Accounting and Bookkeeping Articles

Turn Prospective Clients into Current Clients More Quickly

You know the drill.  You’ve met someone who is interested in your services, and it’s time to make the follow-up call where you remind them of their interest and attempt to secure their business.  This can be a daunting and unpleasant task for many professionals who would rather clients fell more easily into their laps.  But, let’s face it-growing your clientele takes time and energy.  And in this case, 4 powerful follow-up techniques:

1. Provide a déjà vu moment

You must remind these prospects why they were interested in the first place.  This will require you to take notes following your first meeting.  Were they most interested in having someone else worry about payroll?  Did they like the sound of increasing their profitability by using accounting knowledge more effectively?  Or did they need professional help bringing their business back into the black?  Whatever the case, you must create a déjà vu moment where the prospect is reminded of what makes your services particularly appealing to their business.

2. Ask open-ended questions

You can’t engage a prospect in conversation by asking ‘yes’ or ‘no’ questions.  Before picking up the phone write down two to three open-ended questions (asking how, what, when, where, why…) that will help them reflect on their specific accounting needs.

3. Add value

The reason why many follow-up calls don’t work is because they simply remind the client of an initial meeting and ask if the prospect is still interested.  In order to enhance your appeal, you should use the follow-up call to increase your value to the prospect.  You might consider offering incentives that are catered to their unique needs.

In his ezine article entitled “The #1 Secret to Making More Effective Follow-up Calls, Glenn Fallavollita says that he has found more success in using the “Oh, by the way…” follow-up method than any other.  He provides the following script:

“The reason for my call is that I am just following up on the ________ I sent to you a few days ago. Oh by the way, many business owners like you are taking advantage of this _______ because they want to reduce their ________ by _____ %. - and I thought you would like to do the same. “

This is an example of how you can further peak a prospect’s interest by talking specifics regarding how your services can benefit their business.

4.    Don’t let a prospect turn cold

Whatever you do, don’t let too much time pass before placing a follow-up call.  The truth is, the longer you wait to revisit a contact, the more you’ve allowed the individual to forget why they were interested in the first place.

Follow-up calls are an important part of your business; without them it would be difficult to reconnect with prospects and, finally, secure their business.  If you want to grow your clientele, you’ll need to place many follow-up calls; implementing these 4 techniques will help.

Let UAC Help You Promote Your Business

Follow-up calls are just one way to promote your business.  If you want to grow your accounting practice, you’re probably interested in ways to attract new clients.  Unfortunately, many accountants and bookkeepers are unaware of how to market their services effectively.  That’s why, for over 25 years, Universal Accounting Center has been training professionals like you how to promote their businesses.  The Universal Practice Builder program will train you in the following (and much more):

• Increasing your annualized billings by $30,000 within the next 12 months
• 12 proven marketing strategies that will increase your client base
• Techniques that can generate 15 to 25 qualified leads per month
• Creating your own customized marketing plan
• Effective phone marketing techniques

In a matter of hours, you will know exactly what you need to do to grow your business.  Advance your accounting practice to the next level and become the premier firm in your area. 

Build Your Practice’s Prestige

One more way to make those follow-up calls more effective is by enhancing your firm’s prestige by enrolling in our Professional Bookkeeper program!  Designed to teach you the day-to-day accounting functions required by small business, this course will give you the skills and the confidence to act as a Profit Expert while you manage your clients’ books.  Here are just a few things the PB course will provide:

• Practical and extensive training in small business accounting
• The opportunity to earn valuable certification as a Professional Bookkeeper
• DVD training materials you can review again and again
• Hands-on instruction that will provide you with experience setting up and managing small business accounts from scratch
• Flexible training that you can master on your own time and at your own pace
• 6 months of follow-up support provided by knowledgeable accounting professionals
• An iron-clad guarantee

These two complementary programs will enable you to catapult your practice to the next level.  Take advantage of this opportunity and enroll in these two programs today!

Resources

Fallovollita, Glenn.  “The #1 Secret to Making More Effective Follow-up Calls.” Ezinearticles.com

Moving from Traditional Employment to Self-Employment with Ease

Victoria Richardson had just had her second child and knew that her employment situation needed to change in order for her to parent as she desired. She explained, “…my list of wants and needs included: complete flexibility to be able to be with my children when they needed me… I needed to be making at least $60,000 a year. I needed to be able to have a lot of flexibility, and wanted to work an abbreviated work week. And what I found was that there was nothing out there that was willing to give me that package.  I discovered that the only option that was available for me was to be able to start my own business.”

So Victoria began the process of launching her own accounting practice, and her first step ensured a happy solution for her and her current employer.

From Ex-Employer to First Client

Victoria’s strategy proved to be successful.  Instead of giving her boss two-week’s notice, Victoria presented him with a win-win situation.  He would continue to enjoy her accounting expertise as a contract accountant while she would be free to enjoy a flexible work schedule with her ex-employer acting as her first client.

Her confidence makes freelance work a lucrative business for Victoria.  She said, “I know what they want to hear, I know what’s going to make them feel comfortable, and I know what their concerns are. And the Universal Accounting courses taught…a lot of it has to do with…semantics; it’s the language that you present it in. When I talk to them about increasing their profitability, they listen. It makes sense to them. I can feel confident in helping them discover what problem areas they have, and… ways they can work through that, so it’s not a situation where I feel like, you know, anybody else is coming in and giving them that because… that’s what they’re looking for and they’re not finding it anywhere. I can come in and do it, and I can do it and save them money.”

But she’s not the only one who has recognized the value of this transitional strategy.  In today’s market where employers are looking to cut back, many recognize the value in reworking their relationship with an employer so that it benefits both of them.  In changing your position from full-time accountant to contract accountant, you save your previous employer money while enabling yourself to start your own accounting practice with one solid client and the opportunity to have that client refer many more.

David de la Rosa did the same thing with Motorola.  He explained, “I started my business ten years ago. I was doing computer training work for Motorola and found myself caught in a downsize. I approached management about letting me serve as a resource by referring me to their clients. That way, instead of Motorola having to carry me on their payroll, Motorola’s customers could pay me instead. They liked the idea-it was a perfect arrangement that offered a great transition for both of us.”

What Do You Need to Get Started?

Like Victoria you need a plan and the confidence with which to back it.  The Universal Practice Builder program is designed to provide you with a blueprint to success.  Not only will we teach you how to market your valuable skills to the right people, but we’ll also teach you how to act as the Profit Expert Victoria described, by enhancing your clients’ profitability with your analysis of crucial accounting data.

This phenomenal program also includes the following:

• A guarantee of $30,000 in new annualized billings in only 12 months
• Tactical goal planning and setting
• The generation of 15 to 25 qualified leads per month
• Phone marketing instruction and training
• Training in the benefits of newsletters and websites
• 12 proven marketing strategies
• Financing options

Take advantage of the recession by redefining yourself as a contract accountant.  You current employer just might welcome the change, and your professional future will be all the brighter as a result.  Learn how to launch your practice today by enrolling in the Universal Practice Builder program.

Resources

De la Rosa, David.  “FastTrac Entrepreneur Stories.” FastTrac.com

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

True Life Success

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

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

Growing His Practice

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

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

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

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

Growing His Expertise and Experience

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

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

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

Client Relationships

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

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

Challenges and Rewards

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

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

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

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

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

What You Should Focus on in December

The holiday season can prove stressful for business owners who are just trying to survive until the New Year.  But we suggest you take advantage of this most wonderful time by following 12 key tips intended to help you acquire new clients, secure more business, and create more loyalty with employees.  Last week we covered the following six suggestions:

1.    Wish your clients a Happy Holiday

2.    Send holiday cards

3.    Schedule employee vacation time

4.    Plan company celebrations early

5.    Get in the spirit

6.    Bring your website into the festivities

This week we’ll discuss the final six of our 12 Days of Business:

7. Practice seasonal marketing

We understand that in December you are extremely busy with year-end, but you can target prospective clients at the beginning of the month with seasonal marketing.  Take some time to brainstorm your holiday promotions and then delegate the final project to a trustworthy staff or family member so you can focus on billable hours.

8. Acknowledge your employees

December is the time when many employees receive bonuses.  Small businesses and firms are generally unable to provide significant monetary rewards to their staff; however, you should make the effort to acknowledge your gratitude in some way.  Consider gift certificates, paid time-off, or some other giving gesture.

9. Don’t offend

Remember, not everyone celebrates Christmas, but some other holiday like Kwanza or Hanukkah.  You may consider remaining impartial in your advertising, mailers, well wishes, etc. by simple saying “Happy Holidays.”

10. Schedule your time well

Once you plan all the holiday festivities you should schedule the rest of your time so that you have enough to actual perform the accounting functions for which your clients have retained you.  At some point you must move beyond holiday preparations and attend to the business of billable hours.

11. Balance your personal and business lives

Perhaps these 12 tips have been overwhelming.  In reality, you can only do so much.  Once you’ve determined which of these 12 suggestions are feasible for you to implement, you must then see that your personal and professional lives are in balance this year.  The holidays are also a time of family and you must be sure to enjoy quality time with them this season as well.

12. Develop a New Year strategy

While New Year’s resolutions have become somewhat passé, it’s still good business to develop goals and strategies for the upcoming year.  If you haven’t already, schedule some time to consider what you must focus on in 2009.

Most importantly, take time to enjoy the holidays.  They do come but once a year, and it would be a shame if you didn’t revel in the season for a bit.

Building Your Business is a Great Strategy for the New Year

And Universal Accounting Center can help!  We’re offering a big holiday package intended to enhance any bookkeeping service or individual ready to start one.  You’ll attain the three things all business owners need to achieve true success: professional certification, marketing know-how, and enhanced service offerings.

Professional Certification

Accounting firms fare better when they provide specialized services.  Small-business accounting is a specialized service that will appeal to a large target market.  Most accountants are trained in big business accounting, which doesn’t address the unique needs of small business owners.  When you enroll in the Professional Bookkeeper program, you receive specialized training in the day-to-day accounting tasks required by small businesses.  Not only that, but upon completing the course, you will have the opportunity to earn professional certification, demonstrating to clients your newfound expertise.

Marketing Know-How

Regardless of how good your services are, you won’t secure quality clients without employing effective marketing techniques. And without clients, your business won’t go too far.  The Universal Practice Builder program will train you in 12 marketing strategies designed to help you secure 15 to 25 qualified leads per month!  Additionally, you will be guaranteed a $30,000 increase in annualized billings in just one year.  That is 10 times the cost of this special holiday package!  Talk about a low-risk investment with high returns.

Enhanced Service Offerings

In addition to offering small-business accounting, you will also be able to provide QuickBooks services.  Our QuickBooks Made Profitable program will teach you how to use your QuickBooks skills to attract even more clients!  You’ll learn how to leverage your time, meet more prospective clients and offer services that will enable them to reduce taxes, increase profits and put more money in the bank.

Get a jump start on the new business year by enrolling in these three programs, today!  You’ll be giving lots of gifts this season.  How about giving yourself a gift that continues to give, in profitable returns, year after year?  Enroll now!

Wise Budgeting Tips

As an accountant you probably think you’ve got your budget under control.  You know numbers and watch your spending to ensure that you are managing your money well.  But unless you’re applying crucial budgeting strategies, you’re not using this valuable tool to its full advantage.  Here are 5 tips that will help:

1. Ensure your budget aligns with your business strategy.

This may seem obvious, but in the day-to-day tasks required in business management, strategy may be forgotten.  There are fires to put out, emergency expenses to pay, and last-minute purchases to make.  So unless you’re vigilantly monitoring your outflow, your strategy may be nickel and dimed into extinction.

If you don’t yet have a strategy, now is the time to develop one.  Does your business require more aggressive marketing techniques?  Are you attempting to grow your firm by hiring a support staff?  Or do you want to focus on retaining current clients?  Whatever your strategy, you should devise a budget that supports and sustains it.

2. Assess your Chart of Accounts.

As an accountant you are very familiar with the Chart of Accounts.  The Chart of Accounts enables you to set up categories that align with your management strategies.  It also enables you to establish a healthy balance between control and responsibility regarding business spending.

3. Establish accountability.

Anyone responsible for spending within your business needs to be accountable for his/her choices.  You may currently be the only person responsible.  However, it’s important that you acknowledge and assess your spending and then make any necessary changes.  You may determine that your budgetary items are best distributed among control areas like marketing, skills development, client retention, management, etc.  This may provide you with more control over outflow.

4. Regularly review your budget.

Establishing a budget and then ensuring that it aligns with your business strategy is only part of this valuable process.  The true benefit of budgeting comes when you regularly review your budget with key players in your business.  In your review you can compare budgeted expenses with actual expenses and discuss discrepancies.  You can also talk with those responsible for various expenses and see how they might revise some of their spending choices.  This is also a good time to implement necessary changes and assess any changes implemented since your last budgetary review.

5. Revise as necessary.

A budget is not set in stone.  As mentioned in the previous tip, as you assess and review your progress it’s important that you make necessary changes.  In fact, that’s the beauty of budgeting.  As you monitor your income and outflow, you can make changes that will influence the future profitability of your business.

As an accountant you may assume that you’ve been using this tool to its full advantage.  But if you haven’t been applying the above tips, you may be missing out on some of the best benefits of budgeting.

QuickBooks Made Profitable

Budgeting isn’t the only tool you can use to increase your business’s profitability.  Our program, QuickBooks Made Profitable, will teach you just how to use QuickBooks accounting software to attract and retain more clients.

Nearly 80% of small businesses use Intuit’s QuickBooks software.  While other programs may be useful, QuickBooks has definitely captured the small business market.  Mastering QuickBooks will not only enable you to better manage your budget and keep more efficient records, but it will also help you teach your clients how to use the software so that you can get the information you need which makes your job much easier.  This program will teach you how to leverage your time while saving clients money in taxes and helping them increase their profits.  What client wouldn’t be interested in that?  We’ll teach you how to use this valuable software package to generate more income!

Don’t wait to grow your business and experience the success your budget will certainly help you achieve.  There are countless potential clients out there in need of these specific services.  You can be the one to provide them.  Order QuickBooks Made Profitable today!

What It Takes to Start Your Own Accounting Practice

Hutzpah, also spelled “chutzpah,” is a Yiddish word defined by the wiktionary as “nearly arrogant courage; utter audacity, effrontery or impudence.”  While that may sound like a negative term, it is a characteristic that many entrepreneurs share.  In fact, many people utter the term with reference and upmost respect.  Wow, he sure has hutzpah.  Or, I wish I had enough hutzpah to do that.

Starting Your Own Business Takes Hutzpah

You’ve got to believe that you will achieve success when you first start your own business.  Without that “arrogant courage,” you will always be second-guessing your decision.  And doubt in an incredible energy drain; it will preoccupy you and, if left unchecked, will turn into self-fulfilling prophesy.

So if you don’t have hutzpah, you need to get some.

Universal Accounting Center (UAC) Makes It Easy

While UAC doesn’t necessarily hand out hutzpah along with professional certification, our graduates leave our programs with the confidence necessary to start their own businesses.  Read what they’re saying about our Professional Bookkeeper Program:

This course has literally changed my life. When I started I hardly knew the difference between a debit and a credit. Now I have the confidence to tackle almost any type of business and do their books.-A. Moody

Great practical course providing you with the skills and self-confidence to go out and build your own bookkeeping/accounting service.-B. Pace

The subject matter covered in your course has been invaluable. I have worked in the accounting field for the past six years; your course gave me the training and confidence I needed to advance in this area.-G. Morton

This course is definitely NOT just an introductory course, although it is wonderful even for beginners. It is a comprehensive accounting and bookkeeping course that truly taught me everything I would need to know to start my own accounting business, and gain clients with confidence.-J. Young

What makes this program so special?  Taught by seasoned professionals who understand the unique demand for small-business accountants, this self-paced program will train you using a hands-on instructional approach designed to give you the experience necessary to start a business’s books from scratch.  Whether you’ve been working in the accounting profession for years or have little experience at all, this course will help you gain the knowledge and hutzpah necessary to start your own accounting practice.

The Professional Bookkeeper Program

This course is comprised of four modules contained on DVD so you can view them again and again.

• • Module 1-Accounting Made Easy
  • Module 2-Practical Small Business Applications
  • Module 3-Advancing your “Account-Ability”
  • Module 4-Building a Successful Accounting Service

Each one comes with its own manual where you are expected to practice the concepts and skills you learn.  Upon completion, you will take an exam through which you can earn professional certification, demonstrating your expertise to prospective clients.

In addition to all that you will also receive two additional months of follow-up support, your own customize business website, and two additional practice sets.

Offer Complementary Services and Increase Your Bottom Line

If you order now, we will increase the value of this package by adding our newly-released 2008 version of the Professional Bookkeeper’s Guide (PBG) to QuickBooks.  More than 80% of small businesses use this accounting software to manage their finances.  By mastering this software, you can begin offering QuickBooks setup, consultation, and help services.  And when these same clients need a little accounting help, who will they turn to?  YOU, of course!

This newly updated program, written by QuickBooks Pro Advisor Brent Peterson, includes step-by-step instructions that will lead you through the accounting process.  Also included:

• • 16 interactive CDs
  • 4 full-color instructional manuals
  • Training designed for all user-types
  • Over 300 thoroughly-covered topics
  • Hands-on training that will enable you to practice all necessary QuickBooks functions
  • The ability to earn the QuickBooks Specialist designation

This training program beats others on the market, hands down.  And when you purchase this in addition to the Professional Bookkeeper Program you are able to offer a handful of valuable services that will attract even more clients and increase your bottom line.

Get the training necessary to develop a little hutzpah-your new accounting practice depends upon it.  Order today!

Take Our 9-Question Quiz to Find Out

Someday is not a day of the week. -Anonymous

To think too long about doing a thing often becomes its undoing.-Eva Young

Procrastination is opportunity’s assassin.-Victor Kiam

Everyone procrastinates at one point or another in their lives.  But chronic procrastination can hinder your professional success.  Whether you are interested in earning a promotion, starting your own business, or growing a current business, procrastination is generally at the root of most failure.  You can change the course of your future by overcoming procrastination.  But first you must determine whether or not you are a chronic procrastinator and, if so, determine what it may be costing you.

1. Do you make and miss commitments?

Many procrastinators find ways to postpone or avoid commitments they’ve made.  Generally they are enthusiastic about those commitments when they first make them and can envision how they might enhance their lives.  But for whatever reason, by the time aforementioned commitment occurs the chronic procrastinator has found reason to avoid it.

2. Do you talk the talk but not walk the walk?

There are a variety of reasons why individuals procrastinate.  Some are afraid of failure, others are afraid of success and still others may be plagued by a number of reasons even Freud may not comprehend.  Regardless of the reason, individuals rarely procrastinate because they lack the ability and know-how.  Because of this, many procrastinators have oodles of advice that they fail to apply in their own lives.

3. Are you missing out on the life you once imagined?

Regret is often associated with procrastination.  If you find yourself grieving the life you once imagined yourself enjoying, you may have let procrastination get the best of you.  However, don’t despair.  You always have time to turn things around in order to accomplish your greatest dreams.

4. Do you make and keep daily goals?

Truly successful individuals realize that they must continually set and accomplish goals.  They are able to break projects down into management tasks that can be completed on a daily basis.  If you feel overwhelmed by everything on your to-do list and suffer from a lack of direction and accomplishment in your daily life, you may be procrastinating your workday away.

5. Are you currently working towards an improved future?

If you have a dream but are not working to accomplish that dream, then you are procrastinating a grand and glorious future for yourself.  Regardless of what it may take to accomplish your dream, unless you are currently doing something, even if it’s small, to achieve your dream, it will forever reside in your future.

6. Are you often disappointed?

Chronic procrastinators are often depressed and disappointed.  Their lack of success plagues them and often their families.

7. Do you sacrifice long-term happiness for short-term comfort?

Long-term happiness often requires sacrifice and hard work.  Procrastinators often fool themselves into thinking instant gratification is what they really want.  But when you consider that a little hard work and sacrifice can change the course of your future for the better, it may be easier to forgo the short-term comfort.

8. Are you easily distracted?

Procrastinators often find ways to put off doing important tasks.  Whether they become distracted by email, television, housecleaning, or phone calls, they often welcome the interruption.

9. Do you dream often but take action less?

Procrastinators often dream of a bright and glorious future but rarely take action to turn those dreams into realities.

If you answered “yes” to seven or more of the above questions, chances are you are a chronic procrastinator.  And if you do procrastinate, you are probably experiencing continual disappointment and professional dissatisfaction.  But don’t fret; just because you’ve procrastinated in the past doesn’t sentence you to a long and dissatisfying future.  You can take action and overcome your procrastination.  Join us next week when we will discuss tips for eliminating those self-destructive procrastinating tendencies.

Stop Procrastinating, Today!

If you’ve considered enrolling in our Professional Bookkeeper Program but have procrastinated in making a decision, telling yourself you want to learn more first, today is your day!  When you order our video, Introduction to the Professional Bookkeeper Program, you will learn all about this priceless course and will even have access to sample modules, demonstrating the highly effective instructional techniques we use.  For less than $10, you can add this video to your reference library.  Or you can watch it online for free.  Stop procrastinating today.  Order the video now!

In December 2007, Entrepreneur.com published an article entitled “Test Run” which shared ways to perform quick feasibility testing on a business idea. Jake Rockwell, owner of Rockwell Products LLC in Medford, Oregon has his own approach in determining whether or not a business venture will be successful. He takes the following three steps:

1. Check for limited competition. You want to ensure that the market isn’t already saturated with accounting practices. Take a look in your local phone book to see how many accountants are listed. Also consider whether they offer any specialized services, like small-business accounting or financial consulting, that you hope to offer. The more unique and valuable your services, the more feasible your business.

2. Consider the likelihood of returning customers. Accounting services are great because all businesses are required by law to perform various accounting tasks, and the need for this service is long-lasting. Businesses need payroll services performed on a monthly and even semimonthly basis. Most accounting tasks as like this, which means most of your clients will be regular clients.

3. Consider how management-intense the venture will be. You must consider how much of your time will be dedicated to managing the business as opposed to performing billable hours. If the venture requires enough managerial oversight you will have to hire staff to which you must delegate various tasks. Luckily, when first starting an accounting practice, you can work from your home and manage your business without much effort. However, depending on your visions for growth, you may eventually need to expand your efforts to include a rented office space, partners and a support staff.

In addition to Rockwell’s three feasibility steps, Entrepreneur.com recommends that entrepreneurs get feedback from prospective clients. As you ask these individuals what they want from their accountants, whether or not they’re satisfied with their current accountant, and how much they’re willing to pay to get the services they need, you will have a better idea of how sustainable your business idea is and how you might tweak your services in order to achieve your profitability goals.

The Social Enterprise Reporter, in an article entitled “The Quick Feasibility Test,” shares Rolfe Larson and Andy Horsnell’s four criteria used to test for feasibility:

• Strategic alignment-Do you want to do it?
• Operational-Can you do it?
• Marketing-Will customers buy from you?
• Financial-Will you achieve your profitability goals?

They also suggest a graduated series of feasibility tests that take you from self-assessment to a more researched-based, data-driven process of determining whether your business is earmarked for success.

Whether you plan on starting a business from scratch or hope to add new services to a current business, feasibility testing can help you determine whether or not the venture is worth the effort, and if so, how to best approach it.

Financing a Small Business

If, after performing feasibility testing, you feel it’s time to start your own practice but would like to take out a small business loan first, you can order Universal’s valuable manual Financing a Small Business which will walk you through the process of preparing a loan package. This 126-page manual includes clear-cut instructions, valuable resources, and sample loans that provide valuable models which will make the process of applying for your own loan much easier. Order now! This manual will help you start your own business today while enabling you to consult countless clients on the same process in the future.

References

Hendricks, Mark. “Test Run.” Dec. 2007 Entrepreneur.com

Larson, Rolfe and Andy Horsnell. “The Quick Feasibility Test.” 13 Feb. 2005 Social Enterprise Reporter

Larson, Rolfe and Andy Horsnell. “Quick Feasibility Screen.” www.rolfelarson.com

Larson, Rolfe and Andy Horsnell. “RLA Quick Feasibility Test.” www.rolfelarson.com