By Shawn Moriarty
Often times we hear accountants say, “Our clients are too small and they only want the bottom line.” While this may be true it’s generally a result of a one-dimensional perspective. Business owners, regardless of size, don’t understand exactly how the income statement and the balance sheet tie together. By teaching your clients to understand how these key components dictate operating performance and ultimately the longevity of their business, you can solidify your role as their advisor.
The quickest and most valuable way to initiate this discussion is with Sageworks Industry and Data Analysis report. In just two minutes you can produce an industry specific report for your client that gives them a complete breakdown of their industry and shows them how they compare to their peers. You can imagine how valuable this is to a business owner and more importantly, it will initiate further dialogue.