4 Effortless ways (proven) You Can Build a Successful Accounting Business

These Easy to implement Strategies Work for Any Business

Photo by Christina @ wocintechchat.com on Unsplash

Building a successful accounting business or any other business takes work, tons of hard work.

In a fast paced world, laden with emails, projects, meetings, new easy to do apps, business travels and screaming social media notifications, who wants more workload? No one.

But everyone wants to grow their business especially Accountants. I am one of them and I know. We all want business, more of it; we just don’t know how to get it.

Now, that got me thinking, then reading, then researching, being mentored, then going back to researching. And then, I got to doing, and, it worked, business started flowing!

But first things first, how desperately do you want to see your business grow?

That matters, because you have to take the plunge, you must dive into the deep end of doing, with proven strategies of course.

These four easy strategies worked for me. They will work for you, but you must first get your hands off the grind and pull the lever.

Strategy #1: Understand the 80/20 Rule

We’ve all heard of the Pareto Principle, but here is how you didn’t know it can apply to your accounting business.

This is how it works, get your head out of the business, soar over the firm with an eagle’s eye, all those activities, 100% of them are not giving you value, that’s just the reality.

Because according to Pareto, 80% of positive outcomes come from 20% of your inputs.

Zero into that 20%.

What’s the most critical 20% — Work you and your team are doing that has an impact on your business. In other words, where is the cash flowing from?

Create value around these activities, prioritize your engagements and focus on fattening your cash cows. That may include taking inventory of all results you deliver to your clients and cutting down any unnecessary steps in processes.

Strategy #2: Hone into Your Ideal Customers

Niching down doesn’t sound accounting like. But trust me it’s important that you focus on a niche.

Tailoring your services for startups, or focusing on forensic accounting is far more effective than trying to build an accounting business for everyone.

An expanded market offering throws you into a vast sea of competition, and it’s not a guarantee your business will grow.

Looking at the 80/20 rule which areas of your business — where you already have a presence -should you specialize?

When you specialize, you differentiate from your competitors and stand out to a more specific sub-group, you become the ideal accounting firm for them.

Strategy #3: Build Your Personal Brand

People buy people, and we all have unique personality traits.

Build on your strengths to create an unforgettable personal brand.

What sets you apart from everyone else? You will need to understand your goals and why you want to build and strengthen your brand. Once you’ve clearly defined your goals, the next step is to prioritize the most effective techniques to get you there.

Here are some resourceful ways you can use to build your personal brand;

· Be intentional and strategicCommit to a few ways you can build your personal brand, and make a conscious plan and effort towards achieving the goals you’ve set.

· Know your audienceTake the time to deeply understand your clients, where they spend their time online and their needs.

· Be honest to yourselfFollow your innate strengths and interests. For instance, if you’re a skilled writer, play to your strengths and start a blog. Or if you have a knack for public speaking, get in front of as many people as you can.

Start with what comes naturally to you- that’s how you’ll build your brand and get noticed.

Strategy #4: Start Small, Stay Focused

These is for new businesses or anyone thinking of setting up an accounting firm.

When you start small you have the chance to offer superior and quality accounting services to your clients. Additionally, you can Invest time to create good relationships that go above and beyond what clients which is good for business.

Later on you if you feel the urge to expand your business, you can eventually scale up and hire new accountants to help you handle additional accounts.

But offering quality services should be your priority. You can only achieve this when you start small. This is how you build your firm’s identity.

There’s much you can squeeze into a blog post. These strategies, aren’t the only ones that work, I promised to post an article every week and I will.

If you didn’t read last week’s article, you can read it here:

If your Accounting business has hit a dead end, here is what you should do






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