Accounting and Bookkeeping Articles

The best morale exists when you never hear the word mentioned.  When you hear a lot of talk about it, it’s usually lousy. – Dwight Eisenhower

Moral is a state of mind.  It is steadfastness and courage and hope. – Louis L. Mann

Morale is self-esteem in action. – Avery Weisman

These days, morale may be the one thing that’s failing as much as the economy.  With long-term employment uncertainty, many are not unenthusiastic about their jobs and/or their employers.  And if you’re stressed about the economy and how it may impact your business, chances are your employees sense that and are on edge as a result.  All this will negatively influence your business and its ability to satisfy clients.

In this two-part series we will share 10 inexpensive tips that will help you boost employee morale.  Here we examine the first 5 tips:

1. Redesign the break room.

This doesn’t mean you have to hire an interior designer and refurbish your break room with leather furniture.  But you should consider ways to make it more inviting.  Can you paint it a brighter color, hang pictures on the wall, and add some greenery?  Perhaps you can outfit a refrigerator or cabinet with complimentary snacks.

2. Consider adding an exercise room.

If you have the space you may consider creating an exercise room that employees can use after hours or during their breaks.  Not only does exercise promote good feelings, but it will tell them that you care enough about them to invest in their health.  Look for discounted exercise equipment or, if you can’t yet afford that, fill the room with yoga mats and a couple exercise balls.

3. Promote community service.

I once had an employer that encouraged all employees to participate in community service twice a year.  One activity involved helping Habitat for Humanity build a home for a local family.  My employer paid for my time and it generated good feelings for both my community and my employer.  It also developed a sense of teamwork with coworkers.

4. Add Pizza Fridays to your schedule.

For very little money, you can spring for lunch one or two times a month.  Everyone likes free food, and the time employees spend together chatting while they eat will likely generate more positive feelings in the office.

5. Provide free professional seminars.

When you enable your employees to enhance their careers or their lifestyles, you can’t help but boost their morale and their feelings towards you as an employer.  There are many local professionals who would be happy to speak for free in order to promote their services (investment planning, stress relief, time management, etc.).

Boosting employee morale doesn’t have to break the bank.  With a little money, some creativity and thoughtful planning, you can provide your employees with valuable perks that will enhance their feelings about you and your business.

Return next week when we will share the final five tips on inexpensive ways to boost employee morale:

6.    Schedule a monthly movie date.

7.    Promote family parties.

8.    Provide free continental breakfasts.

9.    Award free car washes.

10. Consider providing free professional training.

Let Universal Complement Your Efforts

We all need a pick-me-up every now and then.  Universal Accounting Center has some exceptional speakers on staff who can motivate you and your team to excel.  With a number of individuals experienced in a variety of topics, they can help you better serve your clients, better market your practice, and better grow your wealth. It may be just the thing that will boost their spirits and encourage employee morale.  Learn more about Universal Accounting Center’s speaker and book one for your next event!

References

Mintzer, Rich. “20 Low-Cost Employee Perks.” 8 December 2006.  Entrepreneur.com

Stillman, Jessica.  “Six Low Cost Ways to Beat Google Envy.” 13 February 2009.  Bnet.com

The old adage claims you’ll find strength in numbers.  In these tough economic times, it helps to have solid business alliances with which you can grow your business and solidify its standing.  When you partner with other businesses, you have access to a professional support group that helps you garner more referrals, access experts in other fields, and take you business to the next level.  But before you align yourself with anyone, you should attend to the following three things:

1. Select organizations with compatible business objectives.

Like any relationship, you should choose a business that is compatible with yours.  Professions that correspond well with accounting include loan officers, checking representatives, financial planners, insurance representatives, lawyers, etc.  If you were the CEO of a large accounting firm then you would try to connect with leaders of organizations that complement your business’s size and prestige.  If you are a contract accountant with a handful of clients, then you would look to other small business owners or employees of like organizations.

It’s also important to ensure that your business objectives are similar.  For example, when you partner with an organization that values customer service, chances are you’ll receive referrals from individuals who expect to be treated well.

2. Ensure the partnership is well balanced.

Participating businesses should equally contribute to the alliance.  All should be willing to commit to regular meetings and efforts that benefit all involved.  Before agreeing to join an alliance you must ensure that all parties are ready for the commitment and involvement required.

3. Determine your alliance goals.

Once you’ve selected the participating businesses and verified the commitment of all parties, you can determine your alliance goals.  What are you bringing to the table?  Consider introductory services you could provide their clients at no cost: QuickBooks seminars, tax consultations, or business assessments.  All of these would benefit their clients while exposing them to your professional expertise.

You should also know, specifically, what you are looking for in return.  Do you just want a list of referrals or would you prefer a glowing, personal endorsement from the potential partner?  Unless you are specific in the terms of your alliance, one or more parties are likely to be disappointed with the relationship.

Universal Accounting Center Can Help You Promote Your Practice

Building profitable business alliances is just one way to grow your business by increasing your clientele with referrals.  In fact we teach you how to do just that, using a variety of proven methods, in our Universal Practice Builder Program, which is designed to train you how to promote your accounting practice. In fact, for over 25 years we’ve taught professionals like you how to grow their businesses and market their services to those who need them most. Also called Marketing on Steroids, here’s just a sampling of what you will gain from enrolling in the Universal Practice Builder 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

Student Testimonials

I now have tools I can really use to take my business to the next level from a marketing standpoint. The staff was great and had great ideas. – Michelle C.

A must attend seminar if you are serious about becoming an accountpreneur. We would highly recommend this seminar so you can learn how to work on your business not in your business. – Joe H.

Universal Accounting Center Can Help You Establish Your Practice’s Prestige

Enhance your business alliance with UAC by enrolling in our Professional Bookkeeper program!  Designed to teach you the day-to-day accounting functions required by small business, this course will give you the skills and the confidence to act as a Profit Expert while you manage your clients’ books.  Here are just a few things the PB course will provide:

• Practical and extensive training in small business accounting
• The opportunity to earn valuable certification as a Professional Bookkeeper
• DVD training materials you can review again and again
• Hands-on instruction that will provide you with experience setting up and managing small business accounts from scratch
• Flexible training that you can master on your own time and at your own pace
• 6 months of follow-up support provided by knowledgeable accounting professionals
• An iron-clad guarantee

Student Testimonials

I can honestly say that the hands-on training from Universal Accounting Center was far more helpful than that of my degree program. The training I received in you class was superb, exactly what I needed for the type of accounting business I was trying to start. I have been so pleased with the training I received from you, that my two part-time employees are currently taking your course. – S.A. Ivins

I learned a lot and it was a good investment in my future.- B. Stracher

With UAC’s iron-glad guarantee, you have nothing to lose.  Take advantage of UAC’s Power Package, and enroll in these powerful programs today!

Testimonials go a long way in creating a lasting impression on prospective clients.  They are memorable, versatile, reusable, and give you a competitive edge, not to mention that they build your credibility as an accountant.  How can you secure the best client testimonials and put them to good use?  Consider the following 4 tips:

1. Timing IS everything.

When a client is especially pleased with your work or has achieved a financial milestone as a direct result of your efforts, ask for a testimonial you could use in your marketing efforts.  Karen Klein addressed this topic in her Businessweek.com article entitled, “Happy Clients Spread the Love.”  There she quoted Linda Hamburger, owner of On Call PR in Deerfield Beach, Florida as saying, “Chances are, not only will they give permission, they might in turn feel complimented that you value their comments enough to use them.”

2. Get specific.

Chris Durban, a freelance translator in Paris who co-authored the “Fire Ant & Worker Bee” column for Translation Journal says, “Long and vague lists of ’satisfied clients’ with no specifics on actual jobs… may impress the naive but won’t cut much ice with demanding buyers.”  Make sure your testimonials speak to the specifics of what you do and how well you perform your services.

And to get the most bang for your testimonial buck, we suggest you ask current clients to be as prolific as they feel comfortable.  The longer (and more specific) the testimonial, the more flexible you can be with its use.  You can choose to run the full account in a brochure, mailing, or spotlight on your website.  Or you can use excerpts for completely different purposes.  The larger your reserve of expressive testimonials, the more varied and expansive their potential use.

3.    Be creative.

Now that you’ve secured a handful of client testimonials, it’s time that you used them.  Remember that testimonials are extremely valuable, especially when appealing to prospective clients that may not know you personally; they speak volumes of your credibility and worth as a financial professional.  Look for innovative and unusual ways to insert these testimonials into your current marketing efforts.  Can you dedicate a page of your website to client testimonials?  Which might work well in your print ads or flyers?  Could you use some in radio or television commercials?

4. Continue mining.

Once you’ve gotten a good portfolio of client testimonials, you must remember to continue mining for more.  Even a handful of good quotes can get old if you overuse them.  Building your collection of testimonials will ensure that you always have something worthwhile and inexpensive from which to draw.

Marketing to Build Your Practice

If you’re looking for more low-cost, high-impact marketing strategies, you should consider our Universal Practice Builder (UPB) program.  This turn-key marketing solution will enable you to grow your business with our proven system.   You could work for years on a marketing plan, hitting and missing, only to find your business growing at a snail’s pace.  Imagine learning which marketing strategies work in one, self-contained course.

Enhancing Your Professional Appeal

Add to the UPB the Professional Bookkeeper (PB) program and you have a failsafe approach to growing your business and your reputation (enabling you to secure even more of those client testimonials).  Not only will the PB course teach you how to accomplish daily small-business accounting tasks, but you will have the opportunity to earn professional certification!

Don’t Just Take Our Word for It

We’ll allow our student testimonials to speak of the true value of these programs:

“As an average for each client I am making about $30 – $50 an hour, I’ve been able to quit my full-time job. Thanks again to everyone at Universal Accounting Center! It has created for me a brighter outlook financially, as well as more free time in my personal life. And, I didn’t have to go to college for years and pay thousands of dollars for an education.” — S. Thomas (PB)

“UAC is the premier trainer of the accountants of the future. They truly understand how to differentiate their clients from the average accountants. To be honest, I don’t want anyone in my area to know about UAC. I think the information provided will truly separate my services from 95% of my competition.” – Magnus E. (UPB)

“I can honestly say that the hands-on training from Universal Accounting Center was far more helpful than that of my degree program. The training I received in you class was superb, exactly what I needed for the type of accounting business I was trying to start. I have been so pleased with the training I received from you, that my two part-time employees are currently taking your course.” - S.A. Ivins (PB)

“This seminar was the most inspirational seminar I have attended and I did not regret one minute. Hopefully, I can now implement on what I have learned to become successful.” – Lawrence A.

Learn more about this valuable opportunity to enhance your professionalism and your client base today!

References

Klein, Karen E.  “Happy Clients Spread the Love.” 31 October 2005.  Businessweek.com

10 Tips on Gaining Control of Your Emotions

“A man who is master of himself can end a sorrow as easily as he can invent a pleasure.  I don’t want to be at the mercy of my emotions.  I want to use them, to enjoy them, and to dominate them.” – Oscar Wilde

The truth is, if we don’t learn how to control our emotions they will eventually control us.  As business owners it’s important that we don’t let our feelings dominate our professional lives; nothing may be more detrimental to our success in difficult economic times.  In attempts to help us all better manage our emotions, last week we shared the following five valuable tips:

1.    Count to ten

2.    Take a deep breath

3.    Distance yourself

4.    Take a break

5.    Listen

In this second installment we will cover five more that will help you keep cool in difficult situations.

6. Determine the key trigger

It’s important to trace your emotion to its specific trigger.  You may think you’re upset over one thing only to discover that its cause is more personal than professional, more fleeting than flattening.  Only when you determine what’s truly causing the emotion can you take steps to alleviate it and address the core issue.

7. Stop focusing on the negative

When you’re upset, frustrated or angry it can be difficult not to stew about it.  Unfortunately stewing doesn’t make the situation any better; in fact, it can have the opposite effect, intensifying the problem until it becomes unmanageable.  What do we suggest?  “If you chance to meet a frown, do not let it stay.  Quickly turn it upside down and smile that frown away.”  Trite as it may sound, turning those negative emotions into positive ones can begin with a simple smile.  You may not feel like it at first, but this is one situation where you should definitely attempt to fake it ‘til you make it.  Turn those negative thoughts into positive ones and you might be surprised at how quickly the positive emotions will follow.

8. Vent

Sometimes it helps to let it all out.  While we don’t recommend venting to others in the office, you can share your frustrations with family or friends who can provide you with an objective perspective.  Sometimes expressing your feelings can be the first step in processing them and resolving the issue that triggered them in the first place.

9. Walk around the block

Talking a walk around the building or the block can accomplish a lot with one simple effort.  You’re able to distance yourself from the immediate situation while talking a breather.  The exercise will also release endorphins that will make you feel better sooner.  It may give you the energy and the wherewithal to tackle the problem upon your return.

10. Listen to soothing music

There’s no question that music can impact mood.  If you were to listen to a loud, pulsing beat when you’re angry, it will likely intensify your anger and worsen the situation.  However, if you listen to soothing music, it will take the edge off your emotions and give you the capacity to address problems in a more rational manner.

These tough economic times can put everyone on edge.  To better manage your emotions, it’s important that you take key steps to keep your cool.  Another suggestion we have for dealing with the recession is to learn key strategies that can help businesses, your own and your clients’, go from red to black in a short amount of time.  In fact, you may find that much of your business will come in the form of helping other small businesses regain their footing in the deepening recession.

Red to Black in 30 Days

You can use key accounting information to help turn a business around, becoming a valuable Profit Expert.  When you order Red to Black in 30 Days, you will have access to all the tools necessary to function as a Profit Expert and learn the Universal Project Management Model that will enable you to save failing businesses.   This book is a guideline for accountants and consultants who work with these disheartened small business owners.

Each chapter focuses on a crucial aspect of the turnaround process. Simple steps are outlined from initial contact through stabilization and profitable growth. This can be the guide through your first turnaround experience or it can enhance the accounting and management skills of even the seasoned accountant.  This is your opportunity to take the recession and make lemonade.  You may find that in offering turnaround services your business (and those of your clients) will be the few that thrive in these difficult financial times. For the cost of this one book you can enhance your value to current and prospective clients.  Order your copy now.

10 Tips on Gaining Control of Your Emotions

“If you’re in a bad situation, don’t worry; it’ll change. If you’re in a good situation, don’t worry; it’ll change.” – John A. Simone Sr.

You’re guaranteed to experience ups and downs in your business.  As an entrepreneur you’re probably already well aware of this fact.  You have also probably learned that it’s not always the problem itself that causes the most difficulty, but often it’s how you react to the problem that matters most.  In this two-part series we will examine how you can keep your cool when confronting conflict, panic, or just about any other negative feeling.  This week we will cover the first five of ten tips in gaining control of your emotions.

1. Count to ten

The reason why you’ve heard this advice so much before is because it works.  Anger management experts continually advise individuals to count to ten when experiencing frustration because it provides them with two key elements in managing difficult emotions: time and distraction.

2. Take a deep breath

Regular deep breathing slows down the heart, releases tension in the muscles, and lowers blood pressure.  All these things will positively impact your physical and mental health.  The immediate benefit, however, is that it can enable you to calm down and gain necessary perspective.

3. Distance yourself

If you’re angry or upset the best thing to do is distance yourself from the situation for awhile.  This may require you to reschedule a meeting, take an early lunch break, or postpone an email response.  Physically distancing yourself from a difficult situation now will enable you to gain a more balanced perspective later.

4. Take a break

Perhaps you are just too stressed to deal well with anything right now.  In this case you might consider doing something completely unrelated, such as seeing a movie, visiting with friends, or going shopping.  The distraction will help you to remember that there are other things in life that you enjoy.  You will also feel more balanced and relaxed as a result.

5. Listen

If you’re experiencing conflict with a client or colleague, it may be best for you to refrain from talking in order to gain control of your emotions.  This may require you to listen to another’s complaints or concerns.  When doing so, try to remain as calm as possible (remember that deep breathing!).  You may find that in allowing someone else the opportunity to express themselves, you will better understand their concerns and can move forward more reasonably.

Maintaining your cool in difficult situations is just one thing required of the successful entrepreneur.  And you may be required to control your emotions more in these times of economic uncertainty.  Taking action to increase your profitability is another great way to de-stress and enhance your ability to deal with difficulty.

Are You In the Black?

Designed specifically for the small business, this book contains 9 practical principles that will enable you to improve your business’s profitability.  And you don’t have to wait to complete the book before you can start applying these principles.  Working from personal experience and the experience of his father, President and CEO of Universal Accounting Center, Allen Bostrom, shares tips proven in countless businesses just like your own.  If you would like to run a more synchronized practice where all three business functions (accounting, marketing, and production) work together, this is the book for you.  See why In the Black has enabled countless small business owners to gain control of their businesses while helping their clients do the same.  Enjoy greater profitability and order your copy today!

Join us next week when we’ll examine the final five tips in keeping your cool in difficult situations.

6.    Determine the key trigger

7.    Stop focusing on the negative

8.    Vent

9.    Walk around the block

10. Listen to soothing music