: The World’s Most Practical Small Business Marketing Guide by John Jantsch (Thomas Nelson, January 2007).  Most financial professionals are great with numbers and poor with public relations.  Duct Tape Marketing is intended to help small business owners build a solid clientele by using basic marketing techniques.  Jantsch provides readers with a step-by-step marketing system intended to demonstrate how the small business owner can market products and/or services in an economical and successful manner.

Conquer the Chaos: How to Grow a Successful Small Business without Going Crazy by Clate Mask, Scott Martineau, and Michael Gerber (Wiley, June 2010). You probably already know that running your own business can be chaotic.  As you try to manage all the necessary faucets of a successful practice, you’re probably finding yourself spread thin.  This book is designed to help you bring order to your business by applying six practical strategies.  As the inside flap explains, “A one-stop turnaround plan, Conquer the Chaos lays out a complete path to make your business run smoothly and provide you with the freedom you desire. This realistic, in-the-trenches guide offers six strategies that, when combined, give you a step-by-step approach for reaching entrepreneurial success.”

Crush It!: Why NOW is the Time to Cash in on Your Passion by Gary Vaynerchuk (HarperStudio, October 2009).  Vaynerchuk, an entrepreneur who took over his father’s business and substantially increased its profitability, explains how to use social media to build a business based on your passion.

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

The recession is hitting small businesses hard, and many 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 contract accountant.  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.

Peer pressure has gotten a bad rap.  It carries a negative connotation implying that people are swayed to do things contrary to their own well being.  However, there is such a thing as positive peer pressure which implies that people are swayed to do things beneficial to their own well being and, perhaps, the profitability of their businesses.  We’d like to consider how professional peer pressure can encourage you to reach greater heights while enjoying the camaraderie of your peers.  Here are four ways that peer pressure can be a positive force in your life:

1. A catalyst for change.

As you interact with your peers, you will discover that not everyone does things the same way you do.  This can introduce fresh and innovative ways to complete tasks, resolve problems, and encourage growth.

2. Motivation for improvement.

All businesses can benefit from a healthy dose of competition.  It encourages renewed focus, additional effort and creative thinking.  This can come from interacting with other professionals like yourself as you attempt to become the most prominent accountant in the field.

3. Networking opportunities.

You may live in Salt Lake City, Utah and meet an accountant from St. George.  That accountant may have friends and family in Salt Lake that he or she can’t serve due to distance.  However, if you develop a good relationship with that accountant, he or she may be able to refer prospective clients your way and visa versa.

4. Desire to help and be helped.

In addition to encouraging healthy competition, peer pressure can expose you to individuals with whom you can build synergistic relationships where you help others and are helped in return.   Often your peers can help you create the most favorable support group for you and your business.

Peer pressure doesn’t have to be negative.  We’re all grown-ups here, right?  We can recognize and appreciate the skill and expertise we see in others and use that as motivation to improve ourselves.  In addition, the interaction we experience with our peers can be both emotionally and monetarily rewarding.

Find Positive Peer Pressure at the Universal Accounting Conference

To experience positive peer pressure while learning business-building skills, attend the Universal Accounting Conference next month.  You could attend sessions on the following topics:

• Getting Started with Office Technology
• Networking and Relationship Strategies
• Planning Practice Growth
• The Power of Presence: Your Ultimate Marketing Channel
• Becoming a Profit Expert with Business Benchmarking Reports
• Technology Strategies for the Growing Office
• Working through Resistance
• Phenomenal Women in Business
• Smart Staffing Strategies to Work Less and Make More
• Personality Profiles and Profit
• How to Find and Create Expanded Service Opportunities
• Tax Practice Administration
• Introduction to Social Media
• How the Right Client Feedback will Perfect Your Practice
• Future of the Accounting/Financial Services Industry
• From Friend to Fortunate: Making Social Media Pay

Often the best way to improve your business is by attending a conference that covers powerful topics with practical information you can apply immediately.  Not to mention you will be given the priceless opportunity to interact and engage with your peers.  The Universal Accounting Conference will be held on September 20-21 in Salt Lake City, Utah.  Change the face of your business in two short days.  Register now before we reach enrollment capacity!

Family businesses: they seem to work really well or fail miserably.  That’s not to say that family-run businesses can’t be highly rewarding and lucrative.  However, if you’re participating in a family business, it’s important that you understand what you’re up against.  Working with relatives can be tricky unless you have a game plan—a series of rules to live by in order to achieve maximum success.  Here we provide you with six Dos and Don’ts in running an efficient family business:

1. DO create a hierarchy. In an Entrepreneur.com article entitled “Don’t Let Family Drama Derail Your Business,” author Karin Price Mueller gives this tip to ensure that family businesses have a clear chain of command and well-defined job descriptions for each employee.  She quotes David Levi, managing director of a professional services company, explaining the importance of this step: “It is critical for all parties, family and nonfamily, to know that Dad may be in charge of the family, but the sister is in charge of sales at the office.”

Without this clear hierarchy, family and nonfamily employees will not know who they report too, and productivity will be compromised considerably as a result.

2. DON’T create alliances among family members. This factor often contributes to the failure of family-run businesses.  When members of a family business begin keeping secrets from certain factions, creating alliances and excluding individuals from crucial business decisions, a division results that can destroy a company.

3. DO communicate. It’s no accident that this tip follows the one discouraging family alliances.  In order to avoid poor business etiquette that can seep into family-run organizations, it’s important to have open lines of communication.  As with any business, you should have regular managerial and staff meetings to ensure that everyone is on the same page.  Also, create email groups so that business correspondence is sure to travel to all vested parties.

4. DON’T hire unqualified relatives. Family-run businesses can become the island of misfit employees if you’re not careful.  They are often the go-to business when Cousin Joe is down on his luck again, and your relatives believe you certainly have something that can keep him busy and employed.  Don’t get caught in that trap!  Just like any other viable business, you must hire qualified and trustworthy employees.  Hard as it may be, you shouldn’t lower your expectations in order to hire relatives.

5. DO have a succession plan. You may think you or your father or your great uncle Richard will run the company indefinitely, but the truth is, situations and circumstances change, and a company will be more likely to survive those changes if a succession plan is firmly in place.  Mueller suggests hiring an estate planning attorney to create this plan and organize all necessary documents.

6. DON’T create arbitrary compensation plans. Employees should be paid according to their expertise and overall company contribution.  If Cousin Joe, the guy who’s down on his luck, begins making more than a long-term employee with considerable expertise and experience, one could argue that this relative is receiving preferential treatment.  Don’t put yourself in such a precarious legal and ethical position.  Create a compensation chart, with the help of a professional if  necessary, and follow it strictly.

Family businesses can be lucrative and fulfilling ventures, but only when handled properly.  Take the necessary precautions to ensure that your family business is in the best position to succeed, with all those involved.

Join the Discussion

When it comes to topics like this one, it can be difficult to find a group of small business owners with whom you can ask questions, share insights, and offer advice.  Luckily there are online discussions groups, listservs and forums to help you connect with these individuals.  Universal Accounting Center has developed a forum for financial professionals to provide just that community environment for which you may have been searching.  Please join us and make our community stronger, and to “talk” about issues that matter to you.  Members are free to ask questions, provide resources and take advantage of the resources others may offer.  Join us today!

Resources

David, John.  “Governing the Family-Run Business.” 4 September 2001  Harvard Business School: Working Knowledge Online

Mueller, Karin Price.  “Don’t Let Family Drama Derail Your Business: 5 Must-Dos for Minimizing Conflict in a Family-Run Business.” 20 May 2010  Entrepreneur.com

In this economic climate, it’s important to maintain you competitive advantage in order to enjoy job security or, if you’re in business for yourself, attract more clients.  One way to do that is to by enhancing your skill set and knowledge base with additional schooling and/or training.

Depending on your objectives, there are many benefits to continuing education.  And regardless of your plans, there’s really no down-side to learning more about financial management, the best way to market those skills, and the software that will help you accomplish your professional goals.  Here’s just a sampling of how continuing education could benefit you:

Better Trained Staff with Greater Employee Retention

If you’re running an accounting practice with a staff of employees, offering them complementary training will accomplish three things.  One, your clients will be working with better-trained staff.  This improves your business’s credibility and appeal.  Second, it demonstrates your dedication to the excellence of your accounting practice and the services your offer.  And third, when you provide employees with educational benefits, retention increases.

Promotional Opportunities

If you’re not self-employed, acquiring new skills will increase your value with a current employer while increasing your appeal to prospective employers.  Acquiring new skills is a personal investment that will produce big returns in your career.  It also displays a continual interest in self-improvement for yourself and your employer.  What boss wouldn’t be impressed by the proactive employee improving his/her skill set?

Industry Updates

This is one industry where being uninformed is detrimental to your career. For example, if you offer tax services, tax laws are continually changing.  Training enables you to stay abreast of these changes, safeguarding clients from potential audits while maintaining confidence in your own expertise.

CPE Credits

Depending on your occupation, you may be required to earn CPE credits in order to maintain your professional legitimacy.  In this case, continuing education becomes a necessity rather than a nicety.  Looking for programs that will help you develop the skills and expertise you’re seeking, in addition to earning the credits you need, is extremely important.

With an abundance of training programs available, it can be overwhelming to find the one that will help you accomplish your objectives.  You should look for a program with longevity that offers professional certification and has an abundance of satisfied graduates.  Then if the program specifications meet your needs, you’ve found the right one for you.

Look to UAC for All Your Training Needs

From accounting to tax to QuickBooks software, Universal Accounting offers training that’s guaranteed to help you improve your career.  Universal has been training professionals like you for 30 years, and we have hundreds of satisfied graduates who have used that training to catapult their careers.  Take a minute to peruse Universal Accounting Center’s catalogue to see which of our products can best benefit you.  From training materials to business books to manuals to informative DVDs, we have something that will satisfy your professional needs.  Visit Universal Accounting today!

My friend recently interviewed for a job which had over 80 applicants.  Three others that I know are dropping everything to accept jobs in Guam, Massachusetts and Oregon, each of which is hundreds, if not thousands, of miles from where they currently live.  Some are temporarily leaving families behind in hopes of finding something more stable and lucrative than what’s locally available.

Unemployment rates continue to rise, indicating that perhaps the economy isn’t yet on the rebound.  This means that the competition for current job openings is severe.   These days, having a friend look over your resume or asking a contact put in a good word for you may not be enough to measure up and secure a good position.  In times like these, job placement services can be extremely valuable.

Universal Accounting Center Offers Supreme Support

Universal has always offered stellar support services for those who are currently enrolled or have recently graduated from our programs.  These individuals are given access to a Personal Achievement Coach who can answer questions about the training progras, accounting and tax preparation and other related issues.  These coaches are there to provide answers, support and encouragement.  Here’s what former student Renee Latimer had to say about her experience with support coach Bill Brough:

Bill Brough has been an integral part of the success that I am enjoying today.  His constant support and encouragement during those times that I was overwhelmed with the volume of course material and faced with self-doubt were extremely helpful.  He was always available to answer questions, get me thinking on the right track or provide a funny anecdote or real life experience which kept my spirits and kept me moving forward towards my goals.  He never stopped believing in me, and this helped me believe in myself.

Universal’s support program also includes the following job placement services:

• Resume Preparation – Assistance, via email, reviewing and developing a resume for the purpose of securing interviews

• Resume Placement Assistance – Help identifying possible employers and accounting-related positions by following a weekly routine

• Interviewing Technique Review – Role play advice and suggestions in improving the success of job interviews

You chave access to these services throughout the follow-up support period that comes with each of our programs.  During that time you can contact your Personal Achievement Coach as often as necessary, taking advantage of their knowledge, experience and expertise.

In this economy, job placement services could be just what you need to help you secure a lucrative position in this competitive market.  Students and/or graduates of Universal’s Professional Bookkeeper Program, Professional Tax Preparer Program and Professional Bookkeeper’s Guide to QuickBooks are eligible for these job placement services.  Not only will you receive specialized training that would make you a more appealing job applicant, but you will receive guidance from a Personal Achievement coach to help you present yourself and your newly acquired skill-set in the most appealing way.  Visit Universal Accounting Center to learn more about these programs today!

We welcome your feedback on this and other articles you find here.

There can be a lot of perks in working from home.  In fact, many business owners may have launched their startups based on all the advantages they perceived in being self-employed.  But for those who are considering the transition, it’s important to have a reality check before giving your two-week’s notice.  Here are five things you should be aware of before you start working from home.

1. The self-employed are self-disciplined. Howard Hook, a certified financial planner and public accountant in Roseland, N.J. says, “If you are not disciplined enough, you can be much more inefficient than if you were at work.”  When preparing to work from home, consider that there will probably be more distractions there than there ever could be in a cubicle.  Many want to work from home because they love the idea of logging billable hours in their pajamas.  Unfortunately, many do not possess the self-discipline require to actually work when they could be surfing the internet or watching day-time television.  There are plenty of interruptions you’ll have to manage in your home office.

2. The watercooler is gone. The social interaction found in a traditional work environment can be gratifying for many.  However, when working from home, that adult interaction is reduced to a minimum, and while you will interact with clients, those relationships may not be as personal or extensive as you would like.  For those that thrive on social interaction, this will be something to consider before taking the leap.

3. There’s no paid vacation or personal days.  While on an extended family vacation to the Oregon coast, I awoke at 5am every week day in order to get some work done.  My family balked at my version of “vacation.”  Unfortunately, because I am self-employed with deadlines to meet, I did not have the luxury of getting paid time-off, a detail many of those eyeing self employment will want to consider.

4. Beware of the tax requirements. Claiming a home office is not a red flag for the IRS like it once was.  It’s more common for individuals to claim a home office these days, especially since nearly half of small businesses are operated from owners’ homes. So when working from home it’s important to take advantage of home office tax breaks.   However, qualifying can be tricky if you’re unaware of the IRS’s requirements.  This one phrase, “regular and exclusive use,” is the requirement to which you must pay particular attention.  The area in which you conduct business must only be used for business purposes.  And the IRS is serious about this detail.  In an article on SmartMoney.com, Martin Nissenbaum, National Director of Personal Income Tax Planning at Ernst & Young, is quoted as saying, “Exclusively really does mean exclusively.  The rule is clear. You can use the space only for your trade or business. If you happen to have a TV set in there and you watch it while you’re working, fine. But if your kids play there and you use it as a den, you cannot take a home office deduction.”

5. Professionalism is still required. While your home environment may feel more relaxed, you are still required to act professionally.  And if clients are invited to your home office, it’s important that it provide a business atmosphere.  While it’s true that looks can be deceiving, many clients will judge your professional capability on the image your project.

We’re not trying to scare you away from self-employment with this reality check.  We are, however, helping you fully prepare to work from home.  When you’re able to clearly recognize both the pros and the cons, you’re better equipped for success.

Preparing to Launch Your Startup

It’s important to have all your ducks in a row before launching your home business.  Mastering software and honing your skills will enable you to be ready for whatever comes your way.

The Professional Bookkeeper’s Guide (PBG) to QuickBooks will enable you to master this software program that over 80% of small businesses use to manage their accounting.  Once you do, you will be able to work more efficiently as you use all the features, functions, and shortcuts QuickBooks offers.  Not only will the PBG enable you to manage your own books more efficiently, but it can increase your bottom line as you add QuickBooks consultation, help and setup services to your menu.  With hands-on training you can earn a professional designation as a QuickBooks Specialist that will give you the creditability you need to convince prospective clients that you are an outstanding bookkeeper!

With just one small initial investment, you can increase your income and your clientele.  Order now!

We welcome and encourage your questions and comments!  Please let us know what you think of this article.

Resources

McCuan, Jess.  “Setting up a Home Office that Qualifies for Tax Breaks.” 6 June 2007.  SmartMoney.com.

Mueller, Karin Price.  “How to Create a Productive Home Office Space.” 2 April 2010  Entrepreneur.com

You will either step forward into growth or you will step back into safety. – Abraham Maslow

Inside of you is a business tycoon waiting to break free.  Do you believe it?  If not, your business may be struggling because you don’t yet believe in your own ability to succeed, and success stems largely from what we belief about ourselves.  When your beliefs are limiting, you become trapped in a drab existence where you barely eke out a living.  Until you change that believe, you’re unlikely to experience substantial growth and profitability come two, five, or even twenty years.  However, if you believe that your business is a raving success in work clothes, then you’re on the right track.

Once you establish that core believe, you can easily grow your business by adding complementary services to your offerings.

Offer Complementary Services

If you intend to continue your business only offering accounting services, then to grow that business you must draw more clients who need those services.  That’s doable, but there are other, more effective ways to build your business.  Consider this; if you were to add complementary services, like tax preparation, QuickBooks consulting, loan application services, and business turnaround help, your current clients are likely to request some of those services as well.  Without sending out fliers, postcards, or doing one radio commercial, you could increase your billable hours simply by informing current clients of your expanded offerings.

Tax Preparation and Planning

Many tax preparers make more money in the months leading up to the April 15 tax deadline than others do all year long!  Not only that, but tax preparation is another financial skill in high demand since all individuals and businesses alike, small or large, are required to file taxes. And many of your accounting clients would be happy to have you file their taxes as well.

QuickBooks Consulting

QuickBooks is, by far, the most popular accounting software on the market.  More than 80% of small businesses use it to manage their accounting.  However, these same businesses often need help setting up their companies and managing various tasks.  A QuickBooks Specialist can provide the assistance they need in optimizing this accounting software and all its features. When you consider that Intuit, the makers of QuicksBooks, charges $75 an incident and $349-$600 per year for support, you can see how easy it would be to offer your services for a more reasonable fee in order to serve clients in need of QuickBooks help. 

Loan Application Services

Business owners are often intimidated by the process of completing a loan application package.  There are a lot of required components and many would feel more comfortable if they could enlist the help of a financial professional before submitting their application.  You could add loan application services to your offerings as yet another complementary service that would appeal to your target market.

Business Turnaround Services

The survival rate of small businesses is low even in an ideal market; imagine what it’s like now?  Many small businesses are struggling and owners often need help in moving those businesses from the red into the black.  Offering turnaround services will enable you to become a valuable resource to many current and prospective clients.

David Sherwood, Universal Practice Development coach and motivational speaker, will be presenting on this same topic at the Universal Accounting Conference in Salt Lake City, UT over September 20^th-21^st.  In addition to Sherwood’s presentation, you can select from the following valuable topics:

• Getting Started with Office Technology
• Networking and Relationship Strategies
• Planning Practice Growth
• The Power of Presence: Your Ultimate Marketing Channel
• Becoming a Profit Expert with Business Benchmarking Reports
• Technology Strategies for the Growing Office
• Working through Resistance
• Phenomenal Women in Business
• Smart Staffing Strategies to Work Less and Make More
• How to Find and Create Expanded Service Opportunities
• Tax Practice Administration
• Introduction to Social Media
• How the Right Client Feedback will Perfect Your Practice
• Future of the Accounting/Financial Services Industry
• From Friend to Fortunate: Making Social Media Pay

If you need help injecting growth and profitability into your business, this conference is just what you require.  In two short days you will have everything you need to advance your business to the next level.  Not only that, but you will be able to network with other financial professionals who understand your concerns better than anyone.  Invest in yourself and your business, and register for the Universal Accounting Conference today! Early birds receive a discount of more than $100!

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

Focus more on your desire than on your doubt, and the dream will take care of itself. You may be surprised at how easily this happens. Your doubts are not as powerful as your desires, unless you make them so. — Marcia Wieder

The term “overachiever” generally has a negative connotation.  Some talk of overachievers as workaholics with no personal lives to speak of, while others imagine annoying professionals that are somewhat arrogant and a little too full of their own accomplishments.  However, Webster defines “overachiever” as “one who achieves success over and above the standard or expected level especially at an early age.”  If that’s the case, I’m guessing most of us wouldn’t mind becoming overachievers, again and again and again.  But what does it take?

1. Recognize your passion

Truly successful athletes can practice their sport for hours because they become lost in the game.  Some describe it as finding their groove, getting in the zone, or achieving “flow.”  This is a somewhat magical experience where skills are heightened and physical limitations cease to exist, as does time.  This same thing can be experienced by professionals who truly find their passion; they can achieve “flow” by working optimally while losing track of time because they simply enjoy what they’re doing.  If this is a common occurrence at your practice, then you’re on your way to becoming a true overachiever.

2. Recognize the tedium

It’s common to experience boredom every now and then, regardless of how passionate you may be about your work.  There’s always paperwork to be filed, reports to be run, and tasks on your To-Do list that don’t inspire.  However, that tedium should not consume your day.  If that boredom causes you to dread going to work each day, it may be time to reevaluate your career choice and point yourself in another professional direction.

3. Stay a little longer

In his Entrepreneur.com post entitled “5 Tips to Become a High-Achiever,” Scott Halford  shares this tip in outlasting, outsmarting and overachieving the competition.  He explains that in 1984, when Peter Vidmar led the US men’s Olympic gymnastics team to gold, the one thing Vidmar did differently from everyone else was stay and practice a little longer.  In order to become the premier accountant in your area you must do the equivalent.  Read that extra article, participate in that specialized training, call that one last client.

4. Focus your energy

As a child you may have focused the sun’s energy through a magnifying glass in order to start a small flame.  When you focus your own energy in the same way, you can accomplish great things in your professional life.  Try not to get bogged down by the tedious and unnecessary.  That’s distracting and will limit your potential.  Continually focus your energy on the big picture and where you want your business to go.  You’ll be amazed at how this alone will magnify your practice’s success.

5. Take action

You’ll never accomplish anything if you spend all your time just thinking about it.  Overachievers act again and again.  In fact, after a time it becomes a habit-creating business strategies and then acting on them.

6. Continually improve

The truly successful recognize the need to continually improve their skills which enables them to maintain that competitive advantage.  Seek opportunities to become the expert in your field.  It’s impossible to have too much expertise.

UAC’s Training Can Help

The Professional Bookkeeper (PB) Program is just the course you need to hone your skills and become specialized in small-business accounting, the most lucrative market for contract accountants.  In less than 60 hours you can learn everything you need to know to start your own accounting practice or improve the one you’re currently running.  The time is right to overachieve.  Take action today and enroll in UAC’s Professional Bookkeeper Program.

Resources

Halford, Scott.  “5 Tips to Become a High-Achiever.” 29 June 2009  Entrepreneur.com

When you brand your business, you make it easily identifiable by all prospective clients.  When used effectively, branding is a great marketing tool.  You can either brand your business strategically or let it happen by accident.  We suggest you take deliberate steps to brand your practice in order to get more positive exposure.  Here are 6 ways to brand your business like a super star:

1. Website

Competitive businesses have professional websites.  If you don’t have one, you should invest in one soon.  Current and prospective clients appreciate learning more about your business and your services through a reliable website.  You want your business to stand out from the competition, and this is one way to do that.  Ensure that your business name, logo, and mission are clear.  These characteristics will typify your brand and make it recognizable.

2. Memorable Numbers

Scott Gerber, author of a recent post on Entrepreneur.com, suggests using vanity numbers in order to better brand your business and make your practice more memorable.  It sounds campy, but many businesses are memorable because their phone numbers are impossible to forget.  1-800-account is easy to recall long after a prospective client sees your advertisement in the phone book or hears it on the radio.

3. Automated Phone System

Gerber also suggests getting an automated phone system.  Using toll-free numbers and virtual assistants, your small business will sound like an upscale, big business.  Even though you may be working from your home office, when using an automated phone system, your current and prospective clients will imagine a more professional storefront.

4. Business Card

Every professional recognizes the value of a business card, but have you used your business card as another means to fortify your brand?  Like everything else about your accounting practice, your business card should stand out and make a memorable impression.  Use color, high-quality paper, and even size to differentiate your business card from the rest; the cost will be well worth it.  Also remember to carry your theme (logo, slogan, etc.) throughout your business card as well.

5. Corporate Overview

In an article entitled “9 Branding Tips for Small Businesses,” Nick Rice suggests creating a corporate overview to leave with all prospective clients.  This one page document shares your mission, your target market, your service benefits and your contact information.  This will provide individuals with something to which they can later refer.

6. Community Participation

Rice also suggests participating in community events to gain more visibility and to solidify your reputation as a business owner interested in supporting local residents and services.

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 over 25 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.  Enroll today!

Resources

Gerber, Scott.  “Look Like a Multimillion Dollar Brand.” 16 April 2009.  Entrepreneur.com

Rice, Nick.  “9 Branding Tips for Small Businesses.” 24 January 2007.  Smallbusinessbranding.com