Make More Money During Busy Season
If you’re a Certified Public Accountant, you know that March is one of the busiest months of the year for you. April 15 is your deadline so your workdays during tax season turn into late nights at the office. It’s your busy season.
Even if you feel overwhelmed with the work you have, it’s important to continue to increase revenue for your accounting firm.
Don’t get buried in your work so much that you miss this opportunity to grow.
Here are some tips to help you get started:
Help Your Client’s Business Become Successful
At an upcoming meeting with a client, discover what they need help in making their business more successful. Think about the services that your firm offers and consider whether they would resonate with your client.
Educate Your Clients
While preparing your client’s taxes, they will naturally have questions for you about their income or business. They trust you with their financial information and you owe it to them to educate them and ask them questions in return.
At times, your clients ask simple questions about new write-offs, tax incentives, etc. Follow up with a question, such as, ‘What made you ask that?’ Engage with your client and share your knowledge.
This rapport-building is also a great relationship-building tool. In an era when convenience triumphs loyalty, CPAs need to continuously work to build relationships with their clients.
Learn How to Say No
For many accountants, it’s hard to say no to taking on a new client. During the busy season, you may have feelings of regret for taking on a certain client when you could be spending time working with a more profitable, valued customer.
While it’s always a good time to prioritize, it’s especially important when you are loaded or overloaded with clients already.
A good tactic to use to ‘say no’ is to refer these new client prospects to new accounting firms just getting started in the industry. You could even potentially receive a referral fee.
If you encounter a bad client – someone who wants you to break your professional standards – talk to them about your firm’s policies from the get-go.
And, if saying no is the only choice you have, remain brief and show respect.
Also, think about if there are any alternatives you could offer to the client. Can you offer to file an extension? This could buy you time and you could do their taxes later when work isn’t piled as high.
Cross-sell Your Services
While increasing your prices and adding new clients increases revenue, you should consider cross-selling additional services to the clients you already have under your belt. Offering unique services, such as industry benchmarking can set you apart from the traditional CPA offerings.