Small Business Bookkeeping Firm Strategy
Linda was stuck. She felt over-stressed, overworked and had no interest in keeping things the way they were. She didn’t know which way to go, but she knew that what she was doing wasn’t working.
Linda ran a small 20-year-old bookkeeping firm, seeking ways to reboot and progress. She was looking for a magic bullet that would help her get her company back on track. Working virtually around the clock, she was not billing enough to justify the work. She was stuck. Linda felt over-stressed, overworked and had no interest in keeping things the way they were.
We evaluated what was going on with her customer base; it included many very small businesses that required a lot of time and resources, but didn’t pay her a whole lot. Then she had the larger customers who expected her to stop running her business for several days per week in order to sit at her desk.
Looking at it from a financial perspective, both activities took time and energy away from doing things in her company that only she could do! This resulted in her being overworked and underpaid.
We worked with Linda over a period of six months, helping her address challenges head on. One of the things that took a lot of energy out of Linda was the relentless hours she worked. She wasn’t nearly as productive as she could be, making her firm much less profitable. We helped Linda develop a schedule and monitored her success.
We identified three sets of tasks at her firm: things only she could do, things only a qualified bookkeeper could do, and things only an administrator could do. The idea was to take away some of the work that could fall into the hands of her staff.
Linda was a heavy networker and her online assets could be leveraged to bring her new business. We asked her to get her information into a CRM system to keep track of all those who she had contact with. This allowed her to score the likelihood of doing business with them and manage all communications between her office and the customer.
We also identified which products would be most profitable, which clients had the most potential and how to get the right products into their hands that would meet their needs while ensuring the company’s profitability.
Thanks to our solution, Linda gained even more time, which she could use to find new customers. By improving communication, we also ensured sales opportunities didn’t fall through the cracks when things got busy.
We got her to tap into her network with a referral program. She was encouraged to use her newsletter system to keep her company on top of people’s minds, reminding them about the ways they could benefit by working with her.
Linda was able to show clients how they could save money by having a bookkeeper work on site. By redesigning her website, we allowed visitors go through a specific path, ultimately boosting conversions.
At the end of the day, Linda had a number of options to work with that would produce a viable future for her and her company. She was in a much better position to make decisions and create a long-term plan for her company. Her husband found a way to work that would keep the family afloat and Linda’s business got back on its feet.
As a result of what we were able to CREATE|DESIGN|BUILD, the client enjoyed the following results:
- More time to pull new business
- Getting the firm back on its feet
- Higher website conversions
- Having several options for a viable future
- Better decisions and long-term plan