True Success is Achievable

A Thriving Accounting Practice Awaits You

A few days ago I was asked what I do and why I do it. This wasn’t a new question to me; over the years many of my friends and family have asked this same question. In short, the answer is I work for Universal Accounting Center.My job is to enroll students in the various independent study programs we offer in accounting and tax. Generally that is enough information to answer that question for people, but today I want to share with you the whole story.More than a decade ago I was working as a headhunter placing individuals in mid to upper-level accounting positions. At times there were more positions than candidates and at other times the opposite was true. During a time in which I needed more qualified accounting candidates, I was introduced to Universal Accounting Center.It was here that I found candidates eager to apply their new-found skills and talents within the accounting profession, and more importantly they had a confidence which helped them in both temporary-hire and direct-hire opportunities.As time past not only did I have a history of successful placements but also consulting projects with the school. It was through this period of time that I had the opportunity to come to UAC full-time. Personally I felt that this was a very big decision as I wanted my next employment opportunity to be a challenge. I was still young and felt that I had at least 1 or 2 more great rides ahead of me and wondered if this would be the one to help me excel in my career.

Universal Accounting Center’s Success

Ten years later I could not be happier. It has not been without trials, hard work and periods of high stress, but working with the great staff at Universal, under the direction of its president Allen Bostrom, we have experienced success. The ride is far from over as there is still so much to do, but for 4 years running we have been recognized as one of the fastest growing 100 businesses in the state of Utah, and in 2006 we were awarded the 313th fastest growing company in the US by Inc 500. These are not all of the awards and recognitions UAC has received, but they are by far are some of the more prestigious.

The Best Indicator for Success: The Success of Our Students

But the best indicator of our success is defined by our graduates. Over the years I have meet with various students who are excited, poised to enhance their accounting careers with possible promotions and pay increases dependant on their soon-to-acquire new skills; quickly these students hunker down for a few weeks of study and then realize their goals. There are others who feel that they are at rock bottom and running out of options. Perhaps this was a career shift or something that they had not done for years but, with apprehension, started their studies and in time found the skills and confidence necessary to move forward and find that perfect job.Then there are those with ambitions of self employment. For however long, they have considered or desired the opportunity to break out on their own with a handful of clients. Perhaps they only needed a few to confirm that they could earn extra money. Then there are those who are a little bolder, with dreams of growing the largest practice in their area by offering premier accounting and bookkeeping services that they feel every businesses deserves.

The Will to Succeed

This is why I enjoy what I do. I work with a team of people that help individuals get paid what they are worth in their chosen profession of accounting, bookkeeping and tax. The thank-you letters or smiles of gratitude from students make it all worthwhile. I do what I do to read the success stories. Over the years I have met these individuals and watched them work hard to accomplish the things that they have.Consider the following:

What the mind can conceive and believe it can achieve. – Napoleon HillMan is made or unmade by himself;  all that man achieves and all that he fails to achieve is the direct result of his own thoughts. A man’s weakness and strength, purity and impurity, are his own, and not another man’s; they are brought about by himself, and not by another; and they can only be altered by himself, never by another. His condition is also his own, and not another man’s. His suffering and his happiness are evolved from within. As he thinks, so he is; as he continues to so think, so he remains. – James Allen

I have seen this manifested in these students and it continues to amaze me. It is the process of human struggle to better one’s circumstance that I am proud to be apart of as I work to provide for my family, putting a roof over their heads, clothes on their backs and food in their bellies. My family’s well-being is accomplished through this position I have at Universal Accounting Center. It is my privilege to be a part of this company.

What Our Graduates Are Saying

We wouldn’t want you to go on just our word alone because that would be, well, foolish. Here are what some of our graduates are saying about our programs:

UAC is the premier trainer of the accountants of the future. They truly understand how to differentiate their clients from the average accountants. To be honest, I don’t want anyone in my area to know about UAC. I think the information provided will truly separate my services from 95% of my competition. – Magnus E.The most comprehensive accounting training opportunity I have ever found. Well organized. The instructors were prepared and knowledgeable, as well as personable. The workshop was well worth my time and money. – Debbie D.Being from Canada, I was skeptical whether your company was really going to be able to help my business grow. You and your team members were so hospitable to the group! We gained the knowledge on what it takes to build our business, along with being able to see the results of your hard work. When you talked about “MAP” I realized the importance of what I was missing-marketing/sales. The greatest asset I received from the UPB workshop. I need to believe in my own value, no one else will, even if I am gifted at what I do. If I cannot express the value of my services, I will not be prosperous. I am a Profit Expert. I definitely felt the UPB workshop was well worth my commitment of time and money. – Cheryl C.

The Point of Change

But how do these potential students reach a point where they decide now is the time and UAC is the way to move forward and accomplish their desires. I will not presume to suggest that it is the same for all of the students I have worked with, but there seems to be a common theme, one I can understand and appreciate.For most people it boils down to two things: either they’re interested in taking advantage of an opportunity within the accounting profession or they are in the pit of despair and feel they have found a way out. The majority of those I have counseled are considering self-employment. They see UAC’s programs as a way to supplement their day job in an effort to improve their current situation. These individuals often ask themselves these questions:Question #1Is this achievable; is there a demand for the skills and expertise in the day-to-day application of accounting principles in business today?For over a decade the demand for accountants and bookkeepers has been increasing. Brent Inman of PricewaterhouseCoopers said, “It’s clearly one of the hottest markets (for accountants) that I’ve seen.” Consider the accounting forecast recently released by the US Department of Labor. For years Universal Accounting Center (UAC) has proudly shared prior reports that by 2008 accounting jobs would increase by 20%. That great forecast has been extended to 2014! They predict “Employment of accountants and auditors is expected to grow faster than average for all occupations through the year 2014.”So the answer to that question is yes; accounting services are in high demand.If you have asked yourself this question, consider this, who will your potential clients be? The answer to this question can be found in yet another question: What percentage of businesses need to perform accounting and bookkeeping? You’re right: 100%. Why? For countless reasons. Accounting is done to determine budget, ROI, taxes, to get lines of credit, etc.Of the 100% of businesses that need accounting services it is important to know which of them would be potential ideal clients. Out of those businesses, 92% have fewer than 20 employees. That includes the majority of opportunities in accounting. Those are the businesses you will want to target.Question #2Can I really make a good living offering accounting and bookkeeping services?At a minimum an accounting and bookkeeping service should be charging $30 to $60 an hour for those services. And the national average for monthly bookkeeping services is $300 to $400 a month ($500 total if you include tax planning and preparation services).So the formula is simple. Divide how much you want to earn, X, by $300 or $400, and you can determine how many clients you’ll need to meet your financial goals each month. Almost every time I do this exercise with someone, they have found that this is not only more easily achievable than they expected, but it is more profitable as well.The “Life Time Value” of a client is also important to understand so we can appreciate the importance of retaining clients. There is no reason to get a client only to lose them later. According to a recent AICPA study, the average client lasts 7 years, so if we take the average income resulting from one client in one year($3,600 or $4,800 in annualized billings) and multiply that by 7 years, we have the LIFETIME VALUE of just one client ($25,200 or $33,600). Isn’t that amazing?As for the time to service these clients, realize that it will take, on average, 8 hours a month to service each client. So when we you determine how many clients you need and multiply that number by 8 (since an average client takes between 6-8 hours a month to service), you can see how many hours you’ll have to work per month to service your clients’ needs.After answering those two key questions individuals quickly realize that starting their own accounting and bookkeeping service is not only achievable, but profitable as well.

The Professional Bookkeeper Program and the Universal Practice Builder Program: Guaranteed to Help You Succeed

Universal Accounting Center is here to help you start/build your business TODAY. To do this we have a tried and proven program specifically designed to help you in three ways:

  • 1st – Giving you the credentials and qualifications you will need to start/build your business.
  • 2nd – Train you in successful marketing strategies that will help you get clients quickly
  • 3rd – Inform you how to better service your clients in a very profitable way.

Nine of 10 businesses that you see everyday need your services and our program will help you find them and help you present your services to them so that they will understand how you can help them increase their bottom line.With our proven system you can target those companies and meet your goals now, instead of putting them off! This is also very profitable. With our proven system you will make at least $30 – $60 per hour offering accounting and tax services.With our help, your business would achieve the income, flexibility, goals, and dreams that you desire, and you could have your first or next client in 30 to 60 days. Imagine, you could have those new clients pay for the training that will start your business.The Free Support and Coaching is perhaps the most important benefit that comes with your enrollment as a student of UAC. This will enable you to be in business for yourself, but not by yourself. You have a team of professionals committed to guide you through the training process, as well as building your business. This team includes your academic advisor, a marketing coach, accountants, bookkeepers and CPAs, all available to consult with you on a case-by-case basis as you build your business!

  • You will be assigned an accountant or CPA to help you with your clients with accounting/bookkeeping questions
  • An accountant to help you with the accounting software questions that you may have as you service different clients (Peachtree, Great Plains, QuickBooks Pro, etc.)
  • And a coach to start our proven marketing program.

Our goal with these programs is to help you provide the services that your clients need so that they can see you as their Profit and Growth Expert. With our help you will do more than offer your clients accounting and bookkeeping services. To be the premier accountant in your community you will also focus on reducing their taxes, improving their profits and putting more money in their bank.On top of all of that our courses have a 100% money back guarantee. For the Professional Bookkeeper Program, it simply reads;”If, after completing the course, you feel the course didn’t live up to your expectation, simply return the materials to Universal, for a 100% refund of any monies paid.” Now, that’s more than fair, isn’t it?For the Universal Practice Builder Program it reads:”If after following the steps of the Universal Practice Builder for 12 months, you do not have an increase of more than $30,000 in annualized billings, then simply return all materials given and we will refund all monies paid.”Universal Accounting is committed to providing you with all of the tools you need to achieve the success that you desire; our courses provide you with the accounting knowledge, the extensive and practical hands-on experience, the certification, the step-by-step proven marketing model and the support necessary to help you become not just a full charge bookkeeper, but truly the profit and growth expert for your clients. You will have the knowledge and confidence to step into any small business situation, set up the chart of accounts, advise the business on how to get control of their cash flow, increase their profits and legally lower their tax burden. And remember, your first few clients will pay for the entire training. What are you waiting for? This is your chance to change your future.Learn More about the Universal Practice Builder & Professional Bookkeeper Program

Getting From Point A to Point Z in Your Career

Have You Ever Wondered: What’s All This Going To Do For Me?

(How you can get from point A to point Z in your career?)

There comes times in your life when you feel the need to sit back from what you are doing and ask yourself: What’s all this going to do for me? You have been plugging along in this wonderful world of accounting and bookkeeping. Perhaps you just fell into this line of work, or the opportunity arose for you to step up and help out in your company where there was a need and this fed your inclination to work with the numbers. Whatever the circumstance it was you find yourself at your desk, asking that important question.

With most in our profession and this includes those of us who received our college degree in accounting, that there comes a time when you realize that there is a next step to be taken, that, “What I’m doing now needs to go to the next level, but how?”

For those individuals we come in contact with at UAC it’s usually a question of, is where I am now going to get me where I want to be then? The drive to be better at what we do, to achieve more of what we have, and to gain more knowledge of what we deal with each day guides us to search out those additional helps and sources.

Here’s a laundry list of positions that are available for those of us who have chosen to pursue the world of accounting:

PRIVATE INDUSTRY

  • Chief Financial Officer (CFO)
  • Treasurer
  • Controller
  • Assistant Controller and Assistant Treasurer
  • Tax Manager
  • Accounting Manager
  • Senior Accountant
  • Accountant (General, Cost)
  • Internal/EDP Audit
  • Manager, Financial Analysis
  • Senior Analyst
  • Analyst (Financial, Budget, Cost)
  • Credit Manager
  • Assistant Credit Manager
  • Collections Specialist
  • Full Charge Bookkeeper
  • Bookkeeper
  • A/P Supervisor
  • A/P Clerk
  • A/R Supervisor
  • A/R Clerk
  • Assistant Bookkeeper
  • Accounting Clerk

Maybe you see your current position on there, more than likely you see the position you wish to have listed there. That next level is there for you and you need to find out how to get to it by gaining what you need to achieve (by way of experience and knowledge) to excel at the desired position. That is where Universal Accounting comes in!

Our programs are specifically designed with that next step in mind:

  • We have filled the training materials with timely and pertinent information you can use on the job the very next day.
  • Training courses that walk you through the tried-and-true processes, strategies, methods and tactics you can use in your accounting career.
  • You will have the hands-on experience it takes to bring what you’re learning to life through practice sets based on real-life businesses.
  • You will have the support of an Academic Coach as well as our resident CPA/Accountant Coach that can guide you through the steps you need to take to get to your next level, whatever that may be.
  • We back this all up with Universal’s Iron-Clad Guarantee

What’s all this going to do for me? You might ask? First of all it’s going to make your decision the easiest one you have ever had to make when it comes to your professional career and the direction it is taking. It will also allow you the assurance that you can gain that experience that has always kept you from reaching those goals you have set for your career. It will also bring into focus how you can achieve that dream you see yourself in, when you imagine what you will be doing in 10, 15, 20 years from now.

What all this experience and knowledge-filled training is going to accomplish IS UP TO YOU. You are the deciding factor in all of this. You decide whether you want to go with the most comprehensive accounting training available on the market, or not. You decide whether or not you can say with confidence that you can fulfill the duties asked of you by your employer, by your clients and by yourself. You decide how quickly you can rise above the rank and file and place your career on the fast track to that next level.

Look inside yourself and decide where you want to be and then come and enroll at The Universal Accounting Center for the training that will change how you look at your career and the heights you dare to reach for.

You can do it! You’ve waited long enough to make the move to getting for your future the difference between success and mediocrity. The easiest decision you can make is enrolling in The Professional Bookkeeper’s Course. Make the difference in success, The PB designation, work for you. Don’t delay!

How Volunteer Work Can Strengthen Your Business

A woman pointing her finger.Regardless of whether your accounting practice is a well-established business, a fledgling venture, or a dream in your head, volunteering can benefit the lives of countless individuals and the future success of your accounting firm.You may be amazed at how much you actually receive when you give. Executive Director of People Helping People Kayleen Simmons is quoted in Connect magazine as saying, “It makes volunteers better managers, bosses, people. As a volunteer, you end up being in a better place than you were beforehand.” Not only that, but it can give you a profound sense of purpose and make your work more meaningful overall.Here are 6 ways volunteering can benefit your business:

1. A Great Sense of SatisfactionAccounting is a valuable service, and when you provide that service pro bono, whether it be for a non-profit business or a community organization, you’re enriching the success of another business while enjoying great satisfaction of your own.2. The Ability to Increase ContactsAs you get out and interact with other professionals you’ll meet more people and will widen your professional network. And word will get out that you are a small business owner who is interested in building the community and doing good. That will only work in your best interest.3. Potential for Increased ClienteleWhile you may not get paid for your volunteer work, in the process of volunteering you’ll meet potential clients-other professionals and associates who may think of you the next time they need an accountant.4. The Opportunity to Work with All Types of IndividualsIt takes all kinds, right? A crucial element of gaining experience is working with different personality types. A good business owner is flexible and can adjust their approach depending on the person with whom they’re interacting. As you volunteer you’ll be exposed to various individuals who will give you valuable experience navigating professional relationships.5. Recognition and PublicityVolunteer work is an altruistic endeavor and we don’t want to demean it by focusing too much on the monetary benefits you will enjoy. But the truth is volunteer work will only bring good publicity to your business. If there’s any press to be had, it will be good press which means free marketing for your practice.6. The Opportunity to Give BackYou’ve enjoyed a certain amount of success from those clients who live in your community. Volunteering is a great way to demonstrate your gratitude and to give back.

If ever there was a win-win professional approach, it is volunteerism. We could list hundreds of benefits, but the one true reason to give your time is the way it will make you feel. There’s nothing that can beat that.ReferencesGerson, Vicki. “Benefits of Volunteering.” NFIB: The Voice of Small Business.O’Farrell, Jill. “Share Your Skills: Help Yourself While Helping Others Through Volunteer Work.” Connect. July 2007: 43-45.

Becoming an Idea Person Increases Your Value

I love Cracker Jacks. I can’t explain why, maybe it’s because I liked them as a kid. Maybe I don’t eat them very often; all I know is, I love Cracker Jacks. I also know that I am not alone. Cracker Jacks have been around since the early 1900’s. An icon of American culture. You don’t sing about a Snicker’s Bar at the baseball game, but we sing about Cracker Jacks during the 7th inning stretch.You might find it interesting to know that when Cracker Jacks was introduced there were a number of very similar snack foods. Little Buster, Yellow Kid and Honey Corn to name a few. Do any of these brand names sound familiar?What made Cracker Jacks such a success? I wish I could say it was because they were so good… and good for you, but it wasn’t that. (Tasty as they are.) It was the toy inside. The success of Cracker Jacks was the result of a very cleaver idea. A simple idea that made Cracker Jacks an American franchise.

OK… but Bookkeeping and Accounting aren’t Snack Foods

No, bookkeeping and accounting are much more exciting than that… and really creative too. Following trends, recognizing what works and what doesn’t, and finding creative ways to solve problems and improve systems makes the accountant a valuable asset. If a small business is lucky enough to have a creative idea person for its bookkeeper/accountant, that’s a lucky business.With the growth of the Mega-Merchandisers and Multi-National Conglomerates entering markets that for the last 100 years have been the primary domain of the small businessman, it’s more important than ever for a small business owner to posses a complete and thorough understanding of the financial health within his/her business.Often, the solutions to some of the complex challenges that small businesses face are not as obvious as you might think. Being able to creatively look at the here-and-now and innovatively approach any challenge is a skill that you can not only learn, but you can become very good at it too.

6 Steps to Becoming an Idea Person

Steven Gray of the Washington Post gives six suggestions for establishing what he calls your “Idea Person Credentials.”

  1. Be Willing to Take Risks: It’s always easier to just sit back and let someone else take responsibility. You need to be willing to stick your neck out a little to come up with creative and innovative ideas for improving an existing process or solving problems within a broken system.
  2. Develop Ideas by Reading Widely, from Pop Culture Magazines to Academic and Business Journals:This is an easy one for me, I like to read. I’ll read just about anything. Keeping up to date on what’s going on in the world around us, reading the trade journals that apply to your client’s business , keeping up with the latest accounting trends and then incorporating them into your “bag of ideas” is the first step.But that’s not all, your clients will benefit from the fact that you have several clients. Your experience with a number of different businesses and industries, allows you to pull from a “bag of ideas” that encompass a much broader scope than the person whose experience is limited to a single industry.
  3. Observe and Listen in Order to Understand your Client’s Organization’s Mission and Culture: How you present your ideas is just as important as the ideas. Make sure you have an understanding of the company’s mission a culture so you can present your ideas in a forum that your clients will understand.
  4. Tailor Your Idea to Fit Your Client’s Organization: Your great idea might apply to any number of businesses, but if you don’t taylor it to fit your client’s needs and organization, it won’t be accepted. Don’t assume that they will be able to make the leap of understanding. It has to be easy to understand in the language of their busine ss.
  5. Identify the People Who Can Help Shape the Idea Before It’s Presented: Find a coach. Someone who knows the ins-and-outs of your client’s business (and your client) and can help you frame your ideas so that your client accepts them for consideration.
  6. Know Your Client’s Personality: We all accept and understand information in different ways. Some people are more visual than others… you’ll need to take that into consideration. To be considered an Idea Resource for your clients, you’ll need to make sure you understand them well enough to communicate in the way that they understand the best.

First… You’ve Got to Produce Results

Before your clients will trust you with ideas, they’ll need to see that you can get things accomplished. We all know people who have lots of great ideas, but never do anything. You don’t want your clients to perceive you as someone like that. Build your reputation as a performer first, then your clients will make an easy transition to seeing you as their Idea Person.

Opportunities Through the Skillful Use of Small Business Bookkeeping and Accounting Principles Has Never Been Greater

Small businesses need the expertise that you bring to the table. Bookkeeping and accounting are often somewhat neglected by many small business owners. Unfortunately, they don’t have a complete understanding of why this is so important.That’s why Universal has been teaching the ins-and-outs of small business bookkeeping and tax accounting for over 25 years. It’s a critical part of the profitability and success of every business and Universal Accounting is the small business profit expert. Learning bookkeeping and tax at Universal gives you all the tools you’ll need to become a skilled and qualified small business profit expert too.Our job, as bookkeepers and accountants, does not stop with the input of data from sales receipts and payroll ledgers. The real benefit we offer the small business owner is our understanding of what all the numbers mean. The ability to interpret the financial data is vital for the long term health and even survival of many small businesses.This understanding enables our clients to make informed decisions concerning their businesses. As important partners and idea people in their businesses we offer information and advice that directly effects the success or failure of every business. Follow the link below and learn more about what the bookkeeper and tax accountant have to offer a small business and how becoming that financial “Idea Person” will help you create the lifestyle that you and your family are looking for.Click Here to Learn More About Becoming the Financial Idea Person for Your Clients and Earning More Income

Is it Time to Hire a Support Staff? (Part One of a Three-Part Series)

A 7-Question Quiz to Help Determine Business Readiness

Most contract accountants encounter a time at which they must decide whether or not they are ready and willing to grow their business by hiring a support staff. Some are satisfied with their current workload and income. Others realize that an influx of clients means more demands on their already limited time. These accountants realize that by hiring even one employee they may be able to increase their capacity and their bottom line. But how do you know if your business can sustain one or more employees? Here are 7 questions you can ask to determine if your business is ready for a support staff:

1. Can current cash flow sustain a new employee?Are you making enough money to actually pay an additional employee? Obviously you’re hoping that with some help you could earn even more money. But if your current cash flow doesn’t provide that wiggle room necessary to add someone to your payroll, you may consider increasing your clientele before you increase your staff.2. Is your business stable enough to assume the risk?You must look at more than just cash flow to determine whether or not your business can sustain a new employee. Weigh current debts against your income in order to determine whether or not your business is stable enough to assume the risk a new employee would bring.3. Does your current work load require additional help?The last thing you want to do is hire someone who doesn’t have enough work to keep them busy. If you or your current staff is collectively managing a workload that could keep another person busy than you should consider hiring additional help. Also, if your personal life is suffering as a result of overtime, you should consider lightening your own load by hiring someone to share that burden. Otherwise we suggest waiting until your workload justifies the additional help.4. Is your current need for help long-term or temporary?As you question your current need for help you should remember that a full-time, long-term employee will still be on your payroll when your practice hits a yearly slump or encounters a lull in business. Is a temporary employee more practical? It’s easier to make a temporary employee permanent than it is to make a permanent employee temporary.5. Are your competitors hiring?If your competitors are growing their businesses by hiring support staff you may consider joining them, especially if you want to maintain a competitive edge. And depending on the type of talent they’re looking for, the sooner you place that want-ad, the better. If hiring, you want to ensure you have the prime pick of the talent pool.6. Can you pin-point exactly what type of help you need?Before you begin the hiring process you must first determine the type of help you’ll need. An administrative assistant will come easier than an entry-level accountant. Assess your needs to determine exactly what type of position you’ll be “opening.” Also, list the specific tasks you’ll expect them to perform; this will better enable you to define the position and what skills will be required.7. Is there a sufficient talent pool from which to draw applicants?Now that you know what type of applicant you’ll be looking for, do a little research to determine whether or not your area has a sufficient talent pool from which you could find a qualified employee. Waiting (even a number of months) to hire just the right person is better than rushing to hire the wrong one.

Growing your business by hiring a support staff takes time and considerable forethought in order to ensure you’re taking the necessary precautions as you move forward. If you’ve decided that you do indeed need to hire a support staff, come back next week when we will be discussing how to ensure you pick the right applicant.

Next Page »