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Successful Entrepreneurs Are “Ideal Clients” For Accountants

For Accountants, successful business owners are very often “ideal clients.”

This is due to the fact they are the engines of private wealth creation, especially extreme private wealth creations.

Not only are successful businesses the primary source of private wealth creation, successful business owners require and seek out an often-broad array of expertise. Moreover, they will usually pay, and pay well, for high quality advice. Successful business owners include:

  • Owners of family businesses
  • Owners of privately held companies
  • Owners of professional practices and other types of partnerships

For successful entrepreneurs, their accountants are regularly their primary “go to” professionals. As so many critical business decisions are entwined with the financials of the company, these high-caliber entrepreneurs depend on their accountants to help them navigate the possibilities and make wise choices. This is not to say that other types of professionals are not also consulted at various times. It is just that accountants are consulted more often and – very importantly – their erudite opinions carry a great deal of weight.

Based on a survey of 394 Accountants, successful business owners are readily identified by about seven out of ten of the accountants surveyed as their “ideal clients.”  There is a strong relationship between the money they earn and their perception of accountants as “ideal clients.” For accountants earning between $200,000 and $500,000, about two-thirds say business owners are “ideal clients.” This percentage rises to three-quarters for accountants earning between $500,000 to $700,000. Meanwhile, 90% of accountants earning $1 million or more per year say business owners are “ideal clients.”

For those accountants focusing on successful business owners and their companies, by systematically identifying new opportunities to add value and strategically positioning their expertise, the financial returns are substantial. It is not uncommon to literally increase per client profitability by multiples.

Basic – Less Than 50 Bank Transactions
$75 Month
Annual Financial Statement
Annual Profit & Loss
Annual Balance Sheet
Monthly Post Disbursements
Monthly Post Deposits
Monthly Bank Reconciliation
Annual General Ledger
Live Accountant Support (via Tel)
Standard – Less Than 100 Bank Transactions
$175 Month
Quarterly Financial Statement
Quarterly Profit & Loss
Quarterly Balance Sheet
Monthly Post Disbursements
Monthly Post Deposits
Monthly Bank Reconciliation
Quarterly General Ledger
Live Accountant Support (via Tel)
Gold – Less Than 200 Bank Transactions
$375 Month
Monthly Financial Statement
Monthly Profit & Loss
Monthly Balance Sheet
Monthly Post Disbursements
Monthly Post Deposits
Monthly Bank Reconciliation
Monthly General Ledger
Live Accountant Support (via Tel)
Platinum – Unlimited Bank transactions
Call for Quote
Everything in Gold, plus
Tax Planning
Business Strategy
Projections
Budgeting
Accountant Consultations
 
 

About the Author

Gustavo VieraGustavo A Viera is the managing partner of Gustavo A Viera, PA. His experience spans more than 25 years. He started his career in public accounting at PriceWaterHouseCoopers where reached the level senior audit manager. His Fortune 500 experience includes positions as CFO - Latin America Region for both Hewlett Packard and Telefonica of Spain. Gustavo also writes a blog twice a week that addresses trending accounting and tax issues. He is an SBA Advisor and teaches workshops for aspiring entrepreneurs. His office is located at One Alhambra Plaza Floor PH Coral Gables FL 33134, and is admitted to practice in the State of Florida as a licensed Certified Public Accountant. Gus welcomes questions and he can be reached at 786-250-4450.View all posts by Gustavo Viera →