6. Unique Processes
It is a requirement for every company to observe unique processes. It is important for these processes to be documented so it is possible to train others and maintain consistency. The process can be personalized and differentiated by naming it. You can start with a list of the processes used by your firm in client accounting services. These processes needed should be defined so that meeting client requirement is feasible. Consider your firm to act as a private start-up company so that the risks associated with staffing, leadership, pricing, service, technology, capabilities, regulations, complexity, and opportunities are reduced.
Pricing is especially important. It requires sales skills, forthright communication with clients and thought. Those who possess the skills in value creation should be given the responsibility to determine the price of the product and contact clients before services with a defined scope and engagement terms are delivered. By allocating time in defining the scope and asking clients regarding their strengths, opportunities and dangers, opportunities will increase, and margins will improve. When multiple services are offered as a package, anticipate good news since the clients are satisfied and the margins increase.
8. Management and Entrepreneurship
If you search for the success of your firm, management and entrepreneurship should be included in your business plans. Management can be bland, dull, and serious while entrepreneurship can be exciting, innovative, and cool, thus both make a perfect combination. Firms that have both management and entrepreneurship reduce waste and risk, increase learning and innovation, and provide their clients with a new category of accounting services.
Most firms face some risks day in and day out but by possessing some resources such risks are reduced to a minimum and the rewards are increased. The resources include an extraordinary ability team, present client base, platform, and champion. A collective vision and leadership are needed for the firms to click. You should add a platform that is collaborative. The employment of extraordinary ability firms is considered relevant as well. Your client base should be able to utilize Level 3 and Level 2 services.
Find out why you should hire an accounting services provider in Singapore?
10. Reliable Business Advisor
The CPA or certified public accountant is regarded as the most reliable business advisor. However, most CPAs do not perform their every function seriously enough and are lacking in providing their clients with the many services needed by their clients. It is primarily because the CPAs usually focus merely on L-1 services while the clients emphasise on L-3 and L-2 services.
Paul Hype Page & Co. is an ACRA-certified business adviser. Our team of seasoned professionals can help you set up a company in Singapore very quickly and easily following all legal entities, and offer you sound advice on how to make it successful too.
In addition to business registration, we’ll also guide you how to:
1. Write a business plan – Learn how to write a compelling business plan by accessing our sample business plans, or other helpful market research information
2. Perform market research – Understand your business market, learn how it can enhance your business growth, and how to properly conduct a market research for your business
3. Legal issues for small business – If you are thinking about registration of a company in Singapore, then you really need a lawyer. In addition, you will learn why legal counseling is particularly important part of any business.
4. Manage your finances – We’ll offer you FREE resources and information to help you fully understand all financial concepts and teach you how to perform basic accounting tasks like budgeting, bookkeeping, financial analysis, among others.
Contact Paul and Hype Page Co. for a FREE consultation on how you can start to invest in Singapore.
We also provide the following services:
- Instant online company registration in Singapore
- International tax planning and advice
- Professional company secretary service at affordable price