Accounting and Bookkeeping Articles

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

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

1. Take advantage of technology

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

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

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

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

2. Rethink your marketing strategy

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

3. Listen to your clients

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

4. Expand your services

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

The Professional Tax Preparer Program!

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

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

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

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

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

Modules in the Professional Tax Preparer program include the following:

Module 1: Establishing the Tax Foundation

Module 2: Becoming the 1040 Expert

Module 3: Profitable Business Returns

Module 4: Building Your Successful Tax Practic

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

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

1. Operating Excellence

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

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

2. Distinctiveness

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

3. Agility

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

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

Improve Your Agility by Adding Tax Preparation to Your Menu!

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

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

Resource

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

How Saying Less Could Lead to More Sales

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

1.   Stop groveling

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

 2.   Exude confidence

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

 3.   Change your purpose

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

 4.   Eliminate wordiness

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

 5.   Take your time

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

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

The Professional Bookkeeper’s Guide to QuickBooks

Sometimes enhancing your sales pitch can be as simple as enhancing your service offerings.  We’re guessing you’re already aware that nearly 80% of small businesses use Intuit’s Quickbooks software.  While other programs may be useful, Quickbooks has definitely captured the small business market.  Learning Quickbooks will not only help you keep more efficient records, but it enables you to teach your clients how to use the software so that you can get the information you need, making your job much easier.  UAC’s Professional Bookkeepers Guide to Quickbooks will enable you to work more efficiently by using all the features and shortcuts this software offers.  Add to that your ability to add QuickBooks consulting, setup, and help services to your menu, and you have a risk-free venture.

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

Resources

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

Whether you need a book to read on your family vacation or you’re looking to fill some leisure hours after work, you need a good list of recommendations from which you can refer, over and over again.  Here are 5 recommendations designed with the small business owner in mind:

Reality Check: The Irreverent Guide to Outsmarting, Outmanaging, and Outmarketing Your Competition by Guy Kawasaki (Portfolio, 2008)

Guy Kawasaki is well known as an entrepreneur, venture capitalist, popular public speaker, and best-selling author.  His newest book provides useful, humorous, and in-your-face advice about thriving in today’s market.  This book will share (among many other things) the art of schmoozing, the top ten lies of entrepreneurs, and pointers for creating a community.  If you’re interested in knowing how business really functions and how you can take advantage of that knowledge, Kawasaki’s book belongs on your nightstand.

The Illusions of Entrepreneurship:  The Costly Myths that Entrepreneurs, Investors, and Policy Makers Live By by Scott Shane (Yale University Press, 2008)

Mark Hendricks, in his review of this book in “Entrepreneur Magazine,” explains, “Business scholar Scott Shane debunks popular theories with research-based answers to questions such as why people start businesses, which industries are most popular for startups and what are the most common characteristics of the typical entrepreneur.”  This book, which garnered many such rave reviews, demonstrates just what it takes to become a successful entrepreneur.

The 7 Triggers to Yes: The New Science Behind Influencing People’s Decisions by Russell Granger (McGraw-Hill, 2007)

For those looking to hone their sales skills and use techniques designed to better secure clients, you might be interested in Granger’s book, which argues that logical strategies are not as persuasive as emotional ones.  Using research in neuroscience, this book outlines a sales approach designed to help you take advantage of the brain’s 7 natural triggers for making decisions.  Listed as number two on Small Biz Trends Best Small Business Book List, this book is certain to provide practical advice on applying a new and effective approach to sales and marketing.

Smart Networking: Attract a Following in Person and Online by Liz Lynch (McGraw-Hill, 2008)

If you need a timely book that will help you take advantage of the online social networking craze while fine-tuning your face-to-face skills, this just might be the book for you.  Author Liz Lynch shares business strategies that will enable you to take advantage of opportunities in a wired world, launching your practice to new heights by making valuable connections, both online and in person.

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

The recession is hitting small businesses hard, and many are failing right and left; we hope yours is not one of them.  Red to Black in 30 Days enables readers to learn the Universal Project Management Model that will enable them to save failing businesses.   This book is a guideline for financial professionals who work with disheartened small business owners in need of a good turnaround plan.

Each chapter focuses on a crucial aspect of the turnaround process. Simple steps are outlined from initial contact through stabilization and profitable growth. This can be the guide through your first turnaround experience or it can enhance the management skills of even the seasoned contract accountant.  You may find that in offering turnaround services your business (and those of your clients) will be the few that thrive in these difficult financial times. For the cost of this one book you can enhance your value to current and prospective clients.  Order your copy now.

Resources

Danielson, Diane K. “Top Shelf Reading Picks: Book and Blog Reviews for Savvy Entrepreneurs.” Entrepreneur.com Blog Network

Taylor, Ivana.  “Best Small Business Books.” 6 Jan. 2009  smallbiztrends.com

Brian Tracy, professional trainer and Chairman and CEO of Brian Tracy International, offers business advice in his article entitled “Strategic Thinking.”  In it, he suggests approaching strategic thinking with a “two-prong” technique.  In doing so business owners can generate a higher return on their personal and professional energy, which in turn will create greater profitability.

Brain Power

While you may be a master accountant, when it comes to improving your business the most valuable tool you have is your mind.  Your ability to think strategically and plan for a more profitable future is your greatest asset.  Unfortunately, many feel too busy and overwhelmed to take the time to think about their businesses; they spend all their time managing it instead.

The best thing you can do for yourself and your business is to schedule time to think and plan for the future.  Tracy recommends a “two-pronged” approach in which you focus on increasing the return on the energy you invest in both your professional and your personal life.

Energy Investment

Everything you do requires energy; some activities require more and some less.  When you can optimize your return on this valuable investment you not only increase your longevity, but you increase your business’s effectiveness and your personal satisfaction.  Strategic thinking requires you to consider ways in which you can increase your return on this energy investment.  Tracy explains, “…your earning ability is nothing more than the total of the mental, emotional and physical energies that you can apply toward getting valuable results for yourself and your company.”

Action Plan

In order to see the results of your strategic thinking you need to develop an action plan through which you implement your well-measured thoughts.  First you must consider those services that bring the highest financial return to your business.  Tracy recommends that you do more of these things.  Second, consider those actions that bring the highest return on your personal energy.  Again Tracy recommends that you do more of them.

Using QuickBooks to Increase Your Business’s Effectiveness

In strengthening your professional appeal, you want to find those opportunities with a low initial investment and a high return.  One such opportunity is found in UAC’s Professional Bookkeeper’s Guide (PBG) to QuickBooks.  With a modest enrollment fee and a reasonable investment of your time and energy, this product can help you attract more clients while increasing your service offerings and billable hours.  Or if you’re currently employed, it will enable you to enhance your promotion-ability.

QuickBooks has cornered the small-business market with over 80% of owners using this accounting software to manage their financials.  And upon course completion you could earn the QuickBooks Specialist designation, enhancing your professional standing while bolstering your resume!

This training will enable you to master QuickBooks.  We teach you how to do the basic transactions, how to reconcile accounts, where the data goes, and a basic understanding of fundamental accounting principles. We have also included about 18 hours of bookkeeping instruction and a complete, detailed presentation of QuickBooks fundamentals.

This QuickBooks training program stands above others on the market by offering the following:

• Training targeted for all user types
• 16 CDs with 15 hours of training
• 4 books with over 800 pages of instruction
• Full color

In addition, when you purchase the Professional Bookkeeper’s Guide to QuickBooks, you will receive six months’ worth of free e-mail support with the program. This gives you an additional lifeline if you can’t solve a client or employer’s problem.

In less than one month you can increase your effectiveness by mastering a skill that will help you advance your career.  Don’t wait to improve your future.  Enroll in the PBG program now!

Resources

Tracy, Brian.  “Strategic Thinking.” 6 January 2009.  Brian Tracy International

Ed Muzio, CEO of Group Harmonics, offers regular business advice in a segment entitled “At the Whiteboard” on Bnet.com.  In one segment he shares tips on how managers can help employees change their behavior with 6 easy rules.  Following his advice can help you approach employee improvement in a genuine, non-threatening way.

Before he begins, Muzio shares an acronym to help you easily remember the 6 rules: Crazy Corporate People Just Love Acronyms.  Here are the steps represented by each letter in his acronym, CPJLA:

1. Current state

First you tell your employee about the current, ineffective behavior.  The description of the behavior should be short and fact-based.   This avoids a judgmental and threatening tone that can frustrate and even frighten your employee.  For example, you can accommodate this rule with the statement, “I notice that you’re consistently arriving to work at 9:30 in the morning instead of 9.”  The statement is purely factual and only acknowledges your awareness of that specific behavior.

2. Change

Next you state the change you would like to see.  Again, be short and sweet.  Do not lessen the impact of your request by injecting any unnecessary emotion into the discussion.  Consider something simple like, “Would you come to work by nine from now on?”

3. Pure

It’s tempting to reduce possible tension is this conversation by averting your employee’s attention to something more positive.  While that tactic is understandable, it diminishes your attempt to change undesirable behavior.  Avoid softening your request with phrases like, “I think you’re a good employee,” or “You have a good work ethic.”  While those statements may be true, they’re more powerful when they accompany a genuine compliment of positive behavior.  Otherwise they ring false.

4. Just before

You should approach your employee before the anticipated behavior is to reoccur.  For example, if you notice that an employee makes inappropriate comments during staff meeting, the best time to address this is before the next staff meeting rather than after.

5. Limited

Whatever behavior you’d like to see changed, it should be limited in scope.  When you inundate your employees with long to-do lists of behavioral changes, they feel overwhelmed and will have difficulty focusing on modifying their performance.

6. Ask for feedback

You should call your employee in after some time to provide him/her with feedback (for example, “I’ve noticed that you’ve been very punctual these past three weeks”).  Ask how the employee feels about his/her performance and see if there’s anything you can do to assist in continued improvement.

As a manager, your job is to help your employees achieve their full potential.  This won’t happen if you don’t ask them to improve their behavior when necessary.  While this may require additional time and energy, it will pay off in the end with a strong and vibrant staff.

Build a Business with a Strong Support Staff

If you would like to grow you business so that it can support a larger support staff, consider adding tax preparation services to your menu.  Doing so will increase your value to current and potential clients while enabling you to earn $100 plus per hour filing taxes during tax season.  Universal Accounting Center’s Professional Tax Preparer (PTP) Program will help you to become certified in filing individual and business returns, all while becoming a full-service financial provider.  It can also give you the confidence that you have the skill and expertise necessary to prepare personal and business returns with ease.  Now’s the perfect time to learn tax preparation.  Spend some time this summer preparing to make more money next tax season.  Learn more today!

Resources

Muzio, Ed.  “At the Whiteboard.” Bnet.com

Take Steps to Prevent Injuries Cause by Repetitive Movements

Accountants generally spend the majority of their day at a desk, working on their computers.  While you may not expect white-collar workers to experience any serious work-related injuries, the repetitive movements required by a computer can cause any number of symptoms and/or injuries, including carpal tunnel, tenosynovitis (trigger finger), tennis elbow, and thoractic outlet syndrome (TOS).

Brian Bentow, author of The Computer Athlete’s Handbook, explains that many of these ailments can be prevented when small business owners take the initiative to ensure computer safety.  He says, “An ounce of prevention is worth a pound of cure. In more extreme cases, there could be permanent nerve damage. Treatment depends on the type and severity of your injury. [This can range from] rest, physical therapy, massage, and time to medical intervention. It is much simpler and less expensive to avoid and prevent injury than it is to treat it once you, or one of your employees, are injured.”

If you spend more than 5 hours a day on the computer, you are at risk of developing computer-related injuries. In fact, you may already be experiencing symptoms like wrist and elbow pain, tingling in the fingers and forearms, numb and cold fingers, neck, shoulder and back pain, and insomnia. While these symptoms are not conclusive evidence that your ailment is computer-related, it could be a signal that you need to take care in how you approach desk-time.

Bentow’s books focuses on 5 different areas that will enable you to alleviate, and in many cases prevent, these computer-related injuries.

1. Equipment and Usage

Ensure that your working environment is ergonomic, meaning that equipment is designed to provide workers with comfort and safety.  Ergonomic chairs, desks and keyboards provide users with the ability to alter the equipment so that it fits their height and size.  Your keyboard should be neither too high nor too low, causing unnecessary straining.

2. Self-Awareness and Self-care

Bentow recommends that you listen to your body and notice when you’re uncomfortable or in pain.  To prevent injury, one of Bentow’s biggest tips is to keep your body in a neutral position.  He explains, “In general, the neutral position for a joint is the most natural position for that joint. It also requires the least amount of effort and is typically the midpoint in the range of that joint. For your wrists the neutral position is straight, in line, and roughly parallel to the floor. For your elbows and knees, it is at a 90-degree angle. When all your individual body parts (head, shoulders, knees, hands, wrists, forearms, back, hips, etc.) are in a neutral position, then you have reached the goal of having your body in a neutral position.”

3. Nutrition

You’re familiar with all these tips, but it’s helpful to recognize that good nutrition can help prevent computer-related injuries as well as ensure good health.  Get adequate rest, eat well, and remain hydrated.  And while caffeinated beverages may trick you into thinking you have more energy, they really dehydrate your body and prevent proper healing.

4. Strength and Conditioning

Strengthening your muscles will enable you to maintain a good posture, which is paramount in preventing computer-related injuries.  Slouching, sitting on your legs, or working from your laptop in bed, all compromise good posture which negatively impacts your spinal alignment.  When you exercise regularly, you ensure muscle elasticity and strength which support your physical frame even when working at your computer.

5. Stress Management

Countless studies have shown that emotional health is directly tied to physical health.  In fact, stress itself has been named the culprit in numerous illnesses.  When you effectively manage your stress, you manage your health.  Take the necessary steps to ensure that you acknowledge and release stress before it compounds any sickness or injury in your body.

Final Tip: Bentow warns that “…one of the worst things to do is take anti-inflammatories or pain medication when you’re in pain from using the computer. Taking medication may let you work past your normal pain threshold but that can lead to serious injury or even permanent nerve damage.”

Taking the necessary precautions to ensure that your computer-time doesn’t turn into sick leave will work to your advantage in the end.  Following these five simple tips just might save you from pain, sleep deprivation and nerve damage.  It also may help you secure peace of mind and greater prosperity in your business.

QuickBooks Made Profitable

Knowing how to make the most of your accounting software could save you hours of working on the computer.  Consider purchasing Universal Accounting Center’s QuickBooks Made Profitable (QBMP).  For next to nothing you can use your QuickBooks expertise to attract more clients and increase your bottom line!

80% of small businesses use Intuit’s QuickBooks software.  Once you complete QuickBooks Made Profitable, you will be able to use our proven system to attract more clients with your QuickBooks expertise.  Not only that, but when you add QuickBooks setup, help and consultation services to your menu, you enhance your financial service offerings and widen your customer appeal.

Take advantage of this marvelous opportunity to increase your bottom line.  Order now!

Resources

Lesonsky, Rieva.  “Is Your Computer Killing You Softly?” 23 April 2009.  The Small Business Blog at allbusiness.com

“The Computer Athlete Central.”  http://computerathlete.net/

It’s easy to get sucked into all the negative talk about the recession.  But if you do, before you know it, you’ve prescribed to a new and pessimistic attitude that negatively impacts your management style and, quite possibly, your profitability.

While fear and worry may be all the rage right now, allowing those emotions to influence your business approach will only undermine your efforts.  If you continue to think negatively, you’ll find yourself battling a mental current that’s not conducive to financial success.  But how do you turn those negative thought patterns around?  Here are five tips in changing your attitude so that you can experience success amidst the economic recession.

1. Consider what’s working.

While your business may have been impacted by the recession, we’re guessing that you’ve learned a thing or two as well.  Look back on the last six months and ask yourself, what’s going well?  Have you acquired new clients?  Or perhaps you’ve learned new marketing approaches that work better in the current economy.  Maybe you’ve streamlined your budget so that you’re spending less money.

2. Examine your thoughts.

Have you prescribed to this fatalist mentality that the economy is sliding into oblivion?  If so, your daily and even hourly thoughts probably reflect that.  Consider how this must impact your decision-making process.  You may be more tentative about taking risks, growing your business, or contacting prospective clients.  Practice thinking more positive and uplifting thoughts.  Get into the habit of expecting good things to happen to you and your business.  You may be surprised how this step alone can turn your business around.

3. Avoid gloom and doom discussions.

It’s almost vogue to discuss just how bad the recession is.  Newscasts, radio programs, and even water cooler discussions seem propelled by these frenzied conversations about how our nation is on a fast-track to poverty and despair.  If you want to avoid the negative energy associated with these discussions, don’t participate.  You can leave, try to change the subject, or refuse to engage in derogatory conversations that will only point your business towards failure.

4. Consider the opportunities.

Some believe that the recession is only opportunity in disguise, that economic failure is the perfect springboard to small business success.  By exerting more energy and thinking out of the box, you can use this time to grow your business while your competitors lay low.  Adding new services, strengthening your marketing strategy, and streamlining your business processes can all enable you to become the premier accounting firm in your area, regardless of the recession.

5. Practice positive affirmations.

We know, we know.  Looking in the mirror and telling yourself, “I am experiencing great business success,” may sound a little campy.  But the truth is, when you actively fill your mind with positive affirmations, you’re better equipped to rid yourself of negative thoughts and the impact they will absolutely have on your business.  Write a few statements down and consider how they make you feel when repeated.  Eliminate the weaker statement and continually repeat those that are empowering.

Just because your friends are jumping off mental bridges doesn’t mean you have to follow them.  In fact, your business will thank you for maintaining a positive attitude regardless of the economic downturn.  After some time, your positive attitude will certainly be reflected in your business’s success.

Visit Universal Accounting Center (UAC)

There are countless ways Universal Accounting Center can help you take advantage of the recession in order to advance your accounting practice.  To find out how, visit our website and take an electronic tour.  You’ll learn more about our programs, our products, and other services we offer.  Don’t wait to find out how UAC could change your professional future for the better.  Take a tour today!

10 Common Characteristics of Successful Entrepreneurs

There are certain characteristics that will assist you on the road to entrepreneurialism.  And while some may come naturally, others can be developed and honed.  In this two-part series we examine 10 characteristics commonly found in successful entrepreneurs.  Last week we discussed the following 5 traits that we believe are success indicators when it comes to small business ownership:

1.    Passionate

2.    Organized

3.    Accessible

4.    Involved

5.    Progressive

This week we examine the final 5:

6. Respectable

Your reputation as an entrepreneur depends upon your honesty, integrity, and determination to always conduct business honorably.  Countless corporate officers have cost themselves and others their livelihoods because they believed that personal gain was more important than personal integrity.  Because of this, many individuals seek financial professionals who are respected in their community.

7. Time-wise

In order to be successful you must manage your time well.  Not being able to do so can cost you your business.  There are countless individuals with the necessary skills and expertise who mismanage their time and, as a result, mismanage their businesses.  If you are to be your own boss, you must be able to prioritize projects and allocate your time accordingly.  Too many become distracted by the freedom of self-employment and lose track of their businesses as they lose track of time.

8. Customer-oriented

You must be in tune with your clients’ needs and continually build your business with those needs in mind.   Your customer service techniques must be excellent, and you should periodically ask for feedback in order to ensure that they are satisfied.

9. Shameless self-promoter

This is difficult for some people, but in order for the word to get out about your business, you must be willing to talk about your work in glowing terms.  First this might require that you come to recognize and appreciate the value of your own services.  In offering others the opportunity to take advantage of your accounting expertise, you are providing them with informed insight that will enable them to make more profitable business decisions.  Once you become confident of your practice’s innate value, it becomes easier (and more natural) to promote your services.

10. An expert

Prospective clients are looking to pay a professional: an industry expert.  Your credibility is often verified with professional certification.  While you don’t have to become a CPA, you should invest in training that will enable you to earn a valid designation, like that of Professional Bookkeeper.

Earn the Professional Bookkeeper Designation!

Many programs require you take months, if not years, to earn some sort of professional certification.  UAC graduate, Scott Irvins, wanted formal accounting training and decided to do something unusual; he went to a local university to get an associate’s degree in accounting and he took Universal Accounting Center’s Professional Bookkeeper course.  After all that, Scott felt UAC provided more comprehensive accounting training in less time.  He explained:

“The Universal Accounting course - we were done in 4 weeks. I knew everything we needed to do was getting started. As to the other one [University coursework], in that four weeks I hadn’t even finished the first class yet, and 18 months later I finally had a little piece of paper that says I have a degree in computerized accounting. But from the get-go with Universal Accounting Center, their training was fast and simple. In looking at both, it was actually more comprehensive than the 18 month class. We had to do the entire extra general education things, and they broke the training up into little pieces, where in Universal Accounting Center you got the whole picture and you got to do it all in four weeks. It was great.”

The Professional Bookkeeper Program better prepares bookkeepers to serve small-business clients by training them in full bookkeeper and accounting services. Upon completion, qualified students receive the PB designation, assuring prospective clients that these UAC graduates are qualified to take care of the small business owner’s bookkeeping needs. In less than 60 hours you too can earn the Professional Bookkeeper (PB) Designation and develop expertise in small business accounting.

Enhance Your Credentials by Adding QuickBooks Specialist to Your Repertoire

You probably already know that Intuit’s QuickBooks accounting software is popular.  So popular, in fact, that over 80% of small business owners use it to track their finances.  With such a significant percentage, you’re at a disadvantage if you don’t know QuickBooks.

The Professional Bookkeeper’s Guide to QuickBooks is a self-paced program enabling you to skip the parts you may already know while taking the time to truly study those areas with which you’re not as familiar.  And once you complete the guide you can earn a designation proving to employers that you have certified QuickBooks expertise.

Invest in yourself by enrolling in two programs that will enable you to demonstrate your expertise to current and prospective clients.  Enroll in the Professional Bookkeeper program and the Professional Bookkeeper’s Guide to QuickBooks now and earn two professional designations to hang in your office by summer.  Enroll now.

10 Common Characteristics of Successful Entrepreneurs

In order to become a trapeze artist you need a strong stomach, a good sense of balance and a lot of nerve.  Most occupations require their applicants to have a certain set of character traits.  The same goes for entrepreneurs.  Without possessing (or acquiring) some common characteristics, the prospect of starting and growing your own business will be tedious and, in some cases, impossible.

In this two-part series we share 10 common characteristics of successful entrepreneurs.  Where might you be lacking?  Here are the first 5 of 10 important traits:

1. Passionate

You may be able to launch your new business without passion, but why would you want to?  When you’re passionate about what you do, it makes some of the more tedious tasks more tolerable.  It also enables you to maintain your “vision” even when things get rough.  And passion is transparent; your prospective clients will feel and appreciate your enthusiasm.  Something about that engenders trust in your clientele.

2. Organized

Managing your own business requires organization.  If you are unable to locate key files efficiently, it will cost you time and money.  This is especially true for accountants.  Your reputation could be shot if you lose or misplace client information.  If organization does not come naturally to you, this is a trait that must be developed if your accounting practice is going to prosper.

3. Accessible

You must be easy to locate.  Otherwise your ability to secure and retain clients is threatened.  Ensure that you can be easily reached in a variety of ways: via phone, email, or in person.  Most small businesses can enhance their accessibility by having a professional website.  Such a website can act as a personal secretary dispensing information about your business 24/7.  If you have a website, ensure that the information it relays is accurate, up-to-date, and useful.  Include the URL on business cards and in promotional materials so that current and prospective clients can easily locate it.

4. Involved

Your presence and visibility in the community will promote your business more than you might imagine.  By joining the local Chamber of Commerce and other small business organizations, you can become known as the local accounting expert and will acquire many referrals as a result.  You can also volunteer in your community by providing free financial seminars and consultations.  While that may take some time, it’s a great marketing effort that will promote your business more positively than other strategies for which you may be budgeting.  Also, being viewed as an active member in the community will do wonders for your reputation as a trustworthy professional.

5. Progressive

Professionals enhance their expertise by participating in continuing education through conferences, workshops, and training opportunities.  To be seen as a competitive, competent and capable accountant, you have to continually hone your expertise, being current in your discipline and skill set.

UAC’s Training Programs Will Help You Gain That Competitive Edge

Universal Accounting Center offers the best accounting and bookkeeping training available.  As you start your business you want to edge out your competition by offering valuable services to potential clients.  Most of your competitors don’t offer specialized small-business accounting services.  But after completing the Professional Bookkeeper (PB) program, you can!  Consider a training program that is catered to your needs and busy schedule-one that will enable you to earn a professional designation after just 60 hours of your valuable time.

Further enhance your expertise by mastering Quickbooks, the software program used by more than 80% of small businesses owners.  Upon completing the Professional Bookkeeper’s Guide (PBG) to QuickBooks, you will be able to work more efficiently as you use all the features, functions, and shortcuts QuickBooks offers.  Not only will the PBG enable you to manage your own books more efficiently, but it can increase your bottom line as you add QuickBooks consultation, help and setup services to your menu.

Learn more about how Universal’s training programs can help you develop those characteristics shared by most entrepreneurs.  Visit UAC today!

Return next week when we share the final five characteristics of successful entrepreneurs.

6.    Respectable

7.    Time-wise

8.    Customer-oriented

9.    Shameless self-promoter

10.  An expert