There are many different opportunities for any accounting firm to expand their client base – especially among the small businesses. That’s why increasing your client base and improving your client retention can definitely lead to a better outcome for your overall growth. Let’s take a look at some of the most significant aspects you can focus on now to improve your chances of selling your business in the future.   

• Construct a good company culture: Any potential buyer will look at the company culture that fits with his own requirements. And as a service provider we can’t control what he is looking for, but we can certainly focus our energies on buyers that we know will be interested in our services package. In this regard the culture your company has affects the most as your employees will reflect that in every action they do and in every interaction they will make with your potential buyer in person or over the phone or email as they embody the culture which is created in the company. So it is very important to build an effective culture in the company which attracts potential clients and gives them your vibrant image.
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• Follow the thumb rule-KYC: Every Client has his clear priority when it comes to what services he thinks as most important. As per the recent survey accounts payable, data analysis, and technological support are considered as the services they want the accounting firm to offer. By tailoring your offerings to match the standards your clients want most is one of the best ways to ensure more business and client satisfaction. It is not only about the services you provide but also how you solve your client’s problem which is the greatest challenge in these competitive times. By doing so you can diversify your offerings which are noticeable ways to put yourself ahead in the market.
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• Train employees to be an asset: Every business has its own unique style of work and culture. When a new owner comes he comes with his own mind-set and his own ideas to implement with his own perspective. What is important is that will change and new thought process be embraced by the employees or do they resist it? Generally when asked all the employees say they are open to change but actually they are not. So it is very important to train your staff members for the new changes, technology, and process and innovative practices which make them an asset for you and not a liability.
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• Put value in your service: Money is what the client pays and value is what the good accounting firms give back in return. So value pricing your clients is very important. Value addition makes your firm totally different than the other ordinary firms that only charges hourly basis and only give what is asked for and nothing extra. You need to manage client’s expectation beyond the billable hours.
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• Embrace Technology: Almost all the modern firms have adopted modern technologies and they have mastered the change. You need to keep an eye on the latest industrial developments and embrace them to fuel the growth and give the best to your buyers. Your staff must be trained in all they latest accounting softwares so that they can reciprocate accordingly to the clients emails and workings. If your staff is trained in IRIS then only the IRIS using clients will use your service but let’s say your staff know all the HMRC running softwares then the sky is your limit for the business.