A comfort level of trust, confidence with an accountant is a must

A comfort level of trust, confidence with an accountant is a must

December 21, 2014

Q: How can I find accounting help I can count on for my small business?

A: Many responsibilities come with being a small business owner, and every one is critical to maintaining profitability and promoting growth. You can't risk letting a deadline slip or overlook an administrative requirement, yet there are only so many hours in the day to get things done.

To ensure you stay focused on the most important things, it may be a good idea to transfer some routine chores. Even though accounting software programs have simplified the process of bookkeeping and tax preparation, someone well-versed in this area can spot trends or problems you might miss. And the more complex your needs - preparing financial reports, invoicing, payroll - the more time-consuming accounting becomes.

If you decide you need the skills of an accounting professional, the American Institute of Certified Public Accountants can help. The "For the Public" section of the AICPA website, www.aicpa.org,offers guidance in selecting the right CPA for your small business, including a searchable directory of AICPA member firms.

Fees vary greatly among accountants, depending on location, expertise, and services provided. Some firms will provide bundled services for a flat monthly fee, but may charge less for bookkeeping and other tasks that don't require CPA-level training. If you are considering a larger accounting firm, make sure you meet and get to know the people with whom you will be working. As with any business relationship, a comfort level of trust, confidence, and communication with an accountant is a must.

If you're not sure you need a CPA, a professional bookkeeper may be the right choice. The free online "Bookkeepers Hiring Test" from the American Institute of Professional Bookkeepers (www.aipb.org) can help you assess candidates' qualifications.

Other good sources are the membership directories of your local chambers of commerce, particularly if you need an accountant or bookkeeper within your geographic area. Most chambers have searchable directories on their websites showing their members by business category, including accounting.

Make sure customers know you value their business

Make sure customers know you value their business

November 23, 2014

Q: Not as many of our customers are returning for service as we expected. What can we do to encourage more to come back?

A: Every successful sports team has a "go-to" player, someone who can be counted on to deliver whatever is needed in specific situations.

As a small business owner, you want your firm to be a "go-to" resource for your customers, the place they'll turn to whenever they need a certain product or service, regardless of other options that may be available.

To achieve that distinction, you have to develop loyalty among your customers. At first glance, that might seem easy to do; give them what they want, and they'll come back, right?

Not necessarily. Customers have always wanted to feel valued, and to know that their specific needs will receive special attention. But building customer loyalty has become more challenging with the convergence of trends including easy access to data about competing companies; more price- or location-driven purchasing decisions due to economic factors; and greater expectations of value from those purchases.

Fortunately, there are many tactics to foster customer loyalty that can be integrated easily into your daily routine. A simple "thank-you for your business" goes a long way, but so does a personalized thank-you note, especially in the digital age. Don't cut and paste sentiments or use a form letter. Let customers know in a personal way that you appreciate their business.

Creating value will also help boost loyalty. Ask customers if there is anything else you could be doing for them. Then do it. If you blog or send an online newsletter, include stories or links to topics they may find interesting or that relate to your product or service. Consider offering incentives, such as discounts or freebies for frequent customers.

Review each customer touch point - your phone, website and store - to determine the kind of reception customers get, and how helpful each one is from the customer's view. And make sure your employees feel valued. When they feel good about working for you, they'll help customers have a better experience.

Even if your best efforts fall short and a customer goes elsewhere, you can still gain from the experience. Ask why the customer made the switch. If you can change or improve on something, do it.

You may not regain that customer, but you can use the input to better serve the ones you have.