Female Business Owners: A Growing Clientele for Financial Service Providers

As an accountant you should be acutely aware of shifts and changes in small business. Your best clients can be small business owners, and the more you know about them, the more likely you’ll be able to attract their business and serve their needs.

According to the Center for Women’s Business Research, “nationally, women-owned firms continue to grow at twice the rate of all firms. Between 1997 and 2006, the number of majority women-owned firms grew 42% to 7.7 million from 5.4 million, compared to all firms, which grew 23%.” And the forecast for 2007 looks even better for female entrepreneurs.

It’s important to know a bit about this large potential client base:

• Many start their own businesses because they have hit the glass ceiling and feel immobilized in corporate America.
• They are more likely to continue in a part-time or full-time job for wage-security.
• Many entrepreneurial women are minorities. According to LookSmart article “Up, up and away,” ” . . . In 2002, the Center for Women’s Business Research reported an estimated 365,110 majority-owned, privately held firms controlled by African American women in the United States, an increase of 17% since 1997.
• In an article published in the San Francisco Chronicle, author Illana DeBare explains that even though female entrepreneurs are starting new businesses at a higher rate than men, they don’t grow their businesses like their male counterparts. She explains, “U.S. Census data show that fewer than 4 percent of female-owned businesses have revenue of $500,000 or more per year, compared with 11 percent of businesses owned by men. And 46 percent of female-owned businesses are tiny enterprises with revenue of less than $10,000 per year, compared with 30 percent of male-owned businesses.”

To build a solid rapport and to gain customer loyalty with female business owners, consider the following:

• Women prefer regular contact in order to build a relationship of trust. Schedule regular contact a client can anticipate (weekly, biweekly, monthly, etc.
• Watch body language when reading a woman’s response to a conversation.
• Maureen Nevin Duffy, author of “Tips for Working with Female Clients,” explains that women associate money with greed, so when financial professionals work with female clients they should emphasize the importance of profitability as a way to benefit their families rather than to amass wealth.
• Duffy also advices that financial providers offer detailed explanations and expect their female clients to take more time making significant financial decisions.
• DeBare suggests that women fear taking on debt and some have debt issues to resolve before they can invest or redirect their business’s profits.
• A report released by Barclays Bank and the Economist Intelligence Unit show that women divide their wealth consistently between spending on the present and saving for the future.

It’s important to be aware of this growing clientele, especially the way in which they communicate and perceive money. So if the female entrepreneur is not yet part of your target market, you need to add her! And soon.

References

“Barclays Wealth Insights a Question of Gender”
“The Female Voice in Corporate America” by Georgette Pascale as published on womenandbiz.com
“Tips for Working with Female Clients” by Maureen Nevin Duffy
“Up, up, and away: African American women business owners on the rise, continue to soar to the top of the BE 100s - Facts & Figures”
“Women Do ‘Think Small’ in Business” by Illana DeBare

Get the right tools for the job

When setting up an accounting or bookkeeping service, one of your first concerns is having the right equipment and office configuration. Here are some tips to help you quickly get started on the right track. One of the benefits of a home-based accounting business is that the start-up costs can be relatively low.

What do I need for my office?

Your first rule of success for any home-based business is to stake out your territory . You need to locate a place in your home that is away from the main traffic path of the home, and has as much solitude as you can find. If nothing else, find a corner of a room as far from the door as practical. Or, if circumstances allow, it is best to use a separate room.

Stay away from the kitchen table. That�s the worst place in the home. The kitchen is, for most families, the busiest room in the house. Beside all the distractions, you are constantly having to interrupt your work and set your papers aside for a meal. Then, when you want to get back into it, you will need to make sure all the milk, ketchup, and whatever else has been thoroughly cleaned, or you might be doing work over again.

You will need something to work on. A folding table works well for some. Others want the prestige of having a beautiful cherry wood, executive desk. Since most clients will never see your working environment, the choice is simply one of your personal preference, and how much you want to spend on your surroundings. If money is an issue, pick up a six-foot folding table at your local discount store. If you like the smooth feel and attractive look of a big solid wood desk, keep in mind it won�t make a difference in how many clients you get, but it might make a difference in your pocket book.

Business Cards and Letterhead are important to all business professionals. To many, your business card might be the only thing with which they have to judge you. For that reason, it�s a good idea to spend a little bit more and get something that favorably represents you . On the other hand, the costly, foiled, raised print might be all right for the lawyer and real estate agent, but it isn�t necessary for the accountant. Something in the middle will be suitable.

Today, you can purchase business cards from the corner copy store, or from professional print shops. Or, if you have the right equipment you could even make them with a computer and printer.

At the copy store, you can view books of card samples. Most cards start at $15 for five hundred cards, and go up. Again the cheapest isn�t necessarily the best. Pick out the best sample that fits you. The printer will then help you place your information into the format of the card.

If you want to be more creative, a print shop will help you design the card. They also have samples.

One more thing: Don�t clutter your cards with too much information or gimmicky graphics. Put the most critical items on the face of the card. If you feel there is still more you would like to say on the card, then have it printed on the backside.

Letterhead and envelopes should be attractive and professional. Use a high-quality bond paper, not standard weight copy paper. Again, a few extra dollars can usually go a long way in impressing your clients.

If money isn�t an issue, and you don�t mind spending a few extra hundred dollars for just the right image, you can contract a graphics artist to design a unique card and letterhead just for you. Most people don�t take this step, nor do they need to.

What kind of computer software do I need?

If you have already purchased a computer you have made the largest investment already. The second largest investment could be the software, so here�s some information you need to know about accounting software.

First of all, accounting programs are divided into three general categories:

1. Trial Balance Systems
2. Complete Data Entry Systems
3. Write Up Systems

Software in the first category, Trial Balance Systems, is used primarily by auditors to prepare adjusted, fully disclosed, financial statements. That�s a step you won�t need to worry about unless you are a CPA performing an independent audit on a large company. So, no further discussion is warranted.

The Complete Data Entry Systems are the most commonly used software programs by small businesses. These are the software programs you can find on the shelves of software stores. Their intention is to provide all accounting functions inside the business. They are typically designed to write checks, prepare invoices, reconcile bank statements, etc…. Because these are most often designed for the non-accountant, they require rigid steps and are intended to be used inside the business, or �in-house.� They don�t lend themselves well to freelance, after-the-fact work that you will be performing for small businesses.

That brings us to the third type of software called “write-up systems“. These software names are not as commonly known, unless you are an accountant for multiple companies. Write-up software programs are designed for use by accountants. They provide for versatility and flexibility, which are both key components to an efficient accounting business.

Universal Accounting Systems has surveyed many of the write-up systems available today. We ranked them on features, cost, ease of use, ability to learn, adaptability, speed of entry, and versatility.

If you have yet to purchase a computer then you will want to know this. For most write-up packages you don�t need to have the latest and the greatest. In fact, you can purchase a used computer, for a fraction of the cost of a new one, that will probably work very well.

We have found, for most start up businesses on a budget, that although QuickBooks was written as a complete data entry system, it has great flexibility and, with a little understanding, can be adjusted quite easily to be used effectively for write-up work.

A printer is an important part of your computer. If you have an old dot-matrix printer that works well, don�t toss it. It will work fine, as long as you keep a new ribbon handy for the reports that will be seen by the client.

Probably the best value for the money today is a printer that sprays the ink on the page. There are several different manufacturers for these and they will run usually between $100-$200.

If you want the best, and money isn�t a big concern, you may want to consider a laser printer. For the higher cost, you will get a more permanent image (the ink could run on the spray type printer), at a higher speed. They also provide a slightly more pristine image. If you prefer the laser printer, it�s probably a good idea to look at the mid-priced models. You will most likely regret the purchase if you buy one because it was the cheapest brand.

Whether you have a computer or not, you ought to have a working electric typewriter, but nothing fancy. If you don�t have one right now, don�t despair. This Saturday, go to a garage sale or two, and you will surely find one for very little money. Make sure it works before you hand over the cash.

Why do you need a typewriter if you have a computer? Occasionally, you might be asked to fill out a pre-printed form. Have you ever tried to fill out a form with a computer printer? It�s not that easy — so a typewriter will save you time.

We recommend you apply for a business telephone line. In most states it�s no longer required that you have a separate business line, but it is still advisable. There are two good reasons for a separate business number:

1. Your company�s name will be placed in the yellow pages.
   This will provide you with credibility, and enable your clients to find you if they need to. By the way, this does not mean you should buy an ad in the yellow pages — that would be a waste of money. You�ll read more about advertising in another article.
2. You�ll preserve your personal life.
   A separate number will allow you to screen your calls. For example, if you are just sitting down for dinner and the business line rings, let it transfer to the answering machine. On the other hand, if it is during business hours, and you are performing work for a client and a private call comes in, let the answering machine take the message. Also, if you have children at home, it�s a good idea to instruct them not to pick up the business line. You want to appear professional, and most businesses don�t have children answering their phones.

A fax machine can be very helpful to communicate with clients, as well as getting information to and from prospective clients. Just an inexpensive model will probably handle your needs. They can also often be used in a pinch as a copier.

As for copy machines, you can probably do without this for now. Most of us have a copy store within a mile of our home, where we can get these services when we need them. When you consider the cost of purchasing and maintaining these machines, the copy stores become a bargain.

For more information on creating your own accounting and bookkeeping service take a look at our home-study course.

Preparing for Employee Absences during Summer

A few weeks ago we ran an article extolling vacations for small business owners. You need one to relax, regroup, and avoid burnout. The same applies to your employees; and if they haven’t already taken one, many are probably planning their vacations right now.

This can be stressful if you don’t prepare for employee absences beforehand. The good news is, if you take some of following precautions you’ll strengthen your business and improve staff morale.

Schedule vacation time

First thing’s first. You have to get out the calendar and schedule employee vacations. Some of you may have been hoping that no one would want to leave, but ignoring the potential absences won’t help you prepare for them. See if you can encourage employees to take vacations at different times. And if they haven’t yet decided when they’ll be gone, ask them to decide quickly so that you can put it on the calendar and begin making preparations.

Create instructional documents

Often the most difficult thing about employee absences is that some staff members are the only ones responsible for certain tasks and processes. When this is the case, just one person’s absence can make it difficult for the business to function seamlessly. To safeguard against this, have all your employees create instructional documents that explain, step by step, how they accomplish each of their responsibilities. Ask them to include the contact information of vendors or other professionals involved in the process. These documents will help tremendously when employees are vacationing, sick, or out on emergency. They will also be a great reference when cross-training current employees or training new employees.

Cross-train your employees

This is another way all employees can be prepared to function in another’s absence. Take the time to cross-train your employees so that they can all become familiar with crucial duties and responsibilities. This will not only prepare for employee absences, but strengthen your staff.

Take the time to motivate staff

Summer can be slow and sluggish. This is a good time to motivate your staff in creative and interesting ways. Consider sponsoring an office party, dress-down Fridays, or a non-threatening office competition. This can lighten the mood and encourage teamwork. Come back next week when we’ll discuss more ways to motivate and inspire your staff.

Ensure that employees don’t become overburdened in another’s absence

As an employee takes responsibility for an absent coworker’s tasks you need to watch and ensure they don’t become overburdened. Practice good communication and let the employee know they should inform you when they feel begin to feel overwhelmed. This not only prevents poor performance, but it can build morale as you employees sense your genuine concern for their wellbeing.

Bring in temporary employees

When you run a small business, loosing one employee for a short period could equate to loosing half or all your staff for a significant amount of work time. Evaluate your situation to see if you need to bring in temporary help to fill the gaps while employees are gone.

Reward employees for their work

As you require more from your staff you should reward their efforts in order to encourage the improved work environment. Employees who feel recognized for their efforts also feel loyalty for their employer and increased morale.

Preparing for the summer season can help you maintain productivity during employee absences and increase the efficiency of your business overall. It can also remind your employees how much you appreciate the work they do and the contribution they make to your business. So encourage your employees to take a vacation; it just may strengthen your accounting practice in the end.

Another Time and Money-Saving Technique

If you run an office with a small (or large) support staff, you appreciate the value of good employee training. New employees may frequently ask questions, interrupting you or experienced coworkers, or worse yet they may waste time trying to figure out how to complete crucial tasks on their own. A clear and thorough employee handbook would prove helpful in such situations. Not only that, but it can inform employees of important company policies and procedures. It could also be a great starting point when training new employees. And while it may require some time and attention initially, creating an employee handbook can save you a lot of money in the end.

If done improperly, your handbook can do more harm than good, causing employee confusion and frustration. But never fear, if you follow a few simple steps you can write a handbook that will help employees solve their own problems and be aware of your expectations. In order for your handbook to be successful you must consider the following:

Mission Statement
You may want to include your mission statement as a reminder of your overall purpose. This often helps employees better understand your goals and the approach you take to accomplish them.

Company Policies
You should include policies and procedures of which you want all your employees to be aware, including work hours, dress codes, safety procedures, vacation time, sick days, paid holidays, and other benefits. You should also include terms of misconduct, probationary policies, and other performance issues. It’s also good to include information about email, computer, and phone usage and non-discrimination policies.

Clarity
If your handbook is convoluted and difficult to follow, it will do more harm than good. Once you write a draft you may consider hiring a writer or editor to ensure the handbook is clear and concise with good document formatting that enhances understanding rather than prevents it.

Conformity
In order for your handbook to be effective you must ensure office-wide conformity, and that includes you. If you claim to perform certain tasks yourself, say annual reviews, you must be sure you actually do them! Or if you promise certain business functions, say retirement or insurance benefits, you need to follow through. Also important to remember is that when an employee doesn’t abide by a particular policy, you must enforce any stated consequences. Otherwise your handbook would prove more useful as scrap paper.

Instructions for Common Tasks
If your employees share certain responsibilities, it may be useful to include instructions on performing common tasks. Restocking the office supplies, interacting with difficult clients, or running mail to the post office could all be explained in a simple appendix.

A Note on Legality
An employee handbook is admissible in a court of law so you may want to include a disclaimer that would protect you from any litigation. The most common disclaimer states that the handbook is informational rather than contractual and any employee could be fired at the discretion of the employer.

While writing an employee handbook may require an initial investment of your time, it could pay off in the end, especially if you find yourself answering countless questions that could be addressed in that one place. Provide each employee with a handbook as you orient them to their new job and you may find that your job suddenly becomes much easier.

Slumps and Slowdowns in Local Economies Bode Well for Accountants

You’ve started to hear signs of it on the news. Markets around the world are moving up and down with every wave of concern and rumor, and there you are, the local accountant left to wondering how this is going to affect how you do business? It is true, that we have experienced in America unprecedented growth for an amazing amount of time of our national and local economies. Even with the last dot bust around 2000 hit, we didn’t see much of a hinderance in the way we are doing business every day. Is what’s on the horizon going to change that for our practices?

Accounting: A Sure Profession
There are only a handful of things that can withstand the tests of roller coaster economies. Besides becoming a mortician or an IRS agent, accounting is right up there in the top five. Why is that? Why is the accounting profession so secure? Where there is business being transacted, and a government to levy taxes, there will always be a need for the accountant. It is the duty of the Professional Accountant and Bookkeeper to adjust how they do business to accomodate what is happening in their own area and to their own clientele, but there will always be a need to keep the books for a business.

When the Going Gets Rough
There are always going to be those times when everyone is prospering and those other times when there are struggles in most companies. It’s our job as our client company’s resource for financial “healthcare” to keep those valleys not so low and the duration (and pain) experienced not so long. We are in the right place to be able to affect for the benefit of each business we come in contact with by the training, knowledge and practical know-how received at Universal Accounting.

What is Recession-proof? A Successful Accounting Service
Every business, regardless of what it sells, is in the business to make money. As a Professional Bookkeeper your opportunity is to help them keep their money as safe and as much of it as possible. Who would not want your accounting expertise around, especially in those times of economic downturns? Get your business into their business! Learn how you can market your business to those that are searching for your services.

UAC’s Art & Science of Getting Clients Video
As we mentioned, UAC has developed this training program for the maximum effectiveness in marketing your practice to those you want to do business with. Click Here now to get started on the path of marketing success and order your copy of the video!

You tired of waiting for that day when you are going to make that difference happen in your career? Click here to get better acquainted with the Professional Bookkeeper’s Program at Universal! Isn’t today a great day to find out more?

6 Tips on Making the Most of Slow Summer Months

The summer months can mean lighter workloads for many accountants. But that doesn’t have to be a bad thing. Think back on those busy times where you wished you had a spare moment to do something with all those post-its or to put the business cards you’ve collected into the rolodex. Now is the time to prepare yourself to be more efficient in the upcoming months, to collect and organize yourself and your staff. It will make you happier and more productive.

Here are just 6 things you can do with the extra time:

Connect with peers

It’s always good to talk with other accountants and financial professionals. While your practice is unique, you share many problems and concerns (along with a good solution or two). You can learn a lot from your peers; it also helps to release some stress by participating in the camaraderie only those of the same occupation can enjoy. Consider going to a professional conference where you can widen your professional circle and gain valuable information at the same.

Connect with clients

If you’re like most accountants, you have regular clients and peek-a-boo clients. This can be a good time to reconnect with all the clients on your roster. Consider sending everyone a friendly email with small business tips. Or perhaps you could call one or two to see how things are progressing. In doing so you may remind those peek-a-boo clients just how valuable your services are.

Organize your office

And by organize we don’t mean do a superficial desk-clearing. Give your office a make-over. Optimize your space and move your furniture in a more work-friendly arrangement; put your filing cabinet by your desk if it saves you the time of walking across the office countless times in a day. Be sure visiting clients have a comfortable place to sit. If you don’t already have one, create a filing system. To help you be more efficient, add shelving units or a white board. And by all means, file all necessary paperwork and throw the unnecessary away!

Evaluate office procedures and processes

Every business has procedures and processes that could be improved in order to increase productivity. Review each process, and trace it through the system, questioning each task. Is there a way the process could be standardized or streamlined? Generally you’ll find a way to reduce the number of steps required to complete the process. From collecting client-information to processing payroll-take the time to evaluate each procedure you run in your office.

Train office staff and perform personal evaluations

Some small businesses don’t enjoy the luxury of having staff, but if you do, now is the time to provide some training and perform personal evaluations. The training doesn’t have to be extensive or expensive. Consider cross-training your staff members so they know how to do one another’s jobs in the event that someone is absent for an extended amount of time. You could also train employees on different software packages you have or invite a specialist to come for staff meeting to train on organization or customer service skills. The Internet has countless webinars that can also be used.

Performing yearly evaluations on employees is a good practice. Schedule a meeting with each employee and run through their job description. Ask how they feel they’ve improved this past year. Together rate this employee’s performance, being sure to set goals for improvement.

For information on how Universal Accounting can help train and certify your staff go to: http://www.universal-accounting-center.com/accounting-tax-staff-training.htm

Research new software and purchase new software

The right software can save your practice hundreds of dollars in time. But don’t blindly purchase whatever package sounds good on the label! First look at those processes and procedures that you evaluated. Is there software that can help you minimize the more laborious tasks that you do? Take the time to research the different software packages before purchasing the one that fits the bills.

Universal Accounting Center Provides QuickBooks Training

Nearly 80% of small businesses use Intuit’s QuickBooks software. While other programs may be useful, QuickBooks has definitely captured the small business market. As an accountant or bookkeeper you know that over 80% of accounting opportunities are with the small business. Statistics are in your favor; learning QuickBooks is good business.

Becoming a QuickBooks Specialist would provide you with numerous ways to bring in more business, increase your income, and make your job easier. If nearly 80% of small businesses use QuickBooks, where’s the income opportunity, you ask? You can offer QuickBooks set-up and consultation services for $65-$95 per hour. You’ll find companies who want to do their accounting tasks themselves, but need help in configuring QuickBooks to meet their needs. And once you’ve helped a company set up its initial QuickBooks system, who do you think they’ll turn to for help? You, of course! After all, you’ll have the training and expertise they’ll need whenever they run into a problem. Now answer that question: If nearly 80% of small businesses use QuickBooks, nearly all those small businesses could use your QuickBooks expertise.

You can compliment your QuickBooks services by offering QuickBooks support. Consider this, Intuit charges $75 an incident and $349-$600 per year for support. That’s too pricey for most small business owners; you could offer QuickBooks support for a more reasonable fee and draw in more clients in need of a little QuickBooks help.

And that’s not all you can do with QuickBooks. The biggest complaint we hear from accountants and bookkeepers is that the information provided by their clients is often difficult to sort out and in some cases, unusable. This is true whether the client is doing the books by hand or through QuickBooks. Your QuickBooks services will enable your clients to get going and keep going in the right direction. You’ll quickly find that the information they give you will be useable, making your job easier.

Universal Accounting Center’s self-paced program enables you to complete the parts that interest you and skip over the parts that don’t. Even if you have used the software for years, this program teaches you shortcuts and methods you may not have known. You will be impressed by the simple flow and completeness of UAC’s Guide to QuickBooks Pro. For a small price you can purchase the QuickBooks software and our Professional Bookkeeper’s Guide to QuickBooks, enabling you to become a QuickBooks Specialist. Now’s the perfect time to take advantage of these slow, sluggish months and prepare to make even more money come fall. Take advantage of this great deal! Order now.

Earn Tax Preparation Credentials and Expand Your Business

With just a little training you could expand your business and your bottom line. Tax preparation will complement your current services nicely. Most of your current clients would appreciate having you prepare their taxes as well as manage their accounting. And becoming a full-service financial provider will attract more new clients.

Unfortunately, not all tax preparers are created equal. And currently no licensing is required to become a paid tax preparer. Uncle Jo who was good at math can prepare all his nieces and nephews taxes without recourse. Along with Uncle Jo there are fraudulent “tax preparers” who promise higher returns by committing tax fraud; they then skip town and leave their clients to deal with IRS audits. Also in the mix are hard-working, legitimate tax preparers who run their own businesses.

While Congress considers passing legislation that will require all tax preparers to become licensed, tax payers become wearier of tax preparers without any credentials. In fact, the IRS warns, “While most preparers provide excellent service to their clients, the IRS urges taxpayers to be very careful when choosing a tax preparer. Taxpayers should be as careful as they would be in choosing a doctor or a lawyer. It is important to know that even if someone else prepares a tax return, the taxpayer is ultimately responsible for all the information on the tax return.”

So how do you put clients and potentials clients at ease? By earning a professional designation that demonstrates tax preparation proficiency and competency.

The Professional Tax Preparer Designation

Universal Accounting is the only organization authorized to award Professional Tax Preparer certification. This is an exclusive designation which shows that you are proficient in personal and small-business tax preparation. Whether you prepare taxes in your spare time or run a tax preparation business full-time, you need to create confidence in potential clients. The PTP certification gives your clients the confidence that you have mastered hands-on tax preparation with emphasis on small business tax returns.

Becoming a Professional Tax Preparer (PTP) is essential for those involved in the practical application of federal tax laws for individuals and businesses. Upon passing the exam with a score of 90% or higher, you are awarded the PTP designation and a certificate which you can display in your office; you will also be able to add PTP to your business cards and phone listings, ensuring potential clients that you have been properly trained in tax preparation.

The Professional Tax Preparer Designation will not only inspire confidence in clients, but it will give you peace of mind, knowing that you have been fully trained in personal and small business tax preparation.

To learn more about the Certifications and services that Universal offers, order our DVD 4-pack. You’ll learn invaluable secrets about building your business into what you’ve always dreamed all for less money than you might spend treating your friends to lunch. Treat yourself today!

Introduction to the Professional Bookkeeper Program

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

“YES” Sample Marketing CD

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

Start Today and Have Your Own Bookkeeping Service

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

The Art and Science of Getting Clients

Learn how to get more clients by using our proven methods.

Order now!

Make $30 to $60 per hour… and you don’t need a college degree.

Become a Professional and Get Paid What Your Worth!

You can bill $30 to $60 per hour or more as a professional freelance bookkeeper. I say this because there are thousands of people, just like you and me, who are doing it right now. Highly respected professionals, without a college or university education, are providing a specialized and technical service to their clients. And you can do it too.

Over 500,000 new businesses start every year. Each and every one of them is required by law to do accounting. This presents a tremendous opportunity for anyone willing to learn the skills to be a professional small business bookkeeper. You don’t need a college education to provide this valuable service to small businesses. You do need a specialized education and skill set.

Over the next five weeks I’d like to give you an overview of the exciting and rewarding business of professional bookkeeping and accounting. If you are in search of a recession-proof business that will help you create the lifestyle that you and your family deserve and make it possible to get paid what your worth. It won’t take very long before I think you’ll agree, this is the business and now is the time.

Okay… what can I expect over the next five weeks?

• Week #1. The Proper Small Business Bookkeeping Education. We’ll discuss what you should be looking for in a bookkeeping and accounting education. We’ll outline some of the different types of education that is available and the pros & cons of each.With an overview of what’s available and the kind of education that you’ll need to succeed in your bookkeeping business, you’ll be prepared to make the next move and arm yourself with the education that best suits your goals.
• Week #2 How to Market Your Bookkeeping Business. (Part 1) Allen Bostrom, President of Universal Accounting and author says, “Nothing happens until you make a sale.” We’ll talk about what it takes to make everything happen!If you’re like most of us, the idea of being a salesman might not be your favorite thing. Don’t be concerned, there are a number of easy-to-implement methods that will make the entire sales and marketing process something easy and systematic. Anyone can do this!

  In Week #2 we’ll talk about creating what I call the “Automatic Referral System”. In other words, referrals without begging.

• Week #3 How to Market Your Bookkeeping Business. (Part 2) We’ll continue our discussion of easy and “doable” marketing methods that extend beyond referrals. We’ll talk about Tag-Team marketing and networking just to mention a couple.
• Week #4 Universal Accounting: The Perfect Small Business Bookkeeping Education. We’ll discuss why Universal Accounting Center is the perfect place to obtain the most complete and comprehensive small business bookkeeping education found anywhere.
• Week #5 A Bookkeeping Practice and a Professional Tax Preparation Business are the Perfect Match for Maximum Profits. The advantages of combining a Tax Preparation Business with a Bookkeeping service are many. Our final discussion in this series will demonstrate how they might be the perfect combination for you and your future professional bookkeeping and accounting practice.

What can I expect from here?

Welcome aboard. I’m looking forward to showing you why I think a professional bookkeeping and accounting business is such a wonderful opportunity and for the chance to give you the information that you’ll need to determine if it’s a “right fit” for you.

Information on starting your own professional bookkeeping business is only a click or two away. Follow the link below and find out for yourself what an incredible business opportunity this really is.

I Want to Know More About Starting a Professional Bookkeeping Business

Make It Easy to Ask

It seems to be different today. When I was in High School, I liked dating the girls from other schools. I guess I thought they were more exotic or something. It was fun to be the boy from the other High School. I met a lot of really great people that way and had a very active social calendar.

Of course, it took a little extra work. I had to be introduced. I didn’t know it was called a referral network back then, but I used it very effectively to get dates from all over the city.

I have three sons over the age of 18. None of them have been interested in my “exotic date referral system.” They all date and have a lot of fun, but none of them get to spend time with the type of glamourous women I was able to date.

Sometimes, ya just gotta ask. But ya don’t need to beg. I think most of us understand the value of a referral from a happy customer, friend or even a member of the family… but that doesn’t make it any easier to ask.

Making Referrals an Ongoing Marketing Strategy Will Make it Easier

Just saying that doesn’t make it true. But if you change your attitude about referrals it makes it easier to ask. Steven Canale, a speaker, trainer and author says, “…business referrals are the life-blood of those who are considered truly successful in their chosen profession.”

Jeffery Moses, marketer and author says, “Whenever you have a sales discussion with a new or prospective customer, ask for referrals. This is the standard in business, so don’t be hesitant to do so.”

Your customers expect you to ask, so don’t be shy. The first step to making referrals an ongoing marketing strategy is simple… just ask.

How Do I Ask Without Making it Sound Pushy?

That’s a good question. Start using these 5 inconspicuous things today to make asking for referrals a normal part of everyday. Not one of them makes you appear pushy.

1. Plant Seeds. The next time you begin a customer relationship with someone, make sure they know referrals are an important part of your business. If they found you through a referral, make sure they know that you prefer to work with referrals and that you’re happy to be working with them for that reason. Ask them about the person who referred them to you. “How is Steve, I haven’t seen him in a while?”On the other hand, if the client did not find you by a referral, point out your willingness to work with them as a special exception. “Normally I work with clients referred to me by someone that I personally know. However, I really think I can help you and am excited to work with you.”By letting all of your clients know that you prefer to work with referred clients you prepare them for the request in the future.
2. Look to the future. Sometimes, when you have a new client, it’s awkward to ask for a referral. However, if you ask them to provide a referral for you sometime in the future, you’ll find that resistance will be diminished. It might not exist at all. You may ask, “Mr. Smith, if we agree to work together now, and I can successfully handle this transaction to your satisfaction, would you be willing to recommend me to your friends in the future?”Most people will agree to this request. Of course, now you have to do a good job.
3. Remind and reinforce. Once you’ve prepared them by letting them know you prefer to work with referrals and you’ve done a great job for them, remind them that you would like to work with a referral or two from them.The conversation could go something like this, “Mr. Smith, I sure has been a pleasure to work with you. I hope we can work together again.”“By the way, do you know of anyone else who could use my services? I have the ability to help a few more clients and would like to work with others like you. After you give them my name or number, make sure they ask for me directly, so I know that you referred them.”

   You may want to give your client some business cards or some other promotional material to give to friends and business associates in your behalf.

4. Follow-up. Many businesses find that a periodic phone call asking for referrals is just the ticket. They already know that you prefer to do business with referrals and did a wonderful job for them and others they have referred to you. Sometimes all people need is a little reminder. (By the way, you should be referring your friends and business associates to them as well. Referrals are a two-way street.)
5. Reward the person who gave you the referral. Make sure you let them know the progress of their referral, or at least the successful completion of the transaction. You might also offer to take them to lunch or dinner to thank them for the trust and confidence they have shown in you and your business.

Referrals Without Begging… Does It Get Any Better Than That?

In the Professional Bookkeeper Program, you can learn how to ask for referrals and many other methods that bring clients into your professional bookkeeping and accounting practice. There’s never been a better time to be a professional bookkeeper than right now. And there’s not a better place to begin than with Universal Accounting. The Bureau of Labor Statistics forcasts that the need for skilled and qualified bookkeeping and accounting professionals will continue to grow for as far as they can see into the future. You’ll get the educational tools you need to learn the ins-and-outs of small business bookkeeping. You’ll also get all the marketing education you need to begin a successful and profitable practice. All you need to do is click on the link below and learn how to start your new business today.

A Great Deal On the Most Complete Small-Business Accounting Training Available Anywhere!

Having a solid understanding of the Accounting and Bookkeeping methods and procedures is a great first step in learning the concepts behind Financial Business Analysis. You will learn to do books for small to mid-sized companies and how to analyze the books to prepare reports. You will learn to interpret reports so that you can advise your clients how to reduce costs and to better understand their financial standing and profitability. Your clients will look to you as an invaluable source of information about the financial health of their organization.

You might be surprised to know that most small business owners don’t know as much about their business as they think they do. This provides a real opportunity for a qualified bookkeeper or acccountant because without a comprehensive understanding of the financial health of the business, the business owner is unable to make the informed decisions that are required to keep his business healthy and growing.

Successful business owners and department managers know what’s going on inside the business, but there are many businesses that don’t. Without a sense of the financial figures, their ability to make good decisons is cripled. Since many business owners don’t have a complete sense of the numbers, they either need to acquire that understanding or hire someone that they can trust to look at the numbers and interpret them in their behalf.

A Skilled Bookkeeper Can Provide This Expertise

Since you’re here, reading this newsletter, I think we can all agree that a qualified bookkeeper or accountant is the answer for many of these businesses. Of course, like anyone, the business owner may not be willing to admit that he doesn’t understand what all the numbers mean and what the implicaitons of the numbers are. (And it doesn’t serve anyone to point a finger and say, “You don’t know what your business is doing.” So we aren’t going to do that. )

However, as you meet with your clients and potential clients, it’s important that you have a complete understanding of their understanding. Allen Bostrom, in his book In the Black:Nine Principles to Make Your Business Profitable, offers a list of 13 questions that will enable both you and your client to understand (in a non-judgemental way) what’s going on inside the business. I’ve attached a Microsoft Word document that you can download and go over with your clients and prospective clients.

Click here to download the list.

The questions on this list are not meant to be all-inclusive, but will give you a baseline to start from. As you go over the questions on the list, it should become apparent that this information is important enough to hire a professional to help collect and interpret the information on a monthly basis. Feel free to use this document as you meet with your clients or as a thumbnail of the figures that you will need to put together for your clients each month.

For Your Clients to be Profitable, the Numbers Need to be the Right Numbers, Done the Right Way at the Right Time

As you do the bookkeeping and accounting each month you’ll have access to all the information that will help your customers make the kind of intelligent and informed decisions that make a business profitable.

It’s important that your clients communicate the results of this anyalyses to all of their employees to make sure that everyone in the business knows where it’s going and how well it’s progressing. When employees know what is being measured, it seems to improve.

The Tools to Make the Proper Financial Analyses are at Universal Accounting

Having a solid understanding of the Accounting and Bookkeeping methods and procedures is a great first step in learning the concepts behind Financial Business Analysis. You will learn to do books for small to mid-sized companies and how to analyze the books to prepare reports. You will learn to interpret reports so that you can advise your clients how to reduce costs and to better understand their financial standing and profitability. Your clients will look to you as an invaluable source of information about the financial health of their organization.