Several advantages come with outsourcing your accounting tasks, many of which are quite clear—namely, you gain access to a vast pool of skilled and certified accountants while significantly reducing overhead costs. These two factors contribute to a third benefit that might not be immediately apparent: they free up substantial time for you to attract more high-profile clients to your firm.
The health of your firm
You may feel satisfied with the current clientele you have and think further acquisitions are unnecessary. However, consider this—if you’re too comfortable, you may stop innovating, ultimately leading your firm to fall behind the competition.
This stagnation could make rival firms appear increasingly appealing to your clients. Delaying action can put you at a disadvantage in crafting value packages designed both to keep existing clients and attract new ones as replacements for any you’ve lost.
Outsourcing accounting work provides you with the necessary time to create these strategies and consistently seek improvements for your firm. By concentrating on how best to engage potential new clients, you’ll also be considering ways to enhance the services provided to your current client base.
Your emphasis is on attracting high-profile clients
As you enhance your offerings, go directly to the source: your current A-list clients. Discover their preferences and aversions regarding your firm’s existing services. Develop new service packages based on their feedback.
With this approach, when prospective clients come onboard, you’ll implement a vetting process. If these new clients reject the exclusive A-list packages, it may indicate that they are unlikely to be A-listers themselves, allowing you to focus on more promising opportunities. Instead of merely accommodating a minimum standard for clientele, you will set higher expectations for incoming clients seeking acceptance from your firm.
By consistently applying this strategy, you can eliminate D-listers first and then phase out C-listers until you’re exclusively collaborating with preferred clients. Furthermore, these elite clients provide valuable insights—they can share what aspects of your pitch or business influenced their decision to partner with you.
Increase morale
Outsourcing accounting tasks not only elevates morale by enhancing your firm’s efficiency, but it also provides you with the opportunity to concentrate on attracting new clients. The more high-profile clients you acquire, the more satisfied your team will be as they recognise that their effort is acknowledged for its exceptional quality. Additionally, each new client offers yet another occasion for celebration.
You’ll be forced to offer new services
Your new A-listers are likely to introduce one or two innovative concepts for your company to explore. By outsourcing your accounting tasks, you can free up both finances and time to seriously evaluate these ideas and even conduct a trial.
As you incorporate additional qualified services, you’ll inevitably become more appealing to prospective high-profile clients. This creates a beneficial cycle.
Outsourcing accounting also significantly reduces the risks associated with implementing new services. You avoid the complications, time expenditure, and expenses involved in recruiting a specialist for your internal team. Instead, you simply check if your outsourcing partner already has such an expert available, engage them, and test out the new service. If it doesn’t pan out as expected, you can easily discontinue that service without incurring severance costs or retaining someone who no longer has work tasks.
New A-listers are surrounded by friends and associates
Inform the new clients that in a year’s time, if they are satisfied with your services, you will request three referrals from them.
This indicates that by outsourcing accounting jobs, you not only create opportunities to expand your business but also have the capacity to let go of clients who hinder your firm’s progress. This results in more content clients, more engaged employees, and a stronger overall firm.
