Mind Your Email and Save Yourself Some Time

Do you get hundreds of emails a day? Do you waste countless hours reading and responding to it? Some estimate that employees spend 40% of their time sifting through a bulging inbox. As a small business owner you can’t afford to waste the day away with tasks that don’t earn you money, and if you’re not careful, emailing can become one of those tasks. If you feel that your email manages you rather than the other way around, you need to take action and cut back on your email use. Here are just a few ways to do that:

File email
Organizing your email can help you find necessary information more quickly. Just as you file important documents in your office, it makes sense to take the time to create proper files for your email so you can manage it more efficiently.

Reduce junk mail
You inbox may appear more overwhelming than it actually is. If this is the case, junk mail is probably the culprit. Don’t sign up for email notifications, listservs, etc. if you expect them to crowd your inbox later. Take yourself off unnecessary mailing lists and report spam so that you can cut back on the junk mail that increases the time you spend in your inbox.

Schedule time to read and send email
Email often takes over your day if you open and respond to messages as they come in. Schedule a time to read and respond to email, say an hour a day, and try to keep within that time frame. Perhaps you spend 30 minutes in the morning and 30 minutes in the evening minding your inbox. That allows you to spend the rest of your day attending to weightier tasks like billable hours.

Consider holding a live meeting instead
Sometimes an email exchange can turn into a monster, requiring long responses from both parties that become confusing and convoluted. If you find yourself sending a potential email monster, ask yourself if a quick, live meeting (even on the phone) would save you time.

Confront email addicts
Some people are email addicts. You know who they are (perhaps you happen to be one yourself!). They like to forward email, be it relevant or not. They like to send lots of shorter emails that take more time to open, read and respond than longer, more effective emails. Email addicts also tend to be electronically needy, wanting more and more of your emails. If you find yourself pestered by an email addict, consider confronting the offender. This can be easily done. Simply suggest they cut back on their emails, gathering their questions and concerns into one message instead of multiple messages. And because you’re running a business it makes sense to communicate your need to limit the irrelevant and silly emails that may come your way.

Mind your outgoing mail
Sometimes we invite countless emails by our own email use. The following may help limit the responses you receive or make responses easier to manage:

• Choose your “subjects” well. Often we choose ambiguous subjects that make it difficult to find pertinent information later. Use the subject line to summarize rather than describe. For example, instead of simply titling your email “Accounting Deadline,” include specifics that will make it easier to find this particular email strain later: “Please submit payroll information by May 30th.”
• Refrain from unnecessary replies. In an effort to be polite we often write responses that are unnecessary and crowd the receiver’s inbox (it also acts as a subtle clue that you expect them to do the same in return). Avoid sending emails with short and unnecessary responses like “thanks” or “that’s great!” or “take care.”
• Avoid CC mania. This probably happens less in our profession, but it’s worth mentioning. Emailers often we go cc crazy when emailing, copying countless people who don’t really need this particular message in their inbox. Ask yourself who this message really needs to go to and limit your use of the cc feature.

Often in modeling good email usage you’ll find that your inbox will become even more manageable. By taking a few preventative measures you can avoid an unruly inbox and become more effective at your electronic communication.

Don’t Get Laid Off -
Recession-Proof Your Job

The Best Career Advancement Tool is Also Your Safety Net

Don’t be nervous. Next to getting fired, nothing makes employees more uneasy than hearing that their company is in the middle of a merger. Depending on your particular place in the company, this may or may not mean that your position is in danger.

It may be difficult to determine the vulnerability of your particular job, but you have a lot of options. At Universal Accounting, we meet people every week who have been the victims of corporate mergers, downsizing or layoffs.

Many people have successfully chosen our program as the option for their future. There is good news. An accounting and tax preparation education from Universal Accounting provides a safety net for you and your family. Whether you want to improve you chances for staying in your present job or want to strike out on your own with an Accounting and Tax Business, Universal Accounting has a program that makes it possible.

How Can I Say This?

We informally surveyed 100 of our graduates last year at their one year graduation anniversary. Of those 100 people, 75 of them were working in the field of accounting or had been promoted to a management position.

Many of these people had no experience in bookkeeping or accounting until they purchased our course. As they worked through the practice sets of books in our course, they built a solid foundation of experience and knowledge that helps them contribute on a fundamental level to the profitability of the small businesses they work with.

The economic climate for small business is so competitive today that businesses all over the country are realizing that without a complete and thorough understanding of the accounting process, they are crippled. Those who take the opportunity to learn these valuable skills contribute to the profitability of those small businesse. Their potential for earning a great income and creating a wonderful lifestyle is just there for the taking.

I Don’t Have a College Degree… Does That Hurt My Chances?

Absolutely not. Colleges and Universities don’t prepare you for working with the accounting issues that face small businesses. (Despite the fact that 85% of our economy is wrapped up in small business.) They focus on teaching corporate accounting and analysis.

Universal Accounting has been teaching small business accounting since 1979… that’s over 25 years. We’re the small business experts. Our graduates all over the country help small businesses from dry cleaners to bicycle shops. These graduates contribute to these businesses’ financial bottom-line every day. And as your clients become more profitable, they will happily do the same for you.

“You Never Know What’s Going to Happen.”

Brad Karsh, president of JobBound, a Chicago career-counseling company says. “The situation is highly volatile.”

Conventional wisdom used to be that if you were part of the company making the acquisition, you were safe, but that isn’t the case any more. There is no way to know for sure if you will be a casualty of a merger, regardless of which side of the merger you’re on.

In today’s uncertain economy, you can protect yourself and your family from the uncertainty that follows a corporate merger. Of course, it takes a proactive approach… an investment in yourself.

The “Right” Investment in Yourself Protects You and Your Family

Whether you plan to stay in the corporate world or start your own business, a complete education in accounting and tax provides a great safety net. Skilled and qualified bookkeepers and accountants will always be in demand regardless of the industry. And these skills enable you to create a wonderful part-time income working out of your home as well.

As long as the government requires companies to maintain accounting records and file income taxes, the profession of bookkeeping and accounting will not go away. For job security that has existed since before the Italian Renaissance, I have not found a better opportunity available anywhere.

Don’t Miss Out on a Great Deal for 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 your current employer and future clients on 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.

Maximizing income from your client list is easier than you think.

In past articles we’ve talked about building your database of names and depending on how you utilize your accounting software; you will more than likely have that done already. If you haven’t yet, don’t worry, it’s a lot easier than you think.

There are companies all over the world that pay thousands and thousands of dollars to have access to a list of names to communicate with. I think it’s safe to say that one of the most valuable assets your business has, is your data base.

In previous articles we’ve talked a little about how to utilize that database to build a personal relationship with your clients. With the right information you can use your database to create a more personal connection with your clients. There are a number of very obvious times to connect with your clients.

• On birthdays.
• Anniversaries.
• Other client specific special days.

I subscribe to a couple of online newsletters who always remember my birthday and communicate a greeting to me every year. It helps create a sense of community and helps keep me subscribed to their service… even though I understand what they are doing.

How do I take the next step? I’d like to do more than send a birthday card to my clients.

Jay Abraham, marketer and author says, “The single most important strategy you can use to maximize the value of [your client list] is to communicate on a regular basis with everyone who contributes, or ever will contribute, in any way to your business success.”

Mr. Abraham continues, “The more contact and communication you have with a person, the stronger and richer the relationship becomes. In business the secret to keeping and growing clients, as well as growing a career is to keep continual and meaningful communication with everyone important to you. This is a simple but very powerful method for getting the very most out of your client or key contacts.”

If all you tell your clients is how good you are… it won’t work.

Give your clients an opportunity to tell you how you’re doing. Make sure they understand that you are committed to providing the finest service that you are able.

Make sure that every communication you have with your customers focuses on the benefits of your relationship to them. Your clients should be treated as near and dear friends, because people prefer to buy from their friends.

Regular communication will build a personal connection.

As you work with your clients, if you treat them as dear friends, regular communication with them not only becomes easier, but will become something that you look forward to. There’s not doubt about it, regular communication with your client list allows you to:

• Keep them up-to-date on issues that will affect them and their business.
• Make them aware of special offers or services.
• Changes that occur in your business.
• And more importantly, build a personal connection.

Many big corporations, who are unable by their nature to build a personal connection with their clients, spend thousands of dollars every year on golf tournaments, fishing outings and other “feel good” style activities in an attempt to build those types of relationships with their salespeople.

The beauty of the nature of your relationship with your clients is that you are in a uniquely intimate relationship with your client to begin with. You are trusted with the most important part of their business, the financial accounting.

I realize this is important, how do I do it?

It’s as easy as a follow-up telephone call, an e-mail or a letter. Take your calendar for the year and create a plan for communicating with your clients on a regular basis. Although the telephone is probably the most personal, e-mail is such a big part of doing business these days, and the nature of e-mail is not as intrusive as a phone call. Plus it’s easy to create a letter to send out via e-mail, it doesn’t cost postage and because it’s practically instantaneous, you can target contacts with information that carries some inherent immediacy.

Universal Accounting has the answers to your marketing questions.

I haven’t found another bookkeeping or accounting program that offers as complete an education as you’ll find at Universal. Nor have I found another program as interested in making sure you succeed.

With the finest accounting education available and the only school I’m aware of that teaches you how to market your Bookkeeping and Accounting business, I think you’ll agree that Universal Accounting is the “perfect” education for not only starting your business, but for making it a profitable and rewarding success as well. Follow the link below and find out for yourself how exciting a career in accounting can be for you.

I’d like to see how starting a Bookkeeping and Accounting business will work for me.

A Support Coach Will Bring Out the Winner in You

In a movie, The Legend of Bagger Vance, a caddy (played by Will Smith) coaches a skilled golfer (played by Matt Damon) to perform well above his capability. The golfer knew how to swing a golf club, and the entire town of Savannah was behind him, but he needed the perspective and guidance of a coach to meet the challenge.

This is not only true of golf wins, but can be said of most success stories - we all have coaches of one kind or another. Though they may be friends, family members, or professional associates, coaches can and will influence our actions. These people can spell the difference between success and failure. The key is to find one that will lead you to meet your objectives.

The ultimate Support Coach has three characteristics:

1. They are available to work with you.
2. They will motivate you when you need a little encouragement; and.
3. They understand what you are going through.

If you already know someone that matches this criterion, then congratulations are in order.

What a Coach Can Do for You

How you work with a coach depends upon your particular needs. If you’re adequately motivated, you may just need answers to questions as they arise. In this case, find someone that is knowledgeable and experienced in the areas you need the greatest support. Explain to the coach why you need his or her help, and then get contact information including a phone number, best hours to be reached, and an email address. The fee for such services depends upon the coach you’ve chosen and what it’s for. But, if it’s for professional assistance, then you’ll want to at least offer to pay for the help. The cost is really an investment. And when you consider that a coach’s help could be the difference between success and failure, the price is typically irrelevant.

If you often wonder if you did the right thing, or you find that you’re letting yourself down, then you need a coach that will help you re-examine your objectives, put you back on course, and hold you accountable to yourself. This can only be done by setting up a regular appointment to review what is happening, what is expected, and sometimes, what you’re dreaming about. These meetings may occur weekly, if necessary, but never less than monthly. Otherwise, you and the coach run the risk of losing touch with the progress. A good coach will review action items with you from the previous meeting, and keep detailed notes on follow-up steps.

Frankly, most people will find a coach that falls short on one or more of these key attributes. When that happens, the experience usually ends in frustration for both the individual and the coach. So, an increasingly popular option is to seek a professional coach - someone who is skilled at helping a person succeed.

Universal Accounting Center’s Master Coaching Programs

Universal Accounting Center has two coaching programs designed to give you that extra help you need to succeed. If you are already a Universal student, chances are that you are familiar with the Academic Coaching program. Most likely you received support when you purchased the training program. At that time, you were assigned an academic coach who is qualified to answer all of your accounting, software and tax questions. Academic Coaches are full-time staff located at our corporate headquarters in Utah who are skilled professionals in accounting, tax, and marketing. They spend all day, during normal business hours, responding to student questions. Click here to read more about this program.

For those who want the regularly scheduled coaching sessions, Universal offers the Master Coaching Program. For a relatively modest fee (especially when compared to other coaching programs), a student is assigned a Master Coach who will follow-up with the student at pre-arranged times each week to review progress on past objectives, discuss the student’s current position, and recommend action steps to take the student to the next level.

Probably, the greatest advantage in using a Universal Master Coaching Program is that these professionals are focused exclusively on the accounting career. Unlike other coaching programs, the Universal Coaches are masters in helping the accountant reach his or her expectations - they know what works and what doesn’t. This specialization gives them insights that no other Coach will have.

Enroll in our Master Coaching Program today! And if you want to aim higher, we suggest you consider pairing it with the Professional Bookkeeper Program and the Universal Practice Builder Program, both designed to help you start and/or build your own accounting practice.

We’re certain you’re an amazing financial professional. We’re also certain, that will a little coaching you can become even better. Order now!

Putting the Right Foot Forward

Motivational author Orison Swett Marden once said, “The first part of success is get-to-it-iveness. The second part is stick-to-it-iveness.” Beginning any small business takes an act of faith and a lot of bravery; it’s a leap into the unexplored. The fear of failing, more than anything else, holds people back. It cripples action and makes failure inevitable.

Wouldn’t it be nice if starting a business only required a store front and some business cards before droves of people walked through your door? This fantasy is a rare occurrence in the business world and odds are it won’t happen just like that for you. So what can you do?

One of the best ways is to create a Marketing Plan for your business. In fact, determining your marketing strategy will probably require the most effort. Let’s review what you’ll need to design the right marketing plan for you:

Description of Products/Services

What are you bringing to the marketplace? What services are you looking to provide? Daily, monthly, quarterly bookkeeping? Detail what you want to do for your potential customers. This list doesn’t have to be excessive, but you should be as thorough as possible.

Market Analysis and Pricing

When completing this section of your Marketing Plan, consider the following questions: What is your target market? What types of services would attract your ideal customer? Who do you want to work with? How big is the estimated size of your potential target demographic?

A Market Analysis also requires you to research your competition and their impact on the market place. Do you have competitors in your market? What are your competitors charging for similar products and services? How may they be “packaging” the services that they do? And once you determine who your competitors are you can research the following: How are they structured? What type of businesses do they serve? What marketing strategies have they used to gain business? What do they do well? What do they do poorly? Knowing these things will give you an edge once you sit down with that potential client. It will also give you a competitive advantage in your marketing efforts.

As you detail your services and prices, remember to be specific. If offering various services (tax preparation, tax planning, filing tax forms, consultation, etc.) create a pricing sheet that lists each product and service and how you plan to charge for it. With this in place you can better project future sales and possibly better estimate how many clients you need to become self-sufficient and more importantly, profitable.

A Financial Plan

A Financial Plan is a forecast of how you will grow financially over the course of the next 3 to 5 years. By gaining the price point on which you will be billing your customers, and the rate of growth you expect and need to have each month, you will be able project what you will be earning. With that knowledge you can best plan out how you will do what activity when. All this should allow for a marketing budget as well.

Once you have accomplished that you are ready to advance to the next level of your Marketing Plan.

Marketing Goals and Objectives

First you need to determine what you hope to accomplish through your marketing efforts. It’s important to be as specific as possible because once you state your goals you can use them later as a measure of success. Once you have created the road map you wish to follow with your business plan, you need to create your “game plan” on how you are going to get from milestone to milestone. When you do this you will often find that there are things that you may have not considered before but are essential to achieving your ultimate goal. The focus of your business actions will become clearer, and your daily activities will then more purposeful as a result.

Clarify each Marketing Objective, that’s a key concern in writing your goals and objectives: are they measurable, meaning, can you determine later whether or not you’ve achieved them? For example, saying you want to be more successful is not necessarily something you can measure later on. But saying you want 10 new clients by the end of the year is measurable. And be realistic. Setting unrealistic goals will only discourage you as you move forward. This may require you to do more research; what are some realistic expectations for growth in a successful accounting practice?

UAC Can Help You Develop a Marketing Plan

If you’d like to learn more about effective marketing techniques, Universal Accounting Center has a DVD designed to help you effectively promote your accounting practice. You’re less than $10.00 away from learning which marketing strategies to include in your marketing plan. Order today!

Marketing You Can Do Without Breaking The Bank

If you have ever watched the Super Bowl, you know a good portion of the circus that follows the game is all about the advertising. The marketing strategies that are being attempted, some successfully, some not are all trying to do one thing: get people in their doors. For use regular joe’s doing business in every day life, we couldn’t imagine paying what it costs to get that amount of publicity. Quite frankly, as an accountant, you wouldn’t want that either.

Here are a few ways to be able to get your word out to those who will best benefit your practice. Ways that, if done correctly will not have to cost you any more than the time to accomplish it.

Community Support
This tactic is a feel-good all the way around. And getting contacts truly is a by-product, or a happy coincidence to the action you are taking. What action is that? Volunteering is the action to take. Find a cause that you can get behind, one that you are comfortable with and get you and your company’s name involved. When you are “Jerry From Nickel and Dime Accounting” out there helping out those in need those organizers, and directors are going to see the genuine goodwill you have they will be inclined to discuss with you what’s on their minds. And it’s been my experience, that those who are in the fundraising industry have connections to tons of small business owners.

Now should you volunteer to get business contacts? No, do it out of the goodness of your heart, however, you may also be able to assist those who have also volunteered their time as well.

Networking Luncheons
Now this tactic is a simple one, and it can cost you a weekly lunch or two, but these groups (loosely organized in cities or through local chambers of commerce) are great places to make the connections you need to build your customer base. Perhaps there isn’t a need within the group that you meet with, but it is very possible that they know of others who are in dire need of someone with your skills and talents as an accountant and will get you connected with them. Keep yourself always available to assist those with their accounting needs.

Just Asking Those Who Know
Our students and our graduates keep telling us that when we told them, to simply ask those around them who may need to have accounting help, that they didn’t know how good that would be for them. We have lost count on how many students have gotten back to us and said that they were able to increase their billing hours, or gain another client, or find another industry that they could service by just the simple act of asking about it. One of our students, increased his monthly billings by $4,500 in just one week, only by asking those around him!

Simple, but so very effective. Marketing can seem daunting, especially if you aren’t inclined to be that way in the first place. All it takes to be good at marketing, is the actual doing of the marketing. Test these tactics out yourself and find out how you can change in a very short time the outlook and the growth of your practice.

Are you ready to take the next step in the process you have started in the accounting field? Are you tired of coming across those times when you know you could have done better if you just had the training in this or that aspect of the accounting, bookkeeping process? If only you had a way to learn how to market your accounting practice from an accountant who has been successful?

Be the Profit Expert Professional for Small Business! Don’t hesitate another day in getting the Accounting and Marketing Training that makes the difference. Click here to get more information on what you need to know about becoming the Profit Center Expert for small business accounting and tax!

Even star accounting salespeople fall into a prospecting slump now and then. Here are some sure-fire steps you can take to shake yourself out of a slump and move on to higher ground:

Boost Your Confidence In Your Abilities

Until you are convinced that you are good at what you do, you will not convey to prospective clients that you have confidence that you can do what you say you can do. Write down your fundamental strengths as a freelancer. Think about your successes. Set goals that you want to achieve and visualize your victories as an outstanding professional as if they had already happened.

Start With Success

Make a quick list of your most likely prospects - your Preferred Client Profile. Meet with these people before you meet with others. Not only are you focusing on those that are most likely to end up as a sale, but the positive contact that you have with them will boost your confidence when dealing with less than ideal contacts that may not be as interested in your service. Success begets success and failure begets frustration. If you begin on a high note, those that are less receptive will be less likely to bring you down and frustrate you. Then, when you meet a negative contact, try not to focus on them, but constantly refer back to when you were successful. Don’t create a mental block by beating yourself up, telling yourself that you are not good at sales or other negative things. Assume that the prospective client just didn’t need your services, give them a smile, and move on. A good salesperson is one that can shrug off some rejection and focus on their successes. Be positive … your success depends on it.

Innovate

Try out new ideas. For example, invite the prospect to lunch with you and one of your present clients. A fresh outlook can be just the thing you need to get back into the swing of prospecting. Never assume that just because what you have done in the past was successful that it is the MOST successful way to do things. Constantly tweak your sales pitch, trying out new approaches, and write down after the meeting what you said and how it was received. Weed out pitches that consistently don’t work. Insanity has been defined as doing something the same as you have always done it but expecting a different result. If what you are doing isn’t working, try something new. You have nothing to lose and everything to gain!

Work the Numbers

There are only two ways to increase sales: Increase your closing percentage or pitch to more people. Increases in effectiveness per client may take time to develop, and you want to make money now. While improving your closing rate will help, you have less control over it than you have of the sheer numbers of contacts that you make. In fishing, the term “suicide fish” refers to a fish that any angler could land, no matter how poor. In sales, you will find suicide fish as well. There are those out there that need and want the service that you provide. They don’t want to do their books themselves or do not want to take the time to learn how. You just have to find them. They will purchase your services because they need what it is that you have to offer, even if you are not the most eloquent sales person. You will learn to get better at sales over time, but to get started, the quickest way to increase sales will be to increase the number of contacts that you make. When you find a client, it will boost your confidence as well as your bottom line. That increased confidence will help to fire you up to go out and find more. Your successes will beget more success. Remember: “The last sale you made was at one time your next call”.

Network With Other Freelancers

Rely on other freelancers to help keep you excited and to learn best practices. Compare notes and keep one another’s spirits up. Enthusiasm is contagious. On the days you don’t seem to have it, you can catch some enthusiasm by talking to a colleague who’s riding a winning streak. If you don’t know other freelancers, this might be a good opportunity to look a few up where you live by clicking the link below:
Visit the Accounting Network

Cold Calls

Do some cold calls. Stepping outside of our comfort zone with the challenge of cold calls can help you get back into the game. Try networking with groups or in settings that you previously had not thought of. For example, I know of an Accountant that marketed to independent truck drivers with great success, while other Accountants probably never thought of marketing to that group. When you cast a wider net, you will find niche markets like that which had never occurred to you. The only “perfect lead” is the one that you sell to. If your current target market is either saturated or simply is not returning the results that it used to, you will want to remove limits that you may have placed on yourself and who you tend to market to. Cold calls are a good way to get back “in the trenches” with your potential customers.

Learn Success Techniques From the Successful

If you want to improve your golf game, do you consult the guy next to you that is doing about as well as you are. No, you consult a pro. When it comes to sales, there are some excellent resources out there that will not only teach you effective sales techniques, but will help to get you worked up and excited about sales. Motivational sales people like Brian Tracy will help to get you motivated and excited about making money at what you love to do anyway.

Use these tips to get out of your prospecting slump and, as Zig Ziegelar says, “I’ll see you at the top!”

Module 4 of the Professional Bookkeeper Course teaches other marketing strategies to make your Accounting and Bookkeeping Service profitable.

Learn More About What Module 4 of Our Accounting and Bookkeeping Course Teaches About Marketing Your Business

“Marketing is not an event, but a process . . . It has a beginning, a middle, but never an end, for it is a process. You improve it, perfect it, change it, even pause it. But you never stop it completely.” — Jay Conrad Levinson

We can’t emphasize enough the importance of good marketing. Like Levinson says, sound marketing is continuous and never-ending if you want your business to thrive. And the best way for a business to thrive is to have a good marketing plan.

Last week we began outlining the key elements of a good marketing plan. We discussed the following:

• Marketing Goals and Objectives
• Pricing of Products/Services

Today we’ll wrap up the discussion by covering two more elements of a good plan.

Key Marketing Strategies

It’s important to determine which marketing strategies you’re going to use from the onset. Obviously you can assess their success and revise your strategies after they’ve been implemented, but you need a starting point. And remember, the marketing plan is only making projections for one year; you have plenty of time to change course and revise your strategies.

Questions to ask as you develop a marketing strategy include: Which promotional methods work best for my target market? Which methods will I use? What type of tangible results will I use to measure my success? How long will I wait to see those results before revising my strategy?

To help you brainstorm marketing tactics that might work for you, we’ll list a few here:

• Direct mailings (brochures, postcards, flyers, etc.)
• Television advertisements
• Radio advertisements
• Print advertisements (in magazines, newspapers, local publications, the phone book, etc.)
• Website promotions
• Ezines
• Newsletters
• Press releases
• Promotional games and activities (ability to win or receive promotional materials)
• Exposure at conferences, seminars, workshops, and community outreach programs
• Hosting an open house or business party

And that literally names just a few. As with most of the other elements in your business plan, it’s good to do a little research before you write this section. Purchase a book on marketing, find out what strategies your competitors are using, and ask members of your target market how they’ve found their current accountant.

Implementation of Your Marketing Plan

This portion of your plan articulates how you will implement your strategies. This should include a schedule and list of key tasks you’ll need to complete in order to start and complete your plan. You should also consider the resources you’ll need and who you might use when outsourcing some of these tasks. It’s a plan for success, and once you’ve written it you’ll have an easy blueprint to follow; you won’t get a few months into startup and have to waste time and energy thinking through things you’ve already researched and decided.

Writing Tips

It’s important to realize that none of these elements should be written independent of the other. The marketing plan is closely related to the entire business plan, and you’ll learn more about how to market as you write the rest of your plan. Each section can be revised and rewritten as you learn more from writing other sections. Don’t think that simply because you’ve completed one element that it’s written in stone. Writing your business plan is a learning process and you’ll learn more about your business, your approach and your marketing philosophy as you write it. Give yourself the time to do it right.

UAC Has Helped Countless Others Build Their Own Accounting Practices

Universal Accounting Center has helped others like you start and grow their own accounting practices. Sometimes all it takes to get motivated is to hear from others who have achieved success. And because we enjoy introducing newsletter subscribers to other areas of our website, we invite you to visit our Universal Practice Builder site for compelling testimonials.

The fact is, everyone is in sales. Whatever area you work in, you do have clients and you do need to sell.—Jay Abraham

No matter how good you are at accounting, you still have to focus some of your energy on marketing; if you don’t do any marketing, you’ll have no one to do any accounting for. So what to you do? You create a marketing plan to go along with your business plan.

Oh boy, you’re thinking, the Business Plan was enough to overwhelm me. But because you’re writing the marketing plan in conjunction with your business plan, you’ve already done some of the necessary work for this portion. In fact, determining your marketing strategy will probably require the most effort. But let’s review the information from your business plan that will help you with the marketing portion of your plan:

• Description of products/services
• Market analysis
• 3 to 5-year financial plan (which should have allowed for a marketing budget)

In your business plan, you’ve already connected your services to a target market, analyzed your competition and their marketing strategies, and defined a marketing budget. Here are the first two elements of an effective marketing plan:

Marketing Goals and Objectives
First you need to determine what you hope to accomplish through your marketing efforts. It’s important to be as specific as possible because once you state your goals you can use them later as a measure of success. And that’s a key concern in writing your goals and objectives: are they measurable, meaning, can you determine later whether or not you’ve achieved them? For example, saying you want to be more successful is not necessarily something you can measure later on. But saying you want 10 new clients by the end of the year is measurable. And be realistic. Setting unrealistic goals will only discourage you as you move forward. This may require you to do more research; what are some realistic expectations for growth in a successful tax preparation practice?

Pricing of Products/Services
This will also require a little research. What are your competitors charging for similar products and services? Again, be specific. If offering various services (accounting, payroll, tax preparation, etc.) create a pricing sheet that lists each product and service and how you plan to charge for it. With this in place you can better project future sales and possibly better estimate how many clients you need to become self-sufficient and more importantly, profitable.

UAC Can Help You Develop a Marketing Plan
Universal Accounting Center understands that marketing may not one of your strengths and has designed a DVD intended to help those of us who are marketing-challenged. For just $4.95 you can learn effective marketing strategies for your tax practice. You’re less than $5.00 away from learning which marketing strategies to include in your marketing plan. Order today!

Before you join networking groups and attend meetings, it makes good sense to ask yourself just who comprises your target market.

Focus Your Efforts on Your Target Market

It is this group that you need to focus your marketing activities on.

There is little value in spending both your time and your money with groups whose membership doesn’t include people or businesses that you regard as being part of your target market.

The “scattergun” approach of networking or generating referrals, while it can achieve some inconsistent favorable results and give you a “warm and fuzzy” feeling in the process, pales into insignificance when compared with targeted strategies.

Identifying Your Target Market

So just how do you identify your target market?

Here are some suggestions that may help you:

• Review your current client base and determine if there are any business or industry groups that are clearly defined
• Are there are any particular business or industry groups in which you possess some special expertise?
• Are there any business or industry groups with whom you especially enjoy working?
• Do you have prior experience in any particular business or industry groups?
• Are there any business or industry groups that you are not currently working with but would like to?

Armed with this information you should be able to draw up a target market hit list which will incorporate those business or industry groups you will focus attention on.

You will now approach networking groups and marketing generally with such energy that you will surprise even yourself. The difference between scattergun and targeted marketing is like chalk and cheese.

Additional Marketing Training

Module 4 of our Professional Bookkeeper program, entitled “Building a Successful Accounting Service” describes other marketing methods to make your Accounting or Bookkeeping service grow!
To see an overview of marketing concepts that the Professional Bookkeeper course will teach you Click HERE.