Attention: E-mail Marketing Increases Profits for Bookkeepers

Three Steps to Make E-mail Work for Your Bookkeeping Practice

Banner ads are not as effective as e-mail. “Internet users are visually discounting the presence of banner ads,” according to Paul Baudisch, president of NetMarque (a marketing agency based in Needham, Massachusetts). In other words, they aren’t looking at them.

Click-through rates (the number of people who actually click on the ad to see what it is selling) are going down too. In a recent survey, people who claimed that they never look at banner ads anymore rose from 38% to 48% in one year.

E-mail is Effective

More and more marketers on the Web are turning to the direct marketing model, sending personalized e-mails to highly targeted lists of prospects. Just like the personal sales letter, personal e-mails are changing the way people market on the Web.

There are three steps to making your e-mail marketing campaign very effective. And there is good news. An effectively run e-mail marketing campaign can be accomplished for a fraction of the cost of direct mail. Let’s take a look at what it takes to save money by contacting your clients and potential clients via e-mail and how that will generate additional income for your bookkeeping business.

Three Steps to Effective E-mail

1. Send the Right Message- For many e-mail marketers, it make sense to soften the sales pitch sent via e-mail. Make your content more informational, with a softer sales message. Many companies find that a newsletter is a very effective tool to reach out to clients and potential clients. By offering valuable information via a free service, (your e-mail newsletter), you can build confidence with your clients and create a natural venue for offering your services.Many marketers find that coupons and promotions sent by e-mail are very effective. These kind of e-mails are usually very well-received. “Nearly one third of respondents to a DoubleClick consumer e-mail study said they’d made an immediate online purchase as a result of receiving an e-mail, and close to one-third said they’d clicked on messages for information and later made an online purchase as a result,” according to Kim T. Gordon, the marketing coach at Entrepreneur.com.
2. Look and Act Like a Pro- The two most important elements that contribute to the “open rate”, (how many people actually open your e-mail), are the “from” and “subject” line. Make it very clear who the e-mail is coming from. Your clients will know if it’s coming from you, a valuable source of information, or not. If they don’t know who it’s coming from, it will more than likely not get opened.In your subject line, make sure that at the very least it will give them an idea of what the e-mail will tell them about. Better still, make your subject line read like an interesting headline that will pull them into the body of the e-mail. If you don’t make it interesting enough to open, nobody reads it.

   Make sure to comply with all CAN SPAM regulations by including your company’s name and physical address in the body of the message as well as an unsubscribe option at the bottom.

   Designing your e-mail doesn’t have to be difficult. You don’t have to go it alone. In fact, if you’re sending out more than 50 e-mails at a time, you should look at some of the marketing services that cater to small businesses. Topica, 1Shopping Cart and Constant Contact to name a few. Many of these companies will allow you to e-mail up to 5,000 names for under $50 per month. The service will maintain and clean your list by removing invalid e-mail addresses of people who choose to unsubscribe.

   Choose an e-mail marketing service that provides design templates for e-newsletters, promotional offers and coupons that are easy to customize. Since only 56% of people online have broadband, it’s essential to design full-color, high impact HTML content or promotions, but still give recipients the option of receiving a text-only version.

   Best of all, most of these services will provide you with the tracking information that helps you determine just how effective you e-mail is. You’ll be able to see how many people open and click on links in your e-mails and track the sales and inquiries that come from them.

3. Build a Better List- If you already have a Web site, you’re part of the way there. By putting a sign-up button or screen on your site, you can collect your own names for mailing. “When companies use their own homegrown lists, online direct marketing works even better,” says Robert W. Bly, author and Internet expert. This advice is consistent with my experience too.Sure, you can rent e-mail addresses, but most e-mail servers treat those names as spam, (the Internet version of junk-mail), and they normally don’t get read. In fact, depending on where you got the list of names and who sends them out, it might not accept your e-mail at all. A homegrown list is the best list.
   
   To help you get the names for your list, offer a promotion of some kind. As a bookkeeper, you might want to offer a book or some other premium to your clients for giving you their personal information.

   If you don’t have a Web site, you can still market via e-mail. You still need to collect names and e-mail addresses to reach out to your current and potential clients. Anytime you get any interest in your service, make sure and collect the name, address and e-mail address. You might even consider a direct mail campaign to get folks e-mail addresses. Make sure and give them a reason (a premium) to sign up with an e-mail address, and you’ll be well on your way to building a powerful list.

   But remember, most people who will respond to your e-mail will expect that you have some kind Web presence. As part of Universal Accounting’s Professional Bookkeeper Program, you’ll have a customizable Web site to get you started with your Web marketing efforts.

Will My E-mail Marketing Really Get Read?

You’re reading this, aren’t you? If you provide the right information to the right people, yes… it will get read. If done properly, e-mail is a very effective tool for marketing to your clients and potential clients. The Professional Bookkeeper Program is full of valuable insight into how to spread your sales and marketing message the most effective way possible.

Learning about the ins-and-outs of small business bookkeeping and accounting is only part of creating a professional bookkeeping business. Your education should also give you the tools you need to build and grow your business too. The Professional Bookkeeper Program is the only program I’m aware of that provides that type of instruction. Click on the link below and find out for yourself how you can create the income and lifestyle that you and your family deserve.

Click Here to Learn How to Pay Yourself What You’re Worth and Build the Lifestyle You Deserve

If Timing Is So Important, When Do I Describe the Fee?

If you talk with ten sales professionals you’ll get ten opinions about when to mention the fee to your prospective client. The advice will vary depending upon the type of product and service, or the expensiveness. In my opinion, there’s only one time to mention your accounting fees: at the end of the presentation.

Here’s the reason: accounting is a professional service requiring trust on the client’s part, and personal knowledge of the client on the accountant’s part. The success of the interview is dependent on both being present. Therefore, mentioning fees before both have been achieved will likely result in fees becoming an excuse for not signing on.

Additionally, accounting is often times misunderstood by small business owners. It’s perceived by the inexperienced entrepreneur as simply a means to the tax return, and not a tool for greater control of their business and improved profitability. Therefore, we need time to educate the prospective client on how our services can solve their problems and help them make more money. Once the client knows we’re on his/her side and are working to make the fee his/her best investment, the fee is simply a formality.

Occasionally you’ll have potential clients prematurely ask you “How much do you charge?” Whenever possible dodge the question by telling the bargain hunter that it will depend upon a number of factors such as how big their company is and what services they want you to perform. If they push harder tell them, “It could be as low as $75 per month, but I need to know more about your business before I answer further” and leave it at that. Of course, if it’s only going to take 30 minutes to do their accounting, then $75 would be fair. Otherwise, it will cost more.

Don’t forget, that you want to state the fee as a fixed retainer fee for the next six months, not an hourly rate. Those of you that are students of ours have the fee calculation form from the learning materials with which to calculate the retainer fee based on number of transactions. If you’re not a graduate of the Universal course then estimate how much time you think it will take, multiply the hours by $45 (or whatever rate you are charging) and give the client that fee.

With the right preparation, the fee will be the best part of the whole presentation.

Module 4 of the Professional Bookkeeping Program teaches how to market yourself and your Accounting and Bookkeeping Business.
Learn More About the Marketing Module of the Professional Bookkeeping Program

Ask for Referrals Without Really Asking

Ask without asking? “Just about every course or book that deals with referrals teaches you one single method… ‘asking’ for referrals.”

David Frey, President of Marketing Best Practices Inc., goes on to say, “…there’s a HUGE problem with this approach. People HATE to ask for referrals. You hate it, I hate it…”

Mr. Frey also says, “Asking for referrals is right up there with asking your friend to come to church with you on Sunday. It’s downright uncomfortable.”

Although many of us might agree with Mr. Frey, he obviously didn’t read the first article in this newsletter. Nevertheless, if you don’t like to ask for referrals, that’s OK. There is a way to ask… without actually asking. Keep reading and I’ll teach you how.

The Automatic Referral

You build the automatic referral right into your workflow.

A system is a process that has a predictable result because it happens the same way every time. The automatic referral needs to be systematic and transactional, not relational. In other words,the referral is created as a part of the transaction, not by your relationship to your client.

It’s easy to build your referral system into your transaction. It could be as easy as a coupon on the back of your statement or invoice. Thank them for the order and at the same time ask for a referral. “I sure appreciate your business. For every client you refer to my office, I’d like to give you a dinner for two at [name of restaurant here].”

Of course you don’t have to use dinner at a restaurant as the reward for a referral. It could be cash, a credit on their next order, anything that might entice them to refer you to a friend. I’ve seen a $5 gift certificate to Chili’s Restaurant bring bank managers out of their offices to sign up new checking accounts. When was the last time you saw a bank manager stop what he was doing to order new checks? These kinds of incentives really work. And if you make it part of the transaction, it’s easy.

How Much Is a New Client Worth?

How much are you willing to spend to get a new paying client? Determine how much they’re worth and how much you’re willing to pay, and come up with some kind of offer that your clients can’t refuse.

To show you what I mean, let’s take a look at some of what we’ve discovered over the years at Universal Accounting. The average bookkeeping client is worth $300 in monthly billing each and every month. Over the course of the next two years, you’ll find that a single customer is worth $7200.

The graph below will show you how valuable each client will become in a very short time.

I think that’s worth a dinner or two for a client who gives you referrals… don’t you? Now, let’s make this even more interesting. Let’s look at this scenario and include doing their taxes along with their bookkeeping.

Over the years we’ve discovered that the average business client who adds tax planning and preparation to bookkeeping services increases that $300 per month to $400 per month. Over the course of the same two years, that client is now worth $9600! At this point, a referral is worth a lot of money to your bookkeeping and tax practice.

Making the referral process a regular part of how you do business, gives your clients an incentive to give you a referral, and you’ll watch the referrals pour in.

“Automatic” Referrals Without Asking… What Could Be Better?

It really does get better. Referrals are only part of creating a successful bookkeeping and tax business. You’ll also learn everything you’ll need to know to do the books for any small business.

There’s never been a better time to become a professional bookkeeper and accountant. You won’t find a better place to begin than with Universal Accounting. Be prepared with all the educational tools you need to learn small business bookkeeping and accounting and all the marketing education you’ll need to have a successful business. Simply click on the link below and learn how to start your successful and profitable practice today.

Show Me How Achievable, Profitable and Easy a Professional Bookkeeping Business Can Be

UAC is Giving You One More Thing to Be Grateful for

In case you weren’t grateful enough over Thanksgiving, we’re giving you another chance to effuse with gratitude. Yep, that’s right. At Universal Accounting we’re all about helping you celebrate the holidays to the best of your ability. And if you didn’t get the chance to offer thanks for your business and all the prospects available to you, well, here’s your second chance. Call it Thanksgiving Do-Overs (no, not leftovers. Do-Overs).

Grow Your Bookkeeping and Accounting Practice

Wouldn’t you like to infuse your business with profitability? Well, first you should rest-assured that your occupation of choice is well-favored. The U.S. Bureau of Labor Statistics estimates that by 2008 accounting opportunities will increase by 20%! In addition they state, “Demand for full-charge bookkeepers is expected to increase as they are called upon to do much of the work of accountants. Those with several years of accounting or bookkeeper certification will have the best job prospects.”

UAC’s Professional Bookkeeper Program

If you haven’t already, you could ride this small business wave by opening your own accounting practice. This is your chance to earn the certification that will demonstrate your expertise to current and potential clients.

More than 50% of small businesses fail, and much of that failure can be attributed to poor financial management. And when you consider that over 85% of accounting opportunities are with small businesses, becoming a small business accountant is, well, good business.

At Universal Accounting, we understand the needs of the small business like nobody else. We’ve helped people like you advance their careers in small business accounting for over 25 years. The Professional Bookkeeper Program is designed specifically to address the needs of small businesses, and Universal Accounting Center’s small business accounting course is the most complete of anything else offered today. And depending on your schedule and situation, it will only take you 60 hours to complete. Imagine earning a professional designation in less than one month!

Your Business, on Steroids

One of the greatest challenges for many small business owners comes in the marketing. You may love working with numbers but groan at the thought of promoting your services and expertise. Universal Accounting Center understands this struggle and can help you eliminate it.

UAC has developed a turn-key marketing solution which will enable you to grow your business with our proven system. You could work for years on a marketing plan, hitting and missing, only to find your business growing at a snail’s pace. Imagine learning which marketing strategies work by watching our 8-DVD course, the Universal Practice Builder!

What was once a live, 2-day workshop in now a professionally mastered DVD program that you can work through at your own pace. Designed to teach you the art and science of getting clients, the UPB Program will train you in over 12 marketing strategies that you can implement immediately!

This special professional package will enable you to grow your practice significantly in the New Year. With small business training and marketing expertise you’ll be equipped to become the premier accounting practice in your area. So if you didn’t have enough to be grateful for last week, now’s your chance to give thanks. Because once you’re finished with the Universal Practice Builder Program you’ll join the ranks of our thankful graduates.

Don’t wait to prepare for the New Year. Because 2008 is the Year of the Accountant. Isn’t that you? Order now!

A Big Investment for Your Small Practice

You can say the right thing about a product and nobody will listen. You’ve got to say it in a way that people will feel in their gut. Because if they don’t feel it, nothing will happen.-William Bernbach

Your business depends on your ability to market it. If you don’t have the skills or the know-how necessary to accomplish that, then your business will flounder. And while you may believe that the quality of services you offer is enough to generate word-of-mouth marketing, the honest truth is that unless you’re actively involved in the promotion of your business, you’re actively involved in its demise.

We understand that time is money. You probably feel like the more time you spend marketing, the more billable hours you lose. In the mind of any good accountant that just means you’re letting money flow down the drain.

But marketing is an investment. And like any wise financial planner, you are interested in getting the biggest return from your initial marketing investment of time and money. But without proper training how can you be expected to know the most effective strategies for your target market?

Let the training program with over 25 years experience be your guide.

The Universal Practice Builder Program

We understand that every hour your spend marketing must produce significant returns. As a small business owner yourself, you can’t waste time on ineffective marketing techniques. While some techniques you may have studied will work well with one demographic, they may bomb with another. So you must select those that are proven effective for your target market: the small business owner.

With over 25 years experience providing training professionals in small business accounting, Universal Accounting Center has also prepared graduates for success by teaching them how to market their unique and valuable services. We know what works. And we know what doesn’t work.

When you enroll in the Universal Practice Builder Program you partner with seasoned freelance accountants who know what it takes to make a practice succeed. Not only will you be trained in over 12 proven marketing strategies, but you will develop your own customized marketing plan that will enable you to secure 15 to 25 qualified leads per month. You will learn how to offer client-generating seminars and will have access to three months worth of master coaching from our qualified staff.

And here’s the kicker. This program is guaranteed to help you generate $30,000 in annualized billings in just 12 months! That’s more than 17 times the cost of tuition. Can you think of an investment with such a quick and large return?

You may not have the skills or the marketing know-how right now, but in less than one month you could acquire them. Not only that, but UAC is known for offering valuable, follow-up services that will ensure you are properly applying all that you have learned.

An Even Bigger Investment

Order now and you will receive QuickBooks Made Profitable, a program designed to help you translate your QuickBooks expertise into a larger clientele. You’ll be trained in a proven system in using QuickBooks to attract larger numbers of prospective clients while representing yourself as the expert. Learn how to leverage your time, meet potential clients and offer them services that will help them reduce taxes, increase profits and put money in the bank in such a way that you will be asked the question that we are all longing to hear: “How much do you charge?”

When it comes to building a viable and thriving business, there’s no time to wait. Stop wasting your time on ineffective marketing techniques, or worse yet, stop neglecting your business’s marketing efforts altogether. In just a matter of weeks, you can have all it takes to catapult your business as the premier accounting practice in your area. Order this amazing package today!

Tax Simplification: “Not Gonna Happen”

A recent student asked me how to respond to a well-meaning relative who felt that accounting was a dying occupation because of tax simplification. I’m often asked if a simpler tax code, meaning flat-tax or federal sales tax, would eliminate the need for accountants. Those who ask this question obviously don’t understand what an accountant does.

First of all, I don’t think such a tax bill could ever pass. Too many special interest organizations with powerful lobbying groups will lose too much to let any such bill pass without a fight.

• Religious organizations will argue that their funding from contributions will dry up.
• National homeowners’ associations will argue (and rightfully so) that homes will drop in value as mortgage interest will no longer be deductible.
• Medical organizations will buy TV ads telling stories about people with debilitating diseases and high medical bills going to ‘tax prison’ because they lost their medical deduction.

And, those are just the obvious problems.

Plus, most tax simplification plans will tax the poor heavier and the wealthy lighter than they do now. That’s a hot-potato that neither political party will support.

No, the public will never let such a thing happen.

Even if we were to assume that such a tax program will be adopted, accountants will remain in high demand. Certainly simpler tax laws may eliminate tax preparers. But most tax preparers aren’t accountants.

The primary and most beneficial roles accountants perform are in the area of management controls, and cash management. A company stands to gain much more through staying on top of these areas than saving on lower taxes. Let’s face it, companies don’t go out of business because they are paying too much in taxes, but they will if they have poor controls, or poor cash management.

Big businesses certainly understand this. A large company I once worked for had four thousand accountants. Less than 1% of these accountants worked in the tax department. In other words, 99% of the accountants with this company were working on providing management with crucial information regarding profitability, while monitoring the company’s financial position. This company understood that income taxes are a necessary evil that require some attention, but the potential for business improvement is much greater in other areas.

So, do we ignore taxes? Certainly not! Taxes must be completed, and done correctly according to law. Besides, a good tax preparer may save a tax payer hundreds of dollars, if not thousands in taxes — sometimes many times the cost to have the taxes prepared.

Tax preparation will always be needed. And, my guess is that it will become even more complicated before becoming any easier.

Regardless of the tax law, however, accountants will always be a critical part of the business world.

Also, see the article entitled “Why are Businesses Begging for Your Services?” This is “must reading” for every freelance accountant.

Strategic Partnerships (Part Three of a Three Part Series)

Improving the Profitability of Your Professional Alliances

In this valuable series on increasing the effectiveness of your professional relationships we have defined “strategic alliances” and determined who makes a good strategic partner. We have also discussed where, when, and how to secure strategic partners. We hope that you’ve come to appreciate the lucrative nature of these relationships; it’s why we call this concept Networking on Steroids.

And now that you see just how valuable these relationships can be, we would like to bump it up a notch and suggest that you Super-Size your professional alliances.

The Mastermind Group

We have discussed the importance of building individual relationships with like-minded professionals. Now consider how much more effective these partnerships would be if you super-sized them. What, you ask? Imagine that instead of regularly meeting one-on-one with your strategic partners, you leveraged your time by creating a mastermind group where all your partners could meet at the same time and benefit from this collaborative effort. Now instead of taking countless hours to meet with these partners individually you meet with them all at the same time, enjoying the mind-meld that results when professionals with the same customer profile are able to advise one other and share referrals. These groups should not only meet weekly, but set group goals to assist other members to achieve certain levels of client growth.

Mastermind Groups also present great opportunities for marketing partnerships. Because Mastermind Groups generally offer complementary services, it’s extremely beneficial for these groups to pool money in order to purchase advertising. They can also go in on a booth at a trade show, taking turns manning the booth and promoting their services.

Strategic partnerships are much more valuable than traditional networks. In building strong professional alliances you increase your clientele, your bottom line, and your business standing. You join the company of like-minded professionals who have your best interests in mind as you work together to grow one another’s businesses. While it may require more time and energy from you, it definitely offers a large return on that initial investment. And as an accountant you can appreciate a good ROI when you see one. Take the time to start building strategic partnerships today!

Leverage Your Professional Alliances and Build Your Clientele

The information from this three-part series was inspired by a section in UAC’s Universal Practice Builder (UPB) Program. This course teaches you how to grow your practice and become more profitable than you’ve ever imagined. Universal guarantees that after completing the UPB program you will earn more than $30,000 in annualized billings in just 12 months. Not only that but you’ll have access to 12 highly-effective marketing strategies that will help you secure 15-25 solid leads per month! If you’ve been curious but unwilling to commit to a brighter, more rewarding future, visit our site and see what others are saying about the Universal Practice Builder Program. Click to view a video that will show you why one graduate knows this program more than paid for itself after just one client. Hear why another felt she didn’t have to wait to complete the entire program before she could begin using what she learned in Module One to increase her clientele. And understand why all of them are grateful to have completed this program. Visit our Universal Practice Builder site now and see how proven marketing approaches can grow your business, guaranteed!

Strategic Partnerships (Part Two of a Three Part Series)

Improving the Profitability of Your Professional Alliances

Networking is a powerful and effective way to promote your services. But in this series on strategic partnerships we’re talking about a networking approach that is even more powerful and more effective than your father’s brand of networking. We’re talking about professional alliances, or maybe more aptly named Networking on Steroids. Last week we discussed what, exactly, a strategic partnership is, and who makes a good strategic partner. This week we’re getting down to the nitty-gritty: how, when, where and why you build professional alliances. It’s an approach that’s bound to change the way you do business.

WHERE and WHEN do you establish these partnerships?

There are countless places you can meet these potential partners. Chamber of Commerce meetings are a great place to start, especially if you are a small, local business owner. There you can build relationships with like-minded professionals who are interested in building these valuable partnerships. At one of our executive’s initial Chamber of Commerce meetings, he met with the President of that Chamber. The result was that we created a strategic partnership through which we offered a free tax review for every Chamber member. Eventually that relationship grew to include a special offer for all new Chamber memberships. In fact, the executive volunteered to be the Chamber’s ambassador, and he delivered the welcome basket which included his offering to those businesses.

In addition to these formal networking opportunities, consider all the people you currently interact with, including family, friends, associates, neighborhood businesses, and establishments you frequent. The next time you meet these individuals take the time introduce this idea of strategic partnering; you could well be on your way to more profitable relationships.

HOW do you pursue a strategic partnership?

Email and phone correspondence have their place, but when establishing a strategic partnership you should meet in person. Make an appointment and have specific objectives in mind so that your meeting is focused with a higher likelihood for success. It is important that you first demonstrate what you could provide them and their clients before asking if they are willing to give something back in return. By the end of your exchange you should reach an agreement on how your strategic partnership will work. When and how often will you meet to grow your partnership and develop a collaborative strategy?

David Sherwood followed this model when growing his own accounting practice in Utah. In his first meeting with a strategic partner, a local banker, he offered a free accounting management seminar to those clients the banker was willing to refer. In the middle of this meeting, David’s new strategic partner sat down at his computer, pulled up his database of clients, and called each of them with a personal invitation to David’s QuickBooks seminar. During his first 6 seminars, David was able to get 21% of the referred businesses to become clients.

WHY would you want to build strategic partnerships?

There are countless reasons why these relationships are well worth the investment of your time and energy. Most obvious is the fact that it enables you to build your practice. The referrals it generates will increase your clientele and ultimately your income. But in addition to that you widen your area of expertise. As you interact with these partners - bankers, lawyers, financial planners, web designers, and the like - you will learn more about those industries and will be able to consult your clients on issues that extend beyond accounting. And when you refer your clients to these partners you’ll find they generally receive more attentive treatment because your strategic partners realize that if your clients are dissatisfied they will return that information to you. This increases accountability among partners, which in turn, increases the quality of service your clients receive.

Shannon Beck of Professional Accounting Solutions believes there’s great profitability in forming strategic partnerships, or as he calls them, alliances. He explains, “It’s like the big iceberg that the Titanic hit. They saw the top above the surface but they didn’t see how big the iceberg was underneath the water. And your networking groups are typically what you see on top of the surface; it’s your alliances that you typically don’t see the potential of until you become a part of their group as a whole. You’ll usually get three to six new clients a month, through those alliances, per alliance.”

Return next week when we wrap up this series by talking about how to make your professional alliances even more effective by creating Mastermind Groups.

Discover Countless, Profitable Marketing Approaches

We’ve been working with financial professionals for over 25 years and we know that most are uncomfortable with the idea of promoting their services. Unfortunately, no business can become truly successful unless it has a strong marketing campaign. But you don’t want to waste excessive amounts of time marketing your business-you want to do what you do best: accounting. That’s why Universal Accounting Center has created a program that enables you to learn how to use the most effective marketing approaches in the lest amount of time so that you can spend the rest logging billable hours! The Universal Practice Builder Program will not only train you in 12 profitable marketing strategies that you can begin using immediately, but it also comes with a guarantee that you’ll earn $30,000 in NEW annualized billings in just one year! You’ll learn how to create 15 to 25 qualified leads every month, growing your business to the point where you might have to turn potential clients away. Imagine more business than you can manage. Does that sounds like a professional investment worth your while? It is!

And not only that, but if you enroll today you will receive our free gift to you: Financing a Small Business, a 126-page manual designed to help individuals put together a successful loan package. Complete with a sample loan package and amazing resource materials this is a great reference for professionals who provide financial consultations to their clients. Imagine how this one free gift can help you expand your services so that you can assist clients who need help compiling their own loan packages.

It’s time to change the face of your business so you become the premier freelance accountant in your area. But to do so, you need to make yourself more visible and prominent using effective marketing techniques. Let us help you promote your business and become more profitable. Enroll in the Universal Practice Builder Program today!

Strategic Partnerships (Part One of a Three Part Series)

Improving the Profitability of Your Professional Alliances

If you think this is another article on networking, think again. Networking is a tired term conjuring images of business luncheons and industry conferences where attendees weave in and out of conversations, exchanging business cards as they go. Strategic partnering, however, is a new breed of networking that’s more powerful and focused than anything you may have tried before.

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

One obvious choice for a strategic partner for an accountant is a payroll service. Our firm, like many others, will not do payroll; it’s too demanding, and its margins are low. Because of that we refer our clients to a local payroll service provider. In doing so we establish a strategic partnership wherein the payroll service is also willing to refer their clients to us. They have hundreds of clients and are constantly seeking new companies to work with, to the tune of 3-4 new clients per week per sales rep. In order to tap into their client base we provide a free one-day accounting seminar for their existing and prospective clients. They promote it as a special benefit for enlisting their services, and we secure the opportunity to promote our accounting services to them. It’s a win-win opportunity.

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

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

1. What will they get from the relationship?
2. What will you get from the relationship?
3. Are they the type of individual who will provide referrals?

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

What will they get from the relationship?
We have heard many accountants complain that some markets are unbreakable; a close-knit group of professionals already exists in their community and they refuse to open their circle to a rookie. Having something valuable to contribute can be the secret to gaining entry to these elite groups. When you can provide their clients with something valuable that will reflect positively back on them they will be more likely to not only refer their clients, but provide you with ringing endorsements.

Before meeting with potential partners you must know beforehand what you can offer them. Consider introductory services you could provide their clients at no cost: QuickBooks seminars, tax consultations, or business assessments. All of these would benefit their clients while exposing them to your professional expertise.

What will you get from the relationship?
You should know, specifically, what you are looking for in return. Do you just want a list of referrals or would you prefer a glowing, personal endorsement from the potential partner? Consider the level of commitment you are looking for before making any arrangements. Be willing to press the potential partner for their contribution to this relationship and walk away if it doesn’t prove beneficial; only when both are willing to give will the strategic partnership work as intended.

Are they the type of individual who will provide referrals?
Business professionals come in all shapes and sizes. There are some who would find a strategic partnership to be an amazing opportunity while others might appear enthusiastic and not follow through. We suggest that if you haven’t received any referrals after 90 days you move on to another potential partner.

Return next week when we will talk about WHEN, WHERE, WHY, and HOW you can go about building these strategic partnerships.

Universal Accounting Center Can Help You Promote Your Practice

Building strategic partnerships is one way to grow your business by increasing your clientele with referrals. In fact this is something we teach you about in our Universal Practice Builder Program, designed to train you how to promote your accounting practice. In fact, for over 25 years we’ve taught professionals like you how to grow their businesses and market their services to those who need them most. Come learn more about our Universal Practice Builder Program - what we like to call Marketing on Steroids. Here’s just a sampling of what you will gain from enrolling in this phenomenal program:

A guarantee of $30,000 in new annualized billings in only 12 months

1. 12 marketing strategies that you can implement immediately
2. A process which can produce 15 to 25 qualified leads per month
3. 3 months of coaching via telephone and Internet
4. Training on a computerized database tracking program
5. A presentation DVD to show potential clients

Sound interesting? We’re confident that you’ll find it more than just interesting but profitable as well.

Whether your business is new, seasoned, or just a dream in your head, the Universal Practice Builder Program can help. And if you enroll now, you will also get Financing a Small Business, a 126-page manual packed with clear-cut instructions and terrific resource materials that will make creating a loan application package easy. It even includes a sample loan package that you can use as a model. This book is a must-read for business owners interested in financing options, or accountants that will be in a position to give financial advice.

If your business isn’t growing, it’s either idling or dwindling. Take advantage of this amazing package deal to ensure it’s on the path to profitability. It won’t be long before you and your family start reaping the benefits. Order today!

10 Tips to Make Your Website Successful (Part II of II)

“Information technology and business are becoming inextricably interwoven. I don’t think anybody can talk meaningfully about one without talking about the other.” – Bill Gates

When you have a small business, an internet presence in the form of a company website can prove invaluable. If well developed, it can act as an inexpensive marketing tool and a good point of contact. It can also help to further brand your business. Last week we discussed the first 5 of ten steps in creating a stellar website for your business. Here are the final 5:

6. Approach the site as an outsider
You already know everything there is to know about your business, and if you’re not careful that perspective can limit your communication with clients. You may assume people already know things that they just don’t. Step outside yourself for a bit and approach the website as an outsider. Ask yourself the following questions:

• What information would someone in my target market first want to find?
• How would they expect to navigate that information?
• What are their Frequently Asked Questions?
• What information is useful to them?
• What information is not useful to them?

It would be worthwhile to enlist the help of a few people in your target market. Ask them these questions and more. See what they know and what they would like to know more about. Remember the site isn’t for you, but for your potential customers to get more information on your expertise.

7. Use clear, straight-forward text
Members of your target market aren’t accountants or bookkeepers, so you should avoid using obscure lingo. Explain things in layman’s terms without being condescending. Be as straight forward as possible and don’t hide crucial information like pricing. Potential clients want to know how much you charge, and if it becomes difficult to find that information they may leave your site in search of one that’s more transparent. Make it clear that the website only provides estimates for certain services; request that they contact you for specifics. The web industry standard on how long you have to win or lose a viewer to a web site is 8 seconds. Make sure you fill that 8 seconds that will win them to doing business with you.

8. Offer practical information for free
Everyone loves free information. That information can either be posted on your website, distributed through a free newsletter, or both. If people find your website useful, chances are they’ll come to you when they need financial services. It’s also likely that they’ll forward your website on to friends and family. The trick is to give useful information that will attract them to you and your the services you provide. Rule of thumb is don’t share something that you can charge good money for, but you can always lure them in with a mention or a tease about that information.

9. Test your site
Lest you think this is an optional step, we must repeat: TEST YOUR SITE! Nothing is more annoying to web users than a site that doesn’t work. Not only should you make it easily accessible, but you should have it tested (multiple times on multiple computers) and probably by someone other than yourself. You should see how it looks on a PC, a MAC, a computer with a modem, a computer with a cable connection, a computer running Internet Explorer, Firefox, Opera…you get the picture. Be sure your pages load quickly. There is no other quicker way to lose a customer, have an immediate judgment of your professionalism, and perhaps even your competence with broken links, images not showing and web page irregularities that annoy the viewer. You don’t want your website to frustrate potential clients into looking elsewhere for accounting or bookkeeping services.

10. Market your site
There are inexpensive ways to get your website out there. Here are just a few:

• Put the URL on your business cards
• Include the URL with your email signature
• Issue a press release in your local paper
• Run website-only promotions
• Whenever possible, get other websites to link to your site
• Submit your site to directory listings
• Include the URL in your Yellow-page listing
• Include the URL on your stationary

Anything you do in print, smack that web site address on it as well. People you contact are expecting that now, and you can give them a great way to find out more about you when you place it on anything you produce. Now with any promotion you run, you can include your website. You’ll be amazed at how many people are more willing to visit a website than they are to call you with questions.

Don’t let the Internet intimidate you. It’s a great way to promote your business and connect with potential clients. But don’t let all the flash and pizzazz on the internet distract you. Your website should be content-driven and informational. But most importantly, take your time and do it right.

The importance of having a great Internet presence hasn’t excaped the eye of Universal Accounting Center. That is why each Professional Bookkeeper’s Program comes with one for you to set up and start out with. Find out what else the comprehensive training comes with by clicking here.