Hiring an Accountant

When dealing with your business’s money it’s crucial to find a reliable accountant you’re comfortable with.  Use these tips when searching for a trustworthy accountant and accounting firm.

Tips for Hiring an Accountant:

Get Recommendations.  Ask business colleagues, your banker, or other business professionals to refer a reputable accountant. You can also find trustworthy Certified Public Accountants (CPAs) through your state’s Society of Certified Public Accountants website. Always remember to check out every candidate at bbb.org to read reviews or complaints from previous clients.

Check Credentials.  Find out if the accountant is a Certified Public Accountant (CPA). To work as a CPA, the accountant must obtain an undergraduate degree, pass an exam, and meet the experience requirements. A CPA must also participate in continuing education classes to remain licensed and certified, as well as, abide by certain ethical accounting standards.

Determine Size.  The size of the accounting firm you choose will depend on the size of your business and what types of services are needed. Large accounting firms have more resources, while small firms will be able to provide more one-on-one personal contact. Whomever you choose, be sure you feel comfortable with them because you will need to trust them with sensitive financial information.

Interview Candidates.  When interviewing candidates, it’s important to look for an accountant that has a vast amount of experience specifically in the area you need. Be sure to ask about the types of services they provide and which areas they specialize in. Some firms will be able to provide more in depth services, like financial planning advice, retirement planning, and employee benefit planning, while other firms may specialize in preparing tax returns and end of the year financial statements. Be sure to get to know the people who will be working with your account.

Request References.  Ask the accountant or accounting firm to provide references you may contact. Ask the references how often they are in contact with the accountant throughout the year. Ask what type of services the accountant provides for their business and if they are satisfied.

Discuss Fees.  Be sure to ask about service fees upfront. Find out if the accountant charges by the hour with an additional fixed cost or if they charge monthly. Get an estimate of the annual cost for the services you are purchasing and compare the bid with other accounting firms. Keep in mind you will usually get what you pay for, meaning an experienced accountant will charge more for their services, but will usually be worth the money.

FTC Privacy Rules - What You Need to Know

Small businesses need to know what the Federal Trade Commission (FTC) is recommending in their 72-page report on consumer privacy about how customer personal information should be handled online and offline. Here are five points small businesses need to know about the FTC recommendations as U.S. data-privacy regulations evolve.

The report doesn’t actually establish any rules. It does make recommendations to Congress for developing new consumer-privacy rules and offer best practices for businesses.

Some small businesses don’t need to worry. If you only collect “non-sensitive” consumer data and don’t share it with third parties, your business is exempt from the FTC guidelines. However, if you are collecting Social Security numbers and financial, health, children’s, and geo-location information, then take notice. Furthermore, if you collect any data from more than 5,000 customers each year, or if you share with third parties, following FTC best practices is recommended.

Common sense goes a long way. If you are practicing transparency and simplicity, you are doing well. Be upfront with customers about what information you collect and why. Keep privacy policies simple and easy to understand. Give customers a chance to opt out when applicable.

“Do Not Track” is coming. Web browsers such as Mozilla Firefox already have privacy tools that allow consumers the feature to limit data that is collected about them. The Digital Advertising Alliance has a tool for members, too.

Pay particular attention to mobile data. The FTC report says, “The unique features of the mobile phone which is highly personal, almost always on, and travels with the consumer have facilitated unprecedented levels of data collection.” As a result, expect more guidelines or regulatory requirements.

Be aware of what information is collected, what happens to it, and how the privacy policy is stated whether you are the business or consumer.

Five Steps to Building an E-Commerce Site for Your Small Business

Expanding your business into the world of e-commerce is a huge step. It can be expensive, time consuming, frustrating and at the same time, the most rewarding adventure you’ll ever take!  If done properly, a world of customers await your product or service. On the other hand, if done in haste, it can have negative financial consequences.

Here are five steps to help build an e-commerce site:

1. Start with a plan:  Have a 3-year business plan before you get started, and update the plan as your business changes and grows. Local organizations and online webinars are available to assist small business owners with the development of a business plan.

2. Name your site:  Creating a website is a primary goal for any e-commerce business. However, before you get that far, you need to name and register your website. Choosing a name can be hard; it has to be unique, reflective of who you are and what you are offering, while being catchy and memorable.

3. Assemble your pages:  You’ll need pictures and descriptions of your products and services to display on your site. There are copyright laws for pictures and content on the Internet, so be very careful when using anything without permission; fines can be very costly.

4. Setup Payment Processing:  Once your web site is active, you need to be able to accept payments for your products or services. Choosing a credit card processing company and possibly opening a PayPal account are good options for processing payments. Before you start taking credit card payments, you need to make sure you are Payment Card Industry Data Security Standard (PCI DSS) compliant. This means you are able to protect your customers’ credit card information. Online merchants are prime targets for data thieves. If data is stolen and it is your fault, you can incur fines or penalties and may even lose your right to accept credit card payments. Most processing companies take care of this for you, but research ahead of time to avoid issues.

5. Start marketing:  The most important part of the e-commerce puzzle is being found. There are many ways to help customers find your site, but most of them involve paying for advertising. Over time, your site will show up naturally in search engines, but the top positions can be purchased (known as pay-per-click). Writing articles and blogs with links to your products is also a free way to increase your relevance online. Lack of a good marketing strategy is the biggest pitfall to an e-commerce site. Spending money that doesn’t turn into sales can sink a business. Constant testing of ads and writing information that readers are interested in will continue to build strong foundations for a successful e-commerce sites.

Website Design Services

The Internet is a huge resource for consumers so it’s important for businesses to have a strong presence on the web to attract customers and market their brand. If your business is looking to set-up or revamp your website, you may need website design services to provide the right tools. Use these tips as a guide when searching for web design services.

Tips for Hiring Website Design Services:

Determine Necessary Functions.  Think about your business and determine whether your website needs a specialized design or if a simple template will be able to do the job. Keep in mind how your website will be used by your customers. Ask yourself if the website will need to function as an online store or if the website’s sole purpose is to market the business.

Do Your Research.  Ask co-workers and other professionals to recommend web design businesses. Check out businesses at bbb.org to read reviews or complaints. Find out how long the web design service has been doing business and what types of websites they have designed.

Check Out Their Portfolio.  Explore the websites in their portfolio. Make sure the websites convey the proper message for the specific business and the website is user-friendly. If you don’t feel like the website professionally portrays the business, you may want to look into different website designers. Be sure the website incorporates the latest marketing trends and tools. 

Request References.  Request a list of references from the website design business and ask to contact previous customers. Ask the references if the business is reputable and if they were completely satisfied with the services provided. Check to see if the references are still using the design that was shown in the portfolio.

Understand Costs.  When working with a budget, especially a limited budget, it’s important to get the best value for your money. When checking out web designers, look at what the designer is able to provide you. Although one designer may be cheaper, they may not be offering as much value for your money as a designer who is a little more expensive.

Be Sure You're Comfortable.  The web design business should be easy to work with and you should feel comfortable telling them your ideas and opinions since you’ll be working together on the job. Be sure there is always a way to communicate so you are able to get the website you desire.

What Motivates a Customer to Buy?

What motivates a customer to buy from one company and not another? Do you know why your customers buy from you? If not, here are some motivating factors they consider when choosing a company to do business with. 

Convenience: This can be provided in a number of ways, such as the hours you're open, your method of delivery, a user-friendly website, and/or your physical location. If you make the buying experience convenient for your customers, then they're more likely to pay a premium for your service or product. 

Best Value for the Price: Everyone is watching their pennies these days, so price does matter. Prospective customers will most often seek out the best product or service if the price is right. In addition, if they perceive the benefits being offered by two competitors to be the same, a customer will choose price as the tie breaker.

Personal Attention: Potential customers are more likely to buy if your employees are courteous, helpful and attentive. Make them feel as though they are the most important person in the world.

Ease of Buying: Do you make it easy for customers to buy from you? For instance, is your ordering process user-friendly? If you have a storefront or office, is parking convenient and accessible? When someone calls your business, do they have to go through a maze of prompts before they reach a live person? All of the above will either entice or deter a potential customer from buying your product or service. 

Honesty and Integrity: This is very important to customers who may have had a bad experience with one of your competitors. To ensure "peace of mind", make it be known to your customers that you're BBB Accredited by using our logo in your advertising and marketing materials.

Increase Sales Without Spending a lot of Money

Increasing your sales doesn’t always have to mean spending money. Take a look at what is already working for you, and find ways to build on those successful elements. The Direct Selling Education Foundation, a BBB National Partner, recommends the follow ways to increase sales without increasing your spending:

Identify top customers and offer them more. You likely have loyal customers who spend more on a regular basis than others. Identify those people and offer them more than they already get. For example, start a VIP program where top customers receive special promotions, incentives, or exclusive access to new products and services. When your top customers know how much they are appreciated, they will not only embrace that “VIP” role by patronizing your business more often, but they will want to share their positive experience with their families and friends. Superior customer service can have far-reaching effects on your overall business.

Customize your sales pitch for each client. Each client is an individual and should be treated as such. Don’t go with a generic sales pitch that every single client hears. Do some research about each person, and incorporate something personal about him or her into your pitch, especially if it’s something you share (an interest in sports, a community activity). When you can relate to clients on a personal level, they will be assured that you have their best interests in mind.

Increase goals for referrals and sales will increase. Bump up your goals for getting referrals. It doesn’t have to be a large jump, but setting the bar higher will motivate you to work harder and acquire more. Instead of shooting for 5 a week, increase your goal to 7 or 8. Make the time in your schedule to meet this new goal, and you’ll find your sales increasing steadily over time. Each time you find that you are meeting the goal on a consistent basis, consider raising it again. Your business should never run in a straight line, but should always be heading in an upward direction to maintain growth and successInteract personally with customers more frequently. This may come easier in a retail business, but no matter what type of business you run, make the effort to interact with customers on a personal level as often as possible. Learn their names and one or two facts about them. People love going into a place where they feel like more than just a number. One customer of a local deli states that the moment she realized she would never take her business elsewhere was when the owner greeted her by name, asked how her daughters were, and offered her “the usual.” It’s a comforting feeling for a customer and will go a long way to acquiring loyalty and appreciation.

Find ways to improve upon what works for you, break out of your comfort zone, and always look to set the bar higher for yourself and your business.
Customize your sales pitch for each client. Each client is an individual and should be treated as such. Don’t go with a generic sales pitch that every single client hears. Do some research about each person, and incorporate something personal about him or her into your pitch, especially if it’s something you share (an interest in sports, a community activity). When you can relate to clients on a personal level, they will be assured that you have their best interests in mind.

Increase goals for referrals and sales will increase. Bump up your goals for getting referrals. It doesn’t have to be a large jump, but setting the bar higher will motivate you to work harder and acquire more. Instead of shooting for 5 a week, increase your goal to 7 or 8. Make the time in your schedule to meet this new goal, and you’ll find your sales increasing steadily over time. Each time you find that you are meeting the goal on a consistent basis, consider raising it again. Your business should never run in a straight line, but should always be heading in an upward direction to maintain growth and successInteract personally with customers more frequently. This may come easier in a retail business, but no matter what type of business you run, make the effort to interact with customers on a personal level as often as possible. Learn their names and one or two facts about them. People love going into a place where they feel like more than just a number. One customer of a local deli states that the moment she realized she would never take her business elsewhere was when the owner greeted her by name, asked how her daughters were, and offered her “the usual.” It’s a comforting feeling for a customer and will go a long way to acquiring loyalty and appreciation.

Find ways to improve upon what works for you, break out of your comfort zone, and always look to set the bar higher for yourself and your business.

Is Your Digital Marketing Outdated?

Businesses worry about keeping their computers up-to-the-minute. But what about your digital marketing strategies? Are they way older than Windows 07? Meet Michael Lovas, multi-book author and man behind the psycho-social marketing strategies of the Spokane firm About People (along with wife Pam Holloway.) “A lot of bad advice was good advice ten or 20 years ago,” Lovas says, “But with digital media, people began reading differently. The old approach to layouts and writing ceased to [be effective.]” Lovas says first impressions mean design and content. “If those aren’t presented right, your message will likely go unread.” Statistics have shown that most people leave a webpage after ten seconds, reading no more than 120 words. (By the end of this sentence you’ll be on word 126.)

Five Quick Don'ts:
1. Don’t assume email is the same as direct mail or that people are itching to read it.
2. Don’t treat your website like a brochure, with long sentences, long paragraphs, and no subheads. 
3. Don’t fill your company blog with irrelevant personal anecdotes and lofty pontifications. 
4. Don’t build the top of your marketing page around a pretty, generic image that has little to do with your business or your customers. 
5. Don’t clutter the top of your website by cramming too many elements into it.

Five Quick Dos:
1. Do your homework. Know that people only skim digital marketing, moving their eyes in an “E” or “F” pattern—not the older “Z” reading formation. 
2. Do give the reader visual stepping stones: subheads guiding the eyes to points of relevance in descending order. 
3. Do use sidebars, quotes, or graphics to break up large chunks of text. 
4. Do keep in mind that your website needs to reflect what your customers want to learn—not what you want to say. 
5. Do link to something your visitors will find valuable.