Successful Accounting Women ** More Clients | More Money | More Time Off! ** » recession http://www.sandrabaptist.com More Clients|More Money|More Time Off! Thu, 09 Sep 2010 17:34:16 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 Accountants, recessions are great for your business too! http://www.sandrabaptist.com/blog/accountants-recessions-are-great-for-your-business-too/ http://www.sandrabaptist.com/blog/accountants-recessions-are-great-for-your-business-too/#comments Wed, 02 Jun 2010 18:32:49 +0000 Sandra Baptist http://www.sandrabaptist.com/?p=429
I know I know..I can hear you asking. How can a recession be good for my business, when my income is down and my customers are taking longer to pay me?! Let’s look at the flip side of the situation then.  It’s a simple case of taking the negatives and turning them into positives. (1) Prices are down so this is the time to buy some property. Start looking at some deals. I have a good client and a dear friend who has not stopped building his apartments. In fact he called me yesterday to meet with him and he wants another 3/4 million dollars from the bank to build a high end apartment block! My client is very friendly with an auctioneer and buys the majority of his real estate through auctions. A great benefit of this is, of course, he never pays the true value of the property. (2) Stop marketing one-to-one. Start marketing one-to-many. If your clients are no longer paying full costs for services and are holding onto their wallets tighter, you need to understand that and fit your marketing to accommodate them! Taking your business online and having technology work for you will help with this tremendously. I did a teleseminar on this a few weeks ago on how financial professionals can step from behind their desks and start marketing one-to-many. (3) In this period of slow down, get your systems and business running smoothly to take advantage of that upsurge. Accountants need to look at THEIR businesses as well. If there any expense that you can eliminate or reduce from your Profit & Loss? Can you move out of rental accommodation and find somewhere less costly? Remember the same advice you give your clients, you need to take as well! (4) Offer what your clients want, not what you have! This is huge! In this period, there has been alot of refinancing going on with both individuals and companies. With refinancing comes consultations, business plans, financial statements, etc. Why not put a small classified ad in the paper targeting your niche, letting them know that you offer this service. (5) Offer existing clients a new service. This obviously is an individual process and depends on what you are good at. Find out what clients want and give it to them. Create a joint venture with a related company eg. partner with an IT specialist and an attorney and offer their services to YOUR clients and take a small commission. This is a bonus tip for you! (6) Start a new and unrelated business! You need to go where the money is.  Find out what’s missing in your area and look into offering this service yourself. Internet businesses are fairly less expensive to start. Alot of businesses were started during economic downturns, why not you? The bottom line here is to stop thinking about your profession (accounting, financial professional) as a box! Step out and start thinking like an entrepreneur that is offering accounting and financial services. You can do other things as well to make more money. What else can you do to make your income goals for this year? Share your thoughts below…
]]> http://www.sandrabaptist.com/blog/accountants-recessions-are-great-for-your-business-too/feed/ 0 Focus on the Recession or YOU?? http://www.sandrabaptist.com/entrepreneurial-mindset/focus-on-the-recession-or-you/ http://www.sandrabaptist.com/entrepreneurial-mindset/focus-on-the-recession-or-you/#comments Sun, 08 Feb 2009 21:36:46 +0000 Sandra Baptist http://www.sandrabaptist.com/?p=12
I’m quite sick of hearing about this recession, the depression or whatever it is! Every day it’s the same drama and the more we talk about it, the more it perpetuates itself and grows!   Let’s get our act together people!!! DO NOT PARTICIPATE!!   I find it so amazing that there are some businesses that are closing their doors while many entrepreneurs, some of whom I know personally and are my mentors, are multiplying their incomes expotentially. There are 2 women that have gone from low six figures to become millionaires in 2008! I’m sure they are wondering “what recession?”   What are you going to focus on? What’s going wrong…the companies that are failing or what’s going right?   There is opportunity in EVERY adversity. FIND IT!   For entrepreneurs and business owners everywhere, it’s your duty to find that opportunity or upgrade your life or invest in yourself or take a course or training that will propel you to add an extra zero to your bottom line.   The recession isn’t going to last forever. What are you going to do today to move yourself forward?
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