The Sales Force That Never Sleeps (Part Two of a Two-Part Series)

The Secrets of Effective Direct Mail

If you thought the ugly, misleading junk mail you receive is direct mail, you wouldn’t be alone. But what you’re seeing is the least effective style of direct mail. Not all direct mail is junk mail.

The most innovative and effective advertising being done today is via direct mail. Why? Because if you know how to do it and have a realistic strategy, it works. It really works. And there’s good news. You can do it without spending a lot of money.

How do we know that direct mail works? We know because it keeps coming. If it wasn’t effective, advertisers would stop using it.

Direct Mail Works Because it’s a Tested Medium

What does that mean? It means that the most successful practitioners of direct mail use formulas and strategies that work. Strategies that have proven themselves time after time.

Last week we talked about how effective the personal letter can be. Personal letters are a part of the direct mail arsenal. They should be a part of your marketing tool kit if you’re really interested in finding new clients and keeping in touch with your present clients. If you’d like to review what we’ve talked about before click HERE.

What Makes Direct Mail Work?

I have to admit, I’m a big fan of direct mail. Let’s look at 10 things that you must know in order to produce direct mail that works.

1. Visually… What Works and What Doesn’t? Walk out to the mailbox and take a look at what’s there. Every night when I come home, I ask my wife, “;Anything fun in the mail today?”; I love going through the catalogues and other direct mail. Why? That’s where I do my homework.Granted… there’s a lot of really bad junk mail in there, but there are some gems of genius too. If I see something that I really like, I save it, learn from it and try to incorporate the things I like about it into what I do.But the really bad stuff is fun too. Junk mail has a unique style. Learn to recognize it and make sure you understand how to make your direct mail look different.
   
   
2. Stay Away From Cheesy Tag Lines or Too Many Type Fonts- Bold with italics, ALL CAPS and multiple exclamation points!!!! look like junk mail. Don’t use them, no matter how tempting. Stay away from using every typeface in your word processor too. Pick a typeface that’s easy to read and stick with it. If it’s tough to read what you’re writing… nobody will.Copy writers and graphic designers have always disagreed on this, but it’s more important that your reader understand and respond to what you’re writing. The aesthetic beauty of the design and layout is secondary. Words sell. Everything else should be designed to promote reading the words. Keep the designs clean and simple.?.
3. Don’t Make Me Think… Too Much- Don’t use too much jargon. (The language of your profession.) Most of your potential clients won’t know what you’re talking about. It makes it harder to read. (see #2) If you make it hard to read, they won’t.Of course, you want them to know that you are a professional, that knows your profession, but whether you’re talking to bankers, attorneys or housewives, keep it simple. Make it easy to read and understand.Break up your sentences in short, easy to read paragraphs. If your message looks daunting to read… they won’t. Most people skim, so make sure you’re message is understandable even if they don’t read every word. Indents, headlines and sub-headlines make it possible for the reader to pause and read more where it’s interesting. Underline or bold specific sentences or thoughts that are the “;must read”; parts of your message.

   ?.

4. Use Your Experience- If you know your model customer inside-and-out, use that knowledge. Your direct mail piece is nothing more than a written conversation with you. Talk to your clients and potential clients as you would if you were right there with them. Use a personal tone. Don’t sound corporate. It’s harder to say no to John Smith than it is to Acme Widget Corporation.?.
5. Being Cliche is… So Cliche! Be honest. How would you respond to, “;This Amazing Offer is Too Good to Be True!!!!”; Yep, it probably is amazing, but if it sounds “;too salesy”;, nobody’s going to believe it. Tell the truth about your service and your potential clients will appreciate it. Not only that, but for example, if your offering a special price on payroll services, tell them why. “;I’m offering this special price on my payroll services for new clients because I want to expand that part of my business.”;My mom always said, “;Honesty is the best policy.”; Even in advertising it’s true. It’s the only way to keep clients once you find them.?.
6. Ya Gotta Ask- As a younger guy I was a salesman for an industrial company. I spent a lot of my time with corporate purchasing agents. One day I received an especially big order from a buyer that my major competitor and I had been working on for a long time. As he gave me the order he said, “;Do you want to know why I gave you the order?”;”;Absolutely.”; I said.”;Because you asked for it. The other guy never asked for it. He told me all about how wonderful his company was, what a great job they would do. But he never asked for the order.”; He said, “;That’s why I gave it to you. You asked for it.”;

   It may be at the bottom of the advertisement, it might be at the top… but you have to ask for the order. You may have the best bookkeeping/accounting service in the world, but if you don’t say, “;I’d sure like to be your bookkeeper. When can I start.”; You will more than likely never be his or her bookkeeper.

   ?.

7. Postcards, letters or flyers? Postcards are great direct mail because they eliminate the barrier of the envelope. But I’m a big fan of a letter or letter package for most high-end products or services. That’s why bankers, lawyers, doctors and other professionals usually don’t advertise with postcards, because there isn’t enough room to tell their whole story.What’s the difference between a letter and a letter package? A letter package could include an additional brochure, a coupon or a response card. They’re a little more expensive, maybe a few cents more per package, to send out, but they are often worth the extra cost.However, if you ask a direct mail expert, he’ll tell you the most important part of the package is the letter. If you have to dump anything in the package… dump everything else before you get rid of the letter. The letter is your salesman.

   ?.

8. Use Color… But Use it Wisely- Color will often attract more attention, if you don’t use too much. Just because you can doesn’t mean you should. Color is more expensive and if it doesn’t add to the effectiveness of your message, it’s a waste of money. Many very successful direct marketers don’t use color. If they do use color, they only use one or two colors.If you are going to use colors, remember that bright colors speak loudest and dull colors speak more subtly. Think about what you’re offering, the image of your practice that you want to represent and consider the audience you are mailing to. Use colors, but use them wisely.?.
9. Get Personal- Look again at #4. (Use Your Experience) Business is personal. I realized years ago as a salesman, that my products weren’t as important as the relationship I created with my clients and customers. There were always substitutes for my products, but my success or failure depended on whether or not I was able to build a relationship of trust and confidence. Your clients will call you because they trust you. Not “;Amalgamated Bookkeepers.”;It doesn’t matter what industry you’re in, business is done person to person. Forget that, and you’ll be just another face in the crowd.
   
   
10. What’s the Best Way to Mail It? Although it might be tempting to bulk mail everything, don’t. Although bulk mail works fine for some products… catalogues, postcards, etc. A personal letter or letter package has a better chance of getting opened if it’s mailed first class.Why? Because statistically that’s what works. First class is hands-down opened more than bulk mail. Hand addressed letters are opened more than labeled letters and hand signed letters, (in blue ink) are read more than signature stamped letters.

The Professional Bookkeeper Program Teaches Tested Direct Mail that Works

Module 4 of the Professional Bookkeeper Program has tested and successful sample direct mail sales letters that you will use to find and keep clients. Letters that have proven themselves time after time. Marketing that will help you find new clients who will gladly pay you for your professional services.

At Universal Accounting, our commitment to your success doesn’t end with teaching you bookkeeping and accounting. Any education that doesn’t give you all the tools to create the professional and personal lifestyle you want isn’t enough to help you build a successful and profitable bookkeeping business.

We’ve been teaching people like you and me how to start a small business bookkeeping and accounting practice for over 25 years, since 1979. We’re the small business accounting experts. And we’ll be there with support and advice for 6 months after you complete the course to help get you on your feet and on the way to your very profitable business.

Remember #6?

I don’t know of another bookkeeping or accounting course that is as complete or offers as much support as the Professional Bookkeeper Program from Universal Accounting. Starting a professional bookkeeping and accounting business will provide you with a better income, create a wonderful lifestyle for you and your family and give you the personal and professional satisfaction that you’re looking for. You won’t regret it. Enroll today!

How to See Failure as Opportunity and Turn Hardship into Success

Every failure, obstacle or hardship is an opportunity in disguise. Success in many cases is failure turned inside out. The greatest pollution problem we face today is negativity. Eliminate the negative attitude and believe you can do anything. Replace ‘if I can, I hope, maybe’ with ‘I can, I will, I must.’ —Mary Kay Ash

To begin to think with purpose, is to enter the ranks of those strong ones who only recognize failure as one of the pathways to attainment. -James Allen

It is lemonade season-the time of year when thousands of kids take lemons, turn them into lemonade, and sell them on street corners for profit. We could learn a thing or two from these budding entrepreneurs.

So what do you do when life hands you a basket of lemons? When failure makes an appearance in your business? You turn it into lemonade, or see it as a stepping stone to success. Here are 5 steps that will show you how.

1. Redefine it

You’ve got to redefine failure. It shouldn’t be seen as a bad omen, but an opportunity to learn and grow. And do you really think you can become insanely successful without learning more than you know right this instant? The best learning experiences often come in the form of failures and mistakes. Don’t fear them; embrace them. While some view failure as an obstacle, it is often the stepping stone that will take you higher and farther, enabling you to achieve true success.

2. Analyze it

You can’t learn from a mistake or failure without taking the time to dissect it and determine what, exactly, went wrong. Some would rather walk away from the failure and never look back, but that would be the worst mistake you could make. In looking closely at what happened you will learn how to improve, repair, change, and excel. But don’t overanalyze. Once you’ve learned what you need to learn, move to the next step! Otherwise you become subject to that age-old deterrent: paralysis by analysis.

3. Apply lessons learned

Once you’ve discovered what caused, prompted, or encouraged the failure, apply the lessons you’ve learned so it won’t happen again. Often we engage in destructive actions again and again because it’s all we know. Unfortunately, that will not help you achieve success. Success requires you to continually evaluate your actions and determine how they can be improved. This is what you must do with failure. Once you realize why something didn’t work, you can change your behavior, and in turn, change the outcome.

4. Move on

” . . . our doubts are traitors; And make us lose the good we oft might win; By fearing to attempt.” —William Shakespeare

You’ve learned, you’ve applied, now move on. Do not let fear of failure paralyze you. Katherine Mansfield once wrote, “Risk! Risk anything! Care no more for the opinion of others, for those voices. Do the hardest thing on earth for you. Act for yourself.” Do not be afraid to move into the unknown in order to move forward. You wouldn’t tell your child to put her two-wheeler away simply because she fell and skinned her knee. You would encourage her to get back on that bike as soon as possible and continue to ride. Take your own advice: continue to ride!

5. Expect greatness

Just because you experienced failure doesn’t mean you should expect it to continually litter your journey. Be positive and expect great things to happen. When you do, not only will great things happen but you’ll be in the right mindset to take future failure and see it for what it really is: opportunity in work clothes.

References
“Turn a Failure into a Success,” by Rhonda Abrams

The Sales Force That Never Sleeps (Part Two of a Two-Part Series)

The Secrets of Effective Direct Mail

If you thought the ugly, misleading junk mail you receive is direct mail, you wouldn’t be alone. But what you’re seeing is the least effective style of direct mail. Not all direct mail is junk mail.

The most innovative and effective advertising being done today is via direct mail. Why? Because if you know how to do it and have a realistic strategy, it works. It really works. And there’s good news. You can do it without spending a lot of money.

How do we know that direct mail works? We know because it keeps coming. If it wasn’t effective, advertisers would stop using it.

Direct Mail Works Because it’s a Tested Medium

What does that mean? It means that the most successful practitioners of direct mail use formulas and strategies that work. Strategies that have proven themselves time after time.

Last week we talked about how effective the personal letter can be. Personal letters are a part of the direct mail arsenal. They should be a part of your marketing tool kit if you’re really interested in finding new clients and keeping in touch with your present clients. If you’d like to review what we’ve talked about before click HERE.

What Makes Direct Mail Work?

I have to admit, I’m a big fan of direct mail. Let’s look at 10 things that you must know in order to produce direct mail that works.

1. Visually… What Works and What Doesn’t? Walk out to the mailbox and take a look at what’s there. Every night when I come home, I ask my wife, “Anything fun in the mail today?” I love going through the catalogues and other direct mail. Why? That’s where I do my homework.Granted… there’s a lot of really bad junk mail in there, but there are some gems of genius too. If I see something that I really like, I save it, learn from it and try to incorporate the things I like about it into what I do.But the really bad stuff is fun too. Junk mail has a unique style. Learn to recognize it and make sure you understand how to make your direct mail look different.
   
   
2. Stay Away From Cheesy Tag Lines or Too Many Type Fonts- Bold with italics, ALL CAPS and multiple exclamation points!!!! look like junk mail. Don’t use them, no matter how tempting. Stay away from using every typeface in your word processor too. Pick a typeface that’s easy to read and stick with it. If it’s tough to read what you’re writing… nobody will.Copy writers and graphic designers have always disagreed on this, but it’s more important that your reader understand and respond to what you’re writing. The aesthetic beauty of the design and layout is secondary. Words sell. Everything else should be designed to promote reading the words. Keep the designs clean and simple.
3. Don’t Make Me Think… Too Much- Don’t use too much jargon. (The language of your profession.) Most of your potential clients won’t know what you’re talking about. It makes it harder to read. (see #2) If you make it hard to read, they won’t.Of course, you want them to know that you are a professional, that knows your profession, but whether you’re talking to bankers, attorneys or housewives, keep it simple. Make it easy to read and understand.Break up your sentences in short, easy to read paragraphs. If your message looks daunting to read… they won’t. Most people skim, so make sure you’re message is understandable even if they don’t read every word. Indents, headlines and sub-headlines make it possible for the reader to pause and read more where it’s interesting. Underline or bold specific sentences or thoughts that are the “must read” parts of your message.
4. Use Your Experience- If you know your model customer inside-and-out, use that knowledge. Your direct mail piece is nothing more than a written conversation with you. Talk to your clients and potential clients as you would if you were right there with them. Use a personal tone. Don’t sound corporate. It’s harder to say no to John Smith than it is to Acme Widget Corporation.
5. Being Cliche is… So Cliche! Be honest. How would you respond to, “This Amazing Offer is Too Good to Be True!!!!” Yep, it probably is amazing, but if it sounds “too salesy”, nobody’s going to believe it. Tell the truth about your service and your potential clients will appreciate it. Not only that, but for example, if your offering a special price on payroll services, tell them why. “I’m offering this special price on my payroll services for new clients because I want to expand that part of my business.”My mom always said, “Honesty is the best policy.” Even in advertising it’s true. It’s the only way to keep clients once you find them.
6. Ya Gotta Ask- As a younger guy I was a salesman for an industrial company. I spent a lot of my time with corporate purchasing agents. One day I received an especially big order from a buyer that my major competitor and I had been working on for a long time. As he gave me the order he said, “Do you want to know why I gave you the order?”"Absolutely.” I said.”Because you asked for it. The other guy never asked for it. He told me all about how wonderful his company was, what a great job they would do. But he never asked for the order.” He said, “That’s why I gave it to you. You asked for it.”

   It may be at the bottom of the advertisement, it might be at the top… but you have to ask for the order. You may have the best bookkeeping/accounting service in the world, but if you don’t say, “I’d sure like to be your bookkeeper. When can I start.” You will more than likely never be his or her bookkeeper.

7. Postcards, letters or flyers? Postcards are great direct mail because they eliminate the barrier of the envelope. But I’m a big fan of a letter or letter package for most high-end products or services. That’s why bankers, lawyers, doctors and other professionals usually don’t advertise with postcards, because there isn’t enough room to tell their whole story.What’s the difference between a letter and a letter package? A letter package could include an additional brochure, a coupon or a response card. They’re a little more expensive, maybe a few cents more per package, to send out, but they are often worth the extra cost.However, if you ask a direct mail expert, he’ll tell you the most important part of the package is the letter. If you have to dump anything in the package… dump everything else before you get rid of the letter. The letter is your salesman.
8. Use Color… But Use it Wisely- Color will often attract more attention, if you don’t use too much. Just because you can doesn’t mean you should. Color is more expensive and if it doesn’t add to the effectiveness of your message, it’s a waste of money. Many very successful direct marketers don’t use color. If they do use color, they only use one or two colors.If you are going to use colors, remember that bright colors speak loudest and dull colors speak more subtly. Think about what you’re offering, the image of your practice that you want to represent and consider the audience you are mailing to. Use colors, but use them wisely.
9. Get Personal- Look again at #4. (Use Your Experience) Business is personal. I realized years ago as a salesman, that my products weren’t as important as the relationship I created with my clients and customers. There were always substitutes for my products, but my success or failure depended on whether or not I was able to build a relationship of trust and confidence. Your clients will call you because they trust you. Not “Amalgamated Bookkeepers.”It doesn’t matter what industry you’re in, business is done person to person. Forget that, and you’ll be just another face in the crowd.
   
   
10. What’s the Best Way to Mail It? Although it might be tempting to bulk mail everything, don’t. Although bulk mail works fine for some products… catalogues, postcards, etc. A personal letter or letter package has a better chance of getting opened if it’s mailed first class.Why? Because statistically that’s what works. First class is hands-down opened more than bulk mail. Hand addressed letters are opened more than labeled letters and hand signed letters, (in blue ink) are read more than signature stamped letters.

The Professional Bookkeeper Program Teaches Tested Direct Mail that Works

Module 4 of the Professional Bookkeeper Program has tested and successful sample direct mail sales letters that you will use to find and keep clients. Letters that have proven themselves time after time. Marketing that will help you find new clients who will gladly pay you for your professional services.

At Universal Accounting, our commitment to your success doesn’t end with teaching you bookkeeping and accounting. Any education that doesn’t give you all the tools to create the professional and personal lifestyle you want isn’t enough to help you build a successful and profitable bookkeeping business.

We’ve been teaching people like you and me how to start a small business bookkeeping and accounting practice for over 25 years, since 1979. We’re the small business accounting experts. And we’ll be there with support and advice for 6 months after you complete the course to help get you on your feet and on the way to your very profitable business.

Remember #6?

I don’t know of another bookkeeping or accounting course that is as complete or offers as much support as the Professional Bookkeeper Program from Universal Accounting. Starting a professional bookkeeping and accounting business will provide you with a better income, create a wonderful lifestyle for you and your family and give you the personal and professional satisfaction that you’re looking for. You won’t regret it. Enroll today!

Streamline Your Business:

Cutting Costs in Your Home Office

When you run a home business, you may think it impossible to cut costs. You’re already saving in rental payments by working from home, what more is there to cut? But there are more ways you can save money for your bottom line. Here are four ways to cut home office costs:

1. Shop around for the best (and cheapest) telephone and internet service.

If you’re already using a business package for your telephone service, you may want to see if a residential line might be cheaper. Because you’re working from home you can take advantage of more inexpensive phone plans. You might be able to save even more money in bundling your phone, cell, and internet services.

Also be sure to monitor your long distance calls and bill clients when appropriate. You could save a significant amount of money by calling long distance during off-peak times. And remember that rates change frequently; regularly shop around for the best plans.

2. Buy used office furniture.

Wholesale office suppliers often sell good furniture at a reduced price, so don’t go out and buy the first desk that you see. And businesses often upgrade their furniture, selling their used furniture through the classifieds or business sales. Shop around. Check out thrift stores or look for liquidations, auctions, or closeouts.

3. Purchase office supplies in bulk.

You can save a lot of money in buying your office supplies in bulk. You may not realize just how much you use, but the truth is you have your own business and whether or not you use those staples, post-its, or files this month, you’re going to use them eventually. Why not stock up and save? Run the numbers and you’ll generally find that buying in bulk will save you in the end. And many office supply stores offer memberships that can also save you money. Don’t be afraid to spread the word and tell people what you do; you may be surprised at the discounts you’ll get.

4. Cut mailing costs.

If you spend a lot of money on mailings, there are various ways you can cuts those costs. Consider purchasing a meter which enables you to print exact postage rather than using too much postage trying to be safe. When sending priority mail be sure to use the free boxes and envelopes the post office offers. Also consider purchasing a bulk permit which will save you money on bulk mailings. When possible use standard-size envelopes. And finally, check your mailing lists to eliminate duplicate or bad addresses.

The more aware you are of business costs, the better you can manage them. Take inventory of your expenses and brainstorm ways to cut back. You may be surprised at how a more creative approach to your costs may save you a lot of money.

Customer Service – The Most Basic Form of Marketing

Believe it or not, client, or to be more precise, client service, is the most effective and, in many cases, the easiest way to maintain your client base. Good, old-fashioned service commands their loyalty and pays your bills.

Let’s examine some surefire client service tips that are proven winners:

1.Before each client’s appointment, take the time to review his or her file to bring yourself up to speed. Without this fundamental homework you can make mistakes which can easily be avoided.

2. Ensure that you are on time for appointments. Punctuality always creates a good impression – especially a good first impression.

3. Manage the client’s bill – it’s not a time for surprises.

4. Ensure that there is no doubt concerning your fee structure. Up front is the time to sort this issue out not after the event.

5. Show your clients that you’re thinking of them. Sending copies of magazine or newspaper articles regarding their business is a good illustration of this concept.

6. If you are able to attract business with the “under promise and over deliver” strategy it’s one that’s sure to result in your clients referring their friends, family members and other contacts to you.

7. Consider the customer service techniques that other industries use. The airline industry is a good example. It offers frequent flyer programs and doesn’t hesitate to offer compensation when it recognizes that it is responsible for a mistake which has led to a passenger’s discomfort.

Client service is really a mindset that you need to acquire to maintain and increase your existing client base.

Preparing for a Successful Brainstorming Session

Last week we discussed the four main elements of a good brainstorming session. This week we’re going to look at how you can prepare for a productive session, ensuring that everyone involved is prepared to contribute in a healthy and creative way. In no time you’ll be able to apply the following brainstorming guidelines in order to cultivate new and profitable ideas:

Choose participants wisely

You want to invite individuals who will value your objectives and extend a genuine effort to participate. Consider those who are creative, thoughtful, and willing to offer all their ideas regardless of how ridiculous they may sound.

Prepare participants

Once you have invited participants you should ask them to come prepared. Share your objectives and ask them to brainstorm a little on their own so they come to the meeting with a few ideas. And when you invite your participants make sure you invite the right number. If you invite too many, not everyone will be able to participate; if you invite too few, you won’t be able to create the mind-meld necessary to generate fresh and innovative ideas.

Assign a recorder and determine a method of documentation

Before you start, assign someone to document all the ideas generated in your brainstorming session. Then determine a mode of documentation. If you use a whiteboard make sure someone records those ideas electronically so they can be saved and evaluated later. Or consider a large flip chart that can be carried from the meeting with you. Whatever you do, don’t trust your memory to preserve all the wild and crazy ideas your group produces.

Create objectives

Without an objective you’ll be brainstorming far from the beaten path. You need to have a problem you want to solve, a product you want to create, or a client you want to attract. Whatever it is, be sure you define your objectives clearly so that you can focus your brainstorming efforts on the task at hand.

Establish rules and abide by them

All brainstorming sessions should have rules. Consider using the four elements we discussed last week: focus on quantity instead of quality, don’t allow criticism, encourage far-fetched ideas, and improve ideas by combining them. Someone should also be responsible for directing and moderating the discussion.

Don’t get stuck

You want to encourage far-fetched ideas and crazy suggestions. But don’t be surprised if the group becomes intrigued by a strain of thought and pursues it for awhile. The group leader should be prepared to prevent participants from getting stuck in a brainstorming rut. Encourage the group to pursue other avenues in order to generate as many different ideas as possible.

Evaluate ideas later

And don’t be tempted to evaluate any of the ideas while brainstorming. Creating and evaluating are two different functions and shouldn’t be performed simultaneously. Brainstorming is your chance to create. Schedule a separate appointment to evaluate.

Brainstorming is great way to cultivate new and profitable ideas that can help improve your small business. But in order for brainstorming to be effective you must be willing to make the necessary preparations and abide by a few idea-friendly rules. Once you do that you’ll be ready for a fun and productive brainstorming session.

Tax Tips – A Simple Estate-Planning Tip

Many people have provided for their favorite charity in their wills. But not many people know about a simple technique that can accomplish their charitable giving goals–and pass more of their wealth on to their loved ones.

Here it is: Instead of making an outright bequest in a will for charity, the individual should name the charity as a beneficiary of their company retirement plan or IRA. When they die, the charity will still get the amount they want it to–but their heirs will get a lot more.

This strategy is brought to you by a little concept known as “IRD.” This stands for “income in respect of a decedent.” When someone with a retirement plan dies and the proceeds of the plan are paid out, the money flows into the individual’s estate as IRD income. This money is taxable to the estate–and it may also be taxed as income to the person who ultimately receives it. When all of the taxing authorities get finished with IRD income, they can take around 80 percent of it. The individual’s heirs may see only 20 cents of every dollar the plan pays out.

Example: Wilson has $300,000 in his 401(k) plan. In his will, he gives his retirement plan to his kids and he gives $100,000 to his favorite charity. Result: At death, the charity gets its $100,000 and the kids get their $300,000. But the kids also get this: a Form 1099-R. This form is sent to them by the retirement plan administrator because the $300,000 is taxable income to the kids.

In order for Wilson to leave more to his kids, all he has to do is eliminate the $100,000 to charity in his will. He also has to go to his employer to instruct it to send the first $100,000 from his 401(k) plan to charity when he dies.

New result: The charity still gets its $100,000. And the kids still get their $300,000–but $100,000 of it is a tax-free inheritance. They still get a 1099-R, but it’s for only $200,000 from the plan. The charity gets a 1099-R for the remaining $100,000 from the plan that it received. But the charity can rip it up because, as a tax-exempt organization, it pays no tax on this money.

This technique can also be used in conjunction with other assets that trigger heavily taxed IRD income. This includes savings bonds, unpaid bonuses, lottery winnings, unpaid rental income, and installment sales obligations.

Cultivating New Ideas (Part One of a Three-Part Series)

The Four Main Elements of Brainstorming

Successful businesses cultivate new and innovative ideas. From those ideas come ways to expand the business by offering new services, working more efficiently, and marketing more effectively. One way to cultivate new ideas is to brainstorm with a group of invested individuals.

In a book published in 1963 entitled Applied Imagination, advertising guru Alex Osborn talks about the four elements of effective brainstorming. Osborn himself coined the term “brainstorm,” but sadly over the years many of the key components of the process as he intended it have been lost. We’ll discuss them here.

1. Focus on quantity instead of quality
The purpose of brainstorming is to generate as many ideas as possible: the simple, the silly, the insane. All are welcome at a brainstorming session. The main objective is to generate a large quantity of ideas.

2. Allow no criticism
In order to generate lots of ideas you must avoid criticism, either self or group-imposed. Regardless of how outlandish, complicated, or impossible an idea may sound, it is welcome at a brainstorming session.

3. Welcome far-fetched ideas
You don’t come up with a winning idea without first promoting creativity and far-fetched thinking. From those impossible proposals come profitable innovation.

4. Encourage the group to improve ideas by combining them
Often the best ideas come in combining two or more ideas. Can you imagine which ideas may have been combined to create the Post-it or Tivo?

Come back next week when we’ll share tips that will enhance your brainstorming sessions.

Brainstorming can be especially helpful in creating marketing strategies. If you find yourself looking for help in the marketing department we have a program that has done all the brainstorming for you, providing a turn-key marketing solution for your accounting practice.

The Universal Practice Builder (UPB) Workshop

Designed to help accounting professionals grow their practices, the UPB workshop will help you generate $30,000 more in annual billings in just 12 months. You’ll also learn 12 marketing techniques that have been proven effective for other accountants like yourself. And you’ll be taught how to generate 15 to 25 leads per month. How many brainstorming sessions do you think it would take to do all that?

This 48-hour workshop is led by coaches who are both knowledgeable and engaging. In two-days you will have everything you need to grow your practice and become more profitable.

The Professional Bookkeeper (PB) Program

For a limited time, Universal Accounting Center is offering a special discount on this package deal: the Universal Practice Builder Workshop and the Professional Bookkeeper Program. Clients appreciate having an accountant they can trust, and you enhance your appeal when you have a professional designation that illustrates your expertise. Upon completing the PB Program not only will you have the opportunity to earn valued certification, but you will be trained in small business accounting, enabling you to widen your appeal by providing specialty services to a large niche market.

Universal Accounting Center has over 25 years experience training professionals like you. They draw from this lengthy teaching experience and also qualified experience practicing to bring you the best instruction possible. Countless others have benefited from this training and are successful, self-employed accountants and tax preparers. Take advantage of this special offer and change the face of your business! We have just a few innovative ideas you’ll want to take advantage of. Order now!

Increase Your Credibility and Get Paid Too

One of the better and more subtle methods you can use to enhance your image in the local community, and thus build your business, is to teach courses at the local community college. These courses are generally of 2 -3 hours duration on one day or can be spread over a number of weeks.

Expand Your Network to Find New Clients

In order to acquire new business you need to be out of your office, meeting people who are either prospective clients themselves or who are in a position where they can refer business to you. The classroom offers a great opportunity to meet people who will be impressed by your expertise and will either seek your help or mention you to their family members, relatives or friends who need assistance.

So What Can I Teach?

Your initial reaction may to say that there are no courses you could teach. This is definitely not the case! Courses spotlighting your expertise could include:

• Manual bookkeeping and accounting
• Computerised bookkeeping and accounting
• Strategies to Reduce Tax
• Personal Financial Management

It’s simply a matter of checking out what courses are offered at your local college and suggesting your suitability to conduct those particular courses or others you may feel are appropriate.

What Benefits Do You Get From Teaching?

The following benefits will accrue to you from conducting these courses:

• The perception both with the college administration and within the classroom that you are an expert on the subject.
• The opportunity to forward a press release to your local newspaper outlining your role in conducting the course – again enhancing your reputation.
• Inclusion in the college program with details of all the courses offered by the college. The program is generally distributed to previous course attendees and goes far and wide. Even people not attending the class are going to notice that you have an association with the college.
• Without doubt this experience will sharpen your public speaking and presentation skills and will lead to other roles which will see you speaking in front of an audience.

This is not a time to be bashful. You will not be confronted by a group of ‘Smart Alecs’ trying to show off their knowledge. Research has shown that only people who are keen to learn take the trouble to attend adult education courses in their own time.

Learn More Marketing Skills

The Professional Bookkeeper program teaches a step-by-step proven marketing plan for finding and keeping valuable clients. Most Accountants and Bookkeepers are great with numbers. With the proper marketing training, they can use logic to become effective salespeople. And the more effective you are at sale, the less of it you have to do. With less time spend on marketing, there is more time left for servicing additional paying clients.

Learn How the Professional Bookkeeper Program Teaches How to Become a Deadly Effective Marketer

Be Prepared If Prospective Clients Ask About the Competition

Don’t Advertise For Your Competitors

“Never mention the competition during your sales presentation” is a long-standing selling rule that has merit. Talking about other accounting services can shift the prospect’s attention away from your company to your competitors’ offerings. But what do you do if a prospect brings up the competition?

1. Get your facts straight. Respond to direct questions about other accounting services, but make sure you have accurate information. Otherwise, you’ll hurt your credibility. If you don’t know the answer to a specific question about a competitor, say so. Besides, as you learn about your competition, you might identify additional markets and methods that will bolster your own profitability.

2. Don’t criticize the competition. Prospects tend to become suspicious of professionals who are overly critical of their competitors.

3. When prospects ask you to compare your accounting services to the competition, they may actually be doing you a favor. Prospects want to be assured that they are making the best decision, and it’s your job to convince them that you can provide them with the solution they’ve been looking for. By asking about other accounting providers, they give you another chance to show how well you stack up against the competition (price, personal service, location, availability, accuracy, etc.)

4. Anticipate sensitive questions about why your services are better–or worse–than a competitor’s and you’ll be prepared to answer them thoroughly and accurately.

More Help With Running Your Accounting and Bookkeeping Service

Especially when you are first getting your Accounting and Bookkeeping business going, there are secrets to knowing how to run your service smoothly. We have compiled many useful resources to help you to keep your business running at top efficiency and profitability.

Learn the Secrets to Running Your Business Smoothly and Profitably