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

Little Things Every Accountant Should Know

Photo by Razvan Chisu on Unsplash

Economic downtimes are tough time for everybody, not all businesses pull through a recession.

But do you know some businesses thrive and grow during a recession? Accountants fall in these group of ‘right’ businesses.

As an accountant, you may not experience the pain of other businesses and may in fact blossom if you incorporate the right strategies.

Here are some strategies you should consider:

Strategy 1 Spin a Podcast

People have to pay taxes and balance their checkbooks regardless of prevailing economic circumstances. What’s interesting is that, the need for financial sanity increases during tough economic times creating demand for expert advice.

A podcast reaching out to potential clients, sprinkled with valuable information helping to explain their financial needs, will market your presence to a receptive audience. A ready clientele that needs your services.

Strategy 2 Live Stream Q&A Marketing for Accountants

Many negative things happen during a recession for example, when a business is forced to file for bankruptcy, it’s advisable that the business owner consults an accountant for advice.

And it’s not all negative — when the government updates, expands, or regulates its Benefit programs during recessions, people want to know.

Talk about these things, help people understand the changes happening in their business and personal finances.

All you need is a form of digital presence. Go on a live stream video, offer free consulting services to your clients, answer your audience’s real time questions.

It is a great way to relate with your audience and grow a trusting relationship, that may turn out to be mutually beneficial.

Strategy 3 Write a Book

Okay, this may sound a little farfetched for guys who prefer locking themselves up to churn figures and chase endless streams of accounting paper trail.

But, if you can muscle enough will power to start your creative juices flowing and spin some lovely words into lovelier sentences, the kind that sing. And then build those sentences into book length paragraphs, — You are onto something, you will most likely experience an upsurge in your business.

A great number of people and small businesses need your professional advice about tax, tax benefits, and tax breaks. They want to know how to increase their income and manage their expenses in times of tight cash flow.

Help them by writing a book on a subject matter that’s is of interest to them. For instance, you can write a book about how to utilize tax benefits during recession Better still make it a free eBook downloadable from your website.

That’s free marketing to a clientele you would otherwise have spent thousands of advertising dollars getting through your door.

Strategy 4 — Identify Top Revenue-driving Activities

These last piece of advice is about housekeeping rather than marketing. Identify top revenue-driving activities in your business, and preserve only those areas that are profitable.

When you understand what’s working in your business, you will make informed decisions on such matters as budgeting, purchasing, staffing, and marketing. You will also prioritize key revenue components to create a sustainable framework that protects your business from imploding.

In conclusion, as an accountant, your business can still flourish in times of recession but only when you know what strategies to implement. Apply these four strategies and see your business blossom.

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