5 Killer Ideas to Transform Your Accounting Practice
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1 5 Killer Ideas to Transform Your Accounting Practice
2 Where to Get This PowerPoint
3 CPE You must be on Sandi s list to get the notice or pull your cert from the previous URL Sandra L. Leyva, Inc. is registered with the National Association of the State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website
4 Agenda 3 ways your peers (AKA your competitors) have increased their revenues 2 tips you can implement today to grow your practice
5 Agenda The skills you need that will really increase your revenue (it might not be the ones you think you need) and where to start getting them 1 resource that will help you profit from cloud accounting services
6 Introductions Accounting professional Starting, re-starting, or growing your business
7 Introductions Michelle Long, CPA, MBA Founder of Long for Success, LLC and Co-Host of QB Power Hour Most Powerful Women in Accounting Top 10 ProAdvisor: Top Trainer/Writer & Top Social Media Leader Author of 5 Books: QuickBooks & QBO Practice Sets, QB 2014 on Demand, Successful QuickBooks Consulting & How to Start a Home-Based Bookkeeping Business Popular speaker at accounting conferences
8 Introductions Sandi Smith Leyva, CPA Founder of Accountant $ Accelerator Intuit writer since 2001 MS in Neuroscience Popular speaker and coach in accounting industry
9 Killer Idea #1 Focus on Being an Advisor You re not just a bookkeeper or accountant
10 Killer Idea #1 The problem with monthly services (like bookkeeping and payroll) Clients view it as data entry Think anyone can do it Why pay much for it?
11 Killer Idea #1 Your peers have: Become aware they were stuck and that there s a better way Get the skills Change your mindset Get some successes
12 Killer Idea #1 Initial Advisory Service > Monitor Key Metrics for Clients: Start with basics Gross profit margin Net profit margin Sales Growth Metrics (or Key Performance Indicators KPIs) relevant to the business Consider 3 rd party apps (dashboards/reporting) or Excel
13 Killer Idea #2 "I know accounting so I know business."
14 Killer Idea #2 Knowing business is a separate skill set from accounting Accounting Historical Transactional Measure Business Future Strategic Decide
15 Killer Idea #2 Knowing business is a separate skill set from accounting Entrepreneur Accountant
16 How do you learn business? Talk to your clients Talk to entrepreneurs Killer Idea #2
17 Killer Idea #2 Want higher level clients? Learn business
18 Killer Idea #3 I ve been operating for years and things work just fine. Why should I change? Do you still use Ledger books or green, columnar pads? Do you fill out tax forms manually?
19 Killer Idea #3 Key areas for streamlining your processes: Working in the Cloud Improves your efficiency and profitability Document Management Attached Docs in QB desktop & QB Online Doc Requests in QB Online Accountant ShareFile & more
20 Data Management vs. Data Entry downloaded transactions & bank rules Other 3 rd party apps as needed: Hundreds of apps Killer Idea #3
21 Tip #1 to Grow Your Practice Ask for a follow-up meeting Client communications Tell them what you will be doing (engagement letter) Do it Tell them what you did
22 Tip #2 to Grow Your Practice Increase referrals Identify what a good referral is for you? i.e. services needed, industry, etc. Build referral relationships peers, attorneys, bankers, insurance agents, real estate agents, other small business owners, etc. locally and online
23 Tip #2 to Grow Your Practice Increase referrals ASK everyone for referrals don t forget family, friends, neighbors, church members, soccer parents, etc. Pass out cards liberally!
24 As a technician The Skills You Need Accounting, tax, technology
25 The Skills You Need As a business owner Metrics Business Technology Marketing & Pricing
26 1 Resource that Will Help You Transform Your Practice Fifth Annual Ultimate Accounting vcon Guest Speakers: Shark Tank Alums On Money, Marketing, Motivation, Accounting, Business and Success
27 1 Resource that Will Help You Transform Your Practice Fifth Annual Ultimate Accounting vcon 5 Steps to Transform Your Practice to Today's Technology How to Transition Legacy Clients to Value Pricing
28 Our Sponsors
29 1 Resource that Will Help You Transform Your Practice Fifth Annual Ultimate Accounting vcon 12 webinars, 12 hours of live CPE Training Exhibit hall Win stuff Bonuses handouts, videos Chat room Interact with us
30 Accounting vcon Cost of a regular conference Registration fees $600-$800 Airfare $300-$400 Hotel & Meals $200 x 3 nights = $600 2 travel days' lost income $800 - $2000 Total cost: $2,300 - $3,800 VCon price = $199 Now $149
31 If you can t travel Accounting vcon If you re on a tight budget and want to learn If you want to hear from some extraordinary entrepreneurs If you want to have fun If you want to keep up with trends If you need CPE
32 Register by March 25 THIS FRIDAY And get the Metrics Excel Spreadsheet As a BONUS!
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More informationMichelle L. Long, CPA, MBA and founder of Long for Success, LLC has helped thousands of accountants grow their business and knowledge of QuickBooks
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