Accounting and Bookkeeping Articles

7    Tips in Getting Your Business off to a Fresh Start

We know it’s cliché, but true:  If you fail to plan, you plan to fail.  The New Year is a great time to revisit your business plan and assess your current standing.  Current economic turmoil should be reason enough to revamp your business strategies and begin 2009 with a solid list of goals.  As you anticipate difficulty and plan for success, you’ll find your business in better shape than ever.

Consider the following tips:

1. Revisit your business objectives.

Remember that fire within that motivated you to start your business in the first place?  Generally it’s the passion for what you do that helps you move forward, through the good times and the bad.  You should revisit your business objectives regularly, reminding yourself of the vision with which you started your practice.  How close are you to accomplishing those objectives?  What would it take to exceed them?  Is it time to revise them, and consider how to see your business become, as the Olympic motto suggests, faster, higher, stronger?

2.    Contact all previous clients.

Now may be a good time to contact previous clients who no longer retain your services.  Send them a quick note or email asking how they’re doing.  Depending on your relationship, you may also ask if there’s a reason why they no longer come to you for their accounting.  You may receive valuable feedback or regain their business.

3. Take advantage of the recession.

Warren Buffet once said, “Be scared when everyone else is greedy, be greedy when everyone else is scared. “  Right now, everyone else is scared, and you can take advantage of their recession fears in ways you may not have realized.  Last month we ran an article that highlighted action steps you can take to increase your profitability in the midst of a recession.

4. Do first for yourself.

It’s your job to manage your clients’ finances.  If you’re a truly valuable and proactive accountant, you watch key indicators that will tell you whether or not their businesses are profitable and suggest ways to increase their bottom line.  It’s important that you do that for your own business as well.  Become your own profit expert and, using last year’s numbers, project this year’s earnings, looking for ways to increase your own profitability.

5. Set new goals.

Would you like to increase your client base this year, or perhaps, increase your service offerings?  Maybe you’d like to move your business out of your home and into a professional office space.  Whatever it is you’d like to accomplish, it’s important that you set and record these goals.  Then break them down into smaller, more manageable steps that you can take throughout the year.

6.    Schedule the month of January.

Now that you’ve set some new goals you can begin to schedule action items within the first month of the year.  What steps can you take to make your business faster, higher and stronger?

7. Educate yourself.

It’s a good practice to participate in some type of training at least once a year in order to hone your skills and maintain your competitive edge.  The New Year is a good time to consider what you would like to focus on this year.  We suggest Universal’s Professional Bookkeeper’s Guide (PBG) to QuickBooks.

The PBG 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 one simple click you can enhance your offerings and increase your bottom line. What a great way to start the New Year.  Order now!

5 Tips to Enjoying the Holidays

Christmas is not as much about opening our presents as opening our hearts. – Janice Maeditere

Blessed is the season which engages the whole world in a conspiracy of love! - Hamilton Wright Mabie

I will honor Christmas in my heart, and try to keep it all the year.  - Charles Dickens

We’ve talked a lot about prepping your business for the holidays.  Now is the time to sit back and relax.  What?  You’ve got too much to do to relax?

We understand and appreciate the stress that often accompanies the holiday season.  But if you don’t take time to enjoy your family and friends, and perhaps rest your weary head, your business may suffer in the end.  Here are 5 tips that will help you truly enjoy the holidays:

1. Clean your desk.

Not only will you enjoy returning to a clean office once the holidays are over, but clearing off your desk will let your mind know that you are taking a break from work.  It’s easier to enjoy the holidays when you’ve literally put work away for a bit.  If you don’t, you’re likely to visit your office and easily slip back to work because it was accessible.  Don’t give yourself that excuse.

2. Inform your clients.

It’s important that your clients know that you will be enjoying the holidays.  Create a new voicemail message that informs callers how long you will be away and what they might do in case of emergency.  You might also consider creating an automatic email responder that informs emailers of your absence as well.  Even Walmart is closed for Christmas; you shouldn’t feel bad about shutting down shop for the holidays.

3. Schedule time for your family and friends.

As they say, “Tis the season.”  Be sure to schedule quality time with family and friends.  Kids have recitals, friends throw parties, and families deserve a little quiet time.  Just as you would schedule important meetings with clients, be sure to write these events in your calendar and honor these appointments as best you can.

4. Indulge in personal time.

Whether you want to take a nap, get a massage, or read a novel, be sure to indulge in that much needed personal time.  When you take time for yourself, you’re able to return to work refreshed and invigorated.  Don’t feel guilty; schedule some “me” time.

5. Enjoy the moment.

Sometimes we get into the habit of thinking business 24/7.  It’s time to break that habit and enjoy the moment.  Whether you’re attending a family party, decorating the Christmas tree, or opening presents, you should fully enjoy the occassion.  Don’t let your mind wander back to your to-do lists, client roster, or year-end calculations.  You’ve scheduled this moment (see numbers 3 and 4), enjoy it!

You’re bound to get a present or two that doesn’t satisfy your needs.  Instead of exchanging those presents, why not get a full refund and spend the money on something found in Universal Accounting Center’s catalogue?  From training materials to business books to manuals to informative DVDs, we have something that will complete your holiday season and better prepare your business for the New Year.

This Year Give Yourself the Gift of Profitability

Who wouldn’t want the gift of profitability?  That’s probably even on Santa’s wish list.  A solid investment in yourself and your business would make a great present that may not fit in your stocking, but will definitely fill your bank account!  What’s the investment?

Every successful business thrives on three things: a service that’s in-demand, effective marketing, and complementary offerings.  Wouldn’t it be nice if you could find all these components in one package?  You can, and they’re all right here!

A Service that’s In-Demand

In order to run a successful practice you must offer a necessary and valuable service.  Small-business accounting is such a service.  By law, businesses are required to keep books.  Not only that, but many small businesses are in need of knowledgeable and skilled accountants who will perform that needed function and help them achieve greater profitability.

To appreciate the demand for small-business accountants, consult the US Department of Labor.  For years Universal Accounting Center (UAC) has proudly relayed previous reports that by 2008 accounting jobs would increase by 20%.  That great forecast has been extended to 2014!  They predict “Employment of accountants and auditors is expected to grow faster than average for all occupations through the year 2014. As the economy grows, the number of business establishments will increase, requiring more accountants and auditors to set up books, prepare taxes, and provide management advice.”  The future is bright for freelance accountants!

Universal’s Professional Bookkeeper Program will not only teach you small business accounting with a practical, hands-on approach, but it will enable you to earn a designation that evidences your skill and expertise, putting potential clients at ease.  The program covers four units which each take less than 15 hours to complete, all on your own time and at your own pace.  The units include:

• Accounting Made Easy
• Practical Small Business Application
• Advancing Your “Account-Ability”
• Building a Successful Accounting Service

In less than 60 hours you could complete all four modules and be on your way to a successful accounting practice with a certificate to hang on your office wall.  That’s much more appealing than 4 years on a university campus.

Effective Marketing

Regardless of how unmatched your services may be, you won’t have any clients unless you market effectively.  While accountants are good with numbers, they generally aren’t as comfortable promoting their services.

With over 25 years experience training professional like you, Universal Accounting Center knows how to market accounting services to small businesses!  Our Universal Practice Builder Program will arm you with the ability to accomplish the following:

• Become your area’s Profit and Growth Expert
• Produce 15 to 25 qualified leads per month
• Utilize 12 proven marketing strategies
• Practice effective marketing via phone, newsletter, and professional websites
• Practice tactical goal planning and setting
• Distribute a “Presentation DVD” to potential clients
• Prepare and present seminar training for three different instructional courses
• Use a CRM

In addition, this program is guaranteed to earn you $30,000 of additional annualized billings in just 12 months!  Talk about a risk-free investment!

Complementary Offerings

Successful practices continue to grow and generate profit when they offer complementary offerings their target market finds valuable.  You probably already know that Intuit’s QuickBooks is the accounting software used by more than 80% of small business owners.  Mastering this program will enable you to increase your offerings by providing QuickBooks setup and consultation services.  QuickBooks Made Profitable will teach you just how to use this program to draw and retain more clients to your accounting practice.  You’ll learn how to leverage your time while saving clients money in taxes and helping them increase their profitability as well.  Imagine how much this program alone could increase your bottom line.

So there you have it; a present that will brighter your future and make your practice more profitable.  Give yourself the gift that keeps on giving!  Order this amazing package today!

What You Should Focus on in December

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

1.    Wish your clients a Happy Holiday

2.    Send holiday cards

3.    Schedule employee vacation time

4.    Plan company celebrations early

5.    Get in the spirit

6.    Bring your website into the festivities

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

7. Practice seasonal marketing

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

8. Acknowledge your employees

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

9. Don’t offend

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

10. Schedule your time well

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

11. Balance your personal and business lives

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

12. Develop a New Year strategy

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

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

Building Your Business is a Great Strategy for the New Year

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

Professional Certification

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

Marketing Know-How

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

Enhanced Service Offerings

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

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

What You Should Focus on in December

December often comes before we realize it, and when caught unaware we can miss key opportunities to acquire new clients, secure more business, and create more loyalty with employees.  This season, take command of the holidays and make key preparations that will enable you to take advantage of this crucial time.  The following are six of 12 tips that will help your business become stronger through the stress of the holidays:

1. Wish your clients a Happy Holiday

Everyone likes a little gift for the holidays, regardless of what they may be celebrating.  Consider offering discounted services or a promotional offer that will appeal to clients.  Regardless of what you choose to do, it’s important that you acknowledge your customers during the holiday season.

2. Send holiday cards

This is a great way to promote your services while spreading a little holiday cheer.  Use this as an opportunity to share your mission and goals with current and prospective clients.  This is a great excuse to use direct-mail advertising in order to get the word out about your business.  As with your client gifts, including a promotional offer will often get your business the attention you desire.

3. Schedule employee vacation time

During this hectic time of year, it’s important that you be prepared for employee absences.  Secure a vacation schedule as soon as possible in order to prepare for any significant gaps in staff help.

4. Plan company celebrations early

Most businesses plan a dinner party or other such holiday celebration.  If you had planned on holding an office party, you need to begin preparations early in order to secure the necessary reservations, catering or room scheduling.  The sooner you begin the better.

5. Get in the spirit

Don’t be a Grinch!  Decorate your office for the holidays.  You don’t have to spend a lot of money in order to spread holiday cheer to walk-ins and employees alike.  Because the month promises to be busy, take care of this at the beginning of the month so you don’t have to worry about it later.

6. Bring your website into the festivities

Use your website to offer season’s greetings and promotional offers that may generate more traffic for your business.  If anything, your ability to maintain a clean, up-to-date website will impress all visitors.

Build Your Website, Now

If you don’t yet have a website for your business, now is the perfect time to launch one.  As you begin composing holiday mailings, what better way to get your website the exposure it needs by including the URL?  If you need help creating a website, Universal Accounting Center’s expanded and improved AccountWeb website development tool is available exclusively for accounting, tax, and bookkeeping professionals.  Within just a couple business days you can create a personalized website for your practice, enabling potential clients to access your business even after your office closes.  Whether you run a full-time accounting practice or do taxes on the side, you need a website that tells potential clients about your business even when you are unable to.  Order your subscription now-your website will be up and running in less than a week.  And if you are a Universal Accounting student you will receive a free six-month trial.  Sign up for your AccountWeb website now!

Take advantage of the holidays by practicing the 12 Days of Business.  Return next week when we’ll be covering the final six tips:

7.    Practice seasonal marketing

8.    Acknowledge your employees

9.    Bring your website into the festivities

10. Don’t offend

11. Schedule your time well

12. Balance your personal and business life

13. Develop a New Year strategy