Sageworks Blog

May20

Leverage what you learned during busy season. It’s not too late! Jessica Ballard [email] Director of Marketing

May 20, 2013 14:28

Busy season is the perfect time to learn more about your clients and their businesses. Think back to the conversations you had and what they shared with you. Did they mention any changes or concerns with their life or business?  Even if you weren’t able to spend a lot of time with them during tax season, that doesn’t mean you haven’t learned new things about their business. You just finished up completing their tax returns, which hold a great deal of information about a business and its health. Now is the perfect time to leverage that information and offer ways to help.  AICPA President, James C. Metzler, CPA.CITP, CGMA, recently offered a few ideas to help you reflect on and leverage information gained in recent work for and meetings with clients. If you’re ready to begin your opportunity season, follow these three steps Metzler suggested in a post on AICPA.org and become the trusted advisor your client not only wants, but needs.  1) Ask yourself questions about your client’s situation.  • How has their situation changed from last year?  • What financial trends have you noticed over the last few years?  • Did you see any changes in their overall financial health? • Is there anything they should be concerned about?  • What suggestions do you have to help their business grow? 2) Take notes on your observations and schedule a meeting. Now that you’ve looked further into their business and identified ways that your firm can help, it’s time to communicate your knowledge to them. It’s best to schedule the meeting while you still have their financial situation fresh on your mind.  3) Have others help. Meet with your team regularly to talk about the services you offer and what the firm’s focus is. Provide them with buzz words that can help identify additional opportunities while working with clients. It’s also important for you and your staff to discuss new ways to “wow” your clients by providing them with top notch service – but don’t forget the basics! When you know your client is happy, it’ll be easier to discuss other ways you can help them. Remember to have fun during your engagements and enjoy getting to know your clients better. Be prepared and make it comfortable for them to open up about their business concerns and ideas. Once you have the information you need, you can come up with action plans together and communicate regularly to ensure they are being met with new ones taking their place. Opportunity season is all about helping your clients make better financial decisions and increasing your bottom line!

Apr25

Where to find your next new client Mary Ellen Biery [email] Research Specialist

Apr 25, 2013 13:13

Successful CPA firms know that while business may be great today, there’s no guarantee for tomorrow. Sageworks recently used its database to determine the fastest-growing industries among U.S. businesses with revenues of $10 million or less. They might be good targets for prospecting, since they may be growing quickly and may need extra help managing their books and evaluating their financials. [More]

Apr19

Should you offer business advisory services? Jessica Ballard [email] Director of Marketing

Apr 19, 2013 17:30

Offering business advisory services to your clients will not only add value to the success of their business, it will also drive revenue to your firm and prevent you from competing on price. AICPA recently posted an infographic that shows 87 percent of business decision makers respect CPAs as valuable assets to their organizations and 52 percent rank their CPAs as their most trusted advisor. [More]

Mar22

Introducing the Business Advisory Forum for CPAs and Accountants on LinkedIn Jessica Ballard [email] Director of Marketing

Mar 22, 2013 16:21

Sageworks is excited to announce The Business Advisory Forum created on LinkedIn, a new forum created specifically for CPAs and Accountants. This group will assist you with implementing these services, identifying opportunities, and providing information on best practices and tips for consulting with your business customers. [More]

Mar13

Was Your Client Denied Business Credit? 5 tips to pass along Mary Ellen Biery [email] Research Specialist

Mar 13, 2013 17:00

If one of your clients recently applied for business credit and was rejected, he or she isn't alone. A recent survey of banks and asset-based lenders found they had turned down more than a third of all businesses' applications for loans, according to Pepperdine University's 2013 Capital Markets Report.

How can you help a client whose business credit application was denied? [More]

Feb 12, 2013 15:48

In a recent post, AccountingWEB discusses how to advise your business owner clients about personal guarantees and what choices they have. A personal guarantee is almost impossible to get around when signing a commercial loan, but there are a few things your clients can do before signing. [More]

Jan 11, 2013 11:17

Too busy to sit and talk with your clients during tax season? In a recent post, Kreston International discusses how you can prepare for a meaningful conversation with your clients and offer more services without taking up too much of your time. [More]

Dec 14, 2012 14:50

Finding a good CPA is a lot like finding a good contractor or a good realtor. It's ideal to put yourself in your prospects shoes and understand that your client is not only looking for the best qualifications on paper, but looking for someone with outstanding attributes that go far beyond what you’ll find on a resume. [More]

Sep 17, 2012 14:17

Accountants have a wide range of ways they can offer their business advisory services and still follow industry best practices. However, over the years Sageworks has found that it is important to for accounting firms to avoid these common pitfalls in order to optimize the value of these services. [More]

Sep 11, 2012 08:14

Even if you are providing business advisory services to your current clientele, it's important to use the right approach to make the most of the arrangement. Follow these 3 best practices to make sure you're making the most of the arrangement. [More]