In the ever-evolving world of accounting, client retention is a cornerstone of sustained success. The International Alliance of Entrepreneurs (IAE) is excited to introduce a unique approach to retaining clients and enhancing their profitability.
As accountants, you’re well aware of the costs associated with acquiring new clients. It represents a significant investment, both in time and resources. Yet, many clients resist additional financial advice, citing budget constraints or a narrow focus on tax savings. For small accounting firms, the challenge is even greater, as they may lack the resources necessary to provide the comprehensive advice clients need to thrive.
So, how does improving client profitability relate to client retention? It’s simple: a profitable client is more likely to remain loyal, especially when they receive excellent service. By extending your services to include strategic advice, you can help clients not only survive but thrive.
The Challenge: Understanding Business Beyond Core Skills
Many entrepreneurs start their businesses with strong core skills honed during their employment. However, these skills often account for less than 30% of what is needed to run a business successfully. The remaining 70% involves market understanding and cash management—areas where many new business owners struggle.
This gap in knowledge is a significant factor in the alarming statistic that “80% of Business Start-Ups Fail Within 3 Years.”
The Solution: IAE Toolkit – Business Start-Up Programme.
The IAE Toolkit is designed to bridge this gap. It is a comprehensive programme aimed at new business start-ups as well as existing and developing businesses. The programme consists of a series of workshops focusing on three critical elements:
- Mindfit Mindset: Cultivating the right mindset for business success.
- Marketing Mastery: Understanding and leveraging marketing strategies.
- Money Management: Essential skills for effective financial management.
Join Our Free Online Workshop
We invite you to a FREE online workshop to discover how the IAE Toolkit can enhance your practice. Learn how to increase client retention, improve profitability, and attract new clients.
Workshop Details:
Date: Thursday, 27 March 2025
Time: 1:00 PM – 1:15 PM (UK Time)
Location: Online (Available to accountants worldwide, presentation in English)
REGISTER HERE
By participating in this workshop, you will gain valuable insights into how to better support your clients in understanding their businesses, ultimately leading to improved profitability and retention. Don’t miss this opportunity to elevate your practice and provide unparalleled value to your clients.
Article by J Malcolm Dean.
J Malcolm Dean is an entrepreneur with a background in accounting who has held Managing Director roles in various SMEs to improve profitability and efficiency. His experience, including running an online pottery business, gave him insight into SME challenges. As Chief Executive of the Institue of Financial Accountants and International Association of Bookkeepers, he shaped global business education. He also founded Alliance for Promoting Management Excellence (APME) to provide SMEs with practical skills through courses and webinars in collaboration with the IAE.