Switch Accountants Today!
The reasons are many and the rewards are substantial. As a former CPA who sold tax services, I often spoke with accountants who were reluctant to make the transition due to the perceived risks. The reality is that the risks involved in providing bookkeeping services are much less than they once were. In fact, some of the changes are too recent that most CPAs do not have an inkling of them.
Reason of Accountants is the Economy?
Perhaps the biggest reason you should switch accountants is the economy. The current economic climate has been the toughest on accountants nationwide. With unemployment on the rise and companies struggling with cash flow issues, it has become harder for them to earn their keep. Business credit has tanked and cash flow is drying up for many small businesses.
That does not mean they should close down. It does mean they need to focus on growth. Many CPAs have decided to take a different approach by re-evaluating their client base and tailoring their offerings to meet the needs of a specific group of clients. This has given them the opportunity to build a customer base and expand their offerings.
Some have done this by focusing on one niche. For example, many CPAs now offer financial planning services to corporations, insurance companies, and hospitals. By taking on these clients, they have the opportunity to increase their revenues while not affecting those who are in need of their product. They also have the chance to create a loyal customer base, one that will continue to buy from them in the future. All without having to change their business name!
The other major reason is the risk factor. The industry is volatile and has come under fire in the past few years for some of its practices. However, the vast majority of CPAs continue to operate within the framework of the rules and regulations outlined by the FPA. Many have taken on jobs that have lessened their own personal risk but increased the risk of others.
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Effectively Enough to Profit
If this type of business is not what you want to do, then you still need to determine if you can do it effectively enough to make a profit. There are a lot of opinions out there about whether switching accounting is a good idea or not. Many assume that you have to spend thousands of dollars and invest a lot of time and energy in order to succeed. Others feel that this type of business can be lucrative and do quite well with it. As always, the most important thing is to decide what works for you and your family and if you are willing to commit those key traits to it.
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Lack of Growth Opportunities
Some of the most common reasons people seek out to switch include the lack of growth opportunities within the industry and the risks associated with working with an unstable industry. While it can certainly be true that growth opportunities are scarce, there is no reason to jump into the unknown. A variety of different bookkeeping and accounting services are available today that can be customized to meet all of your individual needs. This allows you to be in charge of your own financial future without having to worry about things like stability in industry.
Why are you still doing the same old thing that you have been doing for the last 10+ years? Is it because you haven’t had enough time to come up with new ideas or are you just inertia and laziness preventing you from moving on? Either way, the time has come for you to switch accountants and get yourself a new one who will be dedicated to your business and will give it his very best. Don’t let your business lapse and let the opportunity pass you by for another accountant as you have missed out on many great opportunities over the years. If you wait any longer, you are going to miss out on more money than you earn in your business.
The reasons why you should switch accountants should be all based on personal preference and financial needs. No matter what type of professional you are looking for, you can find the right one for you in the world wide web. The first step is to take some time to explore the possibilities. From there you will be able to decide if this type of business makes sense for you.
Are you ready to go though the process of switching accountants today? Make sure that the company you choose is the right one for you and your needs. Don’t rush into it; make sure you have time to get through the entire process before making your final decision. This is the only way to ensure that you will end up happy with the new accountant.
