Posted: 10 December 2021

Accountants Need To Fill Up The Hopper

Accountant's Minute 304

“Accountants need to fill up the “hopper” by keeping marketing going to keep the “hopper” filled up because every business experiences clients dropping out of the bottom of the “hopper” and if you don’t keep topping it up, and you, just arrogantly go along and say I have got plenty of business I don’t need to worry, clients will drop out of the bottom of the “hopper” to the point that you are no longer viable.”

“So, you really have to be looking at some form of communication/marketing strategy to keep that “hopper”, at least at a viable level, and hopefully at a highly profitable level.”

“If you say the “hopper” is going to fill up and that it will be spilling over the top, you can go and employ a couple of locums on a part-time basis to handle the overflow work or engage some other practitioners depending on what you need – but if you don’t do it, you are going to end up without any business!” Brad Smart author of “Selling the Message”, Communication Expert in TV, Radio Industries.

This was the key message delivered by Brad Smart in the conversation with Peter Towers, Managing Director, ESS BIZTOOLS in last week’s ESS BIZTOOLS Business Advisory Services Podcast that you can listen to by clicking here.

Other key points made by Brad Smart when discussing the development of communication strategies by accountants, business advisors, Chief Financial Officers acting for SMEs and bookkeepers included:

“The technology we now have, gives accountants and all SMEs a “heck of an advantage over 20 years ago – it certainly brings people a lot closer than what used to occur.”
“In my career I have dealt with some of the top accounting firms and also with small firms – they are all different and have different types of needs.”
“Some of the large firms have entire communication departments so they really do take advantage of the technology, they also have marketing departments that feed from the communications department.”
“Small operations can’t afford this type of service and what they need to rely on is either doing the communications themselves or bringing in freelancers to give them the help of a helping hand along the way.”
“Every business person needs systems because systems will put you in a place to properly instigate a strategy that is repeatable and scalable so that you can start off very small with a communication strategy but if it is an effective system – it can be enlarged and scaled up at any time.”
“The strategy should be repeatable so that you can repeat it time after time every quarter or every month.”
“You need to think about these actions even in the smallest of accounting firms – one-man practice there are people out there who can assist you to get your message out into the public arena.”
“From the conversations I am having with accountants all over the country:
- some accountants are saying they are very busy,
- some are not renewing subscriptions to services because they are claiming they’re too busy to implement those services.

Do you think that this is a realistic position to take?” Peter Towers, Managing Director, ESS BIZTOOLS.

“No – That is the time you should be involved in subscribing for additional services and learning new skills so you can start to diversify into areas, when you have got the strong cash flow because if you say I am extremely busy I can’t take on any more clients or do any other services, this is the time that your cash flow should be at its optimum, so that you can subscribe to other services for information that you can utilise to improve the quality of services that you as an accountant offer. That is when you need to be implementing things like communications because everything is cyclical and for various reasons the clients will drop off”. Brad Smart

If you would like to discuss with Brad Smart the implementation of a communications policy for your business you can contact Brad on 0418 311 011.

Business Plus+ December Edition

We featured the commentary relating to some of the key issues included within the ESS BIZTOOLS’ SME Needs Analysis which is a document designed to encourage clients to advise their accountants about the issues that are worrying them and to be utilised as the basis of identifying work that your client would like you to perform. You can access a complimentary copy of the Business Plus+ December edition by clicking here.

Want to know more about ESS BIZTOOLS?

You could start by visiting our new upgraded website – www.essbiztools.com.au which will give you an overview of the products and packages and other services that ESS BIZTOOLS can provide that assist accountants to implement a wide range of Diversified Business Advisory Services to assist:

your clients to add value to their business;
give your accounting team members interesting and challenging work to perform;
thus contributing towards staff retention and attraction of potential new team members;
with benefits to your professional firm from the income generated from “Diversified Business Advisory Services”.

WANT TO KNOW MORE?

You are invited to “Book A Free Strategy and Demonstration Session” on ESS BIZTOOLS with Peter Towers, Managing Director, ESS BIZTOOLS to gain a better understanding of the services that are available within ESS BIZTOOLS and ESS BIZGRANTS?

You can book a demo at www.essbiztools.com.au or contact Peter Towers: