Retirement Savings Motivation

While the information provided in this article doesn’t necessarily help you as an accountant or bookkeeper, I thought it would be valuable for you to know. Please let me know if you would like to have more articles of this type in the future.

Results from the 1998 Women’s Retirement Confidence Survey are both encouraging and discouraging. Major findings of the survey, which was conducted by the American Savings Education Council (ASEC), show that…

* Fifty-nine percent of women have saved for retirement, while 41 percent have not.

* Twenty percent of women are very confident about their retirement income prospects, while 40 percent are somewhat confident, and 31 percent are not confident at all.

* Among those women who are saving for retirement, only 30 percent are confident that they are investing their savings wisely.

* Sixty percent of women say that they have not figured out how much they need to save for retirement.

Why Women Don’t Save

While women cite many reasons for not saving for retirement, by far the most common reason is too many current financial responsibilities (67 percent). Other major reasons for not saving include uncertain economic events (30 percent), lack of retirement savings plan at work (26 percent), expectation of a pension (24 percent), lots of time remaining until retirement (23 percent), have not thought about it (21 percent), and retirement will work itself out when it comes (21 percent).

A smaller but significant number of women indicate that they have not saved for retirement because they can’t find investment information that is easy to understand
(19 percent), they don’t know where to start (19 percent), or they are not comfortable dealing with banks or other financial institutions (13 percent).

The ASEC points out that with interest compounding, a 25-year-old woman who begins saving $20 per week will accumulate a $132,000 nest egg over 35 years. For a woman aged 65, $132,000 could purchase an annuity for life of $870 per month or $10,440 per year.

The survey points up the need for more and better education for women about planning and saving for retirement. While many are saving, many still are not. What’s more, even those women who are saving need help–most have no idea how much they need to save, and many are not doing a good job of investing their savings.

Other Features From Today’s Newsletter:

• We Want You To Teach Us How to Improve
• First Impressions Do Count
• Give Clients Early Warning
• Show Me How to Make $80,000/year With My Own Accounting Service

Dare to Begin

“All Glory Comes From Daring to Begin”
-Anonymous

President Thomas Jefferson’s had the vision. But it was up to Meriweather Lewis and William Clark to make it happen. Their challenge: explore the Missouri River and find passage to the Pacific Ocean.

This presented a pretty daunting challenge over 200 years ago. Fortunately for the budding country, Lewis & Clark didn’t fear that challenge.

To prepare for the epic journey, Lewis studied everything he could on botany, celestial observation, zoology and medicine. He spared no effort to prepare for the journey that for several years would separate him from the comforts of home.

Suffering many hardships, Meriweather Lewis and William Clark finally made it to the Pacific Ocean. On November 7, 1805 they saw their first view of the rugged coastline of what is now Northern Oregon.

“Chance Does Nothing That Has Not Been Prepared Beforehand.”
-Alexis de Tocqueville

Like Lewis & Clark, our personal and professional success is not a matter of chance. It is a matter of preparation. What prevents you from preparing for the lifestyle you and your family deserve?

Don’t Let These 4 Obstacles Keep You From Your Dreams

1. You Need Specialized Skills and Knowledge- You might be thinking, “I’m not an accountant, can I really do this?” The answer is, yes. Whether or not you’ve ever worked in the accounting field before, here’s some good news. Universal Accounting’s Professional Bookkeeper Course fully prepares you with everything you need to know to do small business bookkeeping. In fact, you’ll become a small business bookkeeping expert.With all the tools and information to help business owners keep their businesses profitable, you will be a valuable asset to any business. If you don’t have previous experience in bookkeeping or accounting, you can still do this. With basic math skills, you have the building-blocks for a successful bookkeeping and accounting business.

   At Universal Accounting, we believe that hands-on learning is hands-down the best. With DVD and textbook instruction as well as practice sets of actual bookkeeping records, you’ll experience doing actual books for several small businesses during your course work. From a frame shop to a convenience store, you’ll have the skills to help any small business. From accounts payable and receivable to payroll, you’ll have the specialized skills to succeed.
   
   

2. You Need to Make an Investment in Time as Well as Money- Unlike Lewis & Clark, it won’t take several years to finish the Professional Bookkeeper Program. If you devote a couple of hours every night, you can be finished in as little as 4 weeks.And because you can reasonably expect to earn $30 to $60 per hour with the skills you’ll learn, the $1485 cost of the program quickly pays for itself. To make it simple and easy, we offer the option of purchasing the course with a credit card or with no-hassle student financing. In fact, if you can put as little as $145 on a credit card, you’re already approved.

   Whether you choose to pay for your course with a credit card or to finance, you’ll find the Professional Bookkeeper Course a great value. In all my searching for a better bookkeeping and accounting education, I haven’t found anything that even comes close to the value of the Professional Bookkeeper Program. Even franchise opportunities that can cost up to $80,000 just to get started don’t provide the training and real-world business knowledge the Professional Bookkeeper program provides.

   However, the real value of the course has nothing to do with what it costs. The real value is in it’s ability to create the income and lifestyle that you and your family want and deserve. Once you’ve completed the course, just follow the step-by-step marketing program to earn an aggressive income. Finally, get paid what you’re worth.

   What’s more, it only takes two hours or less per week to service a client, for which they’ll pay you $300 per month! So even if you are want a supplemental income, you can start small and and gradually increase how many clients you want to take over time. For many, once they have 10 clients, they make more in their part-time bookkeeping job than they do in their full time job. Then you get to decide, “Do I fire my boss now?” Keep your full-time job or really increase your income by building your business full-time, it’s up to you. And personal choice and freedom are the among the best benefits owning your own business has to offer you.

   Learn How to Make $35 to $60 Per Hour as a Part-Time Small Business Bookkeeper

3. Your Investment in Time Will Pay Big Dividends- Most of us feel like there just aren’t enough hours in the day. The Professional Bookkeeper Program will teach you everything you need to know to make the most of the time you spend servicing clients to generate the most income. By prioritizing your time and energies, you’ll not only be able to generate an enviable income. Most importantly, you’ll also have the time to enjoy it.Dedicate 60 hours to your future. That’s all it takes to complete the Professional Bookkeeper program. A huge advantage of distance learning is that you can learn at your own pace. By dedicating a couple of hours each night, you’ll finish in less than a month.

   According to the University of California at Berkeley, Americans spend about 3 hours every day watching Television. Learning the skills to earn $30 to $60 per hour might cut into some TV time for a few weeks, but the earning potential of this powerful business more than justifies this small sacrifice.

   Let’s talk about the potential to maximize your time and multiply your earnings for a minute. If you presently make less than $15 to $30 per hour, I’ve just introduced you to something that can double your income. What I’m really saying is you can either make twice as much as you do now or work half-time and make the same income you do now.

   Click Here to Learn How to Make More Money in Less Time

   The Professional Bookkeeper program not only teaches you the ins-and-outs of small business bookkeeping, it will teach you the most efficient ways to service your clients in the least amount of time. You’ll learn the tricks-of-the-trade experienced professional bookkeepers use to squeeze the most out of every minute. Tools like the Client Organizer help you and your clients streamline your workflow so you spend less hours working and more hours doing the things in life that are most important to you.

4. You Need to Walk the Walk if You’re Gonna’ Talk the Talk- We all know people who talk a good game, but when it comes time to actually do something, well… they don’t. Thomas Edison said, “Opportunity is missed by most people because it is dressed in overalls and looks like work.”If I told you building a your business won’t take a commitment on your part, you wouldn’t believe me anyway. You will need to be determined to make this a success. But you should know, you really can be successful at this business. I say this because I have seen it happen. If you haven’t looked at what some of our successful graduates have to say about the Professional Bookkeeper program yet, click HERE to see what this program has done for so many others.

   The Professional Bookkeeper program, unlike most distance learning courses available, is presented in an easy to understand and accessible way. With DVD instruction and hands-on learning activities, you’ll experience a perfect learning environment. We believe that hands-on learning is hands-down the best. That’s why as a part of the Professional Bookkeeper program, you’ll do a sample set of books for several small businesses. When you learn by doing, you retain the knowledge much better. Working with clients, you will find yourself saying, “I can do this. I’ve done it several times before.” Only this kind of practice gives you that level of confidence.

   But that’s only the beginning. As part of the Professional Bookkeeper program, you’ll have a personal coach to help with your questions and keep you motivated as you learn the nuts-and-bolts of small business bookkeeping and accounting. In fact, we measure our success by how successful you become. Of course, we can’t do it for you, but short of that, we’re here to help you every step of the way. In no time, you’ll become a small business bookkeeping and accounting expert.

Don’t Forget the Universal Accounting 100% Money Back Guarantee

I have never taken a college course that offered a guarantee. But Universal Accounting Center does.

Universal Accounting’s Ironclad 100% Money Back Guarantee

Purchase and complete the course, and if you don’t feel that you’ve received your money’s worth, you can return the materials and get a complete refund. All of us here at Universal Accounting are so confident that you will find this training to be of value that we all stand behind it, 100%.

So, What’s Holding You Back?

“All Glory Comes from Daring to Begin.”

There has never been a better time to start a professional bookkeeping and accounting service than right now. The Professional Bookkeeper program gives you the tools to teach you everything you need to know to make your business a success.

You really can experience the personal and professional rewards that come from owning your own bookkeeping and accounting practice. Let me show you how achievable, profitable and easy it really is.

A Great Deal On 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 clients 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.

If you are considering adding Tax Preparation and Planning to your Financial Services business at some point, you get a great price by purchasing both programs as a bundle.

Start Today!

The Professional Bookkeeper (PB) program consists of video instruction, practice books, and manuals.

In recent newsletters we have spoken about networking strategies and the need to update and maintain a date base as a platform for marketing activities.

Have you ever considered the value of your network of clients, contacts, suppliers and mentors? If you are the same as the majority of business owners, the answer is a resounding “no”.

Well - what is the value of your network. A simple “lots” answers this question. Our network has been developed and nurtured over a period of many years from an amazingly wide range of contacts.

Could you imagine conducting business without your network. To say the least it would be most difficult. People who commence business without the benefit of a network like yours can really suffer - one of the major benefits of purchasing a franchise business is the fact that it comes with its own built in network and there is no need to “re-invent the wheel”.

Once you begin to appreciate just how important your network is, you begin to realize that you should not only cherish it but also regularly communicate with members of your network and be on the lookout for additional members with whom you can conduct business or who can help you in other ways. Obviously this is a two way street and you should also be focussing on ways which you can be of assistance to members of your network without considering what they can do for you.

Your own network is the final outcome of all your networking activities and, as such, forms a vital part of your total marketing efforts. With this in mind it is something which should always be on your mind.

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

Other sections from this week’s newsletter:

• Success Begets Success
• Start a Part-Time Bookkeeping Service
• Growing Your Client’s Profit

Eight Time Management Secrets for the Accounting and Bookkeeping Home Business

You took the leap of faith and started your own Accounting / Bookkeeping business, and now you have enough clients to keep you busy for a long time. But you’re starting to wonder how you’ll keep up with it all, providing your clients with quality service while having that time to yourself you’ve always dreamed about. So how do you manage your business so that it doesn;t manage you? Here are eight time-saving tips to help you manage your business and recover your life.

1. Better Organize Your Home Office

If you’re like most people, you have wasted seconds, minutes, hours in precious work time hunting for that one invoice, file, or perhaps even the stapler. Your mother probably taught you that there’s a place for everything and everything should be in its place. That’s sound advice. If your office is well organized, you’ll waste little time hunting things down. While it may seem a daunting and time-consuming task at first, you’ll save yourself lots of time in the end if your organize your home office now (for more help on this, read our two articles: “Organizing Your Home Office Part I” and “Part II“).

2. Templatize

How many repetitive tasks do you do in one day? If you’re wasting time recreating the same documents or sending the same types of email, it’s time to standardize some of these tasks. Create form letters, standard documents, and redundant text for typical, lengthy emails. This should save you time, and because time is money in this business, you’ll be able to spend that saved time either making more money or enjoying what you’ve already made.

3. Punch The Clock

Okay, okay. So you quit your day-job so you wouldn’t have to punch the clock anymore. But the truth of the matter is if you don’t set your own hours and keep them, you’ll find yourself on the job 24/7. Generally, when working a 9 to 5 job you only work past five when there’s an emergency; do the same while working for yourself. Set some rules right now. For example: “I will work from 5AM to Noon, Monday through Friday and I will only work overtime when…” Be specific. Otherwise you’ll find that your work is managing you rather than the other way around. You’ll be amazed at how this will help you to work smarter. You may be wasting two hours everyday simply because you have them to waste. Also let your family know what your working hours are. If they know that you need to honor your business hours in order to honor family time, they’ll be more likely to give you the time and space you need (as long as your respect that time set aside for the family).

4. Plan Daily

The old adage goes, ” If you fail to plan, you plan to fail.” How true that is! Take a few minutes every morning to review your schedule and plan your day. Take a few minutes when you are wrapping up work in the evening to plan your next days activities. Whenever you do it, do it daily, this time will go far in helping you use your time more effectively.

5. Prioritize Tasks

Just last week I spent 5 hours on a project I felt strongly about, but when I looked over my accomplishments later, I realized I hadn’t finished a task that was more important and timely. When we don’t prioritize our tasks, we run the risk of putting a lot of effort into something that isn’t crucial. By planning daily you will be able to find that the prioritization gets easier to do.

6. Avoid Procrastination

Procrastination is the great time-killer. All of us have had our bouts with it one time or another. It would be interesting to count up all the time wasted simply by procrastinating the essential tasks. How much time and energy do we spend worrying about one of those important to-do items? How often do we distract ourselves with silly busy work that doesn’t get you anywhere? Stopping short of diabling the game of solitaire on your computer, you need to fight the urge to delay the “unpleasant” tasks of the job. Take a deep breath and procrastinate no more. Delve into the task as soon as you can, with the attitude that it is as pleasant as the most simplest of tasks. And it will soon become that.

7. Become a Speed Reader

We’re not kidding. Some of us are slow readers, and lots of time could be saved in learning how to locate significant data quickly. It also helps us to keep on top of information that is crucial to our success in the accoutning and bookkeeping profession. Just think of it, how much reading do we do each day? If we could cut our time we spend on that and still get the same benefit, why not work to gain that reading skill?

8. Log Interruptions

Everyone in business is interrupted countless time a day. Some of those interruptions help grow your business (like clients who call with work for you to do). But some interruptions are unecessary and counterproductive to the working environment. If these can be anticipated, and handled in a timely manner, you will have a step up from the rest who cannot. We would suggest for those who would want to be better at handling the interruptions of their day to take a small pad of paper and note each interruption for one week. Be sure you note the time, date, interrupter, and the subject of the interruption. Once you have the information, you can evaluate it. Which interruptions could have been avoided? Which were of no value? Perhaps you have someone calling you for information that you could teach them to find themselves? While the teaching moment may cost you an hour now, it may save you hours in the end.

We all need to be aware of our time and how we spend it. Money is time and time is money in what we do, and we would need to stay on top of those things that are keeping us away from making what we could if we were just that much more organized. If you are able to do that, then the time spent working is more effective (and profitable), the time spent on them is minimized, and you will be able to enjoy that free time doing what you want to do when you want to do it.

If you are looking to become trained as a Professional Bookkeeper, and be able to handle your time better with the time-saving tips contained in the training program, click here to find out more

Become a Professional Bookkeeper today.

24 hours a day… 7 days a week. How would you like to have a sales force that never sleeps, works 24 hours a day, never expects to be paid, and delivers your complete message without leaving anything out each and every time they meet with your clients? Any business owner would love to have such a tireless and faithful sales force.

You might be thinking to yourself, “;Who would be willing to work so hard and not expect to be paid?”;

You may find this hard to believe, but the tools to create this sales force are literally right at your fingertips.

Your Sales Force Can Use The Personal Approach

If I were to suggest “;direct mail”;, you might think only of those cheaply made 1/2 sheet fliers that you get with coupons. That couldn’t be further from what I’m talking about. The biggest mistake most business owners make is assuming that all direct mail is impersonal, cheesy and poorly crafted. That is not the case.

Over the past 25 or 30 years, the Wall Street Journal has used a very effective direct mail campaign to solicit new subscribers to their magazine. You may have even received a letter yourself. Over the years I’ve received a couple of them myself.

I’ve noticed that the letter has remained fundamentally the same each time I receive it. Why? Because it works. Isn’t it interesting that something most of us pass off as cheap and cheesy, the Wall Street Journal has used effectively for years? As we discuss the beauty of the “;sales force that never sleeps”; let’s talk about why what’s good for the Wall Street Journal will be just as effective for you.

Let’s take a look at why the letters from the Wall Street Journal work and the coupons you’ve seen before don’t:

1. They use a personal approach. They send a personal letter. Don’t make the mistake of dismissing this because it’s something as simple as a letter. The truly great marketing minds of the last 50 years will all tell you that a personal, finely crafted letter is one of the single most powerful selling tools in existence.
2. They use statistically proven methods to make sure their letter gets read. Believe it or not, the science to the “;direct mail”; sales letter has been tested and successfully demonstrated for years. They use these tested methods whether or not they personally would respond to them. Statistically substantiated methods prove far superior to acting as a “;focus group of one”; like many of us tend to do. How many times have you heard someone say, “;I wouldn’t read or respond to that!”.
3. They present their message in a concise and interesting manner. Nobody wants to waste time reading fluff… despite the fact that they send a 4+ page letter, they make sure that every word pushes the reader through the letter, the sales pitch and the close.
4. They unashamedly ask for the reader to subscribe. They make no excuse that the purpose of the letter is to gain your subscription. By presenting the benefits to you, the reader, they demonstrate the ability of the Journal to meet those needs and ask for your subscription. Their salesman always asks for the order at the end of every presentation.
5. They continually seek to test and improve. Like all great direct marketers, constant testing against this proven letter is required. Some of their potential subscribers get a modified letter to make sure that the letter they send out gets the best results possible. But they keep the tried and true. Why? Because it works.

Find New Clients, Reintroduce Yourself to Old Clients or Keep in Touch with Current Clients

The personal letter does all these things. You’re “;sales force that never sleeps”; multi-tasks and reaches out to all of your contacts. Remember, a personal, well crafted letter is one of the most powerful sales tools you can use.

You might say, “;I don’t see any other bookkeepers or accountants using a sales letter.”; That’s great. Using a sales method that others don’t in your particular market is a really smart move.

Universal’s Marketing Module Offers You Proven Sample Letters to Use with Your Clients and Prospective Clients

The Wall Street Journal uses a letter that has been tested and has proven itself over time. You can benefit from the same type of testing. Part of the Professional Bookkeeper Course offered exclusively by Universal Accounting includes a marketing module filled with tried and tested sales letters, presentations and contact ideas that have been successful for years.

No other program offers as complete an education in small business accounting as Universal. No other course offers the tools to ensure that you are successful. Learning everything you’ll need to know and providing you with tested and effective sales tools that you can start using today will ensure your success.

The need for professional bookkeeping and tax professionals has never been greater. In fact, the Bureau of Labor Statistics forecasts that the need will continue to increase for the foreseeable future. There has never been a better time to start your business as a skilled bookkeeper and tax professional.

You can build your Bookkeeping Practice by using methods proven effective. You don’t have to be a marketing genius. Universal Accounting has the tools that allow you to join the ranks of successful bookkeepers and tax professionals all over the country. People just like you and me who never considered themselves to be marketers before, but with tried and tested methods have discovered how truly simple a successful marketing effort can be.

The most complete education in accounting is one click away. Enroll now in this time-tested course that will not only train you in small business accounting, but enable you to effectively market these skills. Order now!

Are You Sabotaging Your Professional Image?

Positive or Negative Image

When we interact with clients and coworkers, what is their impression of us? We might like to think that they see us the way that we see ourselves, but often that is simply not the case. From how we dress to little habits that we have that we may not even notice ourselves, we each display aspects that others may read negative things into, whether accurately or not. What kinds of things might we be doing today that could harm our professional image? While the focus of the article below is on issues that we often relate to females, many of them apply to both genders to greater or lesser extent.

Inappropriate or Suggestive Dress

Inappropriate dress is one of the most obvious ways to undermine your credibility with potential clients. While this applies to both sexes, it is especially true for Women. Experts cite inappropriate television role models, fashion designers, and a lack of self-awareness as the causes of poor career-wear choices among women.

If the clothes that you wear are suggestive in nature, it cheapens your image, especially to female coworkers or clients. They may see you as not focused on business or that you want to get ahead by appealing to men in a sexual way. If female coworkers sense this in you, it may engender feelings of competition or resentment. Male coworkers or clients may get the wrong idea, that you are interested in them or again, that you are cheap. If they are attracted to you by the things that you wear, you create a distraction to the business that needs to get done. You may then have to deal with unwanted advances or other problems. Simply put, the business that you do for clients is complex enough without adding to it with interpersonal issues and potential conflict.

Speak too softly.

Some women speak but are not heard because they do not speak loudly enough. Speaking softly often conveys a lack of confidence in what you are saying. Your clients need to know that you are secure in your ability to do work for them. Those that are noticed are those that are often outspoken and convey that they have something meaningful to say.

Also, when you speak softly and are not heard, you create a laborsome conversation where a client must continually ask, “What did you say?” Even worse, your clients may misunderstand what it is that you are saying and come to incorrect conclusions. Misunderstandings will make you less effective and will often strain client relations.

Wear their hair too long.

Experts consider long hair too girlish and distracting. Long hair should be pulled back and off the face during the workday. It is said that well over half of the information that is conveyed in a conversation is done non-verbally through facial expressions and other non-verbal cues. If your face is partially hidden by your hairstyle, you reduce your ability to effectively communicate. Some people that are shy by nature wear long hair and let it hang down intentionally to obscure their facial expressions and to “hide”. You do not want any of these connotations to badly affect your professional image with clients.

Smile and giggle too much.

Many women don’t realize they smile and giggle as much as they do. It’s often a nervous habit, but it robs them of their credibility. You want to be seen as mature and businesslike, one who is in control of yourself and your emotions. You may find that others assume less intelligence than you actually posses because of stereotypes that we have all been exposed to.

Smiling too much or giggling may also give the impression to male clients that you are interested in them for more than business, no matter how innocent your motives might be. You may be seen as flirting with them or making advances.

Use nervous gestures.

Hair-twisting and hand wringing, for instance, are annoying to others, and send a negative message. They will be seen for what they are, indications that you are uncomfortable. When clients sense that you are uncomfortable, they will wonder whether you question your own skills and ability to do the work that they are paying you for. When you radiate confidence, it puts your clients at ease as well.

Apologize too much.

It’s important to acknowledge a genuine mistake, but it’s not appropriate to take responsibility for something that is not your fault. People with little confidence tend to apologize for things that are not their doing. You do not want to be associated with people with low self-confidence.

Conclusion

Whether we like to admit it or not, to a greater or lesser extent, we all take visual cues from others and relate them to those that we have worked with in the past. The mind is a giant association machine, so it is impossible to completely disassociate what we see now with what we have seen before. Knowing that others’ minds work in this way can be to our advantage. If we dress and conduct ourselves in a way that clients relate to very professional people that they have known in the past, we will leave a better impression and have a better working relationship.

Learn More Business Secrets that Work in Our Forum

The first goal of marketing is to get the word out about your product or service. Don’t fool yourself with the field of dreams myth that, “if you build it, they will come.”

The fact is, no matter how good your product or service is, until people know that you exist and have a service that solves their problems, nothing happens. Nothing bad happens, but nothing good either.

Get the Word Out

Continual networking boosts business and helps you become more widely known in your community. People tend to buy from those they know.

In networking, make it your goal to be known by many, the first step to increase the reach of your marketing efforts. Most networking groups don’t cost much more than the price of lunch to attend a meeting. They provide the ideal low-cost way to spread the word about your service in a low-pressure friendly setting.

Be Ready To Tell Potential Clients What You Do

Once you begin to pursue a networking strategy, it becomes obvious that you will be regularly asked that familiar question - “What do you do for a living?” It’s inevitable that this will happen, so it’s smart to always be prepared with an answer.

Benefits, Not Features

When asked what it is you do, this is an open invitation to explain the benefits of your service. Let me stress the word benefit. If you provide accounting and tax services and someone asks what you do, you could answer in a couple of ways:

1. “I enter payroll, bank, and sales transactions into their respective journals and prepare ledgers that summarize the data.”

In response one, the best you can hope for is that they won’t yawn during the explanation. Don’t describe what you DO, describe what you can do FOR THEM, as in:

1. “I help small businesses to identify areas where they can cut costs and increase profit margins through good accounting. I help them really understand their business finances and how to use that data to make profitable business decisions.”

Get right to the point. Answer the question for them, “Why do I care?” Why? Simple, I can help you make more money. I will show you how to make sense of your company’s financial data. I will make accounting easy to make business decisions based on data, not just gut instinct.

Your “30 Second Networking Commercial”

At networking events, you mingle with many other businesses and pass out a lot of business cards. You get one chance to make an impression and make sure your business card doesn’t just join the pile each contact already has.

Quick! You’ve got 30 seconds to describe who you are. You’ve got to be ready with an answer that gets attention and makes someone want to hear more. As in example 2. above, show what you can do for their business or that of someone they know. You will also add information about who you are and where you do business. This quick explanation of benefits in networking circles is called “your 30 second commercial”. If it’s good, it will help you get business. If you hesitate, the opportunity is lost and your contact moves on.

Keep It Short and Direct

No doubt you can recall innocently asking this question of another person, whom you have just met, and being forced to listen to a 10 minute diatribe in response. When the response is eventually complete you may be fortunate to remember a couple of the points covered but you will have forgotten it all within a few days (maybe hours).

To ensure that you don’t squander this opportunity to promote your business you should write down your commercial and then rehearse it until you have it word perfect.

How to Use Your 30 Second Chance To Make a First Impression

What do you include in your networking commercial? The most important things you need to cover are:

• your business’ name
• what services you offer
• benefits of using your service
• where you do business
• the type of clients you have

Example 30 Second Networking Commercial

It needn’t be lengthy. Below is an example of what you might use. Alter it to fit your personality and situation.

“I’m the owner of ______________________, a bookkeeping service right here in __________. I help business owners reduce their taxes, improve their profits, and manage their cash flow better. For instance, just recently I . . . (your own story in the remaining 20 seconds).”

Leave Something With the Contact

At the conclusion of your commercial there is the best opportunity to hand over your business card. If you did a good job creating interest in the first 30 seconds, your contact will likely ask you to elaborate on some of the points outlined in your commercial.

If your contact doesn’t appear to have a comment, don’t have to wait to be asked a question. Simply introduce your networking commercial into the conversation at the appropriate moment. With a bit of practice, it’s not difficult to determine when the moment is right. You’ll get a feel for it and be an old hand at networking in no time.

Use Your Commercial Early and Often

It’s time for you to start writing and rehearsing if you don’t already have your 30 second networking commercial. Make sure that you pique a contact’s interest right away to separate yourself from the crowd.

Make it a habit of looking for networking opportunities to use your 30 second commercial in. Don’t wait for a networking meeting, though they are a great place to prospect for clients. At the local florist, at the tire shop, and dozens of other times during the week, you interact with small business owners that need the services you have to offer.

Some find it useful to make it a goal to talk to 5 people each day about their service in informal, non-threatening conversations. If you are standing in line at the grocery store, strike up a conversation of some sort. You will be surprised how often you can find ways to mention what you do in casual conversation.

Realize that what you have to offer is an opportunity for small businesses to be more profitable. In a perfect world, they would be the ones trying to find you and, in fact, many already are. Small business owners know they have trouble with their own books. Once you show them that you can help them cut costs and make more money, THEY will be the ones asking the questions.

Effectively Market Your Service and Make Great Income

The Professional Bookkeeper Course devotes an entire module teaching you marketing strategies to quickly find paying clients. You will learn how to bill for your services and get $30 to $60 per hour and how to explain your services such that small businesses are glad to pay it.

Learn How the Marketing Module of the Professional Bookkeeper Program Teaches You To Make $30 to $60 Per Hour

You and Your Clients: True Business Partners

When you think of the term “business partnership,” you might imagine scenes of men and women in suits sitting around a boardroom table, signing papers and shaking hands. But that’s only one way a business partnership can be formed.

There are actually many types of partnerships in the business world, and one of the most important is the kind you build with the clients you work with every month.

You and Your Client Make a Team

Clients rely on the service you provide to do their own jobs effectively and accomplish their goals. You, in turn, rely on your clients to keep your practice strong with their loyalty. And isn’t mutual reliance what great partnerships are all about?

Any business relationship a client has with your company is a relationship with you. As their company grows, so might yours. So build strong partnerships with your clients by getting “down to business” and providing top-drawer service every day.

Make Your Clients More Profitable and They Will Do the Same For You

The Professional Bookkeeper program teaches you how to make your client companies improve their bottom line. By helping your clients get spending under control, paying their bills on time, and simply put, spending less than they make, you become the single most valuable person safeguarding the financial future of the company. When you supply decision-makers with clear, actionable financial information about their business, you ensure that you will keep that client for years.

At least as important is that when clients benefit from your great service, they talk. They will tell their business associates about their turnaround and your part in it. Word of your abilities will spread. When you service a client that has increased the profitability of their business, it becomes a very easy thing to ask for referrals. The great work that you will do will prove to be the best marketing that you do.

How To Increase Your Client Base In An Easy, Natural Way

Module 4 of the Professional Bookkeeper program, “Building a Successful Accounting Service”, teaches you how to sell your services in a low-pressure way and get clients quickly. Since each client that you service will give you an average of $300/month for the 6-8 hours that it takes to service them, getting a few extra clients makes all of the difference whether you are servicing clients full-time or part-time.

Learn How to Build a Successful Accounting Service With the Professional Bookkeeper Program

The hectic holiday season is tame compared to the financial Year End most accountants have to deal with. The year-end financial statements are the most important reports accountants issue. They are used for tax preparation, future reference, and decision making more so than any other monthly reports accountants prepare. For that reason you need to spend more time making sure you are correctly reflecting accurate information. But there are some things that can make it easier.

Accounting Software

Steven Cohen, managing director of Softline Pastel, says, “Yet, however intimidating this task may seem, automated accounting software applications have made the ordeal simpler, if a systematic method is followed. In addition, accounting software vendors are keenly aware of the stresses of Year End processing and accommodate clients by allowing them to proceed with the new financial year, while backdating audited financial adjustments on the previous year.”

With QuickBooks, the leading accounting software for small business, setting a closing-date will help with Year End accounting. QuickBooks also includes a Year-End Checklist to walk you through keys tasks. You can access this feature by clicking “help” and then choosing “Year-End Guide.”

Year-End Accounting Checklist

Sometimes it helps to have a checklist to follow in order to complete crucial Year-End Tasks. Here are a few things to ask yourself when doing your Year End financial statements.

• Does my general ledger bank balance reconcile to the bank statement?
• Are there any accounts receivables that are worthless and should be written off?
• Is my balance in Allowance for Bad Debts a reasonable estimate of potential write-offs?
• Is the company’s inventory balance correctly stated?
• Are there inventory items that cost more than they’re worth and should be written down to their market value?
• Does the company still have all the fixed assets?
• Is my depreciation correctly recorded for those fixed assets still in the company’s possession?
• Did I amortize goodwill and franchise fees?
• Are there any prepaid items that need to be adjusted such as prepaid insurance?
• Have all assets been reviewed for accuracy?
• Have we recorded all of our payables?
• Do the payroll tax liabilities coincide with our quarterly reports?
• Do the balances in the notes payable accounts (loans) agree with what the banks say we owe?
• Are there other debts that have not been included on the books?
• Are there debts on the books that no longer exist because of forgiveness or oversight?

Finally, the last step of the year-end process is to check your Sales, Cost, and Expense accounts. Compare them to prior years to see if any increase or decrease is reasonable. If you run across some significant changes, you may want to look at the general ledger for that account to ensure the entries are legitimate.

As you follow this year-end process you will be amazed at how much you learn. You’ll see trends and practices that will help you in consulting with the client and help him/her run their business more effectively.

Meeting with Client

Once you have completed this list, and before putting the books away for the year, make sure you run the financial statements by the owner/manager to identify anything you might not be aware of.

The best way to do this is to arrange a meeting where you can show them the completed financial statements and review the balances of each account, including the subsidiary ledger balances.

Throughout the review ask the question, “Do these balances seem reasonable?” At the end of the meeting ask, “Are there any other assets or liabilities that I haven’t included?” Occasionally, they might surprise you with an event that you didn’t have any knowledge of before, but that will affect your books.

In fact, often times the accountant will know more about the business finances than the owner. That’s why so many Universally trained accountants diversify into new businesses because they see opportunities going untapped.

Backup Year-End Data

Be sure to backup all current data before performing beginning your Year End financial reports. It’s also a good idea to print all financial reports prior to your Year End calculations. Once you complete Year End financial reports, backup that information as well. Label your files clearly to avoid confusion of the different files.

Universal Training Can Help with Year End and Other Accounting Functions

Universal’s Professional Bookkeeper Program can help you perform valuable accounting tasks for the small business. Whether you’re looking to improve your current accounting and bookkeeping business or whether you’re looking to start your own accounting firm, the PB Program is guaranteed to help! Don’t wait another day to advance your career. Visit Universal Accounting Center today!

Year-End Is Where the Fun Begins!

It’s That Time Again

It’s that time of year again when most businesses are closing their books. The business owners are either celebrating or licking their wounds. In any event, we as accountants usually have some clean-up and decision making to do.

January thru April is when we do our best work (and make the most money). We’re well fed from the holiday festivities, and anxious to tackle a new challenge.

Year-End Financial Statements

The year-end financial statements are the most important reports we issue. They will be used for tax preparation, future reference, and decision making more so than any other monthly reports we prepare.

For that reason we need to spend more time making sure we are correctly reflecting accurate information.

As a timely refresher we are providing a simple checklist of items that you should consider for each business you are working with when ensuring the accuracy of your year-end books:

Once you have completed this list, and before putting the books away for the year, make sure you run the financial statements by the owner/manager to identify anything you might not be aware of.

The best way to do this is to arrange a meeting where you can show them the completed financial statements and review the balances of each account, including the subsidiary ledger balances.

Throughout the review ask the question, “Do these balances seem reasonable?” At the end of the meeting ask, “Are there any other assets or liabilities that I haven’t included?” Occasionally, they might surprise you with an event that you didn’t have any knowledge of before, but that will effect your books.

Finally, the last step of the year-end process is to check your Sales, Cost, and Expense accounts. Compare them to prior years to see if any increase or decrease is reasonable. If you run across some significant changes, you may want to look at the general ledger for that account to ensure the entries are legitimate.

As you follow this year-end process you will be amazed at how much you learn. You’ll see trends and practices that will help you in consulting with the client and help him/her run their business more effectively.

In fact, often times the accountant will know more about the business finances than the owner. That’s why so many Universally trained accountants diversify into new businesses because they see opportunities going untapped.

So, this year, take the time and make the effort to be precise so that you can go into 2009 with reliable balances and peace of mind.

Year-End Accounting Checklist

• Does my general ledger bank balance reconcile to the bank statement?
• Are there any accounts receivables that are worthless and should be written off?
• Is my balance in Allowance for Bad Debts a reasonable estimate of potential writeoffs?
• Is the company’s inventory balance correctly stated?
• Are there inventory items that cost more than their worth and should be written down to their market value?
• Does the company still have all the fixed assets?
• Is my depreciation correctly recorded for those fixed assets still in the company’s possession?
• Did I amortize goodwill and franchise fees?
• Are there any prepaid items that need to be adjusted such as prepaid insurance?
• Have all assets been reviewed for accuracy?
• Have we recorded all of our payables?
• Do the payroll tax liabilities coincide with our quarterly reports?
• Do the balances in the notes payable accounts (loans) agree with what the banks say we owe?
• Are there other debts that have not been included on the books?
• Are there debts on the books that no longer exist because of forgiveness or oversight?

More Day-to-Day Accounting Tips

This Web site include many other Accounting and Bookkeeping tips to make servicing your clients less stressful and more profitable.

Click HERE to Learn More Tips