19 ways to boost your cash flow

three jars of coinscut costs, find more cash for the busy season.

by sandi leyva
the accountant’s accelerator

could you use a bit of extra cash each month? i think most people would say yes.

more on small-firm growth strategies: ready for tax season? not so fast | prospects like a little wooing | is it time to reboot your practice? | 9 ways to boost your value (and your fees) | 5 ways a deadline can help close a deal | draw new clients in like a magnet | busy season survival tips: 5 ways to turn a tough day into a great one

here are 19 tips to start your new year with a little more green in your pocket. read more →

ready for tax season? not so fast

purple no. 4 billiard ball4 resolutions to keep as you prepare for busy season.

by sandi leyva
the accountant’s accelerator

i’ve worked with a lot of accountants who do not realize how valuable their skills are in the marketplace. most people can’t do what we do with numbers. we need to shake any self-limiting beliefs we have in this area because it limits our ability to serve more clients.

more on small-firm growth strategies: make your services an investment, not an expense | how a spreadsheet can help stop leaks | 9 ways to boost your value (and your fees) | 9 ways accountants throw away profits

if you were making resolutions for the accounting industry, what would you suggest? the first resolution i’d make is:
read more →

make your services an investment, not an expense

businessman holding idea light bulb; dollars passing through grow larger5 value-added service areas to suggest.

by sandi leyva
the accountant’s accelerator

every business needs to do some level of bookkeeping for a couple of reasons:

  1. various government agencies require reporting and payments based on the company’s results.
  2. the owner needs a certain amount of information to manage their business and keep it profitable.

more on small-firm growth strategies: want more clients? take these 5 steps | do you want to do compliance your whole career? | 7 ways to get new revenue from old clients | how to work the same hours and make more money | four ways to stop leaving money on the table

many business owners hire us grudgingly for compliance work because they have to. and they consider what they pay us as an overhead expense that is a required cost.

read more →

set fee by focusing on value first

hand moving triangle along beam to indicate balance between price and valuethe right time to talk about your fee is not as soon as a potential client calls.

by sandi leyva
the accountant’s accelerator

how do you talk to a prospect or client about your fee?

more on small-firm growth strategies: prospects like a little wooing | 9 ways to boost your value (and your fees) | two daily rituals: focus and measure | how to calculate your ‘opportunity number’

some of the answers i have heard are:

  • “it depends.”
  • “tell them and get off the phone as fast as possible.”
  • “i don’t know.”
  • “what is your budget?”

most accountants spill the beans about their rates way too early in a conversation with a future client. so when should you talk rates?

read more →

want more clients? take these 5 steps

5 steps to successwhy skipping ahead is costly.

by sandi leyva
the accountant’s accelerator

there are five simple steps to getting more clients. but guess what? most accountants make a big mistake along the way.

more on small-firm growth strategies: prospects like a little wooing | do you want to do compliance your whole career? | 5 skills to grow your practice | is it time to reboot your practice? | how a spreadsheet can help stop leaks | 3 ways to get to ‘yes’ with prospects | design your business around your strengths | two daily rituals: focus and measure | how to work the same hours and make more money

first, here are the five steps to get more clients:

read more →

prospects like a little wooing

surprised businesswoman with laptop7 ways to set yourself apart from the competition.

by sandi leyva
the accountant’s accelerator

as the competition for clients heats up, it’s time to pull out all the stops and make your prospect feel like you’ve rolled out the red carpet.

 

more on small-firm growth strategies: do you want to do compliance your whole career? | 5 skills to grow your practice | 3 ways to get to ‘yes’ with prospects | 5 cool ways to streamline data sharing | 3 tips for following up with prospects | if you don’t develop your business, who will? | 11 ways to add value for clients | 5 things you know that clients don’t | 8 must-haves for a prospect kit | if you’re a ‘best-kept secret’ cut it out!

how can you do that? here are seven ways to wow your prospect and help them decide you’re the perfect vendor for them.

read more →

do you want to do compliance your whole career?

stressif the answer is no, take these 6 steps.

by sandi leyva
the accountant’s accelerator

as compliance services become more commoditized and automated, accountants are faced with how this affects their practice and their bottom line.

more on small-firm growth strategies: 5 skills to grow your practice | how a spreadsheet can help stop leaks | 9 ways to boost your value (and your fees) | 3 ways to get to ‘yes’ with prospects | design your business around your strengths | 5 cool ways to streamline data sharing | how to calculate your ‘opportunity number’ | 5 ways a deadline can help close a deal | draw new clients in like a magnet | 5 things you know that clients don’t | 3 ways to test your revenue forecast | whip out the wow factor for clients | take advantage of 4 key marketing strategies  | four ways to stop leaving money on the table

they can:

  1. serve a higher level client that requires greater complexity, making themselves fairly immune to these changes
  2. serve a larger number of clients to offset a drop in revenue per client averages
  3. add new services to their practice to boost revenue per client

those are pretty much the options available to keep profits from shrinking. but today i want to focus on the third point above, adding new services, and provide you with some ideas on how you may be able to serve your tax compliance clients in new ways.

even if you don’t do taxes, you will find some ideas for new related services you can think about offering to your clients. (remember, it’s easier to sell to existing clients than to acquire new ones.)

read more →

5 skills to grow your practice

young businesswoman walking up green line on a graphlisten for your clients’ pain points.

by sandi leyva
the accountant’s accelerator

we’ve worked super-hard on gaining our accounting, tax and auditing skills. those skills alone will keep us working as employees for someone else, but what if we want to go out on our own or grow our business beyond what we have now?

more on small-firm growth strategies: is it time to reboot your practice? | 5 ways to get more referrals | how a spreadsheet can help stop leaks | 9 ways to boost your value (and your fees) | 3 ways to get to ‘yes’ with prospects | two daily rituals: focus and measure | 5 cool ways to streamline data sharing | 7 ways to get new revenue from old clients | 5 things you know that clients don’t

here are five skills to consider adding to your toolbox so you can get ahead faster. how do you rate in each of these areas?
read more →

is it time to reboot your practice?

man in suit pushing a restart button4 steps to turn things around.

by sandi leyva
the accountant’s accelerator

how does your current business look compared to the one you dreamed about before you started your entrepreneurial journey?

more on small-firm growth strategies: 5 ways to get more referrals | 9 ways to boost your value (and your fees) | 3 ways to get to ‘yes’ with prospects | 5 cures for the summertime blues | two daily rituals: focus and measure | how to calculate your ‘opportunity number’ | 9 ways accountants throw away profits | if you don’t develop your business, who will? | draw new clients in like a magnet | 9 ways to increase sales through ‘power networking’ | 3 ways to test your revenue forecast | whip out the wow factor for clients | how to work the same hours and make more money | take advantage of 4 key marketing strategies  | four ways to stop leaving money on the table

do you now have

  • clients you love,
  • a dream team,
  • the financial rewards you are comfortable with and
  • plenty of free time?

if not, don’t give up. you can still get there, and a little business clarity may help you get there even faster.

here are four steps:

read more →

your existing clients are your best leads

sandi leyva and michelle long
leyva and long

and the cheapest. bonus!

by sandi leyva and michelle long
the ultimate accounting virtual conference

i’d be willing to bet that almost all of you have clients who don’t know about a service you offer. and i bet they could use more of your help.

more small firm growth strategies: need more business? focus on referrals

when i was doing web designing, i’d get new business — new requests for work from the client — almost every time i sent out an invoice.  if i had been more proactive, i could have gotten a lot more work. so we have to make time in our business to look a little bit. for example, i could have reviewed the website and made some suggestions and generated more work for myself. you can do the same thing when you’re keeping books for clients.

read more →

5 ways to get more referrals

key to leads cloud shapethe first step is knowing who you want. (hint: it’s not “everyone.”)

by sandi leyva
the accountant’s accelerator

there are many great things about getting referrals. first, referrals have a built-in trust that helps you move through the sales process faster. second, there’s almost no marketing cost involved. third, they tend to make a better long-term client.

unfortunately, many business owners take a reactive approach to referrals, waiting until they come to them, rather than a more profitable approach, which is to proactively maximize referrals. here are five proactive ways to boost referrals:

more on small-firm growth strategies: 9 ways to boost your value (and your fees) | 3 ways to get to ‘yes’ with prospects | how to calculate your ‘opportunity number’ | 3 tips for following up with prospects | 5 ways a deadline can help close a deal | draw new clients in like a magnet | 3 ways to test your revenue forecast | 8 must-haves for a prospect kit | if you’re a ‘best-kept secret’ cut it out! | four ways to stop leaving money on the table

1. know who you want.

the first step may seem obvious, but it’s important to know what type of client you’d like to do business with. many business owners say “everyone.” but if you say that, the reaction is that people don’t know of anyone. it’s counterintuitive, but it’s far better to provide a narrow description of an ideal referral than it is to ask for any old name. when your friends hear the detailed description, they can search their personal black book to see if anyone meets that criteria. you’re far more likely to get one or two great matches with detailed information than you will asking for anyone.

read more →

how a spreadsheet can help stop leaks

money coming out of sink faucet and going down drainthree ways to capture lost revenue.

by sandi leyva
the accountant’s accelerator

there are dozens (and maybe hundreds) of ways your practice can leak money.

more on small-firm growth strategies: 9 ways to boost your value (and your fees) | 3 ways to get to ‘yes’ with prospects | 5 cures for the summertime blues | design your business around your strengths | two daily rituals: focus and measure | 5 cool ways to streamline data sharing | how to calculate your ‘opportunity number’ | 9 ways accountants throw away profits | 5 ways a deadline can help close a deal | 7 ways to get new revenue from old clients | 11 ways to add value for clients | 3 ways to test your revenue forecast | how to work the same hours and make more money | if you’re a ‘best-kept secret’ cut it out! | four ways to stop leaving money on the table

here are three ideas that are fairly simple to implement and may be some great goals for you to consider.

read more →

need more business? focus on referrals

sandi leyva and michelle long
leyva and long

a quick spreadsheet can show you where your money comes from now – and the best next targets.

by sandi leyva and michelle long
the ultimate accounting virtual conference

for those who need more business, boosting referrals is the cheapest way. so when we start to look at our marketing from a strategic standpoint, referrals is the channel we want to maximize.

if you’re thinking, “okay, how do i lower mymarketing cost? is that even an option? we spend a lot of time lowering our other expenses so why not lower our marketing costs?

there is an order on how to use marketing based on what is the most effective for professional services, and referrals is one of the cheapest ways we can add additional new clients without spending a lot of money on marketing.

start with a spreadsheet

read more →