It’s that time of year again! Time to focus on health and fitness. But, I’m not talking treadmills and cleanses – I’m talking good, clean data and financial goal setting with your business clients.
It’s January and personal trainers are crazy busy helping millions of adults achieve healthier selves. What a great time it is for accountants and bookkeepers to set health targets with our clients!
Start by determining the targets and keeping it real:
- Financial terminology can be off-putting. Start by taking the time to listen to clients discuss their businesses. Ask questions such as “What do you want to achieve this year?,” “Why is that important to you?” and “How will you know you have achieved your goal?” Listen to the language your client uses and frame goals using the words you hear. If you hear “I’m always running out of money,” consider setting a “money in/money out” goal instead of a “cash flow management” strategy. You can show your clients that you are listening and make the goals feel more familiar and achievable.
- Complement their goals with ones they have missed. Clients may only focus on part of the picture. If they are excited about sales growth, consider encouraging them to add gross margin or net margin to the list of goals.