As a business owner, you want to increase your profits, expand your talented workforce and enjoy the rewards. And there’s only one way to guarantee that…
Bring in more clients.
Here’s 5 ways to grow your accountancy practice in 2020…
Reduce – Reduce costs, and reduce time spent on certain tasks, by embracing digital automation. There are some pretty clever and simple pieces of software which can make certain business processes automatic and streamlined – freeing up the time of your employees, reducing business costs, as well as meeting the expectations of your demanding clients.
Think about invoicing, expenses, practice management, payments and emails. Automation can eliminate repetitive tasks in all areas of your business. And where can you spend all of that extra free time? Bringing in new clients!
Reach – We considered calling this one “Roll up, roll up!” To get new clients, you need to set out your stall – have a great website, be present on social media and advertise. In other words, let everyone know who you are. Now, accountancy firms aren’t always the greatest at this. That’s why you need someone who is to do it for you. Engaging a marketing agency or freelance social media manager is great way to get an expert on the case without investing in a full-time staff member.
Despite gloomy forecasts and headlines, a strong bounce back is predicted for 2021 with marketing budgets set to increase by 6% according to Marketing Week. Those businesses who invest in marketing will benefit in the near-term, and set themselves up for greater growth in the long-term.
Relationships – They are at the heart of every single thing we do. And just like any other relationship, client connections need to be nurtured. Making an extra effort to improve customer service, establish loyalty and be available whenever they need you – will pay dividends. The same applies to your workforce. Spend time on building the relationship you have with the people you work with. Especially this year! They need to feel valued and understood. And it goes without saying that relationships with local businesses and communities have never been more key. When was the last time you reviewed your CSR policy?
Recruit – “Having a talented workforce is the future of your firm, and while you may feel cautious about recruiting at the moment – having a strong talent pipeline is vital to business growth. And just as we would advise on engaging an expert to manage your marketing strategy, having an expert accountancy recruiter onboard has all of the same benefits. You get to do what you love, while we use all of our expertise to grow your business.” Garry Howling, Public Practice Recruitment Ltd.
Reward – What’s the point in putting your heart and soul into your practice, working long hours, getting home late at night and not enjoying the fruits of your labour? We know from speaking to accountancy practice owners like you all the time, you’re the first to reward staff, clients and partners before you give yourself a look in! And yes it is important because you need to be happy, healthy and positive in on order to run a successful business. And the moment you start to see, and reward, yourself like an employee or an investor – you’re going to feel even more motivated. And in turn, that’s going to be great for business growth.
It doesn’t have to be financial – it can be more meaningful…a day off, a weekly massage, a new bike to get to the office or an afternoon nap?! You’re the boss after all.
If you would like to partner with a professional recruitment company to help grow your business in 2020, please get in touch today.
We know how candidates think – how their minds work. When it comes to all aspects of the accountant recruitment process, we’re the experts – always here to help.
Call 0333 577 778