MARKETING & SALES

Bissett Bullet: Saving for a Rainy Day

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Today’s Bissett Bullet: “Debt leverage is a very risky business, especially for smaller firms. I appreciate that it’s not always avoidable, but proactively planning and saving for a rainy day is a far better strategy.”

By Martin Bissett

In an ideal world, if the unexpected occurs and you need to draw on an emergency fund, you turn to your cash reserves, the money you have saved to allow you to continue drawing from your business in the event of a temporary shortfall in income. When the COVID-19 pandemic hit in 2020, those businesses with a three- to six-month reserve saved for a rainy day found that it didn’t rain quite so hard as it might have done.

The lesson? Be financially wise. Treat the funds in your business as sacred and plan for the unknown. You will sail through whatever emergencies come your way without accumulating debt to repay.

Today’s To-Do:

How much can you reasonably afford to save each month to build your rainy day fund? Plan to start doing so immediately.

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Four Benefits of Progress Billing

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smiling man working at laptop in office with glass walls

How to set up your system, starting with progress reports.

By August Aquila
MAX: Maximize Productivity, Profitability and Client Retention

There are many things that are critical for a successful client service engagement. In my mind, there are two that should be at the top of your list. Number one is providing the client with a progress report or reports. Number two is making sure that you progress bill and provide a change order if the scope of the engagement changes. Doing both ensures that you will have a happy client and get paid promptly for your services.

MORE by August J. Aquila
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Progress reports are an essential tool for professional services firms, and they keep the client informed about the status of the engagement. They also serve to help you communicate with the client, especially when there are changes in the scope of the engagement. They also help clients keep track of their projects and ensure that they are on track to meet their goals.
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Five Ways to Make Your Services an Investment, Not an Expense

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Businessman holding idea light bulb; dollars passing through grow larger

Put your problem-solving skills to use.

By Sandi Leyva
The Complete Guide to Marketing for Tax & Accounting Firms

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 by Sandi Leyva
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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.

But what if we could turn that perception around?
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Bissett Bullet: What Exactly Does an Accountant Do?

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Today’s Bissett Bullet: “Framing the conversation is a tremendously useful way of focusing a prospect on what the meeting is about.”

By Martin Bissett

When a prospective client walks into the first meeting with you, they think they know about accountants. In reality, they know a little bit about what their current accountant does and will measure you with the same stick. If you can do more for them, you need to educate them. Framing the conversation for a commercially minded business owner in terms of the outcomes you can achieve will help them to understand the true value of what you bring to their firm.

Explain that the purpose of the meeting is to find out all about them, but that you appreciate that they probably want to know more about you, too. Tell them about the business owner who you enabled to pay for their first vacation in years. About the client whose dream of early retirement was realized. Leave them with those stories spinning in their heads.

Today’s To-Do:

Every firm has resounding success stories, but very few leverage them to get across a sense of who they are. Find two or three relevant outcomes for clients of a similar size or sector for your next prospect meeting.

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Put Trade Shows to Work for Your Marketing

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woman holding tablet and smiling, talking to man at trade show

They can be great tools but you have to use them properly.

By August Aquila
MAX: Maximize Productivity, Profitability and Client Retention

Trade shows have once again become popular since the end of the COVID-19 pandemic. They are great marketing opportunities, but you need to know how to work them. I recently attended a trade show, and it amazed me how “un-marketing” many of the people behind the booths were. What a waste of time and money for their companies!

MORE by August J. Aquila
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Just like any other marketing activity, you need to know how it works to make it work for you. Here are seven benefits and eight tips for trade show marketing.
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