As an accountant, you know the benefits your service has for your clients; from keeping them in line with legislation, to offering expert advice on key business decisions.

But do you know what’s really bothering them – what’s keeping them up at night? These specific challenges, also known as ‘pain points’ in sales terminology, are what will drive new clients to work with you if you’re able to provide the solution.

Understanding your clients’ pain points, and how they line up with your services, will help you to promote your firm effectively and provide an excellent service.

Lack of time

Whether you’re working with a client in the early stages of setting up their first business, or an established owner-manager, most accountancy clients will have one challenge in common: a lack of time.

They’re trying to manage everything that running a business involves, often playing multiple roles themselves. 

By handling their accounts, you’re able to relieve some of that pressure and allow your clients to focus on what really matters to them – whether that’s growing the business, or simply taking some time out.

Complexity

Tax is complicated. As an accountant, it’s easy to forget how confusing it is to someone who’s not well-versed in the topic. 

From preparing a profit and loss statement to calculating VAT, it’s all second nature to you. But to many new business owners, it might as well be another language.

With that confusion comes worry – am I doing it wrong? Have I missed something? Am I about to face a sudden fine, or an investigation from HMRC?

Your role as accountant can be just as much about shedding light on the complexities of tax legislation as it is about keeping your clients compliant. Again, this takes the pressure off, giving your clients more breathing room to run their business.

Keeping up with change

Over the last few years in particular, the economic and political landscape has been very changeable, and policies have followed suit. This is something we’ve all had to contend with – accountants have been left just as baffled by delays to new measures or changes in legislation as anyone else.

For business owners, though, changing tax and financial legislation can make it hard to plan ahead. As their accountant, you can offer valuable support just by keeping them up to date on what matters to them.

Cashflow difficulties

Cashflow problems are one of the biggest threats small businesses face. And if you don’t have the data and the know-how, they can be difficult to spot before it’s too late. 

In the current economic climate, this is an even greater challenge than usual. Expert support from an accountant on understanding, recording and forecasting cashflow is more important than ever. 

Your ability to see the detail in the figures, and explain in practical terms what it means for your clients, could prove invaluable for determining the steps they take to keep their business running.

Isolation

More often than not, owner-managers can feel isolated when it comes to tackling the challenges of running a business. This is especially true of smaller businesses. 

It’s hard to talk about business issues with friends and family who don’t have enough direct involvement to understand what’s going on, and networks don’t always offer enough support. 

An accountant’s level of understanding and involvement in the business gives them the ideal position to act as a sounding board and business partner. 

Your capacity for this might vary, of course. Some accountants – and some clients – prefer a more arm’s-length professional relationship. But for many accountants, building a close working relationship and offering support at a personal level can be what keeps those clients with them for years on end.

Capium is a fully integrated accounting and practice management platform, designed to help you provide the best possible service to your clients.

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