VALUE-ADDED ACCOUNTING – INCORPORATING PAST, PRESENT, AND FUTURE

Our firm recently expanded into the Austin market by acquiring two existing firms with a good reputation and good clientele. We had been considering this option for a while, and decided to pursue it vigorously this past fall. While my partner and I were both extremely excited about this new venture, we also realized that buying a new firm (in our case, TWO new firms!) was a huge risk and would take some serious dedication, hard work, and good old fashioned schmoozing.

Essentially, we would be shaking up the foundation of a firm and expecting clients to transition to new operating procedures and new owners. While we wanted to maintain many of the previous owner’s ways of communicating and doing business, we also wanted to add our own flair and introduce some new ways of doing business. The key to introducing this change was by showing our clientele that we would be providing a value-added service.

Five months down the road, I can say that the transition was just as much work as we expected, but also just as fruitful. Here’s why: VALUE-ADDED SERVICES.

Of course we provide quality work, good customer service, and a fair price. But so does every other CPA on the block. What we’ve done is become a trusted advisor to our clients. Rather than focus solely on financials and historical data, we provide our clients with a look into their future.

Most business owners are more concerned about day-to-day operations and future growth and potential than they are about their prior year tax return. Sure, where you’ve been is important, but getting you to where you could be is invaluable. Our goal is to help you understand your financial situation and then help you improve it.

For instance, one of the clients we acquired is a rather large operation in the area. This client had been operating at a loss for the past twelve months and was at a loss for what to do. After visiting their offices, touring their operations, and reviewing their prior year financials, we were able to pinpoint the problem. The company had too many employees. Essentially, they had 10 employees working at a 40% productivity rate due to a decrease in demand. By cutting back to 5 employees, the potential for profit would be within reach. Needless to say, this was one happy client!

This is just one of many ways we have been able to provide a value-added service. Next time you’re in the market for a CPA, look for one who goes above and beyond the call of duty. It’s not just about reviewing your prior year tax return – it’s about looking at where you are today and where you could be in the future.

LeAnn Gola is the partner of the Austin office of Cook, Gola and Company, PLLC.