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5 Crucial Recommendations for a Business to Be Successful

Recommendations for your business to succeed

This post has recommendations for a business to be successful which you might overlook. If you’re an accounting professional who’s highly passionate about accurate financials, and enjoy every aspect of your practice, then this applies to you.

There’s something special about growing an accounting firm which is personally meaningful. You confidently provide a valuable service, you’re never bored and
your ideas challenge the status quo.

Since you genuinely care about your clients, you’re determined to give them exceptional service. Plus your work directly contributes to the overall economy.

Passion and responsibility

Along with passion comes responsibility. That’s because there’s always the risk of working on projects you initially think are right and which you find enjoyable. But when you take a closer look, you realize these projects don’t advance your firm.

That happens when they:

  • Aren’t as profitable as you thought.
  • Fail to add value to your clients.
  • Don’t attract new, high value clients.

Remember, you are the boss. The growth of your firm relies on you. As a growth minded accounting professionals, don’t settle for doing things as you’ve always done. Instead, consistently strive to improve your impact and effectiveness.

Continuously check to verify you’re growing in the right direction. As you know, sometimes client requests will lead you astray. Once you’re aware something’s not a fit for your firm, cut it loose to quickly get back on course.

Check out these recommendations for a business to be successful. These tips are especially for you – the passionate, energetic and determined accounting professional – to follow. They’re your guide to steadily advance your firm and remain on course.

Follow These 5 Recommendations for a Business to Be Successful

1. Talk to your clients.

I know many promising accounting professionals who work hard and play by the book. However they fail to make it in the long-run, because they don’t recognize the importance of this one tip.

Your firm exists because of your clients. Pay attention to them. Add this as a
reminder to the top of your daily to-do list.

Consistently reaching out to your potential, and current, clients is a game-changer. Talk to them. Discover where your potential high value clients hang out. Pay attention to their language. What concerns do they talk about and how do they express those concerns?

Follow this advanced move to quickly get their attention. Drop your industry lingo and talk their talk. For example, many of my clients don’t like selling. Instead of saying they don’t like selling, they tell me they don’t like to be salesy. Replace your industry terms with their phrases. This helps potential clients engage with your brand and products.

Discovering what works best takes time and effort. Do you know which social media sites your ideal client prefers? Social media is a great way to test your messaging. By doing that, you learn which messages get the best response. This is important because you’ll get a better response when you figure out how to communicate what’s valuable to them.

So I challenge you to reach out to your clients and talk to them this week. Don’t view this as an inconvenience or worry you are bothering them. They’ll happily answer your questions and be pleased you asked for their input.

2. Leverage your expertise.

Improve your expertise. This is one of the best ways to increase your income. Unfortunately, many accounting professionals forget about this business growth option.

Bookkeepers, tax advisors and CPA’s who are passionate about their work run the risk of giving away too much for free. This is a red flag that you’re under-pricing your services, undervaluing your time and struggling with low business confidence. You’re basically telling yourself, and your clients, that your service is not worth being paid for.

While having freebies and sharing your knowledge with potential clients is a fantastic way for them to learn how you can help them, you’ll want to set some limits.

Start to ask yourself how you can specialize. This allows you to do more of what you do best. Although it seems counter-intuitive, by narrowing your niche your firm can become more profitable. Explore where you can free your time by outsourcing some of your workload which doesn’t need to be done by you.

Be brutally honest about your special skills. My clients call their special skills their super power, since these are the things they perform best. It’s easier to educate others about your super powers when you recognize its value. Educating others is a sure way to become more trusted in your niche, gain authority, and attract more opportunities.

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3. Define your brand.

Do you already earn enough money to live a fulfilling lifestyle? Everything’s working fine and you don’t feel like growing. New potential clients consistently reach out to you from various referral sources. This is evidence that what you are doing is working.

Got it. As a price and profit coach for accounting professionals, I encourage you to consider the big picture and your branding. A well branded firm strategically helps you to rise above others in a crowded marketplace.

Change is constant. Maybe you’re doing well now. Do you possess a solid plan to ensure you’ll remain busy in a year from now? A solid brand keeps you, and your
accounting firm, top of mind.

Overall, your brand aligns with your core values. This influences your messaging and virtual presence. Review your site so every page consistently reflects your brand.
Tell your story and be authentic.

Your brand extends to your social media presence. Professional pictures are a powerful way to represent you and your firm. The details you share about yourself and your firm also establish your brand. How would your personality and your
values influence your brand?

4. Give people what they want.

Consider current trends – are you a follower or a rule breaker? Instead of following trends, determine what best serves your high value clients. It’s okay to be contrary to what’s currently popular.

To offer services your clients want (and thus making sure they come back to you and tell others about you), talk with your clients about their current needs. Know your high value client.

You’ll want to dedicate some time and resources. Market research, tracking behavior and surveys are common resources. They’re designed to identify the needs and
wants of your high value clients.

Once you gather this information, now what? You’ll want to analyze the results, fine tune the description of your high value client, and then use that information
to communicate your value.

5. You don’t need to reinvent the wheel.

Growth minded accounting professionals possess a strong vision about their firm’s success. Maybe you want to influence your industry standards or elevate the client experience. Well, what’s your strategy to achieve those results?

Raising the bar to challenge current standards involves risk. Especially since there’s no guarantee how your new approach will be received, or how long it will stay on top. So one popular strategy has you offer something which is already accepted. Then improve your offer so it’s better than the rest.

This might mean adding advisory services, educating about an easy solution to an already common problem or combining two seemingly impossible ideas to create something of high value. Consider what already exists and how you can improve that service or experience.

Business success boils down to a few things at the end of the day.

Work hard, remain on your path, take calculated risks and continually question your current methods. Know your value and your worth to avoid straying from your vision.

Follow these recommendations for a business to be successful, and grow while keeping your passion alive. Are you tired of doing work for free because you don’t know how to charge for it? Discover how to get paid what you are worth and attract high value clients to your accounting firm. Right NOW claim your FREE RESOURCE to grow your bank account while reducing your workload.

Consistently reaching out to your potential, and current, clients is a game-changer. Talk to them. Discover where your potential high value clients hang out. Pay attention to their language. What concerns do they talk about and how do they express those concerns?

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