By Ed Mendlowitz “Tax Season Opportunity Guide“ Question: A client owes me a very large amount of money and seems to be giving me a runaround and I need to get the check quickly. The client has the cash, so that is not an issue. Do you have any suggestions? Answer: Offer him a discount for immediate payment and tell him you will send a messenger to pick up the check, or he could deposit it in the firm’s account. P.S.: The client paid the bill depositing it in the firm’s account, and faxed the deposit slip to the accountant later that afternoon.
By Sandi Smith Leyva, CPA Accountant’s Accelerator Except for the usual tax due dates, this time of year can be slow for some accounting firms and especially some tax firms. But it doesn’t have to be if you know what to do. Here are three ideas you can use to boost your revenue, not just this month, but all year long.
By Hitendra Patil Pransform Celebrity Author Anthony “Tony” Robbins identified six fundamental human needs that everyone has in common, and states that all behavior is simply an attempt to meet those six needs. These Six Human Needs are Certainty, Uncertainty/Variety, Significance, Connection/Love, Growth and Contribution. As an accounting services provider, if you can identify the ways to meet these six needs of your clients (and your staff), if you can recurrently and consistently do things that lead to clients (and your staff) actually experiencing the satisfaction of these needs, you are more likely to improve your firm’s performance. The question to ask is, “WHAT should I do to ensure that my services/products fulfill these needs of my clients?” For now, […]
The science behind happy customers. By Hitendra Patil Pransform Inc. In “The 9 Building Blocks of a Winning Vision that the Big Four Have Discovered,” August J. Aquila and Robert J. Lees brought out the common vision elements of Big Four firms. And one of them is “put the best people at our clients’ disposal.” It’s NOT common sense! It’s actually human behavioral science. You will be surprised to know how this works at a much deeper level than you think.
Download the sample client satisfaction survey. by Ed Mendlowitz Question: Is there any value to sending clients a survey? Response: Yes. Our firm sends a survey with every deliverable to a client. We want to know what they think and how they feel about our service. I think your best friends are the clients that complain. This gives you an opportunity to correct any deficiencies or exceptions. One time a long time very good client put on the survey that we were great but our fees were high. I immediately met with him, reviewed our charges, had the time runs and details of everything extra we had been doing beyond the scope of our engagement, and the value to the […]
Beat the billable hour by doing more than just taxes or QuickBooks. By Sandi Smith, CPA Accountant’s Accelerator As compliance services become more commoditized and automated, accountants are faced with how this affects their practice and their bottom line. They can: Serve a higher level client that requires greater complexity, making themselves fairly immune to these changes Serve a larger number of clients to offset a drop in revenue per client averages 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 […]
Question: I am on the board of directors and am treasurer of a not for profit organization. One of the board members is an officer of a commercial bank where we have our accounts. The organization wants to get a one-year CD with some excess funds they have. It turns out that the interest rate is less than half of what we could get from a local savings bank. I suggested that we open the CD in the savings bank and the bank officer got very agitated and threatened to cut off the bank’s support of the organization if we did not keep the funds in his bank. The bank is a substantial contributor to the organization, and I […]