Patience is the key to great service. Clients can tell when those they are dealing with are patient and when they’re not. No matter how well you may think you’re hiding it when you feel impatient, your tension will generally show through–in the tone of your voice, a frown, or a quick roll of the eyes. So how can you make certain you’re giving patient, caring service every time you interact with a client? Take the following steps:

• Think before you speak. If you find yourself beginning to feel tense, stop and get a hold of your emotions before you say something you might regret.
• Talk in a calm, reassuring voice. Avoid allowing your voice to rise, even if your client is raising his or her voice. Instead, maintain an even tone. This will not only keep your client calm, it will help keep you calm as well.
• Put yourself in your client’s place. If you were having a problem, you’d want a business associate to treat you in a solicitous manner, wouldn’t you?

Patience is indeed a virtue, particularly when you’re talking about client relationships. So turn your annoyance into tolerance when you find yourself in danger of losing your cool.

Learn More Tips to Help You Run Your Successful Accounting and Bookkeeping Business

How to See Failure as Opportunity and Turn Hardship into Success

Every failure, obstacle or hardship is an opportunity in disguise. Success in many cases is failure turned inside out. The greatest pollution problem we face today is negativity. Eliminate the negative attitude and believe you can do anything. Replace ‘if I can, I hope, maybe’ with ‘I can, I will, I must.’ —Mary Kay AshTo begin to think with purpose, is to enter the ranks of those strong ones who only recognize failure as one of the pathways to attainment. -James Allen

It is lemonade season-the time of year when thousands of kids take lemons, turn them into lemonade, and sell them on street corners for profit. We could learn a thing or two from these budding entrepreneurs.So what do you do when life hands you a basket of lemons? When failure makes an appearance in your business? You turn it into lemonade, or see it as a stepping stone to success. Here are 5 steps that will show you how.

1. Redefine it

You’ve got to redefine failure. It shouldn’t be seen as a bad omen, but an opportunity to learn and grow. And do you really think you can become insanely successful without learning more than you know right this instant? The best learning experiences often come in the form of failures and mistakes. Don’t fear them; embrace them. While some view failure as an obstacle, it is often the stepping stone that will take you higher and farther, enabling you to achieve true success.

2. Analyze it

You can’t learn from a mistake or failure without taking the time to dissect it and determine what, exactly, went wrong. Some would rather walk away from the failure and never look back, but that would be the worst mistake you could make. In looking closely at what happened you will learn how to improve, repair, change, and excel. But don’t overanalyze. Once you’ve learned what you need to learn, move to the next step! Otherwise you become subject to that age-old deterrent: paralysis by analysis.

3. Apply lessons learned

Once you’ve discovered what caused, prompted, or encouraged the failure, apply the lessons you’ve learned so it won’t happen again. Often we engage in destructive actions again and again because it’s all we know. Unfortunately, that will not help you achieve success. Success requires you to continually evaluate your actions and determine how they can be improved. This is what you must do with failure. Once you realize why something didn’t work, you can change your behavior, and in turn, change the outcome.

4. Move on

” . . . our doubts are traitors; And make us lose the good we oft might win; By fearing to attempt.” —William ShakespeareYou’ve learned, you’ve applied, now move on. Do not let fear of failure paralyze you. Katherine Mansfield once wrote, “Risk! Risk anything! Care no more for the opinion of others, for those voices. Do the hardest thing on earth for you. Act for yourself.” Do not be afraid to move into the unknown in order to move forward. You wouldn’t tell your child to put her two-wheeler away simply because she fell and skinned her knee. You would encourage her to get back on that bike as soon as possible and continue to ride. Take your own advice: continue to ride!

5. Expect greatness

Just because you experienced failure doesn’t mean you should expect it to continually litter your journey. Be positive and expect great things to happen. When you do, not only will great things happen but you’ll be in the right mindset to take future failure and see it for what it really is: opportunity in work clothes.References“Turn a Failure into a Success,” by Rhonda Abrams

Tax Tips – A Simple Estate-Planning Tip

Many people have provided for their favorite charity in their wills. But not many people know about a simple technique that can accomplish their charitable giving goals–and pass more of their wealth on to their loved ones.Here it is: Instead of making an outright bequest in a will for charity, the individual should name the charity as a beneficiary of their company retirement plan or IRA. When they die, the charity will still get the amount they want it to–but their heirs will get a lot more.This strategy is brought to you by a little concept known as “IRD.” This stands for “income in respect of a decedent.” When someone with a retirement plan dies and the proceeds of the plan are paid out, the money flows into the individual’s estate as IRD income. This money is taxable to the estate–and it may also be taxed as income to the person who ultimately receives it. When all of the taxing authorities get finished with IRD income, they can take around 80 percent of it. The individual’s heirs may see only 20 cents of every dollar the plan pays out.Example: Wilson has $300,000 in his 401(k) plan. In his will, he gives his retirement plan to his kids and he gives $100,000 to his favorite charity. Result: At death, the charity gets its $100,000 and the kids get their $300,000. But the kids also get this: a Form 1099-R. This form is sent to them by the retirement plan administrator because the $300,000 is taxable income to the kids.In order for Wilson to leave more to his kids, all he has to do is eliminate the $100,000 to charity in his will. He also has to go to his employer to instruct it to send the first $100,000 from his 401(k) plan to charity when he dies.New result: The charity still gets its $100,000. And the kids still get their $300,000–but $100,000 of it is a tax-free inheritance. They still get a 1099-R, but it’s for only $200,000 from the plan. The charity gets a 1099-R for the remaining $100,000 from the plan that it received. But the charity can rip it up because, as a tax-exempt organization, it pays no tax on this money.This technique can also be used in conjunction with other assets that trigger heavily taxed IRD income. This includes savings bonds, unpaid bonuses, lottery winnings, unpaid rental income, and installment sales obligations.

The Sales Force That Never Sleeps (Part Two of a Two-Part Series)

The Secrets of Effective Direct Mail

If you thought the ugly, misleading junk mail you receive is direct mail, you wouldn’t be alone. But what you’re seeing is the least effective style of direct mail. Not all direct mail is junk mail.The most innovative and effective advertising being done today is via direct mail. Why? Because if you know how to do it and have a realistic strategy, it works. It really works. And there’s good news. You can do it without spending a lot of money.How do we know that direct mail works? We know because it keeps coming. If it wasn’t effective, advertisers would stop using it.

Direct Mail Works Because it’s a Tested Medium

What does that mean? It means that the most successful practitioners of direct mail use formulas and strategies that work. Strategies that have proven themselves time after time.Last week we talked about how effective the personal letter can be. Personal letters are a part of the direct mail arsenal. They should be a part of your marketing tool kit if you’re really interested in finding new clients and keeping in touch with your present clients. If you’d like to review what we’ve talked about before click HERE.

What Makes Direct Mail Work?

I have to admit, I’m a big fan of direct mail. Let’s look at 10 things that you must know in order to produce direct mail that works.

1. Visually… What Works and What Doesn’t? Walk out to the mailbox and take a look at what’s there. Every night when I come home, I ask my wife, “Anything fun in the mail today?” I love going through the catalogues and other direct mail. Why? That’s where I do my homework.Granted… there’s a lot of really bad junk mail in there, but there are some gems of genius too. If I see something that I really like, I save it, learn from it and try to incorporate the things I like about it into what I do.But the really bad stuff is fun too. Junk mail has a unique style. Learn to recognize it and make sure you understand how to make your direct mail look different.
2. Stay Away From Cheesy Tag Lines or Too Many Type Fonts- Bold with italics, ALL CAPS and multiple exclamation points!!!! look like junk mail. Don’t use them, no matter how tempting. Stay away from using every typeface in your word processor too. Pick a typeface that’s easy to read and stick with it. If it’s tough to read what you’re writing… nobody will.Copy writers and graphic designers have always disagreed on this, but it’s more important that your reader understand and respond to what you’re writing. The aesthetic beauty of the design and layout is secondary. Words sell. Everything else should be designed to promote reading the words. Keep the designs clean and simple.
3. Don’t Make Me Think… Too Much- Don’t use too much jargon. (The language of your profession.) Most of your potential clients won’t know what you’re talking about. It makes it harder to read. (see #2) If you make it hard to read, they won’t.Of course, you want them to know that you are a professional, that knows your profession, but whether you’re talking to bankers, attorneys or housewives, keep it simple. Make it easy to read and understand.Break up your sentences in short, easy to read paragraphs. If your message looks daunting to read… they won’t. Most people skim, so make sure you’re message is understandable even if they don’t read every word. Indents, headlines and sub-headlines make it possible for the reader to pause and read more where it’s interesting. Underline or bold specific sentences or thoughts that are the “must read” parts of your message.
4. Use Your Experience- If you know your model customer inside-and-out, use that knowledge. Your direct mail piece is nothing more than a written conversation with you. Talk to your clients and potential clients as you would if you were right there with them. Use a personal tone. Don’t sound corporate. It’s harder to say no to John Smith than it is to Acme Widget Corporation.
5. Being Cliche is… So Cliche! Be honest. How would you respond to, “This Amazing Offer is Too Good to Be True!!!!” Yep, it probably is amazing, but if it sounds “too salesy”, nobody’s going to believe it. Tell the truth about your service and your potential clients will appreciate it. Not only that, but for example, if your offering a special price on payroll services, tell them why. “I’m offering this special price on my payroll services for new clients because I want to expand that part of my business.”My mom always said, “Honesty is the best policy.” Even in advertising it’s true. It’s the only way to keep clients once you find them.
6. Ya Gotta Ask- As a younger guy I was a salesman for an industrial company. I spent a lot of my time with corporate purchasing agents. One day I received an especially big order from a buyer that my major competitor and I had been working on for a long time. As he gave me the order he said, “Do you want to know why I gave you the order?””Absolutely.” I said.”Because you asked for it. The other guy never asked for it. He told me all about how wonderful his company was, what a great job they would do. But he never asked for the order.” He said, “That’s why I gave it to you. You asked for it.”It may be at the bottom of the advertisement, it might be at the top… but you have to ask for the order. You may have the best bookkeeping/accounting service in the world, but if you don’t say, “I’d sure like to be your bookkeeper. When can I start.” You will more than likely never be his or her bookkeeper.
7. Postcards, letters or flyers? Postcards are great direct mail because they eliminate the barrier of the envelope. But I’m a big fan of a letter or letter package for most high-end products or services. That’s why bankers, lawyers, doctors and other professionals usually don’t advertise with postcards, because there isn’t enough room to tell their whole story.What’s the difference between a letter and a letter package? A letter package could include an additional brochure, a coupon or a response card. They’re a little more expensive, maybe a few cents more per package, to send out, but they are often worth the extra cost.However, if you ask a direct mail expert, he’ll tell you the most important part of the package is the letter. If you have to dump anything in the package… dump everything else before you get rid of the letter. The letter is your salesman.
8. Use Color… But Use it Wisely- Color will often attract more attention, if you don’t use too much. Just because you can doesn’t mean you should. Color is more expensive and if it doesn’t add to the effectiveness of your message, it’s a waste of money. Many very successful direct marketers don’t use color. If they do use color, they only use one or two colors.If you are going to use colors, remember that bright colors speak loudest and dull colors speak more subtly. Think about what you’re offering, the image of your practice that you want to represent and consider the audience you are mailing to. Use colors, but use them wisely.
9. Get Personal- Look again at #4. (Use Your Experience) Business is personal. I realized years ago as a salesman, that my products weren’t as important as the relationship I created with my clients and customers. There were always substitutes for my products, but my success or failure depended on whether or not I was able to build a relationship of trust and confidence. Your clients will call you because they trust you. Not “Amalgamated Bookkeepers.”It doesn’t matter what industry you’re in, business is done person to person. Forget that, and you’ll be just another face in the crowd.
10. What’s the Best Way to Mail It? Although it might be tempting to bulk mail everything, don’t. Although bulk mail works fine for some products… catalogues, postcards, etc. A personal letter or letter package has a better chance of getting opened if it’s mailed first class.Why? Because statistically that’s what works. First class is hands-down opened more than bulk mail. Hand addressed letters are opened more than labeled letters and hand signed letters, (in blue ink) are read more than signature stamped letters.

The Professional Bookkeeper Program Teaches Tested Direct Mail that Works

Module 4 of the Professional Bookkeeper Program has tested and successful sample direct mail sales letters that you will use to find and keep clients. Letters that have proven themselves time after time. Marketing that will help you find new clients who will gladly pay you for your professional services.At Universal Accounting, our commitment to your success doesn’t end with teaching you bookkeeping and accounting. Any education that doesn’t give you all the tools to create the professional and personal lifestyle you want isn’t enough to help you build a successful and profitable bookkeeping business.We’ve been teaching people like you and me how to start a small business bookkeeping and accounting practice for over 25 years, since 1979. We’re the small business accounting experts. And we’ll be there with support and advice for 6 months after you complete the course to help get you on your feet and on the way to your very profitable business.

Remember #6?

I don’t know of another bookkeeping or accounting course that is as complete or offers as much support as the Professional Bookkeeper Program from Universal Accounting. Starting a professional bookkeeping and accounting business will provide you with a better income, create a wonderful lifestyle for you and your family and give you the personal and professional satisfaction that you’re looking for. You won’t regret it. Enroll today!

Client Secrets are Your Secrets

As accountants we are exposed often to our client’s sensitive proprietary information such as the names and status of our client’s customers, performance reviews, salary information, legal matters, research data, company reduction or expansion plans, labor negotiations, finances, and product development. It becomes are responsibility to make sure we don’t share this information with the wrong person or people.

To help maintain confidentiality…* Never discuss confidential company business outside your client’s office unless the client is present or has given you specific authority to do so.* Keep your voice low-pitched so that you won’t be overheard when talking about your client’s company matters in public. Be especially careful in restaurants, shuttles, at the water cooler, and on airport phones.* Minimize client-related chitchat. Don’t initiate discussion of sensitive client information with other accountants, and change the subject if associates bring up such topics.* Be on guard at social functions. That new acquaintanceyou talk to shouldn’t be counted on to keep any information you may reveal in confidence.By practicing discretion, you can help prevent sensitiveinformation from leaking out.

Other sections from this week’s newsletter:

• Purchase the Professional Bookkeeper Program and get the Financing a Small Business Course at No Additional Charge
• Make Your First Impression a Lasting One
• Keep Your Bookkeeping Service Flying High