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11 Ways to Accelerate Your Success in the Cloud
Our Gold Sponsors
Agenda
• Intro & Why We’re Here• 2 big mistakes to avoid when
starting your business• 2 client management pitfalls
and how to handle them when (not if) they come up
Agenda
• 3 questions from accounting clients that you will need to be prepared to answer
• 3 tips on transitioning clients to cloud accounting
• 1 resource that will help you profit from cloud accounting services
Introductions
• Michelle Long, CPA, MBA– Founder of Long for Success, LLC– 1 of 10 Women Who Inspire a Profession by
Accounting Today– Small Business Influencer Awards – Community
Choice Winner– Financial Services Champion of the Year by the SBA– National trainer for Intuit– Author of Successful QuickBooks Consulting & How to
Start a Home-Based Bookkeeping Business
Introductions
• Sandi Smith Leyva, CPA, CITP, CGMA– Founder of Accountant’$ Accelerator– Intuit writer since 2001– Author of 6 books and numerous
products– MS in Neuroscience– Copiloted airplane around the world
Introductions
• Accounting professional• Starting, re-starting, or cloudifying your
business
CPE
• [email protected] “I want CPE”
• Sandra L. Leyva, Inc. is registered with the National Association of the State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.learningmarket.org.
Speaking of Mistakes
• Michelle– The day I went to the library to
research a tax rep client• Sandi– The day I had a car wreck in
between QuickBooks clients
2 Big Mistakes
• Pricing Your Services Too Low– Why?• Lack of knowledge about
average billing rates• Lack of confidence in the value
of your service• Lack of clients
– Consequences– Alternatives
2 Big Mistakes
• Not Identifying Your Ideal Client (and Marketing to Everyone)– Why?• Lack of clients• Lack of clarity of services• Lack of knowledge about effective
marketing
– Consequences– Alternatives
2 Client Management Pitfalls
• Unpaid/Disputed Invoice.– Reactive: • Contact ASAP: the older the bill, the less likely it is to be
paid.• Listen; the client could have a valid point.• Stand your ground if you feel you are right.• Accelerate: Report your data to the credit bureaus
(Experian, Equifax, Transunion), small claims
2 Client Management Pitfalls
• Unpaid/Disputed Invoice.– Prevention: • Get paid in the cloud • Stay in communication • Get half up front• Notice warning signs• Do a credit check • Have a credit limit, cut them off
2 Client Management Pitfalls
• Unpaid/Disputed Invoice.
“Does your mother know you haven’t paid this bill?”
2 Client Management Pitfalls
• When you don’t get answers on a timely basis.– Write this in your contract; have an accountability
section– Use a clearing account, class, item, etc.– Use a project management system that emails
them daily (it’s not you)• The cloud will do this…
2 Client Management Pitfalls
• When you don’t get answers on a timely basis.– Keep really good notes of conversations; let client
know the consequences– Ask if there is someone else on staff you can work
with– Ignore them; put the project on hold. Billing and
payment should not be tied to getting answers.
Sample email
I wanted to reach out and make sure you weren’t waiting on us. We have a couple of questions we need your help on before we can move forward. Can you let me know when would be a good time to talk about these?Here are some available times:Would any of these work for you?
Questions
How to Ask a Question
• If you are OK with dialoging with us– Type in the box and raise your hand.• We will unmute you and we will talk
• If you prefer NOT to be called on:– Type in the box. We will answer and it
will be a 1-way conversation.
For best resultsClick “Telephone.” The phone number will appear with an audio pin.
3 Questions from Accounting Clients
• How much do you charge?– Don’t answer immediately– Evaluate potential client– Evaluate their situation and
needs– Communicate your fees and
policies clearly and confidently
3 Questions from Accounting Clients
• Will my data be secure?– Fear of the unknown– Listen – ask them to clarify
their fear and concerns– Educate – without getting
too technical– Reassure
3 Questions from Accounting Clients
• My relative can do my books. He just needs a few questions answered.– Inquire why they want to do it?– Clarify – ask about their education,
experience and qualifications– Plan – training, check ups and support
3 Tips on Transitioning Clients to the Cloud
• Do a before and after on costs. Include intangibles.
Current Cloud #1 Cloud #2
QB Premier Software $399 $399 $324
Hosting Fee 0 $600
Bookkeeping hours – internal(savings – file transfer, restore)
$100 0 0
Consulting – external $1500 $1000 $1000
Conversion costs – one-time $500 $200
Anywhere, anytime No Yes Yes
3 Tips on Transitioning Clients to the Cloud
• Be ready for the irrational emotional aspect of change itself.– Approach the right clients– Have them log into a demo (hold their hand)– Address security issues, but don’t talk over their
heads (SAS 70 Type II, SOC, HIPAA, Encryption)– It’s scary handing over private financial data
3 Tips on Transitioning Clients to the Cloud
• Make a step-by-step transition plan– What, who, by when• Sign up for service• Receive log-in script and passwords• Test login• Upload file• Test interfaces, backup• Report bugs if any• Train users on new access
1 Resource that Will Help You Profit from Cloud Accounting Services
• First Annual Ultimate Accounting vCon– 5 Quantum Trends in Accounting Services
and How You Can Benefit– Michelle’s 7 Hottest Tips for Starting or
Re-Starting Your Own Practice– Cloud Computing 101 Panel: From
Understanding to Client Implementation
1 Resource that Will Help You Profit from Cloud Accounting Services
• First Annual Ultimate Accounting vCon– 5 Ways to Make Money from Cloud
Accounting (and How to Price It)– The Apportunity– 5 Best-Kept Secrets About
QuickBooks Online for Accountants– Accelerating Your Success in the
Cloud
1 Resource that Will Help You Profit from Cloud Accounting Services
• First Annual Ultimate Accounting vCon– 12 webinars, 12 hours of live CPE– Training – Exhibit hall– Community forum for Networking– Win stuff– Bonuses – handouts, videos– Interact with us
Accounting vCon
• If you can’t travel• If you’re on a tight budget and want to learn• If you’re considering starting your business• If you’ve had trouble convincing clients to
move to the cloud or haven’t tried• If you want to keep up with trends• If you need CPE
Our Gold Sponsors
Questions
How to Ask a Question
• If you are OK with dialoging with me – Type in the box and raise your hand.• I will unmute you and we will talk
• If you prefer NOT to be called on:– Type in the box. I will answer and it will be a 1-way
conversation.
For best resultsClick “Telephone.” The phone number will appear with an audio pin.
Your Action Items
• What one thing will you do from this webinar?• Mark your calendar, to do list, project
management system, etc.
