
a recession may be exactly the right opportunity for a firm to add new revenue and build market share.
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by rick telberg/at large
with the economy slowing, lending in crisis and the surge in sarbox work ebbing, many cpa firms across the country will be encountering one of the toughest business environments in years.
marketing budgets may be the first to get the axe. but if a firm has the resources, a recession may be exactly the right opportunity for a firm to add new revenue and build market share, according to jean marie caragher, president of chesapeake, virginia-based capstone marketing, which is now marking its 10th year of providing strategic planning, retreat facilitation, training and marketing director recruiting services to cpa firms.
“to ensure smart spending in a slow economy,” caragher says, “cpas should focus on current clients, develop niche specialties, work their networks and ask for referrals.”
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