CPA - Accounting
Firm Marketing Newsletter:
Financial well-being - Client's viewpoint
In this issue
we'll take a look at one of the main points of that which clients
perceive as valuable in terms of help from their accounting professional,
namely the subject of "financial well-being" for the
client.
Self-evident
as it may seem, this subject is so confusing to most business
owners that you'll benefit from having tools for brining some
order to their puzzlement on this aspect of running a business.
CPA Marketing:
Give hope and help... and you'll sign on a new client
Financial well-being
is the number one goal for all business owners.
However, before
you can get them that far, you will need to create HOPE for future
well-being for your prospective clients.
It's no good
just claiming you'll turn it all around in no time.
They've heard
it all before or, to be more precise, they've HOPED so many times
that someone would perform miracles for them so by now they "KNOW"
it can't be done.
Obviously financial
well-being is a gradual path from confusion to full control on
the income-outgo side of running a business.
Just as obviously
the first step on that route is monitoring the various aspects
of their finances so they KNOW (and SEE) what's happening...
and can influence the outcome then and there.
And that's
something fully covered in the Monthly Financial Consulting Service that's part and parcel
of our Modern
Accountancy Marketing & Sales Course, the definitive user's
manual for any accountancy practice.
All right,
but let's get back to the basic question here:
What or how
do business owners SEE or VIEW this thing called
"financial well-being?"
Well, clients
basically evaluate the success of their business based on two
aspects.
These are...
- the VIABILITY
of the business activity, and,
- their
own SENSE OF CONTROL over its development.
Note that I'm
speaking solely from the viewpoint of what business owners
feel about it, not the factual or objective technological
side of finances.
They make their
decisions based on FEELINGS much more than you, in other words.
For your prospective
client, "viability" means the degree to which he FEELS
he is increasing his survival potential through the activity
and the passage of time.
Many things
are included into this factor, such as how many customers your
client has now (and acquires on monthly basis) and whether his
sales are geared to create continuous income from each of them
as opposed to receiving income on one-off basis from each customer.
From this we
can deduct a startling fact:
The degree
to which YOU can give him HOPE on being able to achieve viability
is the exact factor governing how successfully you can sign on
new clients to your services.
 Business owners instinctively know
that their business activity will never remain on level.
It is always
moving either upwards or downwards.
Thus, if the
business owner's income has remained more or less the same for
several years he will feel himself headed downward, regardless
of what his accountant or bank manager tells him.
After all,
the income does not meet his own expectations and competitors
will take over his market. He knows that inflation means his
income is actually diminishing year to year.
The second
point (control) is again explained solely from the business owner's
viewpoint.
CONTROL over
one's business activity is basically the degree to which he SEES
any dangers and positive trends at the time these emerge (or
as close to their emergence as possible) and CAN INFLUENCE the
situation and DO something effective to change it for the better.
For this he
needs to KNOW what's happening — and know it soon after
each month's end — and receive some HELP from his accountant
in what to DO to handle emerging dangers quickly or utilise the
window of opportunity produced by upward trends in his business
activity.
While this
is easily arranged and the consulting could be called almost
crudely elementary, the positive effect produced by this sense
of "being in control" for the client is nothing short
of miraculous.
And that's
exactly how the Monthly
Financial Consulting Service works, as proven by so many of your
colleagues already.
Providing such
a service will not only increase your clients' viability and
control over their business activity but also do the same for
yours!
Please contact me if you want more information,
and keep up the good work.
Best wishes,
Harry Kafka
HDK Consultants
Ltd
32 Manning Close
Richmond Square
East Grinstead RH19 2DR
West Sussex, United Kingdom
Tel. 01342-328 116
From U.S: 011-44-1342-328-116
CONTACT
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