the entrepreneurial accountant

3 ways to plug your firm’s money leaks

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money coming out of sink faucet and going down drainit’s all about the daily processes.

by sandi smith leyva
the accountant’s accelerator

everyone is looking on the income statement to find places to cut their business expenses. but the best place to look is not on a report.

more on small-firm growth strategies: 7 ways to get new revenue from old clients | draw new clients in like a magnet | 11 ways to add value for clients | 9 ways to increase sales through ‘power networking’ | 5 things you know that clients don’t | 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! | busy season survival tips: 5 ways to turn a tough day into a great one | take advantage of 4 key marketing strategies  | four ways to stop leaving money on the table

it’s in the habits, processes and procedures that you and your team do through your workday. it’s also in the mindsets, the inner game you bring to your work.

here are my top three money leak sources for you to look at and see what you can find:

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7 ways to get new revenue from old clients

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two businessmen shaking hands at a restaurant tablea little tlc and they’ll never want to leave.

by sandi smith leyva
the accountant’s accelerator

it’s far less expensive to keep your existing clients happy than it is to find new clients, especially since the trust factor between people is at an all-time low.

more on small-firm growth strategies: draw new clients in like a magnet | 11 ways to add value for clients | 9 ways to increase sales through ‘power networking’ 3 ways to test your revenue forecast | 8 must-haves for a prospect kit | whip out the wow factor for clients | how to work the same hours and make more money | if you’re a ‘best-kept secret’ cut it out! | busy season surval tips: 5 ways to turn a tough day into a great one | four ways to stop leaving money on the table

so you might want to think about redirecting a portion of your marketing attention on your existing client base instead of networking for new clients. read more →

11 ways to add value for clients

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businessman standing outside the office on the phone with coffeedo these right and your revenues should benefit, too.

by sandi smith leyva
the accountant’s accelerator

as you build your relationships with your clients, it’s always a good thing to see how you can serve them even better.

here are 11 ways you can add value to your existing services that will enable you to stand out from the competition, serve the client better and put more green in your bank account.

more on small-firm growth strategies: 5 things you know that clients don’t | 3 ways to test your revenue forecast | 8 must-haves for a prospect kit | whip out the wow factor for clients | how to work the same hours and make more money | if you’re a ‘best-kept secret’ cut it out! | busy season surval tips: 5 ways to turn a tough day into a great one | take advantage of 4 key marketing strategies  | four ways to stop leaving money on the table

 as you go through the list, check them off to see which ones you are doing, and which ones sound good to add to your business.

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9 ways to increase sales through ‘power networking’

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confident businesswoman handing man a business card in networking sessionthese tips work for boosting referrals, too.

by sandi smith leyva
the accountant’s accelerator

networking is an essential part of building your business.

more on small-firm growth strategies: 5 things you know that clients don’t | 3 ways to test your revenue forecast | 8 must-haves for a prospect kit | whip out the wow factor for clients | how to work the same hours and make more money | if you’re a ‘best-kept secret’ cut it out! | 5 ways to turn a tough day into a great one | take advantage of 4 key marketing strategies  | four ways to stop leaving money on the table

whether you network locally, nationally or internationally, there are some tips that are common to all businesses: read more →

3 ways to test your revenue forecast

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hand drowning in money holeit comes down to what’s in your new client funnel.

by sandi smith leyva
the accountant’s accelerator

you may have heard about the marketing funnel before. there are lots of variations, and i want to cover it in a way that helps us examine our mix of products, services and prices.

more on small-firm growth strategies: 8 must-haves for a prospect kit | whip out the wow factor for clients | how to work the same hours and make more money | if you’re a ‘best-kept secret’ cut it out! | busy season surval tips: 5 ways to turn a tough day into a great one | take advantage of 4 key marketing strategies  | four ways to stop leaving money on the table

the funnel can be pictured like a big “v.”  at the top, wide-open part, there are a lot of prospects interested in your services and products. at the bottom, narrow part, there are a few select customers who buy the most from you. read more →

8 must-haves for a prospect kit

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businesswomen shaking hands and exchanging a folderand 10 ways to go beyond the expected.

by sandi smith leyva
the accountant’s accelerator

if you’ve spent any time at all in business talking with prospects on the phone or in person, then you probably have a list of benefits or advantages that you like to mention about your company to every prospect. you may have a very structured way of going about this, and you may not.

in any case, building a prospect kit will help you become even more consistent in the presentation of your company’s strong points to prospects. and, it’s absolutely essential as you move into larger and larger business deals.

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why accountants could be the happiest people on earth

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now or later keys shows delay deadlines and urgencynew research shows “givers” outpace others in life and in business. are you a “giver” or a “taker”? take the 10-minute test.

by hitendra patil
pransform

imagine that one of your clients calls you up and expresses his gratitude for the help you gave him.

you wonder: “i just gave him the balance sheet and told him that his business model needs some adjustments. i did what i have always done, so why is he thanking me so big? but, yeah, i do feel happy my client thanked me.”

more on entrepreneurial strategy: what if accounting firms were ‘apps?’ | top 10 entrepreneurial traits of successful accountants | four leadership strengths that define accountants | as block and liberty add accounting services, independents face 3 options | readers sound off on liberty, h& r block plans to launch bookkeeping services | threat or opportunity as h& r block, liberty jump into bookkeeping services? | six secret keys to the mind of the entrepreneur | 8 seconds into the future: meet generation z | 5 reasons gen y will make or break your firm

there is a huge new opportunity for accountants to reconnect with the real purpose of the profession, i.e.: becoming not just a trusted advisor for businesses and people but literally the “business strategist” for their clients. who else understands the “language of business” as well as accountants? read more →

how to work the same hours and make more money

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time is money : clock hands on $100 billsstart with these six strategies.

by sandi smith leyva
the accountant’s accelerator

when i worked in the corporate world, it was always great to get a raise. now that i am an entrepreneur, raises are replaced by increases in revenue and profits. more revenue and profits are nice, as long as we’re not working correspondingly more hours.

so how can we give ourselves a true raise: work the same amount of hours or less and make more? here are a few strategies for your consideration:

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if you’re a ‘best-kept secret’ cut it out!

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big businessman crushing a small one in his fingerstry these 6 ideas to stop losing business to competitors.

by sandi smith leyva

it’s rare that i lose business to competitors, and it’s also not an accident.

more: stuck at home right now? here’s 100 good ideas to relieve the stress | how to lead in a crisis | how to think straight through the coronavirus crisis | 16 tech tools for working through the coronavirus | 7 tips to keep the clients you have | do you know your opportunity number? | 7 tips to boost your firm’s performance | 5 mistakes to avoid when seeking new clients

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if you are losing business to your competitors, here are some strategies you can use to “become a category of one,” as they say in marketing.
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what if accounting firms were apps?

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smartphone12 ways the app phenomenon could change the way you think about your practice.

by hitendra patil

consider, for a moment, the new “app economy.” there are over a million apps in apple and google stores, with hundreds of them doing much the same thing in almost the same way. according to pew research, 90 percent of americans have cellphones and 67 percent find themselves checking their phones for messages, alerts or calls — even when they don’t notice their phones ringing or vibrating.

so, are accounting firms like apps already — offering the same services, same deliverables, same outcomes at the same or similar prices? if so, the only thing missing in the accounting marketplace is an “accounting services app store.”

more on entrepreneurial strategy: top 10 entrepreneurial traits of successful accountants | four leadership strengths that define accountants | as block and liberty add accounting services, independents face 3 options | readers sound off on liberty, h& r block plans to launch bookkeeping services | threat or opportunity as h& r block, liberty jump into bookkeeping services? | six secret keys to the mind of the entrepreneur | 8 seconds into the future: meet generation z | 5 reasons gen y will make or break your firm

wisdom tells us to “hang out where clients do.” yet, there are hardly any “accounting firm apps” on the app stores. read more →