Every accountant should build their service around meeting the needs and wants of their clients and prospects beyond doing their accounts, tax returns, offering advice etc. Humans inherently have an in-built set of needs and wants.  These were expressed by Maslow in his hierarchy of needs.  Maslow observed that people only want the next level when they were fulfilled with their current level. Let me explain.  Everyone starts at the bottom of the pyramid and moves up.  The levels are: Physiological: This is basic survival. We all need food, water, sleep, clothing, shelter and basic sanitation to survive.  Your clients…

As accountants, we all work with sole owners, companies or partnerships that are either: Struggling Uncertain, unsure of where they are going and not making full use of what they have Successful and know where they are going Each of these categories requires a different approach and a different form of support.  Accountants need to adapt their approach to suit circumstances as businesses can and do often move between these categories especially during terms of uncertainty. Struggling This is when a business needs you most.  It is also the time when they need someone to give them cool, level-headed advice…

Value Added Services and TestimonialsWith the continuing development of accounting software, like Xero and QuickBooks, many accountants are offering value added services such as acting as a virtual Financial Director.  This can be very lucrative.   However, it can be difficult sell this service to prospects and even existing clients.  This is usually because the individual cannot see how it will benefit their business. Testimonials can help you to overcome this barrier, win the work and support your clients.You need 5 different types of testimonials, ideally 2 or more of each type.  These are: Testimonials that Shows it WorksThis is often the biggest barrier…

Improve Communication with Your Prospects, Clients and Employees One of the errors that most people make in business and life is that they think everyone else thinks like them.  This, fortunately, is not the case.  People have different behavioural styles.  Different styles have different values.  Different styles prefer different activities. Different styles are suited to different jobs and roles.  By understanding the difference between the styles and how best to communicate with them, you can improve your relationships, sell more to prospects and clients, employ the right person for the right role and get more done.  There are various behavioural…

Define Your Ideal Client to Save Money and Grow Your Accountancy Practice with Clients You WantBuilding a profile of your ideal client or niche makes a massive difference to the cost and impact of your marketing.  It also ensures you grow your practice with the clients you want.Profiling your ideal client vital for your marketing and for your business.  If you get this right, everything else will follow. Here are the 2 key points businesses often overlook:No service or product appeals to everyone.You do not want to have anyone and everyone as a client.Let me explain.There is no such thing as…

How to Differentiate Your Accountancy Practice from Your Competitors The simple fact is in the absence of any other obvious differentiator, people will always choose the cheapest option.  If the only thing that appears to separate you from other accountancy practices is your price, then this is the only thing people can choose on. You must differentiate yourself from other accountants.  This gives you a competitive edge and allows you to avoid the race to the bottom. There are many ways to do this. In this article, we’ll focus on developing your Unique Selling Proposition (USP).   The USP is a…

The 3 Marketing Strategies for Accountants There are only three marketing strategies that any business, including accountants, can use. These are: Low cost- this is where you become the lowest priced supplier in the marketplace.  Ryanair, Weatherspoons, SpecSavers etc. have all built very profitable companies using this strategy. High end- this is the opposite end of the spectrum where you are a top brand and supply something outstanding.  In accountancy, this is PWC, Deloitte, KPMG and EY.  Niche- this is where you supply a service or product that is tailored to meet the needs of a specific market. Your offering…