9 ways accountants throw away profits

$50 bills in a wastebasketchecklist, plus how to fix your billing habits to compensate.

by sandi smith leyva
the accountant’s accelerator

a critical measure for accountants – whether they bill either by the hour or a fixed price – is the amount they bill clients each month. as anxious as many accountants are to raise their revenues, their daily activity often sabotages that goal with the same common billing mistakes.

more on small-firm growth strategies: 5 ways a deadline can help close a deal | if you don’t develop your business, who will? | 7 ways to get new revenue from old clients | draw new clients in like a magnet | 11 ways to add value for clients | 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!

here’s a checklist so you can compare your behavior with the list. i’ll give some tips on how to break the bad habit, and the rest will be up to you.

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5 ways a deadline can help close a deal

hourglass on money backgroundit might be just the push a client needs.

by sandi smith leyva
the accountant’s accelerator

in the accounting profession, there are a ton of deadlines. month-end, quarter-end and year-end. payroll taxes, sales taxes and corporate taxes. and extension deadlines, filing deadlines and payment deadlines, to name just a few.

more on small-firm growth strategies: mindset is key to marketing | become a millionaire in 3 steps | when your business card works against you | 10 ways to ruin a website | 4 steps to weather any economic storm | want to be stress-free? use your strengths | ‘time problems’ don’t exist | could you use more energy this tax season? | 15 items for your ‘business bucket list’ | 3 ways to plug your firm’s money leaks

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mindset is key to marketing

smiling businesswomaneven after years of experience, confidence may not come easy.

by sandi smith leyva
the accountant’s accelerator

in school, during both my undergraduate courses and my mba classes, i took marketing 101, or something close to that. i learned the four p’s: product, price, place and promotion. i aced the class.

more on small-firm growth strategies: when your business card works against you | 10 ways to ruin a website | 4 steps to weather any economic storm | want to be stress-free? use your strengths | ‘time problems’ don’t exist | could you use more energy this tax season? | 15 items for your ‘business bucket list’ | 3 ways to plug your firm’s money leaks

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become a millionaire in 3 steps

woman's hand pointing to three numbers for success stepsdump “nonprofit” tasks and focus on the high-value ones.

by sandi smith leyva
the accountant’s accelerator

let’s do the math. to earn a million dollars in a year, you have to bring in $83,333 per month. assuming you bill hourly and work for the standard 1,000 billable hours per year, you need to charge $1,000 per hour. if you want to make $5 million in one year, you will need to charge $5,000 per hour.

more on small-firm growth strategies: when your business card works against you | 10 ways to ruin a website | 4 steps to weather any economic storm | want to be stress-free? use your strengths | ‘time problems’ don’t exist | could you use more energy this tax season? | 15 items for your ‘business bucket list’ | 3 ways to plug your firm’s money leaks

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if you don’t develop your business, who will?

businessman working on laptop with wall of symbols scribbled behind him5 mistakes to avoid when seeking new clients.

by sandi smith leyva
the accountant’s accelerator

if you’re a sole practitioner or small-firm operator, you’re probably very good at what you do – or you wouldn’t be in business today. but when it comes to marketing and selling yourself, well, many of us didn’t voluntarily sign up for that part.

more on small-firm growth strategies: when your business card works against you | 10 ways to ruin a website | 4 steps to weather any economic storm | want to be stress-free? use your strengths | ‘time problems’ don’t exist | could you use more energy this tax season? | 15 items for your ‘business bucket list’ | 3 ways to plug your firm’s money leaks

as a matter of fact, some of us are resisting – kicking and screaming – marketing ourselves. so no wonder, for some of us, business is slow or not growing at the rate we’d like.

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when your business card works against you

woman and man exchanging business cardsare you making any of these 12 common errors?

by sandi smith leyva
the accountant’s accelerator

the lowly business card: we don’t give it a second thought before we get the thing printed up, and we just do what everyone else does.

many people, new in business, get the business cards printed before they’re really ready to, which causes many of the mistakes i list below. experienced or new, you’re missing huge opportunities to let your business card take some of the work off your shoulders. we may take it for granted, but i feel that your business card is one of your most important pieces of marketing collateral – and the most underutilized.

more on small-firm growth strategies: 10 ways to ruin a website | 4 steps to weather any economic storm | want to be stress-free? use your strengths | ‘time problems’ don’t exist | could you use more energy this tax season? | 15 items for your ‘business bucket list’ | 3 ways to plug your firm’s money leaks

here are my suggestions for how to get your business card working as hard as you do. if you want to play along, pull out your business card, and see if your card is guilty of any of these first four no-no’s. read more →

10 ways to ruin a website

target tomatoyou get 8 seconds to make a first impression. does your firm’s site measure up?

by sandi smith leyva
the accountant’s accelerator

you can indeed get more business, more clients and more profits from your website. but not if you make these common mistakes!

more on small-firm growth strategies: 4 steps to weather any economic storm | want to be stress-free? use your strengths | ‘time problems’ don’t exist | could you use more energy this tax season? | 15 items for your ‘business bucket list’ | 3 ways to plug your firm’s money leaks

whether creating a new site or updating your existing site, here are some common pitfalls to avoid.

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4 steps to weather any economic storm

woman pulls pack storm page and reveals sunset.and 3 to avoid.

by sandi smith leyva
the accountant’s accelerator

according to an article published in harvard business review, three scientists, ranjay gulati, nitin nohria, and franz wohlgezogen, conducted a study to discover the strategies that generated the most – and the least – profits in lean times.

more on small-firm growth strategies: want to be stress-free? use your strengths | ‘time problems’ don’t exist | could you use more energy this tax season? | 15 items for your ‘business bucket list’ | 3 ways to plug your firm’s money leaks

first, here’s a list of surefire ways to kill your business:
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want to be stress-free? use your strengths

woman tossing exclamation points into air24 ways you may be better than you think.

by sandi smith leyva
the accountant’s accelerator

how many times a day do we tell ourselves with the little voice in our head that we’re falling short of the ideal we have for ourselves? “i forgot to add the salt, so i ruined the recipe.” “i’m not good enough.” “i was mistaken.” “i’m not smart enough.” “i didn’t get picked for the finals.” “nobody likes me.” and so on.

more on small-firm growth strategies: could you use more energy this tax season? | 15 items for your ‘business bucket list’ | 3 ways to plug your firm’s money leaks | how to work the same hours and make more money

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‘time problems’ don’t exist

businessman hiding clock in his suit jacketmanagement problems do, though, and here are 3 solutions.

by sandi smith, cpa
accountant’s accelerator

i know it’s a bold statement and a lot of you will disagree. but please have an open mind and hear me out.

time is the great equalizer. we all have the same number of hours in a day, yet some entrepreneurs, many of them self-made, become wildly successful, while others languish. only one in 20 business owners in the u.s. (2002 numbers) make it past $1 million in annual revenues. i believe the way they use their time is a big factor in their success or failure.

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 | 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 | 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 | 15 items for your ‘business bucket list’ | 3 ways to plug your firm’s money leaks

here are three better explanations of your time problem:

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could you use more energy this tax season?

young businessman sleeping on the keyboard in the office10 habits to start now and keep all year.

by sandi smith leyva
the accountant’s accelerator

is keeping a high energy level a challenge for you? here are a few tips to revitalize your personal energy. some of these are very simple, so simple you may think they won’t do anything for you.

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’ | 15 items for your ‘business bucket list’ | 3 ways to plug your firm’s money leaks

as you read, check to see which ones have slipped from your current daily routine. in that way, you’ll discover how to change your routine to gain more energy.
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15 items for your ‘business bucket list’

a vintage wooden bucket with metal ring supports and a handle and a aged paper attached to the front that reads "bucket list"if you don’t dream big for your business, who will?

by sandi smith leyva
the accountant’s accelerator

do you have a business bucket list?

did you see the movie “the bucket list”? morgan freeman and jack nicholson played men who didn’t have too long to live. they each wrote up a bucket list, a list of things they wanted to do or accomplish before they kicked the bucket (as we say in the south).

why not apply the concept to your business? you can do this whether you have your own business or a job, although you have a bit more control when you’re the boss. what do you want to do before you retire or sell your business?

here are 15 ideas: read more →

3 ways to plug your firm’s money leaks

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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