3 Tips on Standing Out in a Competitive Market

Some business owners are happy to run with the pack, staying neck-in-neck with the competition. Unfortunately, winning businesses do more than keep up; they stand out, they lead, they become the premier accounting firms in their area.

If you would like to stand out in a competitive market, you must take steps to distinguish your services from other accounting firms. As you market your services you must emphasize what makes you different, unique, unusual. How do you do that? These three steps will help.

1. Study the Competition

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

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

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

2. Determine Your Competitive Advantage

Once you’ve studied the competition, you can see how you measure up. In order to stand out, you must first determine what sets you apart. Reflect on the services you offer and what makes them valuable.

Ask yourself the following questions: Do you have a specialty or focus that would add value to your services? Have you received professional certification or recognition for your work? Can you offer financial consultations that would appeal to potential clients? Do you offer complementary services that would benefit your target market?

It’s important that you note these things that distinguish you from the competition. This is no time to be humble or modest-you offer valuable services and determining what makes them unique and noteworthy will enable you to achieve true success.

3. Market Your Strengths

Now that you know what sets you apart you must accentuate these characteristics in your marketing materials. You don’t want your promotions to sound cliché and familiar. They must be unique. Most of this will be easily accomplished with your new and improved marketing message.

In order to test this new approach, run a trial campaign so you can analyze its effectiveness. If it doesn’t grow your clientele, tweak your message until it does. Once you see success you can incorporate this new approach in all your marketing materials.

Marketing doesn’t have to be difficult. When you know a handful of effective marketing techniques like this one you can easily get your practice to stand out and lead the competition.

For this and more marketing strategies designed to help you get and keep clients, watch our video “The Art and Science of Getting Clients.” For less than $10 you can add this valuable DVD to your professional library, or you can watch it online for free! In less than 20 minutes you could be on the path to improved marketing success. Do it now, and watch your accounting practice grow!

Public Speaking: How to Make an Impact

(Part Two of a Two-Part Series)

Last week we talked about how you can use public speaking as a powerful marketing tool. Unfortunately many people are terrified of public speaking. In fact, a large number are more afraid of public speaking than they are of death. Jerry Seinfeld once joked that when attending a funeral most would choose to be in the coffin rather than giving the eulogy. While it can definitely be a little intimidating to speak in front of a large group of people, it’s worth the free publicity. And sometimes just knowing how to prepare for a public event can put your mind at ease and make the task more approachable. Here are seven things to consider when preparing for your speech:

1. Know your audience
Regardless of the topic you choose, you should know a bit about your audience in order to cater the message to their interests and needs. When you discuss something that applies to their current situation and is useful, they’ll see that as a representation of your expertise and professional value; they will remember that when looking for an accountant.

2. Practice your delivery
Practice makes perfect, right? It can also calm your nerves to know you’ve practiced the speech before going public. And going through your speech will help you recognize problem spots that either don’t make sense or are difficult to say aloud. If possible, practice in front of a safe audience of family and/or friends who can give you feedback on your delivery.

3. Manage your nerves
First you must determine what you’re really afraid of. When it comes to public speaking most people are more afraid of the public than they are of the speaking. There are some who equate public speaking with performing while it’s really just a form of communication; if you find yourself experiencing performance-anxiety, changing your perspective may be all it takes. Again, practicing can help calm your nerves, as can visiting the event locale, getting enough rest before the event, and doing some deep breathing exercises before you deliver your speech.

4. Win ‘em over
Studies show that you generally have three minutes to win over your audience. It takes that much time for them to size you up and determine whether or not you’re worth listening to. That’s why you must pay special attention to those first few minutes of your speech. Are they engaging? Applicable? Humorous? Or perhaps, poignant?

5. Involve the audience
Some are afraid to ask the audience questions because they expect no response. The truth is, people like to talk. They appreciate the opportunity to contribute and share their two-cents. And the more you involve them, the more invested they’ll be in your presentation.

6. Make eye-contact
Whatever you do, don’t read from a stack of note cards without looking up to connect with your audience. If possible, it’s also good to move around a little bit, although avoid pacing back and forth; that will make everyone nervous.

7. Be Yourself
The most important thing is for you to be yourself. Relax, be personable and don’t do anything that feels uncomfortable or unnatural. You’ll find that this one tip, in and of itself, will help the audience warm up to you more than any other.

Once you give a speech or two you’ll find that it’s not as frightening as it once was. In fact, you may surprise yourself and discover that you actually like it. Either way, you’ll promote your business by leaving a powerful impression. And all this for free!

Public Speaking: One Pathway to a More Profitable Business

(Part One of a Two-Part Series)

Wouldn’t you love to demonstrate your knowledge and skill before a captive audience of potential clients? Doing so can build your client roster, get you lots of free publicity, and, possibly, score you some pocket change.

Public speaking, while intimidating to some, can be another pathway to a more profitable business. But there are some things you should remember in order to make your speaking engagements compelling enough to secure new clients. Here are four of them.

1. Picking a Speaking Venue
You’d be surprised at how many speaking opportunities exist in your area. You’ll want to pick local venues where you can capture your target market. Promote yourself on your website and/or blog, making people aware of this new “service” you offer. Many organizations are looking for individuals to speak during lunch or dinner meetings, for trade associations, professional societies, or civic, community, and business groups. Look for events intended for the small business owner. You’ll find that once you give a few speeches, your name will become familiar and you’ll get invited to speak more and more. And at each event you’ll have a captive audience becoming familiar with your name and the services you offer.

2. Picking a Topic
The topic must be related to the services you provide. This is a great opportunity to provide the audience with useful information while demonstrating your accounting expertise. As you prepare your speech, do a little research on your audience. What information would they appreciate? How could you appeal to them and perhaps relate to their common concerns? And lastly, it’s important to realize that you’re not being asked to perform an infomercial, so avoid droning on and on about your business.

3. Delivering Your Speech
For many of us, this is the tricky part. Some are deathly afraid of public speaking, but there are ways you can remedy that and next week we’ll discuss some important tips on managing your nerves and delivering an outstanding speech. For now it’s important to note that no one scheduled you expecting a standup comedian, so don’t feel obligated to keep your audience rolling in the aisles. Focus on relaxing and being yourself. The best thing you could do is project a friendly, approachable demeanor that will resonate with your audience and help them remember your name and the services you offer.

4. Selling Your Business
Remember how we told you that your speech is not an infomercial? While you should mention your name and specialty within your speech, you should avoid turning it into your own personal marketing platform. But bring plenty of business cards and stick around long enough to chat with members of the audience. Be gracious, answer their questions, and request their business cards in return. All those in attendance are potential clients or may refer potential clients your way. Another good way to be remembered is in giving everyone a handout that includes the main points from your speech as well as your contact information.

While public speaking can be a little intimidating, after your first few appearances you’ll find yourself become more comfortable with the attention; the practice will help you improve your delivery and in the end you’ll find that the number of people you’re contacting is well worth a bad case of nerves.

Come back next week when we’ll be discussing “Public Speaking: How to Make an Impact.”

One Ready-Made Business to Go

As a child you waited and waited for that most wanted package from Ol’ Saint Nick himself. You wrote him exactly what you wanted and anticipated that package would be placed under your tree come Christmas morning. Nowadays, your tastes may be a bit more “involved”. Sure you may want a Lexus for Christmas. Or maybe your wish list is a bit more modest: new shoes, a bookstore gift card, a family vacation. But what about those more obscure wishes of yours? As much as we’d like to find world peace or a better life in our stockings, that’s just not something the Sainted Old Elf can deliver.

And what about what we wish for our business for the next year? Think the closest you could get to business success is a fancy new shredder? Is a successful accounting and bookkeeping business that far fetched? Not when it comes to Universal Accounting Center’s offering a package that could increase your business profits in mere months. With UAC’s year end offer of the Professional Bookkeeper, and QuickBooks Training Programs success is at your fingertips!

Increase Your Client Base
Most business owners are looking for ways to get more clients; more clients mean better business. And small business makes up over 80% of accounting opportunities. UAC’s Professional Bookkeeper Program teaches small business accounting, so while you may have learned accounting somewhere else, chances are you weren’t taught how to cater accounting practices to the small business. Small businesses function differently from big businesses, which means that accounting practices must also be different. For over 25 years, Universal Accounting Center has been teaching people like you small business accounting. And even if you’ve never taken an accounting class before, the PB Program will give you the proper training to tackle any accounting situation with ease.

The PB Program also enables you to earn the Professional Bookkeeper Certification, which will give you the credentials necessary to function in today’s competitive environment. Not only that, but UAC’s program will teach you how to market your new skills and provides you with follow-up support from a Personal Achievement Coach and certified CPA’s who can answer your questions anytime.

Increase Your Efficiency and Profits
Most business owners would agree that efficiency is priceless when it comes to running your business. When you work efficiently, you get more done in less time, enabling you to use that saved time to either enjoy your earnings or make more money! Intuit’s QuickBooks Pro is the accounting software used by 80% of small businesses. Not only can it save you time in running your own business, but it enables you to teach clients how to get you the information you need in a format you can use. And once you learn QuickBooks Pro, you can offer QuickBooks set-up and consultation services for $65-$95 per hour. Add to that QuickBooks helpservices and you’ve not only increased your efficiency, but you’ve increases your earning potential!

The Professional Bookkeepers Guide to QuickBooks Pro is a self-paced program that enables you to complete the parts that interest you and skip over the parts that don’t. Even if you have used the program for years, the program teaches you shortcuts and methods you may not have known. And like the previous two programs, you’ll receive follow-up support so that you can email your questions at any time.

UAC Offers the Power Package: All Three Programs for One Low Price
All three of these programs are bundled for a year-ending special that only newsletter subscribers can enjoy. In fact, this fantastic pricing for the 3 in 1 bundle is ending come December 31st! Time is clicking away! Enroll yourself in the programs proven for business success

Get yourself the present, the package you deserve – business success; it may not fit in your stocking, but it’s something you and your family can enjoy for many years to come! Check it out today, there is still time to complete the Professional Tax Preparer’s Program before January 1st! Enroll in our proven professional programs and enjoy Christmas early this year.

Just a few decades ago, accountants were tracking transactions on paper. Thankfully that’s no longer necessary. With advances in technology, not only can you manage books on the computer but you have a wide variety of software programs with which to do it. As you try to keep your business current and advance with technology instead of getting trampled by it, you should have a technology plan. Like business and marketing plans, a technology plan will align with your business goals and anticipate how technology can make your business more efficient and profitable. As you create a technology plan, consider the following:

Include technology in your budget

You should plan for technology costs by including them in your yearly budget. This makes the process of purchasing technology much easier; you can take your time to purchase the product that best meets your needs rather than searching for the least expensive gadget to get the job done.

Ensure your technology plan supports your business goals

You shouldn’t purchase technology willy-nilly. Take the time to ensure your technology dovetails with your professional goals, enabling you to use technology to accomplish your business objectives.

Remember that technology is an investment, not an expense

Technology is expensive. It can be difficult to sign the dotted line when making those purchases. That’s why it helps to remember that technology is an investment; your ability to use technology to perform key accounting functions enables you to work more efficiently, and in the end, make more money.

Brainstorm ways technology can enhance your business and fulfill key needs

You should use technology to improve your business, enabling you to accomplish more in less time. You may be surprised at the technology that exists to enhance your business and its operations. First, it might be a good idea to list functions you need help performing more efficiently. Then you might need to research products that could help you better perform those functions. Consult with colleagues as well.

Consult the experts

As you look for technology that will fulfill your business’s needs while aligning with your goals and objectives, it’s important that you consult with professionals who know technology well enough to recommend specific products while sharing the pros and cons of each.

Master QuickBooks, the Most Popular Accounting Software on the Market

When looking for computer software you want to find products that enable you to work more efficiently while increasing your income. QuickBooks Pro is one of those programs. Over 80% of small businesses use Intuit’s QuickBooks software to manage their accounting. While other programs may be useful, Quickbooks has definitely captured the small business market. Mastering this program and becoming a Quickbooks Specialist will enable you numerous ways to bring in more business, increase your income, and make your job easier.

Our new and improved Professional Bookkeeper’s Guide to QuickBooks includes the following:

• Training for all user types
• The ability to work more efficiently
• The ability to offer QuickBooks consulting services
• 6 months of follow-up support
• The ability to earn a QuickBooks Specialist (QS) designation
• 16 CDs with 15 hours of training
• 4 books with over 800 pages of instruction

This is one piece of technology your business cannot do without! Once you master QuickBooks you will be able to manage your own accounting more efficiently as well as that of your clients. Increase your business appeal, attract more clients and make more money. Take advantage of this program now!

Click to enroll.

Resources

Banning, Christine. “5 Tips on Technology Planning.” SCORE. 10 June 2008 http://www.score.org/5_tips_bp_9.html

The Pros and Cons of Partnerships

Whether you’re considering starting a business with a partner or whether you’re thinking of adding a partner to your current business, it’s good to weigh all the pros and cons before making a final decision.

Cons

Sometimes you can get so excited about a new business venture that you forget to look at the risks. Obviously, you must choose a partner you know well, who shares your values, goals, and business philosophy. Here are some risks to consider when deciding whether or not to enter a partnership.

Your partner’s poor judgment becomes your poor judgment
You and the business suffer if your partner exercises poor judgment.

Friendship-fallout
As John D. Rockefeller once said, “A friendship founded on business is a good deal better than a business founded on friendship.” A falling-out could make it difficult for partners to work together and maintain business profitability.

Shared liability
If your business incurs a significant amount of debt and your partner becomes insolvent or skips town, that debt becomes your responsibility.

Shared profits
Likewise, all the money that comes into the business needs to be divvied out between the partners.

Difficult to disintegrate
Unless you have a buy-sell agreement before taking on a partner, it can be difficult to dissolve a partnership agreeably in the case of a falling out or a partner’s death or incapacitation.

Loss of autonomy
With a business partner to consult on all major decisions and with whom you must share recognition, you may feel a loss of autonomy and independence.

Pros

If you’re considering a partnership, you are probably already familiar with the following benefit:

Increased earning potential
With two accountants bringing in clients there’s the potential to increase the visibility of your business as well as its bottom line.

Shared financial responsibility
Often the financial barriers in starting a business can be enough to discourage the single accountant. But with a partner that financial burden can be shared.

Shared responsibility
When you have a partner you’re no longer bound to operate the office by yourself. Potentially this could give you the opportunity to enjoy a more flexible work schedule.

Potential to diversify services and skills
You can increase the appeal of your business by adding a partner with diverse skills or a special focus.

Melding of two or more minds
You know what they say, two heads are better than one. When in a partnership you have someone with whom you can brainstorm, make decisions, and approach difficulties.

Highly motivated coworker
In a partnership you suddenly have a coworker who is highly motivated to succeed. This coworker can share the workload and help you better manage the business.

Obviously there are significant pros and cons to consider when entering a partnership. Once you’ve studied them all you can make an informed choice that will help you move forward in a powerful business venture.

How Making a List Could Score You Countless Clients

In order for you to effectively market your accounting services you must determine your competitive advantage. A competitive advantage is gained when you offer your target market something a competitor cannot.

When you market using that competitive advantage, you are able to edge out the competition. In order to become the premier freelance accountant in your area, you must determine your competitive advantage and incorporate it into your marketing strategy. Today we’ll talk about the competitive advantage you have through all your contacts. How does that work?

Create a List

First, we suggest you list the following, collecting approximately 250 names:

1. Friends
2. Family
3. Neighbors
4. Neighboring businesses
5. Businesses you frequent

This list represents the competitive advantage you offer simply because you know someone, either personally or through business. Your proximity and character speak for you here, and will determine how comfortable these individuals feel talking with you about their accounting needs. Now that you have your list, follow these steps:

Write a Letter

It’s time for you to spread the word about your business. Put that competitive advantage to good use and write a letter to these contacts, telling them about your accounting services so they can retain them and/or refer their own friends and family your way. Include 3-4 business cards with each letter.

It’s important that you not send these letters out to all 250 contacts at the same time. This will afford you no time to follow-up with each of them. We suggest sending 5-10 a week, taking the time to call or email these individuals later to see if you can answer any questions they may have.

Have a Chat

It will make more sense to talk with some of those contacts face-to-face. For example, your competitive advantage with neighboring businesses is the fact that your business is close to theirs. Making this competitive advantage known requires a personal introduction in which you can talk about what you do and build a relationship in which you could ask who does their accounting and whether or not they’re happy with those services.

This may require more than one discussion as you ease your way into a professional relationship with these businesses. The same applies with businesses you frequent. Take the time to get to know the owners to see if you might be able to help them with their accounting.

Offer a Free Consultation

In order to demonstrate the value of your services, offer a free consultation. This can be as casual as suggesting, “Could I take a look at your books to see how I might help?” When you do so you will notice key indicators that will let you know how their business is faring and what might be done to make it more successful. Offer some suggestions on what they can do to increase their profitability. Also let them know that you would be happy to manage their accounting on a regular basis for a reasonable retainer.

You’ll be surprised at how this free consult enables you to secure clients with ease. Not to mention, as soon as these individuals become satisfied with your services, they’ll begin referring them to friends and family of their own. In this, you will eventually take advantage of word-of-mouth marketing.

Learn All This and More with Universal Accounting Center

It really is that easy to build your client base. And you can learn all this and more by enrolling in Universal Accounting Center’s Professional Bookkeeper Program. Not only will we train you in the practical application of small business accounting, but we’ll help you market those new skills, acquiring the clients you need in order to make your business successful. And you can see by this article just how simple marketing can be.

Really, could it be any easier than making a list, sending out letters, and chatting with your neighbors? For over 25 years Universal Accounting Center has been training professionals just like you in small business accounting and marketing. We know what works. And we know what doesn’t.

Let us share all that information with you so avoid wasting time trying to figure it out yourself. Do you have 25 years to spare? We didn’t think so.

Combine Small Business Accounting Services with QuickBooks Expertise

In working with small business owners you’ll quickly realize just how popular QuickBooks is. And when you master QuickBooks you can offer QuickBooks setup, consultation, and help services as well.

Not only that but you can teach your clients how to use it properly and get you the information you need in the format you need it in. QuickBooks could make you a more efficient and profitable accountant! The combination of these two products is a professional investment that will provide you with a substantial return.

Don’t wait to improve the success of your practice while enhancing your lifestyle. Click HERE to pay in full or HERE to finance both programs.

The Real Scoop on Being Awarded Money to Start or Expand Your Business

You’ve probably heard the commercials promising big bucks for entrepreneurial-minded individuals looking to start their own businesses. Grants are a great source of income because you are not required to pay them back; it is money awarded to you, free of charge. But how easy is it, really, to secure a small business grant? Unfortunately, not as easy as those commercials suggest. But it is possible.

While the federal government doesn’t award grants there are state agencies that do. Check out our resources below to discover the local opportunities that exist for your business.

What might you do to make your application more appealing? The following four tips should help:

Recognize the process may be long and exhausting

It’s important that you be prepared to spend a significant amount of time and energy researching potential grants and their requirements. It may help to assign someone on your staff the responsibility of laying the ground work. You can visit the links below to get started.

Create a thorough Business Plan to evidence your preparedness

This may help you stand out from the competition. A thorough Business Plan demonstrates your attention to detail and the fact that you have thought about your business enough to devise a plan from startup to exit strategies.

Submit a complete and thoughtful application

The grant approval process is long enough as it is; you don’t want to delay the process further by submitting an unacceptable application. This also projects a poor image of your business and implies that your products and services just might be as sloppy as your grant application.

Maintain contact with the organization awarding the grant

Just as you would maintain contact with a potential employer that had interviewed you, so should you maintain contact with the organization awarding the grant. While you should avoid being intrusive and annoying, you can check on the review status and determine how long it might be until you are notified. It’s also a good time to see if they need anything else in order to decide whether or not you are the right candidate for their grant.

While it is possible to receive grant money to fund your business startup, it’s not always an easy process. You must pay close attention to the requirements and ensure that your business is eligible. You must also be willing to spend considerable time and energy preparing the necessary application. However, it’s not impossible and if you believe your business is suitable for a grant; it could be well worth it to go through the process.

A Business with Little Startup Costs

While every owner of a fledgling business would like some free cash to get going, starting an accounting practice requires little in startup costs. With no expensive equipment to purchase, the ability to work from home with as little a computer and internet connection, and the flexibility to work from the spare bedroom in your basement, an accounting and bookkeeping practice might just be the best home business yet. In fact, authors of The Best Home Businesses for the 21st Century, Paul and Sarah Edwards, rate a bookkeeping service as the “Best of the Best” home-based businesses. With a little training and professional certification, you could be on your way to a low-cost start-up with big returns.

Currently there are countless students trying to earn their accounting degrees by spending hours at a university, learning accounting theory, but not much practice. Once they graduate and try to get a job they will discover that they have been prepared for less than 20% of accounting opportunities. They have been groomed to act as corporate accountants. Unfortunately for them, more than 85% of opportunities are with small businesses which continue to grow and grow every year. These small businesses have unique needs that are not easily met with corporate accounting practices. They need a specialist-a small business accountant.

The Professional Bookkeeper Program

Since Alf Bostrom opened its doors in 1979, Universal Accounting Center has been training individuals in the practical application of small-business accounting. With more than 25 years experience, we know what the small business needs, and we also know how to effectively train you to master small business accounting. In less than 60 hours you could complete the Professional Bookkeeper Program and start a small business’s books from scratch. You could also become that business’s Profit Expert. With such valuable skills you could manage not one, but multiple small business accounts, becoming the most popular contract accountant in your area.

The Professional Bookkeeper’s Guide (PBG) to QuickBooks

But why stop with just small business accounting? Why not add another valuable complementary service to your practice? Our Professional Bookkeeper’s Guide to QuickBooks will help you master QuickBooks, by far the most popular accounting software used by small businesses. Upon doing so you will not only be able to add QuickBooks services to your menu, but you will begin attracting a new demographic that will bring more business your way. And if you order both the Professional Bookkeeper (PB) Program and the Professional Bookkeeper’s Guide (PBG) to QuickBooks now, you will receive our newly released 2008 version of the PBG. This version beats out other QuickBooks training programs. Its features include the following:

• Training targeted for all user types
• The ability to work more efficiently
• 6 months of follow-up support
• The opportunity to earn a QuickBooks Specialist (QS) designation
• 16 CDs with 15 hours of training
• 4 books with over 800 pages of instruction
• The ability to quickly pay your bills so you never incur late penalties.
• The ability to write checks with one single click!
• Be reminded when bills are due.
• Quickly and effortlessly create invoices so you get paid sooner. It even takes care of sales tax.
• Get organized. QuickBooks streamlines the process of tracking customers and vendors so you can easily look them up in one place.
• Keep on top of incoming and outgoing payments. It’s like having your own accounts receivable and payable clerk you don’t have to pay.
• Access easy-to-read financial reports NOW!

Start your own accounting practice by getting trained in small business accounting and QuickBooks. With minimal to no startup costs and services that will appeal to a wide market, you can be up and running in no time at all. This is as close as you can get to a guaranteed startup. So take a deep breath and imagine yourself working as a thriving contract accountant. Enroll today! Click HERE to pay in full or HERE to finance the programs.

Resources for Finding Grants

• Federal Funds Express
• The Grantsmanship Center’s Local Funding Sources
• The University of Michigan’s list of grant information

Growing a Self-Sustaining Accounting Practice

Are you running the business or is the business running you? Imagine leaving your practice to go on vacation for a couple weeks. Does the thought make you shudder? How would your business function without you? Would it function at all? While you may believe that having full control of your business is the best management approach, it doesn’t leave you with much freedom. Growing your business to become a self-sustaining accounting practice is an option worth considering. This requires you to start working “on” your business rather than “in” your business. It’s definitely a shift in perspective, but with it comes greater profitability and freedom.

This shift, however, also requires a major transition for your business, a transition Doug Tatum calls no man’s land. And Tatum should know after releasing a book of that same name: No Man’s Land: What to Do When Your Company is Too Big to Be Small but Too Small to Be Big. If you’ve considered growing your business beyond its current size and capacity, the following tips will help you better prepare for this tricky transition.

1. Realistically consider your business’s growth potential

Not all businesses must go global in order to achieve success. There’s value in running a small business out of your home and earning a comfortable living for you and your family. But if you’ve considered growing your practice to include a handful of partners and a considerable support staff, then you must stop and realistically consider your business’s growth potential. Tatum uses the example of a great chef attracting a large clientele to a fairly small restaurant. Will that chef’s value be diluted if the same restaurant were to open in three other cities? Does that restaurant truly have the ability to grow beyond that chef’s reach? The same applies to your practice. Does your business revolve around your unique abilities, or could you bring in partners and employees who could continue to offer those same valuable services to a larger client base? Before you consider crossing no man’s land you must have answered this important question.

2. Recognize signs you’ve entered no man’s land

If you’ve decided to move forward and take your business to the next level you must be able to recognize the signs that you’ve entered no man’s land. The biggest indicator is a reduction in revenue and a slowing of business. This means your business has grown beyond current capacity and changes must be made, and quickly, in order to see the business through this often difficult transition. Tatum also says businesses in transition encounter a capital gap where many must enter capital markets but are unsure how to proceed.

3. Appreciate your changing role

You can’t micromanage a self-sustaining business. Eventually you’ll be required to stop performing certain tasks in order to let the business become more independent. Stepping back a bit to let the company take care of itself may be difficult at first, but is necessary for those who want to enjoy the fruits and freedom a growing business provides.

4. Brace yourself for a change in the game plan

You can’t manage a big business the same way you manage a small business; the result would be a failing business. In order to successfully cross no man’s land you must change your game plan and consider infrastructure changes, new management, and the addition of employees with more specialized skills.

While crossing no man’s land may be difficult, it isn’t impossible. If you determine that is where you want to take your business, you’re certain to get there as long as you’re prepared.

If you would like to learn more about starting your own accounting practice, our Professional Bookkeeper Program is the perfect place to start in order to launch a successful business offering valuable services that are marketed effectively. To learn more, order our DVD “Intro to the Professional Bookkeeper Program.” It just may be the beginning of a lucrative future as your own boss.

Reference

Perman, Stacy. “No Man’s Land.” 1 August 2007 BusinessWeek.com

It’s amazing how much mileage you can get from a little confidence. As an accountant you’ve probably spent a lot of time determining your most valuable business assets and how to preserve them. But have you considered how to secure and improve the one asset around which everything else revolves? YOU. Without you, there would be no accounting practice. There would be no clients. There would be no income. It’s time you acknowledged your value in order to advance your business to the next level.

Trust your instincts

While your impressions may seem somewhat whimsical, remember that you have experience and training which informs your instincts, giving them great value. You need to learn how to trust them as you move forward and advance your business. This means attending to those impressions as you interact with clients, peers, and other professionals within your community. Start with the small impressions first. Once you gain confidence in your instincts you’ll be able to move on to bigger and better things.

Be yourself

Accountants are known for being reclusive and somewhat introverted. If this describes you, we’re guessing you may feel somewhat uncomfortable when interacting with clients and other professionals. But it’s important that you be yourself. Doing so may make you feel self-conscious, but you’ll come across as genuine and trustworthy, two traits greatly admired in business-more so than a good sense of humor and witty dialogue.

Value your own services

If you’re not charging what you are worth, you don’t value your own services. Without saying a word your clients will sense a lack of confidence and will devalue your work as a result. When you come to recognize just how much you’re worth, you will exude self-assurance and promote your practice with ease. You’ll find you don’t have to negotiate your fees as often and you will begin to attract clients willing to pay for quality work.

Talk yourself up

Don’t apologize for what you do or how much you charge to do it. Once you come to value your own services you’ll find this step becomes much easier. You’ll welcome opportunities to talk about what you do and how well you do it. You’ll recognize that you’re only providing potential clients with the opportunity to benefit from your services.

Invest in yourself

YOU are your most valuable asset. It makes sense that you would invest in yourself. Consider ways you can improve your skills and become even more valuable to clients. This may require that you receive additional training, earn credentials, and learn new skills.

Universal has a DVD 4-Pack designed to introduce you to all the valuable services we offer, each and every one of them intended to enhance your accounting career. This power pack includes:

Introduction to the Professional Bookkeeper Program. Learn how becoming a Professional Bookkeeper will improve your accounting skills, enabling you to expand your business and become a full-service financial provider.

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

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

The Art and Science of Getting Clients. Learn how to get more clients by using our proven methods.

Purchase the DVD 4-pack and add to your reference library while learning how you can enhance your best asset. Order now!