10. Be willing to admit that not all potential clients are good clients, be willing to part ways with a client when it is better for both parties. When we first started we took everyone we could find as clients. Red flags we ignored always came back to burn us in the end. Listen to your intuition. You want clients that VALUE your service/product the same way you view it.
This is a list of things that have helped us, at All Star Accounting, increase our productivity and profits. From day one, we knew that we wanted to build a world class business that would run successfully with out us having to micromanage. Think big while keeping it simple!
1. Embrace technology, lose paper. We use services such as flipdrive.com, mailchimp.com, quickbooks online, trustfax.com and Google Voice. We take advantage of social media sites (FB, twitter, blogs, LinkedIn, onlywire.com, online calendars etc).
2. Accessibility from anywhere with internet connection to books and other files. Ebooks for education and reference, contracts, agreements, company documents (everything is scanned and uploaded), letterhead and applications.
3. Plan from the beginning to scale up business, ensuring profitability. THINK BIG! We knew that once our first model worked, we would be able to expand in DC (our first location) and across the nation.
4. Keep the business model simple. We started our business to help clients with their bookkeeping. From the beginning we were in sync with our business structure and goals. Our motto is to keep it simple!
5. Focus on the clients who bring business and pay on time with limited issues/problems.. If you see a pattern of a client not paying on time, always complaining about unwarranted issues, wasting your time.. it might be time to move on. The time you spend babysitting problem clients is time you could be spending networking and bringing on quality clients.
6. Avoid complications of employees and micromanaging by partnering with independent contractors. We chose to work with independent contracts to avoid micromanaging. It also keeps costs down (health benefits, payroll taxes etc).
7. Planning beyond weeks and months. We started with long term goals. THINK BIG! Initial procedures and polices need to be reviewed on a regular basis as you grow.
8. Clear goals and ideas, no ambiguity, admit that profit is good. Lots of brainstorming meetings, goal setting, ideas of how to expand and make us run smoother. We are in business to make money and we are not going any where anytime soon.
9. Respond quickly to client needs, keep bookkeepers accountable to their work with logs and time sheets. By not responding in a timely fashion, this gives your clients time to wonder if you are the right fit. To stand above the competition we concentrate on customer service. We want our clients to be happy as well as our bookkeepers. With our systems that we have in place, time sheets, logs etc we are able to monitor the work being done with out micromanaging.