I am not really a very sentimental person if I have to be honest. In accounting and accounting related work, that is best left outside the door. I leave romance and emotions to the novelists and poets – when it comes to finance, numbers and taxes, precision and objectivity is key.
But for those who know me, you know there is going to be a but somewhere in these sentences, and you would be right. I only allow myself a few sentimental moments in any given financial year that is. But here’s what happened; I was going through my client database and reviewing some of the early developments when I started out my career back in 2003.
While I found the information I was looking for, I was quite caught off guard to see a few familiar names on that 2003 client list. I was surprised to see a number of clients still with us after all these years. Let me just be clear that I am not looking for “brownie points”, I just found myself thinking back to those early start-up years and how exceptionally tough it was to find and secure new clients. Even the ones that started out with me, were actually taking a chance on a newbie! Something I have always been grateful for.
But, and this is the sentimental part, it got me thinking about what makes for a strong long-term relationship in business. I certainly wasn’t always popular, especially when clients had to settle tax payments, and I’ve also made my fair share of honest mistakes along the way.
What are the necessary ingredients that build sound client-accountant relationships? Here’s what I believe one has to keep in mind, after having successfully maintained some relationships dating back to more than 20 years…
1. Owning and Running a Business is Stressful
Running a business, whether it's a one-person startup or a large-scale operation, comes with its fair share of stress. Between managing employees, keeping track of inventory, and meeting deadlines, financials can easily become an overwhelming mountain to climb. A trustworthy accountant can help clients navigate those financial waters with ease. The key to a successful partnership is not just in making the numbers work, but in the relationship itself, and like any relationship this requires patience, compassion, hard work and effort.
2. Trust: The Key Foundation of a Solid Relationship
Trust is the cornerstone of any strong relationship, and it’s no different when it comes to working with your accountant. When a client trusts their accountant, they are essentially entrusting the financial health of their business in your hands. That’s no small feat. As an accountant I had to learn that it’s not enough to only keep track of taxes and to ensure compliance, but also to provide honest and strategic advice to my clients on how to grow their business and what pitfalls to avoid. Client’s need to see you have their best interest at heart and sometimes this means also cautioning them against actions that may lead to short term gains but long-term losses. This is especially true when complex tax structuring comes into play.
3. Say it as it is
Honest and open communication is vital. As accountant it’s my duty to make sure I truly understand my client’s business, and I need to know their goals, challenges, concerns, and future plans. I have a duty to share the financial concerns I may have about their business and this may include cash flow, growth projections, or tax obligations. In a modern economy, accountants have certainly become more than just number crunchers – they are partners who listens, asks the right questions, and offers invaluable insights. Regular check-ins and clear, jargon-free explanations are key to making sure you and your client both stay on the same page.
4. Reliability: Be There When They Need You
When client’s run their businesses, the last thing they want is an absent accountant! Especially when they are about to make an important financial decision. As accountant you have to be reliable and responsive, especially during difficult times like tax season, financial year-end or financial planning phases. Whether clients are facing a tight deadline or a challenging financial decision, having someone they can count on is priceless. A reliable accountant not only meets deadlines, they also proactively provide clients with advice to help them stay ahead of the curve.
5. Respect Each Other’s Expertise
Just as you bring your financial expertise to your business, so does your client bring their own set of experiences, specialised knowledge and skills to the table. Mutual respect is key to ensuring productive partnerships. Knowing when to listen and when to pushback are essential mutual skills that adds critical value and gravitas to any business relationship. An accountant who respects your business, your decisions, and your time is also more invested in helping you succeed. I have found that clients who comprehend and agree to the reality of their financial limitations, help both parties work toward the best possible outcome. This is a really vital aspect, and probably one of the most important elements in this list.
6. Goodwill: A Partnership Built on Care and Support
Finally, a truly successful client-accountant relationship is one where both parties are actively working towards the greatest good for the business. A great accountant cares about the success of their clients. Clients are not just numbers and invoices, they represent people with families, loved ones, dreams and ambitions. The best relationships are also partnerships! This kind of goodwill makes it easy to navigate the ups and downs of business ownership, as both sides are committed to the long-term growth and stability of the company.
Final Thoughts
Besides being flattered by the number of clients who have stuck it out with us throughout the years, I am also humbled at the same time by challenges we faced together. I can honestly say that our entire team are truly committed to our clients and making sure they get the best possible outcomes where it relates to their accounting tasks, taxes, and business advice.
To build sustainable long-term relationships means to also be willing to do everything in your power to ensue the best potential outcome for your clients. It’s more than just being a numbers person – it’s about becoming a trusted advisor and a true business partner.
My best advice in closing to both accountants and clients is; like a marriage; it takes a hundred percent from both parties and many bags of salt – but boy is it worth it!
Thank you to all our clients who have chosen to journey with us, without you, we are just that, number crunchers!
For any assistance with important business decisions, analyzing of your financial data, or for any accounting related services you may require, please take a look at our comprehensive portfolio of services or call us on +27 82 561 7024. You can also send us an email at myrtleo@mbasa.org for more information.
But for those who know me, you know there is going to be a but somewhere in these sentences, and you would be right. I only allow myself a few sentimental moments in any given financial year that is. But here’s what happened; I was going through my client database and reviewing some of the early developments when I started out my career back in 2003.
While I found the information I was looking for, I was quite caught off guard to see a few familiar names on that 2003 client list. I was surprised to see a number of clients still with us after all these years. Let me just be clear that I am not looking for “brownie points”, I just found myself thinking back to those early start-up years and how exceptionally tough it was to find and secure new clients. Even the ones that started out with me, were actually taking a chance on a newbie! Something I have always been grateful for.
But, and this is the sentimental part, it got me thinking about what makes for a strong long-term relationship in business. I certainly wasn’t always popular, especially when clients had to settle tax payments, and I’ve also made my fair share of honest mistakes along the way.
What are the necessary ingredients that build sound client-accountant relationships? Here’s what I believe one has to keep in mind, after having successfully maintained some relationships dating back to more than 20 years…
1. Owning and Running a Business is Stressful
Running a business, whether it's a one-person startup or a large-scale operation, comes with its fair share of stress. Between managing employees, keeping track of inventory, and meeting deadlines, financials can easily become an overwhelming mountain to climb. A trustworthy accountant can help clients navigate those financial waters with ease. The key to a successful partnership is not just in making the numbers work, but in the relationship itself, and like any relationship this requires patience, compassion, hard work and effort.
2. Trust: The Key Foundation of a Solid Relationship
Trust is the cornerstone of any strong relationship, and it’s no different when it comes to working with your accountant. When a client trusts their accountant, they are essentially entrusting the financial health of their business in your hands. That’s no small feat. As an accountant I had to learn that it’s not enough to only keep track of taxes and to ensure compliance, but also to provide honest and strategic advice to my clients on how to grow their business and what pitfalls to avoid. Client’s need to see you have their best interest at heart and sometimes this means also cautioning them against actions that may lead to short term gains but long-term losses. This is especially true when complex tax structuring comes into play.
3. Say it as it is
Honest and open communication is vital. As accountant it’s my duty to make sure I truly understand my client’s business, and I need to know their goals, challenges, concerns, and future plans. I have a duty to share the financial concerns I may have about their business and this may include cash flow, growth projections, or tax obligations. In a modern economy, accountants have certainly become more than just number crunchers – they are partners who listens, asks the right questions, and offers invaluable insights. Regular check-ins and clear, jargon-free explanations are key to making sure you and your client both stay on the same page.
4. Reliability: Be There When They Need You
When client’s run their businesses, the last thing they want is an absent accountant! Especially when they are about to make an important financial decision. As accountant you have to be reliable and responsive, especially during difficult times like tax season, financial year-end or financial planning phases. Whether clients are facing a tight deadline or a challenging financial decision, having someone they can count on is priceless. A reliable accountant not only meets deadlines, they also proactively provide clients with advice to help them stay ahead of the curve.
5. Respect Each Other’s Expertise
Just as you bring your financial expertise to your business, so does your client bring their own set of experiences, specialised knowledge and skills to the table. Mutual respect is key to ensuring productive partnerships. Knowing when to listen and when to pushback are essential mutual skills that adds critical value and gravitas to any business relationship. An accountant who respects your business, your decisions, and your time is also more invested in helping you succeed. I have found that clients who comprehend and agree to the reality of their financial limitations, help both parties work toward the best possible outcome. This is a really vital aspect, and probably one of the most important elements in this list.
6. Goodwill: A Partnership Built on Care and Support
Finally, a truly successful client-accountant relationship is one where both parties are actively working towards the greatest good for the business. A great accountant cares about the success of their clients. Clients are not just numbers and invoices, they represent people with families, loved ones, dreams and ambitions. The best relationships are also partnerships! This kind of goodwill makes it easy to navigate the ups and downs of business ownership, as both sides are committed to the long-term growth and stability of the company.
Final Thoughts
Besides being flattered by the number of clients who have stuck it out with us throughout the years, I am also humbled at the same time by challenges we faced together. I can honestly say that our entire team are truly committed to our clients and making sure they get the best possible outcomes where it relates to their accounting tasks, taxes, and business advice.
To build sustainable long-term relationships means to also be willing to do everything in your power to ensue the best potential outcome for your clients. It’s more than just being a numbers person – it’s about becoming a trusted advisor and a true business partner.
My best advice in closing to both accountants and clients is; like a marriage; it takes a hundred percent from both parties and many bags of salt – but boy is it worth it!
Thank you to all our clients who have chosen to journey with us, without you, we are just that, number crunchers!
For any assistance with important business decisions, analyzing of your financial data, or for any accounting related services you may require, please take a look at our comprehensive portfolio of services or call us on +27 82 561 7024. You can also send us an email at myrtleo@mbasa.org for more information.
CONTACT US
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082 561 7024
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myrtleo@mbasa.org