Ever since childhood, you’ve loved numbers. You got an accounting degree and now you’re working happily with your own tax business. It’s great to be your own boss and help your clients face-to-face. But there are challenges, too, and you’d like to grow your tax business. Here are the three toughest issues independent tax professionals deal with, and how you can get past them.
Getting New Clients
As an independent accountant, attaining new clients sometimes presents an overwhelming challenge. To accomplish this undertaking, you must stand out in a marketplace that includes unqualified and fly-by-night operations by taking advantage of accounting business opportunities. The pervasiveness of the Web has provided an outlet for these types of untoward businesses to thrive. Likewise, potential clients may be skeptical or downright fearful of choosing an independent tax business, opting instead for a large firm.
Often, the best way for independent tax professionals to attract new clients is by impressing existing ones with accounting business guidance. Word of mouth can be your most effective marketing tool. Setting up professional looking pages on social media is also a great way to advertise your services, as is developing an attractive website filled with valuable content.
Meeting Client Expectations
To retain clients, you will need to meet or exceed their expectations. Oftentimes, this task is difficult for independent tax businesses. If you’re working alone, you might be required to meet all of a small business’ accounting needs on your own. In a larger firm, these tasks are often delegated to employees in different departments, such as tax and audit divisions. When working with clients, strive to under-promise and over-perform. Don’t take on more work than you can reasonably accomplish in a given time period.
If you find yourself overwhelmed, consider connecting with the Padgett Business Growth Program for Professionals, which offers tools and guidance to help you smartly grow your tax business.
Keeping Up with Technological Advances
If you’re an independent tax professional, you might struggle to keep up with advances in technology, especially if you consider yourself a tech novice. Because innovative technologies can help you complete your tasks more efficiently, continuously educate yourself regarding the latest tech trends with software to grow your accounting business. Attend conferences relating to technology. You might even want to hire a consultant to help you integrate new forms of technology in your office.