Tips to grow your Bookkeeping business
TBH is committed to helping its members grow their bookkeeping business. In our view there are a number of opportunities to grow business revenues which are overlooked by members one key area is to add value to existing clients. It’s a core principle of good marketing practice and business development, that increasing revenues from existing clients is the most powerful way of growing a bookkeeping business. And it’s not about raising fees. It’s about offering value. Though our Editorial Advisory Board we have developed (and continue to develop) a major resource of Special Reports, White Papers and Guides such as our Taking Care of Business Guide for the exclusive use of our members to give (or sell) to their clients.
Growing your revenue
Grow your revenue by marketing your expertise. How do you want your clients to view your service? Do you want to limit your fee base to the tasks for which you have been hired or have you already identified areas where you can see the client’s business benefiting from your expertise?
Sample: SPECIAL REPORT Control Your Cash
There are not too many SMEs which do not have cash control issues (even crises!). And too many go into business believing that an accounting profit will ‘take care of everything”, It won’t: in small business cash is king. This SPECIAL REPORT (given to your clients) will become an essential guide for the cash flow of your client’s business.
(Extract) An accounting profit is an important guide to how well your business is travelling, but it is the cash flow statement which determines its ultimate survival and health. The business could be making a profit on paper and still be headed for insolvency. If what is going out every week exceeds what is coming in at the bank then trouble is brewing. Few SMEs are adequately capitalised to be able to handle a cash flow drain on their resources (cash and lines of credit).
Here are 1O rock-solid, proven tips for getting control of your cash flow and keeping it under control:
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Do a cash flow forecast
The forecast should inform you who you are paying, when the payments are due, who is paying you and when that’s coming in. The forecast also sets out all your costs for the months. A good forecast model can anticipate problems so you can take action to prevent them.
It can be used to develop assumptions on sales, costs, credit and funding to produce monthly cash flow projections well ahead and assess the impact of cash flow on future sales, costs and credit terms and replacement of assets, such as computers, furniture (for example café or restaurant), tools and machinery.
Don’t know where to start? Ask your bookkeeper to help you build a cash flow forecast. It will be the best investment you’ve ever made!
Read more… download report
How to use the Bookkeepers Hub’s SME Resources to grow your bookkeeping business
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Look through our list of contributor articles, or our Expert articles ( which we are currently developing and which we will have available shortly: watch this space! ) and find useful articles for business development.
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You have your client list, now think about their needs. Perhaps you have already identified areas for improvement. Rather than casually mentioning these, why not offer to do some of the Guides such as the SPECIAL REPORT:
Each of these guides can be white –labelled with your firm’s logo. Some will be available FREE to Members; others may have a nominal cost. Find out more about our offer. Yet another benefit of the Bookkeepers Hub!