5 Clever tips from an Accountant to make your electrical business instantly more profitable

Number One: Put your prices up.

< /br>Put some or all of your profits up by at least 5% every six months.< /br>< /br>Don’t panic –your customers wont leave.< /br>< /br>Do it today and be pleasantly surprised by the lack of any response you get.< /br>< /br>You will instantly add $ to your bottom line.< /br>< /br>< /br>< /br> < /br>< /br>Number Two: Contact  your database.< /br>< /br>Send your customers a regular newsletter with helpful tips.< /br>< /br>Start with a Xmas newsletter “Ten things to do to protect your home before going on holiday”< /br>< /br>Tip One: could be making sure the mail is cleared by a neighbour.< /br>< /br>Tip Six: could be use a timer switch to make sure your home looks occupied.< /br>< /br>Tip Nine: could be unplug all your appliances< /br>< /br>Tip Ten: Contact us for any outstanding electrical work.< /br>< /br>Use this tip sheet as a template.< /br>< /br>If you don’t have a database that is easy to manage visit www.capsulecrm.com< /br>< /br>This costs as little as $12 USD per month and is very user friendly.< /br>< /br>Think about offering your customers a Christmas deal – offer them something for free – this can be an item of high value to them and low cost to you– maybe free light bulbs/smoke detectors/batteries with any work completed before Christmas< /br>< /br> < /br>< /br>Number Three:< /br>< /br>Increase your lead generation< /br>< /br> < /br>< /br>Have 10 different lead generation systems in place every month.< /br>< /br> < /br>< /br>Have a referral system in place – reward and thank your customers for any referrals they make.< /br>< /br> < /br>< /br>Ask your clients for referrals.< /br>< /br> < /br>< /br>Join a networking group such as BNI  www.bni.co.nz< /br>< /br> < /br>< /br>Make sure your website is up to date, relevant and easy to use.< /br>< /br> < /br>< /br>Invest in Google adwords< /br>< /br> < /br>< /br>Use other peoples networks.  Run offers in conjunction with other firms< /br>< /br> < /br>< /br>< /br>< /br> < /br>< /br> < /br>< /br> < /br>< /br> < /br>< /br>Nuture relationships with compatible businesses, eg plumbers, real estate agents.< /br>< /br> < /br>< /br>Present your services to these groups eg at your local Real Estate office team meetings.< /br>< /br> < /br>< /br>Make a list of your ideal customers and create a marketing plan to suit< /br>< /br> < /br>< /br> < /br>< /br>Number Four: Use good systems< /br>< /br> < /br>< /br>Well run businesses have excellent systems that give them current information.  This allows the owner/Manager to concentrate on the “business of the business” rather than in the business< /br>< /br> < /br>< /br>Make sure you invoice immediately when the job is completed.  Chase your debtors.  Use a great accounting system such as Xero www.xero.com to easily access and process your financial information, allowing you to spend more time developing your business (or going fishing)< /br>< /br> < /br>< /br>Make sure your pricing is correct.  Contact [email protected]  for a free report on Setting prices for trades< /br>< /br> < /br>< /br> < /br>< /br>I like the really friendly staff at Astill Hawke & Associates and how they always return my call within a short period of time.  They have set me up on Xero (which is almost sexy)< /br>< /br>I know where we are going with our money, and where it goes.   I appreciate how I can ask a silly question and be treated with respect.< /br>< /br>I highly recommend Astill Hawke & Associates Ltd< /br>< /br> < /br>< /br>Allison Glover< /br>< /br>Spark-Rite Electrical Services Ltd< /br>< /br>Pakuranga< /br>< /br>Auckland< /br>< /br> < /br>< /br> < /br>< /br>  < /br>< /br>Number Five: Get a second opinion on how to make your business more successful< /br>< /br>Using the services of your accountant can really boost your bottom line< /br>< /br>For a free review (valued at $299) please contact: Kirsten Hawke at Astill Hawke & Associates                             Ph 09 9859791 [email protected] www.astillhawke.co.nz