Accounting and Bookkeeping Articles

The hardest arithmetic to master is that which enables us to count our blessings. - Eric Hoffer

Gratitude is merely the secret hope of further favors.  - Francois De La Rochefoucauld

Appreciation can make a day, even change a life.  Your willingness to put it into words is all that is necessary. - Margaret Cousins

‘Tis the season to give thanks!  In just a few days we’ll be celebrating the holiday that focuses on gratitude.  In these current times of economic turmoil it may be difficult to determine exactly what we have to be grateful for.  But as Buddha once said, “Let us rise up and be thankful, for if we didn’t learn a lot today, at least we learned a little, and if we didn’t learn a little, at least we didn’t get sick, and if we got sick, at least we didn’t die; so, let us all be thankful.”

Gratitude is a powerful emotion.  It can change your relationship with others, alter your perspective, and perhaps, grow your business.  Consider the following three exercises in gratitude as you offer thanks this Thanksgiving:

1. Discover all that you have to be thankful for

Your first task is to determine all those things you have to be grateful for.  In tough times that can be difficult.  You may be required to consider things you regularly take for granted: perhaps good health, a place to live, family and friends, food to eat, gracious neighbors, hope for a better tomorrow.

Those who believe in the Law of Attraction would tell you that in focusing on all the things you are grateful for, you will begin to attract more good things into your life.  Either way, focusing on the good will raise your spirits.

2.    Develop an attitude of gratitude

Consider a business run by a depressed, negative staff.  Such businesses exist, and they rarely become power companies.  Consider a business run by an enthusiastic, upbeat staff.  Such businesses are more likely to generate positive experiences with their clients.  When you focus your energy on all the good things in your life, you develop an attitude of gratitude which impacts employees, clients, and contacts in an affirming way.  Your business will be much more successful simply because you have a positive attitude.

3. Express thanks to your clients

Everyone likes to be appreciated.  And when you realize that your business wouldn’t exist without your clients, it becomes easier to feel genuine gratitude for everyone on your roster.  When you are able to do more than simply feel gratitude for your clients, but also express it, you’ll find that your clients feel better about the services you offer.  Now is the perfect time to let your clients know that you are thankful for their service.  You’ll find that they’ll be more likely to refer their friends and family to your business when they recognize your sincere appreciation.

Thanksgiving is the perfect time to reflect on all those things for which we have to be grateful.  It’s also a good opportunity to practice gratitude in a way that can positively impact our lives, and not just throughout the holidays.  Take the time to consider all those blessings you enjoy, and then feel grateful for them.  You may be surprised at how such a simple act can change your life experience.

Thank Us Later!

Consider what your life would be like without the convenience of modern technology.  Without software programs like QuickBooks, we would be required to do things the slow, old-fashioned way.  Thankfully, we don’t have to.

The Professional Bookkeeper’s Guide (PBG) to QuickBooks will enable you to master this software program that over 80% of small businesses use to manage their accounting.  Once you do, you will be able to work more efficiently as you use all the features, functions, and shortcuts QuickBooks offers.  Not only will the PBG enable you to manage your own books more efficiently, but it can increase your bottom line as you add QuickBooks consultation, help and setup services to your menu.  With hands-on training you can earn a professional designation as a QuickBooks Specialist that will give you the creditability you need to convince prospective clients that you are an outstanding bookkeeper!

With just one small initial investment, you can increase your income and your clientele.  Don’t wait to thank us.  Order now!

In this day and age of texting, instant messaging, and cell phone stock trading, you must be quick and succinct in order to promote your business.  While the elevator pitch is a fairly effective way of endorsing your services in 60 seconds or less, professionals are expecting an even more truncated approach to self-promotion.

In May 2008, BusinessWeek online introduced the concept of the Escalator Speech which can be relayed in 10 seconds or less.  If you can get that right, more professionals will be willing to stay for a more detailed explanation of your services.

Your escalator speech should be contained in one sentence that is relevant and concise.  Also coined the Twitpitch and the Fortune Cookie Message, it should represent your business well and generate interest in your services from qualified, prospective clients.  Consider the message relayed by Google founders to their investor: “Google would provide access to the world’s information in one click.”  The investor quickly appreciated the vision these young upstarts had for Google.

So how do you pare down your message so that it can be relayed in 140 characters or less? (While 140 characters may sound like a lot, this sentence, counting spaces and punctuation, is exactly that long-not much room for hot air.)

First, you must understand and appreciate the value your business offers.  If you have trouble articulating why your business stands out from the competition, it may be a sign that your business doesn’t yet have a competitive edge.

Second, you must know how your business benefits the listener; this will generate interest in your services.  Brian Solis, author of PR 2.0, explains that this means you must tell the investors how your business will generate income and tell prospective clients how your business will solve their problems.  This may require a different escalator pitch for different audiences.

Third, think of your escalator pitch as a slogan or tagline that would work well in an advertising campaign.  You may even want to start with your mission statement, and tweak it to fit your needs.  Consider Universal Accounting Center’s slogans as an example of springboards to potential escalator speeches.  Changing the face of accounting, one small business at a time may become, “UAC trains students in small business accounting, providing graduates with the skills that will increase a small business’s profitability” (137 characters).    And, If it’s about accounting, it’s Universal may become, “Learn small-business accounting at UAC where we have taught graduates how to start successful bookkeeping practices for more than 25 years” (138 characters).

Your business will benefit from your ability to promote your services quickly and succinctly.  Vinnie Lauria, co-founder of Lefora, explains, “If you have to take more than one sentence to explain your service, people aren’t going to wrap their heads around it.”

Take the time to scrutinize your business enough to create an escalator speech that adequately relays your value in one sentence.  You’ll find that when you do, listeners will be more likely to stick around for even more.

Associate with Peers

You can see how other bookkeepers and accountants are promoting their services by joining our accounting and tax forum.  Upon joining, you can associate with other professionals who are encountering the same issues and challenges with which you may be currently dealing.  Take the time to create a profile today. It’s free and provides you with the perfect networking opportunity.

References

Tozzi, John.  “The Escalator Pitch.” 16 May 2008 BusinessWeek.com

Why Now’s the Perfect Time to Shift Gears

In the face of recession the natural tendency is to lay low, to duck and cover.  It’s likely that your competitors are doing that already, which is why this is the best time for you to shift gears and take advantage of the economic downslide.  Here are six things you can to move ahead during the recession:

1. Take advantage of down time

Remember all those times that you bemoaned your crowded schedule and lack of free time?  And remember all those things you had to place on the backburner because you lacked the time to attend to them?  Take advantage of downtime by doing those things you may not have had time for before: networking, de-cluttering your office, researching industry trends, reorganizing your files, following-up with prospective clients, etc.

2. Hire good talent

Now’s the perfect time to hire good talent for less.  The recession has left lots of talented individuals without jobs and without appealing positions to which they can apply.  You will be able to select from a qualified pool of applicants and bolster your staff in order to prepare your business for number three!

3. Prepare your business for an influx of new clients

Think positively and prepare your business for what might result in an influx of new clients for you.  As you market more aggressively (see six below), build your staff, and take advantage of downtime, you’ll find that your client roster will begin to grow.  So use this time to prepare yourself by ensuring that you have the resources necessary and processes in place that will enable you to manage all that business more efficiently.

4. Cut expenses

Of course it’s a good idea!  Take a look at your budget and see if there’s anything you can cut.  While an accounting practice doesn’t have much overhead, you may consider ways you can streamline your workflow, accomplishing more in less time.  Your objective should be to increase billable hours while cutting unnecessary expenses.

5. Diversify your services

The best way to take advantage of this recession is by making it more appealing to prospective clients.  Have you considered adding QuickBooks services to your menu?  Or perhaps you could learn how to prepare a small business’s tax returns as well as manage their books?  You’ll definitely gain an edge over the competition when you are able to provide full financial services for your clients who will be more than happy to take all their financial needs to just one firm.

6. Practice aggressive marketing techniques

Chances are your competitors are currently trying to maintain their rosters rather than grow them.  Big accounting firms are focusing on their A-list clients rather than their smaller ones who are no longer worth the time or energy to maintain.  Your aggressive marketing techniques will enable you to acquire many of those small business accounts that have been overlooked or forgotten.

Not only that, but when you market like there’s no tomorrow, you inspire more confidence in current clients who see your efforts as evidence that your business is thriving despite the recession.

Universal Can Help You Market More Effectively

UAC has been helping professional like you gain the skills necessary to succeed as small business accountants.  With over 25 years experience, we not only know the skills required to succeed but the strategies you need in order to market your skills more effectively.

It’s no secret that accountants are not marketing experts.  In fact, some accountants even get a little nervous when talking about promoting their services.  With UAC’s Universal Practice Builder (UPB) Program you will have everything you need to grow your business and your bottom line.

Here’s a sampling of what you will gain from enrolling in this amazing program:

• A guarantee of $30,000 in new annualized billings in only 12 months
• 12 marketing strategies that you can implement immediately
• A process which can produce 15 to 25 qualified leads per month
• 3 months of coaching via telephone and Internet
• Training on a computerized database tracking program
• A presentation DVD to show potential clients

While your competitors hunker down for a long recession, you need to take advantage of this time to grow your business and become the premier accounting firm in your area.  And when you enroll now you will receive QuickBooks Made Profitable (QBMP) for FREE, a program designed to help you use your QuickBooks expertise to enhance your services and attract even more clients!  You’ll be trained in the following:

• A proven system in using QuickBooks to attract larger numbers of potential clients
• Representing yourself as a QuickBooks expert
• Leveraging your time
• Meeting potential clients
• Offering clients services that will help them reduce taxes, increase profits and put money in the bank

Only ostriches hide their heads in the sand.  Don’t duck and cover simply because the economy is struggling.  You can take advantage of the recession and have a stronger business as a result.  Order this package today and begin a journey to a brighter financial future for you and your business.

5 Tips in “Thriving” an Economic Recession

Many would agree that there’s no question we’re currently experiencing an economic recession.  That has many small business owners panicking as they worry about the longevity of their businesses and livelihoods.  Entrepreneur.com’s networking guru, Ivan Misner, has written a blog series entitled “I Refuse to Participate in a Recession” where he examines how business owners, in changing their perspectives, can thrive, as opposed to survive, an economic recession.  This week we will examine five tips designed to help you change your experience with the current economy.

1. Assess your internal dialogue.

How you experience the economy has more to do with what you’re telling yourself about it than it does the statistics, the news forecasts and the bailout proposals.  If you have determined that things are bad and they’re only going to get worse, for both the nation and your business, then chances are they will-not because that’s what’s destined to happen, but because that’s what you believe will happen.  Your internal dialogue determines whether or not you become a victim in the current economic crisis or a survivor-or should we say, thriver.

2. Focus on what you do want, not what you don’t want.

The Law of Attraction exerts that your life is a reflection of what you think, what you focus on, and what you expect to happen.  You must turn your attention away from worry and fear.  While it is a good idea to develop a plan for the worse-case scenario, once that plan has been laid you must move on to brighter thoughts.  Consider what you do want for your business and keep those ideas in the forefront of your mind.  Those thoughts will continue to attract more positive things into your life and business.

3. Maintain a positive attitude.

Try to remain as positive as possible.  While thinking more positively is a good first step, maintaining a positive attitude has a lot to do with your emotions as well.  Try to do those things that enable you to feel more upbeat and positive.   Exercise, read, maintain your hobbies, watch comedies.  It’s much easier to remain positive when you’re participating in those activities that make you feel good.

4. Become more competitive.

Consumers are now, more than ever, keeping a close eye on their pocketbooks.  This increases the competitive nature of the marketplace.  If you don’t increase your competitive advantage now, you’ll feel the impact on your bottom line later.  Consider adding complementary services or increasing your marketing efforts in order to counteract these effects.

5. Take action.

Entrepreneurs that passively “wait out” the recession will probably find their businesses in need of serious resuscitation when the dust clears.  Take action to improve your business regardless of what the economy is doing.

The Universal Practice Builder Program

Now is as good a time as any to grow your clientele.  Regardless of the economy, small business owners are still required by law to keep accounting records.  However, the market will grow increasingly more competitive as prospective clients look for the best accountant to meet their needs.  You must better market your services in order to generate the most appeal for your particular skill set.

In all our years working with accountants, bookkeepers and tax preparers we’ve come to understand how to best market your services.  Our Universal Practice Builder Program will provide you with 12 marketing strategies that will enable you to secure 15 to 25 qualified leaders per month, a guarantee of $30,000 in new annualized billings in only 12 months, three months of master coaching, and access to a proven plan that will help you retain clients.  Again, you can complete this amazing program on your time and at your own pace.

When you order this program now, you will receive a second valuable program, QuickBooks Made Profitable, for free! Designed to help you attract even more clients using your QuickBooks expertise, this course will enable you to start and maintain an even more lucrative practice.

80% of small businesses use Intuit’s Quickbooks software.  Learning Quickbooks will help you keep more efficient records, enabling you to teach your clients how to use the software so that you can get the information you need which will make your job much easier.  In addition, this program will teach you how to attract more clients using your QuickBooks setup, help, and consulting services.

Take advantage of this marvelous opportunity to stay the course and thrive the current economic recession.  Order now!

References

Misner, Ivan.  “I Refuse to Participate in a Recession (Part 2).” 1 October 2008 Entrepreneur.com Blog Network.