11 Ways to Accelerate Your Success in the Cloud

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Agenda Intro & Why We’re Here 2 big mistakes to avoid when starting your business 2 client management pitfalls and how to handle them when (not if) they come up

Agenda 3 questions from accounting clients that you will need to be prepared to answer 3 tips on transitioning clients to cloud accounting 1 resource that will help you profit from cloud accounting services

Introductions Michelle Long, CPA, MBA – Founder of Long for Success, LLC – 1 of 10 Women Who Inspire a Profession by Accounting Today – Small Business Influencer Awards – Community Choice Winner – Financial Services Champion of the Year by the SBA – National trainer for Intuit – Author of Successful QuickBooks Consulting & How to Start a Home-Based Bookkeeping Business

Introductions Sandi Smith Leyva, CPA, CITP, CGMA – Founder of Accountant’$ Accelerator – Intuit writer since 2001 – Author of 6 books and numerous products – MS in Neuroscience – Copiloted airplane around the world

Introductions Accounting professional Starting, re-starting, or cloudifying your business

CPE “I want CPE” Sandra L. Leyva, Inc. is registered with the National Association of the State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website

Speaking of Mistakes Michelle – The day I went to the library to research a tax rep client Sandi – The day I had a car wreck in between QuickBooks clients

2 Big Mistakes Pricing Your Services Too Low – Why? Lack of knowledge about average billing rates Lack of confidence in the value of your service Lack of clients – Consequences – Alternatives

2 Big Mistakes Not Identifying Your Ideal Client (and Marketing to Everyone) – Why? Lack of clients Lack of clarity of services Lack of knowledge about effective marketing – Consequences – Alternatives

2 Client Management Pitfalls Unpaid/Disputed Invoice. – Reactive: Contact ASAP: the older the bill, the less likely it is to be paid. Listen; the client could have a valid point. Stand your ground if you feel you are right. Accelerate: Report your data to the credit bureaus (Experian, Equifax, Transunion), small claims

2 Client Management Pitfalls Unpaid/Disputed Invoice. – Prevention: Get paid in the cloud Stay in communication Get half up front Notice warning signs Do a credit check Have a credit limit, cut them off

2 Client Management Pitfalls Unpaid/Disputed Invoice. “Does your mother know you haven’t paid this bill?”

2 Client Management Pitfalls When you don’t get answers on a timely basis. – Write this in your contract; have an accountability section – Use a clearing account, class, item, etc. – Use a project management system that s them daily (it’s not you) The cloud will do this…

2 Client Management Pitfalls When you don’t get answers on a timely basis. – Keep really good notes of conversations; let client know the consequences – Ask if there is someone else on staff you can work with – Ignore them; put the project on hold. Billing and payment should not be tied to getting answers.

Sample I wanted to reach out and make sure you weren’t waiting on us. We have a couple of questions we need your help on before we can move forward. Can you let me know when would be a good time to talk about these? Here are some available times: Would any of these work for you?

Questions

How to Ask a Question If you are OK with dialoging with us – Type in the box and raise your hand. We will unmute you and we will talk If you prefer NOT to be called on: – Type in the box. We will answer and it will be a 1-way conversation.

For best results Click “Telephone.” The phone number will appear with an audio pin.

3 Questions from Accounting Clients How much do you charge? – Don’t answer immediately – Evaluate potential client – Evaluate their situation and needs – Communicate your fees and policies clearly and confidently

3 Questions from Accounting Clients Will my data be secure? – Fear of the unknown – Listen – ask them to clarify their fear and concerns – Educate – without getting too technical – Reassure

3 Questions from Accounting Clients My relative can do my books. He just needs a few questions answered. – Inquire why they want to do it? – Clarify – ask about their education, experience and qualifications – Plan – training, check ups and support

3 Tips on Transitioning Clients to the Cloud Do a before and after on costs. Include intangibles. CurrentCloud #1Cloud #2 QB Premier Software$399 $324 Hosting Fee0$600 Bookkeeping hours – internal (savings – file transfer, restore) $10000 Consulting – external$1500$1000 Conversion costs – one-time$500$200 Anywhere, anytimeNoYes

3 Tips on Transitioning Clients to the Cloud Be ready for the irrational emotional aspect of change itself. – Approach the right clients – Have them log into a demo (hold their hand) – Address security issues, but don’t talk over their heads (SAS 70 Type II, SOC, HIPAA, Encryption) – It’s scary handing over private financial data

3 Tips on Transitioning Clients to the Cloud Make a step-by-step transition plan – What, who, by when Sign up for service Receive log-in script and passwords Test login Upload file Test interfaces, backup Report bugs if any Train users on new access

1 Resource that Will Help You Profit from Cloud Accounting Services First Annual Ultimate Accounting vCon – 5 Quantum Trends in Accounting Services and How You Can Benefit – Michelle’s 7 Hottest Tips for Starting or Re-Starting Your Own Practice – Cloud Computing 101 Panel: From Understanding to Client Implementation

1 Resource that Will Help You Profit from Cloud Accounting Services First Annual Ultimate Accounting vCon – 5 Ways to Make Money from Cloud Accounting (and How to Price It) – The Apportunity – 5 Best-Kept Secrets About QuickBooks Online for Accountants – Accelerating Your Success in the Cloud

1 Resource that Will Help You Profit from Cloud Accounting Services First Annual Ultimate Accounting vCon – 12 webinars, 12 hours of live CPE – Training – Exhibit hall – Community forum for Networking – Win stuff – Bonuses – handouts, videos – Interact with us

Accounting vCon If you can’t travel If you’re on a tight budget and want to learn If you’re considering starting your business If you’ve had trouble convincing clients to move to the cloud or haven’t tried If you want to keep up with trends If you need CPE

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Register by August 31

Questions

How to Ask a Question If you are OK with dialoging with me – Type in the box and raise your hand. I will unmute you and we will talk If you prefer NOT to be called on: – Type in the box. I will answer and it will be a 1-way conversation.

For best results Click “Telephone.” The phone number will appear with an audio pin.

Your Action Items What one thing will you do from this webinar? Mark your calendar, to do list, project management system, etc.