As the business and finance landscapes evolve, staying ahead of the curve becomes more and more important. But there’s one thing that will never change: your clients’ desire to grow their businesses.
The accountancy profession has always been a trailblazer in finding innovative approaches to business growth. You are uniquely placed to support your clients through their growth plans, helping them navigate whatever forks in the road might crop up. Here are a few key points on how you can drive your clients’ growth.
Find the right outcome for your clients, not the right clients for your outcome
No two businesses are the same, but in the past banks have offered businesses one-size-fits-all business loans and not much else. But things have changed.
Following the 2007/08 financial crisis, banks became less keen to lend but businesses still needed finance. As a result, the innovative alternative finance sector emerged and has been growing from strength to strength ever since.
What this means for you and your clients is that you don’t have to settle for a straightforward business loan that might not be the right option for your clients’ unique requirements. As their trusted adviser you should assess your clients’ specific circumstances and help them find the right solution for them, rather than settling for something that doesn’t help them achieve their growth goals. Alternative finance gives businesses of any shape or size the finance that suits them, whether they’re capital-rich, need to fund a new vehicle, trade with customers on credit… It’s finance that moulds to each business’s needs.
Add value to the support you provide
Your clients come to you because of your experience and your authority on financial matters. So by using your knowledge you can shift your position from being their reactive accountant, there to help out when things aren’t going so well, to their proactive adviser, helping them grow their business.
Meeting regularly with your clients and making sure you’re up to date with their accounts will help you to gain a greater understanding of the businesses and to spot any opportunities for growth. This will also help you to notice any potential cash flow issues long before they become an issue for the business.
It’s all about helping clients to make a success of their business by giving them a proactive service – it’ll help their businesses to grow, strengthen your relationship with them and make the partnership profitable for them and for you.
Conrad Ford is Founder and CEO of Funding Options, Europe’s leading online marketplace for business finance. Funding Options helps businesses find the right funding for their situation. Whether they want to grow, they’re fighting for survival, or simply need to pay a tax bill, @FundingOptions is helping the small walk tall.
Funding Options are at Accountex on Stand 1145