Different types of clients

By | 2008-05-31T07:47:06+00:00 May 31st, 2008|Uncategorized|

Your existing clients probably fall into three categories: Those who will never want you to do anything different from what you already do each year. Or would be unprepared to pay a decent fee for any additional services and advice. Those who have a need for specialist advice every now and then but are unaware

Accountants are very different to frogs

By | 2008-05-29T07:42:00+00:00 May 29th, 2008|Uncategorized|

A popular parable for the impact of change is that of a frog in a saucepan of water. If the water is heated slowly the frog doesn't really notice the temperature changing and is eventually boiled alive. (Sorry about the image). This is said to be in stark contrast to what would be the frog's

Is the way you describe yourself helping you to generate enough business?

By | 2008-05-27T07:44:41+00:00 May 27th, 2008|Business messaging and branding, STANDING OUT|

Last week I posed the question 'What makes your practice different?' Earlier in the year I posted a related item:What’s special about your firm - really? As a follow up from those posts I thought I would share some the differences I have noted as being highlighted by a number of the sole practitioners and smaller

What makes your practice different?

By | 2008-05-21T08:21:18+00:00 May 21st, 2008|Business messaging and branding|

Back in 2007 I wrote a chapter for a book (BusinesWise) to help Entrepreneurs on 'Finding, Choosing and Using an accountant'. I tried to ensure that this was more practical and real-world advice than that which appears on a variety of business and accountancy websites. I explained some of the ways that entrepreneurs could distinguish

Two years and 200 posts later

By | 2008-05-20T12:01:17+00:00 May 20th, 2008|Uncategorized, Useful links|

It seems to be customary to post anniversary notes on blogs - partly because it's quite an achievement to keep going for a decent length of time. I started this as a blog for 'Ambitious Professionals' in May 2006 after a new business contact suggested that it would be far more beneficial than a conventional

How’s business? (part two)

By | 2008-05-19T08:21:10+00:00 May 19th, 2008|Uncategorized|

In January 2007 I posted an item on this blog setting out the dangers inherent in a typical standard reply to the question: How's business? In essence I explained how lots of people inadvertently sabotage their prospects of securing work referrals and recommendations simply by answering this all too common question without adequate thought. Imply

How to increase sales (turnover)

By | 2008-05-14T07:10:53+00:00 May 14th, 2008|Uncategorized|

Last week I wrote a piece summarising the only six ways to increase profits. Ambitious professionals will be aware that profits are a much more important focus than turnover. Indeed a key adage in business is to keep in mind that: Turnover is vanity, Profit is sanity and CASH is king Nevertheless I thought I

What do clients say about you? (2)

By | 2008-05-12T07:58:05+00:00 May 12th, 2008|STANDING OUT|

Recently someone asked for a referral to an accountant on one of the business forums to which I contribute. Last week I shared what I was told when I asked what made one respondent comment that their accountant was 'great'. Someone else recommended their new accountant having said "I’m really impressed”. Here's what they said when

What do clients say about you? (1)

By | 2008-05-09T11:57:13+00:00 May 9th, 2008|STANDING OUT|

Recently someone asked for a referral to an accountant on one of the business forums to which I contribute. When I saw a respondent comment that their accountant was 'great', I asked them what made them say that? Here's the reply: He keeps things very straight forward in his explanations not that I have any

How do clients judge the quality of your service?

By | 2008-05-07T07:28:43+00:00 May 7th, 2008|Uncategorized|

Every ambitious accountant believes that they provide a 'quality' service. What are the elements of their approach that constitute 'quality' from a client's perception? Here's my summary. It's just my view so please add your comments to this posting if you'd like to suggest anything different: Reliability - You do what you say you'll do

Don’t just increase your fees, vary them

By | 2008-05-05T07:56:59+00:00 May 5th, 2008|Uncategorized|

Last week I mentioned that increasing fees for the annual work performed for clients is one of the ways to make more profits from your clients. I would encourage you though to go further than simply increase your standard hourly rates, client standing orders and 'service menu prices' by a fixed percentage. Most clients are

Getting paid faster

By | 2008-05-02T11:09:57+00:00 May 2nd, 2008|Uncategorized|

I mentioned in a recent blog that getting paid faster is one of the ways to make more profits from your clients. If you get paid faster it means you need less funding to keep the practice going, less finance to cover the gap between paying staff and getting paid by clients, and you ;pay

How to make more profits

By | 2008-05-01T07:10:24+00:00 May 1st, 2008|Uncategorized|

There are essentially just six ways in which you can make more profits as an accountant, or indeed as any professional adviser: Increase your charges – for doing the same work you have always done Increase the perceived value of what you do Speed up collection of your fees (and so reduce the funding costs