Editor’s Note

Hello. I love the month of September because that’s when I focus on the next calendar year and develop my plans and marketing strategies for the new year.  When I worked in the corporate world, I was usually swamped with budgets and financial documents as the planning process commenced. Simultaneously, my desk would be flooded with requests for funding for specific projects and other marketing initiatives.

If, like me, you intend to spend the next few weeks preparing for 2007 and outlining specific goals for your business by defining your vision, values and mission and applying them to specific projects, then you might find the business plan developed by Hardings a useful tool.

Consider: Are you moving forward with passion and purpose, or are you meandering along comfortably? How flexible is your vision for your business? Have you spent time developing and analysing strategies to deal with the changes likely to hit the accounting profession in the next few years?

Review the Essential Marketing Practices which I’ve outlined.  They may be useful in helping you identify specific actions that you’d like to take to increase brand awareness or to market your business.

Until next time…
I wish you marketing success!

Rebecca Laskary

In this issue

Essential Marketing Practices

Top 10 Business Tips

Harding’s Business Plan

There’s a proven marketing strategy that allows businesses to generate and retain high quality clients, without hiring external consultants. By implementing some simple marketing practices, you will be able to effectively promote your products and services to specific audiences and target markets. 

Here are some practical marketing strategies that generate real results:

• Develop your brand
• Identify your marketing objectives
• Market your services to a specific target market
• Develop and implement a marketing plan for your business
• Build your brand and the profile of your practice
• Introduce custom publications
• Effectively network
• Prepare and deliver powerful presentations
• Create and implement a client care program
• Monitor and measure the success of marketing initiatives
• Develop on-going public relations strategies

Click here to download the complete "Essential Marketing Practices" document (PDF)

http://www.marketing-for-accountants.com.au

1. Let more people know that your business has expertise. Create free seminars to educate your currents clients and prospective clients on subjects that are of interest or problematic to them, and where you can represent your company as a leader in the field.
2. Staff incentive plans are tricky. You don’t want to create unintended behaviours where employees are taking actions that reward them under their bonus plan, if it hurts the business. The plans that seem to work best are those where bonuses are paid after the business has met its targets and the owner is getting a good return.
3. Time management is about what it says: Manage your time. Take control. Plan. Make lists and decide what’s urgent. Choose a time when you will not be interrupted or just close the door, and clear up the important items. Delegate anything that you do not absolutely have to do yourself. Every single day.
4. Many managers do not hire competent staff because they feel threatened that their methods might be challenged. Never employ such managers. Let them work for the government or in big companies. Me, I always try to get the best people because it makes my job easier, and they make me look good.
5. Learn to be a delegator. Hire good people and give them responsibility; then manage them. It will take less time to train someone in a task than if you always do it. It’s far easier to grow as a company and far less stressful for you... [more...]

Accounting practices and other businesses should have business plans. Its important because while businesses may currently be operating successfully, the status quo is unlikely to remain constant. Change is inevitable. The rate of change is exponentially faster than it ever was, so that keeping up is now more difficult than ever.

Ten years ago, how many would have predicted the occurrence and importance of eBay, Amazon books, world shortage of fuel supply and global terrorism on the way we live our lives and conduct business?  On a local front, we have had the introduction of GST, John Howard celebrating 10 years as Prime Minister, unemployment below 5%, etc.

We may have predicted one or two of these events, but certainly not all of them. We are totally unprepared for the changes we will experience in the future. There is a new set of unknowns about to hit our radar screens.

Peter Perivolaris (who brings you the business tips every month) has developed a business plan for accounting practices and other small businesses.

Click here for a complete explanation of the components of a business plan, which will help you to define your business goals and develop your own plan for achieving them.

http://www.hardingsconsulting.com.au