Profitability and being client-focused go hand in hand. Intellectually, all accountants believe this, but they have a hard time identifying specific actions they can take to maximize both profitability and client service. Over the years, I’ve observed specific client-focused activities that correlate to firm profitability.Here are 12 specific things you can do:

1. Make sure the firm’s objectives are aligned with those of the client. This is the most important step you can take to create a profitable practice. What do your clients need and want? While the question is simple, the answer often is not. Do your clients want customized solutions or turnkey answers? Do they want speed and efficiency? Do they need someone to hold their hands or challenge their decisions? What are your firm’s objectives? While all firms want to make money, this is not the primary reason for being in business. Profits flow from achieving your objectives.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access