Accounting and Bookkeeping Articles

Your practice’s survival depends upon your ability to effectively promote your services.  But often, financial professionals are uncomfortable marketing themselves and are unaware of the best strategies in securing and retaining new clients.  In fact, many do not know how to differentiate between advertising and marketing—a simple distinction that could help many build better promotional campaigns.

Marketing consultant and strategist Laura Lake’s explains the difference in her About.com article entitled “Marketing vs. Advertising: What’s the Difference?”

“The best way to distinguish between advertising and marketing is to think of marketing as a pie, inside that pie you have slices of advertising, market research, media planning, public relations, product pricing, distribution, consumer support, sales strategy, and community involvement.  Advertising only equals one piece of the pie in the strategy.  All of these elements must not only work independently but they also must work together towards the bigger goals.  Marketing is a process that takes time and can involve hours of research for a marketing plan to be effective.  Think of marketing as everything that an organization does to facilitate an exchange between company and consumer.”

Your Marketing Plan

In order to develop that big promotional picture, you must develop a marketing plan which includes the following elements:

• Marketing Goals and Objectives
• Pricing of Products/Service
• Key Marketing Strategies
• Implementation of Your Marketing Plan

Your Marketing Plan establishes what you hope to accomplish through your overall marketing efforts and includes key strategies your plan to implement.  This may require you to do significant research in order to determine the realistic expectations for growth in a successful accounting practice.

Advertising

Advertising, then, is just part of the entire marketing process, or the big promotional picture.   Mary Cruse, in her AllBusiness.com article, defines it as “a persuasive, action-oriented message to convince consumers to buy a product or service.  Advertising is shorting in duration than a marketing campaign, which in part, may contain advertising components.”  Here’s a sampling of different advertising techniques: direct mailings (brochures, postcards, flyers, etc.), television advertisements, radio advertisements, print advertisements (in magazines, newspapers, local publications, the phone book, etc.), and website promotions.

Putting it All Together

But as a financial professional, how do you create the perfect marketing plan for your business, employing the right strategies for your field and target market?  Allow Universal Accounting to help with the Universal Practice Builder (UPB) Program.

For 30 years, Universal Accounting Center has been training professionals like you how to promote their businesses.  The UPB program will train you in the following (and much more):

• Creating your own customized marketing plan
• 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
• 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.  Build your business.  Enroll in the Universal Practice Builder Program today!

Resources

Cruse, Mary.  “The Reel Story.” 13 February 2010  AllBusiness.com

Lake, Laura.  “Marketing vs. Advertising: What’s the Difference?” About.com

According to Shwiff, Levy & Polo, a CPA firm in San Francisco, “Small business owners often do not realize their tax preparers, unlicensed and licensed, may be putting them at risk.  Both may give no advice-or even worse, incorrect advice-about complex tax laws, and only input numbers the owner provides into a tax preparation software program.  The small business owner in effect serves as their own tax advisor, while still paying the tax preparer for tax counsel.”

In concern, this firm issued five tips, which were published on WebCPA, to help small business owners avoid an audit. Here we review these tips in order to enable you better serve your clients by helping them avoid an IRS audit of their own.

1. Encourage your client to use accounting software to track their finances.

If you’re doing this for them, then they’re in good shape.  If you’re not, it’s important that you strongly recommend that they use this software to consistently input all financial transactions.

2. Verify that the tax preparer is licensed.

While legislation to regulate paid tax preparers is pending, currently unlicensed tax preparers are not required by law to have any tax training, or even a high school diploma, for that matter.  Scwiff, Levy & Polo recommends that clients use licensed tax preparers.  At Universal Accounting, we would suggest securing one that has received the Professional Tax Preparer designation.

3. Submit a list of questions.

The tax firm recommends that small business owners, “Submit [to their tax preparer] a list of questions to get the additional missing information and prove that review and analysis is being conducted.”

4. Secure proper documentation.

Have your clients require tax preparers to validate large deductions by securing the necessary documents from banks and brokerages.  This would be valuable documentation that could work to their benefit in the event of an audit.

5. Update the financial database.

After the tax return has been prepared, you client must require the tax preparer to provide a list of the adjusting journal entries so they can be added to the business owner’s financial database.

When you act as an accountant and financial advisor to your clients, you’ll find your value increases significantly when you can help them avoid an IRS audit.  In fact, it would help both you and your client tremendously if you received the proper training to become a tax preparer yourself!  That’s why we’ve added one final step to this already helpful list:

6. Enroll in the Professional Tax Preparer program.

Your practice will become even more appealing when you add tax preparation services to your menu.  Not only that but 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 perform the standard accounting services you currently provide.

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, mentioned previously, will put many of those individuals at ease, assuring them that you have been properly trained in tax preparation.

Make a New Year’s resolution to acquire the expertise necessary to become a Professional Tax Preparer.  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), 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 could make you the premier financial provider in your area.  Enroll in the Professional Tax Preparer Program today, and improve your competitive advantage while securing your business standing in the local community.

Resource

“Tips for Small Businesses on Avoiding an IRS Audit.” 11 November 2009  WebCPA

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

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

7 Tips to Turn Prospective Clients into Current Clients

Being able to close a sale is an essential skill for contract accountants.  Your practice will flounder if you’re not continually acquiring new clients, and you will be unable to acquire new clients if you’re unable to close a sale.  Last week we talked about 4 key tips in turning prospective clients into current clients:

1.    Avoid self-sabotage

2.    Recognize your value

3.    Be upfront

4.    Read signs

This week we’ll discuss the final three:

5. Ask the right questions

Sometimes all it takes to close a sale is for you to ask the right questions, one of the most important being, “Are you interested in retaining my accounting services?”   In his article on Entrepreneu.com entitled “Do You Wanna Buy?  Closing a Sale Can Be as Simple as Learning a Few Closing Questions,” Don Morgan suggests inviting your prospective client to buy several times during the sales process.  He describes most contacts as hesitant to commit without your initiative.

Crucial to these closing questions are those that give the customer options, something that’s very important to individuals who want to feel an element of control in the sales process.  These questions could include, “What types of accounting services could your business most benefit from?” or “How involved do you want to be in the accounting process?”

Other questions Morgan suggests include the following:

• Do you feel this service would be beneficial to other small businesses?
• Do you think that this service would be beneficial to your business?
• Would you like to fill out the paperwork so you can begin enjoying these services?

6. Offer a free trial

Everyone appreciates a good deal.  And when you offer a free trial, let’s say a month of your accounting services, you communicate confidence in your offerings and give the prospect an opportunity to enjoy, first-hand, the value of your services.  As you demonstrate just how your services can contribute to a healthier, more lucrative business, your prospects will be more than willing to continually retain you as their accountant.

7. Define specific terms

If a prospect is hesitant to enlist your services, defining specific terms can create an agreement to which he/she is much more willing to commit.  For example, after determining which services the prospective client is interesting in, you can say something to the effect of, “Would you be interested in an arrangement where I perform payroll and invoicing services, in addition to the traditional accounting services you need, for $250 per month, with the first month free?”

By implementing these 7 tips you could be well on your way to increasing your clientele.

Other Ways to Increase Your Profitability

There’s more than one way to grow a more profitable business.  Consider how you might bring your business, and those of your clients, more lucrative by reading Allen Bostrom’s book, In the Black: 9 Principles to Make Your Business Profitable.  Designed specifically for the small business, this book contains 9 practical principles that will enable you to improve your business’s profitability.  And you don’t have to wait to complete the book before you can start applying these principles.

If you would like to run a more synchronized practice where all three business functions (accounting, marketing, and production) work together, this is the book for you.  See why In the Black has enabled countless small business owners to gain control of their businesses while helping their clients do the same.  Earn more money in the future by ordering your copy today!

Resources

Morgan, Don.  “Do You Wanna Buy?” 4 September 2007.  Entrpreneur.com

“Tips for Closing a Sale.” AllBusiness.com

7 Tips to Turn Prospective Clients into Current Clients

You’ve distributed your business card, given your elevator speech, and perhaps even treated a prospect to lunch.  But how do you close a sale?

Closing a sale is that pivotal moment when a prospective client becomes a current client, bolstering your client roster and contributing to your bottom line.  Unfortunately, for many accountants this can be the most daunting moment and one we sometimes bumble through or perhaps never tackle at all.

Closing a sale doesn’t have to be that difficult.  In fact, when you implement the following 7 tips, you may find that acquiring clients is the easiest thing you do as a contract accountant:

1. Avoid self-sabotage

Brian Tracy, motivational speaker and world-renowned business trainer, claims that three obstacles in closing a sale are fear-based: fear of failure, fear of criticism and fear of rejection.  Each of these obstacles has nothing to do with a potential client; however, they have everything to do with your perception of the situation.  When you can eliminate these obstacles of self-sabotage, replacing fear with confidence, you’re ready to approach just about everyone you meet with ease.

2. Recognize your value

Implementing the above tip becomes much easier when you recognize just how valuable your accounting services are.  When you yourself come to believe that your services can help make any business more profitable, it won’t be difficult for you to share that belief with others.  In fact, you’ll be excited to help others improve their business practices and become more lucrative.

3. Be upfront

No one likes a sneaky salesman.  When approaching a prospective client, be upfront about the services you’re offering.  Don’t be ashamed to disclose your fees; just be certain that you also share the value that accompanies those services.  What business wouldn’t be interested in enlisting the services of an accountant that can help them use accounting data to make more informed business decisions and increase their profits?

4. Read signs

It’s important that you closely observe a prospective client’s reaction to your conversation.  In AllBusiness.com’s article entitled, “Tips for Closing a Deal,” they recommend listening for statements that indicate a prospective client is ready to retain your services.  Questions like, “How much will it cost me?” or “What will it require of me?” are good indications that your prospective client is interested in retaining your services.  If they’ve stopped responding altogether, chances are it’s time to unearth and resolve any concerns they may have.

Being able to close a deal is a valuable skill to attain if you’re running your own accounting practice.  Without clients your business will fail.  To secure those clients you need to practice a few key strategies.  Return next week when we’ll cover the final 3 tips in closing a deal.

5.    Ask the right questions

6.    Offer a free trial

7.    Define specific terms

Increase Your Appeal by Offering Tax Preparation Services

Your practice will become even more appealing when you add tax preparation services to your menu.  Not only that but 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 perform the standard accounting services you currently provide.

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 could make you the premier financial provider in your area.  Enroll in the Professional Tax Preparer Program today, and improve your competitive advantage while securing your business standing in the local community.

Resources

“Tips for Closing a Sale.” AllBusiness.com

10 Tips on Gaining Control of Your Emotions

“A man who is master of himself can end a sorrow as easily as he can invent a pleasure.  I don’t want to be at the mercy of my emotions.  I want to use them, to enjoy them, and to dominate them.” – Oscar Wilde

The truth is, if we don’t learn how to control our emotions they will eventually control us.  As business owners it’s important that we don’t let our feelings dominate our professional lives; nothing may be more detrimental to our success in difficult economic times.  In attempts to help us all better manage our emotions, last week we shared the following five valuable tips:

1.    Count to ten

2.    Take a deep breath

3.    Distance yourself

4.    Take a break

5.    Listen

In this second installment we will cover five more that will help you keep cool in difficult situations.

6. Determine the key trigger

It’s important to trace your emotion to its specific trigger.  You may think you’re upset over one thing only to discover that its cause is more personal than professional, more fleeting than flattening.  Only when you determine what’s truly causing the emotion can you take steps to alleviate it and address the core issue.

7. Stop focusing on the negative

When you’re upset, frustrated or angry it can be difficult not to stew about it.  Unfortunately stewing doesn’t make the situation any better; in fact, it can have the opposite effect, intensifying the problem until it becomes unmanageable.  What do we suggest?  “If you chance to meet a frown, do not let it stay.  Quickly turn it upside down and smile that frown away.”  Trite as it may sound, turning those negative emotions into positive ones can begin with a simple smile.  You may not feel like it at first, but this is one situation where you should definitely attempt to fake it ‘til you make it.  Turn those negative thoughts into positive ones and you might be surprised at how quickly the positive emotions will follow.

8. Vent

Sometimes it helps to let it all out.  While we don’t recommend venting to others in the office, you can share your frustrations with family or friends who can provide you with an objective perspective.  Sometimes expressing your feelings can be the first step in processing them and resolving the issue that triggered them in the first place.

9. Walk around the block

Talking a walk around the building or the block can accomplish a lot with one simple effort.  You’re able to distance yourself from the immediate situation while talking a breather.  The exercise will also release endorphins that will make you feel better sooner.  It may give you the energy and the wherewithal to tackle the problem upon your return.

10. Listen to soothing music

There’s no question that music can impact mood.  If you were to listen to a loud, pulsing beat when you’re angry, it will likely intensify your anger and worsen the situation.  However, if you listen to soothing music, it will take the edge off your emotions and give you the capacity to address problems in a more rational manner.

These tough economic times can put everyone on edge.  To better manage your emotions, it’s important that you take key steps to keep your cool.  Another suggestion we have for dealing with the recession is to learn key strategies that can help businesses, your own and your clients’, go from red to black in a short amount of time.  In fact, you may find that much of your business will come in the form of helping other small businesses regain their footing in the deepening recession.

Red to Black in 30 Days

You can use key accounting information to help turn a business around, becoming a valuable Profit Expert.  When you order Red to Black in 30 Days, you will have access to all the tools necessary to function as a Profit Expert and learn the Universal Project Management Model that will enable you to save failing businesses.   This book is a guideline for accountants and consultants who work with these disheartened small business owners.

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 accounting and management skills of even the seasoned accountant.  This is your opportunity to take the recession and make lemonade.  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.

True Life Success

Wouldn’t you like to sit down and have a good, long discussion with someone who’s living your dream?  Someone who could offer advice, tell you what to do, what not to do, and prove that what you’ve always wanted is possible?  If you want to build a thriving accounting practice, then we have the motivational conversation for you.

Scott Barhold completed the Universal Practice Builder program last year and he’s currently finishing the Professional Bookkeeper Program.  Learn from his experience and see just how these two Universal programs can change the face of your business, for the better.

Growing His Practice

The UPB program is designed to teach financial professionals how to better market their services; it also guarantees that graduates will increase their annual billings by at least $30,000 in just 12

months.  When asked how the program has benefitted his bottom line Scott replied, “My practice has grown from $36k to $87k in the first 6 months, and this year my current projections are about $127K.  I did this by learning how to market what I do.”  That’s more than an initial $50,000 in increased billings with a projected increase of over $90,000 this year, and Scott has accomplished this in a very tenuous financial market.

Scott explained, “The greatest benefit [of the UPB] for me was the understanding of what I needed to make my practice a success and the ability to achieve it.  [It] taught me how to successfully market my product and say the right thing to the right people in the right way at the right time.”

He goes on to say that “going to Utah for the UPB workshop can be the difference between watching a sporting event and playing in it.  It is truly the dynamics that change.  You will come out with more than you could possibly imagine, and a road map of how to achieve it.”

Growing His Expertise and Experience

The Professional Bookkeeper Program is intended to train individuals in the day-to-day tasks of small-business accounting, enabling graduates to earn valuable professional certification.  While he has yet to finish the PB Program, Scott feels that the PB designation will help set him apart from his competition.

Much of Scott’s success stems from his positive attitude regarding his business and his life.  He realizes that his daily tasks are the building blocks for the future success of his business.

Scott described to us a typical day at the office:  “My day usually starts with a day plan, the tasks and meetings that I need to accomplish, and a look at the work in progress.  Each day has some marketing involved from e-mails, to letters, to advertisements, and networking.  Then it is off to execute the day plan.  All tasks must be checked before I can go home.  No sales day can end on a no; each must end on a positive.  This lays seed today for a better tomorrow.  To let a day end on a failure is to let today finish better than tomorrow will be.  That is not an acceptable direction for my plan, my business, or my life.”

Client Relationships

Scott believes that the true value of his clients is not in the quantity but in the quality.  “For instance,” Scott says, “One of my clients has over 100 gas stations- [the quality] is in what I bring to him and his businesses. I am currently bringing a uniformity in reporting of income and expenses.  This will make his life easier so he can do more of what he wants to do.”

Scott finds that his clients value face-time and communication.  He explains, “I think the service that I sell is peace of mind.  My clients know that they are going to spend time with me, and that they will feel more at-ease about looking at their financial report.  I constantly hear clients say, ‘My old accountant never went over this with me.’”

Challenges and Rewards

The most challenging element of his job is in finding balance.  “There is a delicate balance between marketing and production.  I had to learn how to effectively delegate tasks in order for the practice to grow.  I love what I do, and I have come to learn that it is a valuable skill to business owners, that many do not possess. But without delegation, I am limited to the amount of help I can give.”

“The most rewarding aspect is that I can help so many others get what they want.  Nobody wants a business that is flailing about.  By doing what I know best, many times I can help them see their business in a whole new light.  It is rewarding that my clients realize the value that I bring to their business–the relationship that builds as we set plans in motion to meet their goals and objectives.  I actually enjoy watching as we overcome obstacles as a team and celebrate milestone successes with my clients.”

Scott’s Advice to Those Starting and/or Growing Their Own Bookkeeping Practice

“Know what you are getting into.  Your clients will rely on you for information; spend the time to become an expert in your field so that you can help them… become an expert in theirs.  And to take something that I have learned from UAC – Believe in yourself, decide what you want, plan for success, and execute your plan!”

Learn more about these two programs that have helped Scott achieve the success he’s currently experiencing by visiting Universal Accounting Center today.

Helping Businesses Become Profitable in 30 Days

Have you ever encountered a failing company in need of help-and fast!  As an accountant you may be one of the few individuals owners turn to when a business is in need of serious financial reflection and modification.  Not only that, but if you could learn how to turn a business around, you could add this valuable service to your menu, increasing your value to current and prospective clients.

Allen Bostrom’s new book, Red to Black in 30 Days, illustrates an effective away to build your accounting practice, make more money and gain expertise in helping troubled small businesses – making them profitable once and for all.  To demonstrate the value of this book, we wanted to share the cornerstone concept of becoming more than just an accountant but a Profit Expert.

What is a Profit Expert?

Allen Bostrom, President and CEO of Universal Accounting Center and author of Red to Black, believes there are three degrees of accounting service-the bookkeeper, the accountant and the Profit Expert. The bookkeeper records transactions into the computer with direction and relatively little knowledge of how it impacts the big picture. In most situations, the bookkeeper will need to seek competent advice from an accountant.

The accountant has a working knowledge of how the financial statements are created and what they mean. An experienced accountant can also interpret financial statements and trends but generally stops short of giving meaningful management advice to business owners.

A Profit Expert is a financial advisor who has the skills of an accountant but also creates, enhances and/or turns around promising small businesses by providing direction in:

• Controlling cash effectively
• Reducing and minimizing expenses (including tax expenses)
• Increasing revenue

If you are not at the expertise level needed to be a Profit Expert, you certainly will be at the end of Red to Black.  This book provides the resources necessary to help any small business with problems-even turnaround problems.

As mentioned before, sometimes small business owners have a hard time seeing their own problems, let alone admitting them. Yet, there is never a shortage of problems. But in general, small business owners wait too long to admit they have problems; then they wait even longer to take action.

In some cases, the accountant may know critical information before the business owner. Thus, your role as an accountant and Profit Expert are paramount in all stages of turning a business around.

The fact is that numbers tell stories. The financial information an accountant provides is not only the first indicator of upcoming difficulty, but it is also instrumental in discovering the solution to the problems causing the difficulty.

Order Your Copy of Red to Black, Today!

Discover how to use this accounting information to help turn a business around.  You will discover all the tools needed to function as a Profit Expert and learn the Universal Project Management Model necessary in saving failing businesses.   This book is a guideline for accountants and consultants who work with these disheartened small business owners. 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 enhance the accounting and management skills of even the seasoned accountant and manager.

For the cost of this one book you can enhance your value to current and prospective employers.  It’s the New Year.  Why not celebrate with a new book that will make you and your clients more profitable.  Order your copy now.