This webinar on Poverty Mindset was hosted by the Institute for Certified Bookkeepers (ICB). Ingrid Edstrom dives deep into the factors that keep our clients from achieving success, and how accounting professionals can assist them.
It’s easy to overlook our accounting clientele’s human issues, yet emotions like worry and fear permeate their businesses, keeping them from focusing on the big picture and long-term success. Many of our customers struggle with a “chronic poverty” mindset, in which cash flow problems are a part of day-to-day life. Reactive, immediate relief from these pressures, such as borrowing money or throwing a clearance sale to pull together cash for payroll and rent, do not solve the long-term problem; they can actually worsen things by encouraging short-term solutions that perpetuate the downward spiral. This cost-cutting for short-term results is the same mindset that prevents customers from coming to their accounting professionals for help and assistance. What can you, the professional bookkeeper, do to help break this poverty mindset with your customers?
To download the presentation slides, click here.