Are Bookkeepers and Accountants Obsessed with Technology?
In the bookkeeping industry, you hear a lot about the “Firm of the Future”. It’s a buzz term for bookkeeping firms that build their infrastructure around all the latest technologies and apps. The benefit sold to bookkeepers and accountants is that it will allow you to work so efficiently that you can handle more clients. That’s a wonderful benefit for sure! I’m not going to debate whether gassing up on all the latest technology is the right thing to do. What I want to point out is that having all that technology doesn’t automatically equate to more clients. It’s not a sales tool, it’s a management tool.
Maybe some businesses will sign up with you because you showcase so much technology, but in my experience, most of them won’t care much. So, don’t invest all your hard earned money on all these cool 3rd party apps if your book of business doesn’t warrant it. You’re only making these vendors wealthy – not you!
I want you to build a bookkeeping business that creates a wealth generating asset for you. The technology companies don’t have that same interest. They want to convince you that you need more and more technology in order to keep up with your competitors and stay relevant. I argue that you will outperform your competitors if you focus more of your attention on branding, messaging, and marketing. That is what will distinguish you from the others. Most bookkeepers and accountants are comfortable dealing with technology, so they spend their discretionary time looking at and evaluating the latest cool, shiny gadgets instead of focusing on sales.
You need to get out of your comfort zone, or your business will be stagnant. You will be the most technologically advanced company with the same number of clients every year. Over my 15 years of owning Steiner Business Solutions, I didn’t get caught up in all the technology and I still managed to build a multi million dollar business. I didn’t look for ways to NOT talk to my clients. I spent my time figuring out how to get my services in front of small business owners. What do small businesses owners care about? Timely response? Talking to a human? Empathy?
My suggestion to help your business grow – focus more on marketing your services to your target audience and LESS time on cool technology.
President, Steiner Business Solutions