An accounting firm has all the necessary information to keep their own books in check. What is there to be missed? After all, an accounting firm is in the business of keeping track of finances and making sure that budget is in check.
One would not think that they need any coaching at all. Well, this would be true if accounting was only about analyzing and reporting financial information. The truth is that there is a lot more to a business that is needed to stay afloat.
If accounting companies really held the holy grail of a perpetually successful business we would not see any of them fall.
The subject of an accounting company has to do with other company’s finances. It is B2B at its finest. On the other hand, an accounting company must perform as the businesses they serve. This means that there are other aspects to take care of: marketing, sales, and budget.
That being said, there are at least two aspects that an accounting business might fail: marketing and budget. It is easy to either find a company that does not have many jobs or one that has too many and does not have the workforce to honor them all. Either way, the bottom line does not seem to improve and the cash is not flowing yet.
When there are not enough jobs, then the accounting company must start to make adjustments. This is when the company must consider getting a much-needed business help.
What will a business coach do?
The job of a business coach is to provide solid advice on how to better approach the company’s business needs. You as a company need to get on the phone and start getting some serious coaching.
First, they will listen to your case and then verify that they understand the situation. They will require access to the books and with this check your liquidity and return. This should not be a problem for an accountant company. It seems like the financial situation is taken care of. The problem is that this is probably not the problem.
Usually, business coaching is charged by the hour. Whenever it is required, you pick up the phone. In some cases, they will make home visits to your company, which are absolutely necessary.
Probably the first step into coaching an accounting firm is to generate an effective marketing plan. Then, the company will consider