Businesses Top Complaints About Accountants and How to Turn it into Opportunity
Blaine Bertsch with Dryrun, discusses the top 5 complaints that businesses make about their accountant and how these complaints actually present a key opportunity for the profession.
Stats from https://www.waspbarcode.com/small-business-report-accounting
This is Blaine at Dryrun.com
Today I am going to talk with you about some of the top complaints that business owners have about their accountants.
Now what I am doing is I’m taking this data from an article that I found, just stumbled across online today. It’s from waspbarcode.com, they did a survey of businesses from 11 staff all the way up to 100 staff.
So it covers a large range of small businesses. I took the averages so that we can just look at, instead of looking at different sizes of businesses, overall what the top complaints are about their accountant.
If you are an accountant, you may find this very interesting because there is a really solid trend that runs through the whole thing.
Let me just read off what their top complaints are:
They’re more reactive than proactive.
Lack of guidance
Doesn’t provide advice
Doesn’t educate me.
So number five – 1 out of four actually made that complaint.
Where the top complaint more reactive than proactive was almost half of the businesses surveyed.
What I would like to point out is that out of these five top complaints, four of them are all basically begging for advisory services.
So you know, the failure to educate, the need for advise, more reactive than proactive, the lack of guidance.
Business owners are dying for your professional guidance.
Occasionally when we talk with accountants and accounting pro’s, sometimes they have this idea that businesses maybe don’t want that help. They don’t want them to sort of step on their toes or stick their nose in or whatever it is, the fact is, it is actually not only do the businesses want your input and your help, it is actually a top complaint.
Because it is a top complaint, it is also the number one reason they are likely to leave your firm and go somewhere else.
So it is the top complaint that can be flipped around and turned into your top opportunity to offer advisory services.
Now we see this everyday because we are in the cashflow space and we are helping businesses manage their cashflow. We are really helping accounting professionals advise their clients on their cashflow, their revenue projections, and their growth plans.
If you aren’t yet doing this, or you aren’t yet advising the majority of your clients, you should be.
You can see that’s their number one complaint and it is also the number one opportunity for you to offer more services to your customers, generate more revenue and I also want to point out the fifth complaint that they have is the timelines.
Now what we see with our partners when they are offering ongoing cashflow management services, they are keeping the books up to date, touching in weekly and that means that business owners are getting information in their hands really quickly, really timely, they are willing to pay for that service and so you basically tackle all five of their key issues by offering advisory services and really helping them grow and build their business.
So if you are not yet offering those types of services, we seen often they are generated around cashflow management, it is the number one issue businesses face.
It’s something I really strongly encourage you to look into, talk with your clients about it and start heading that direction.
And of course, please feel feel free to reach out to us, we would be happy to talk with you about how we could help you do that, help you offer that service through Dryrun and really just chat and answer questions you may have.
So you can look at dryrun.com just click on the chat bubble down on the bottom right of the window, we would be happy to chat with you.
Thanks so much.