now is the time to activate your referral network

people standing, holding food and talkingplus: 19 sources, how to stage a referral event, and what networking isn’t.

by marc rosenberg
the rosenberg practice management library

the biggest source of new business is a firm’s existing client base, both in the form of expanded services and referrals to others. it’s estimated that 60 percent of a firm’s revenue growth comes from this area.

more: does your firm recognize all its skills? | protect and grow existing clients | the 4 marketing disciplines | 15 powerful niche marketing practices | 19 takeaways from the history of cpa firm practice development | why you have to kill the old paradigms | are you ready for the great disruption?

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goprocpa.commore for pro members: coronavirus resources for remote-working (#wfh)

this is no time to lose touch with your referral sources. and, even though in-person meetings may be difficult, everyone, it seems, is becoming more comfortable with online events like video conference calls and webinars.

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does your firm recognize all its skills?

silhouettes of three business partners talking against a window in an officemaybe you have more to offer.

by marc rosenberg
the rosenberg practice management library

true story: i was leading a meeting of a seven-partner, third-generation cpa firm. their revenues were stagnant and their profits disappointing. one hundred percent of their revenues were audit, accounting and tax. thirty percent of their business clients were in oil and gas.

more: protect and grow existing clients | the 4 marketing disciplines | 15 powerful niche marketing practices | 19 takeaways from the history of cpa firm practice development | why you have to kill the old paradigms | are you ready for the great disruption?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

we started discussing ways to increase revenue. the dialogue went something like this:

rosenberg: i notice that your firm is 100 percent compliance, no consulting. aren’t there some consulting opportunities there?
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2020 outlook: non-traditional hires might be the answer

also: for mergers, it’s a buyers’ market.

by marc rosenberg

there have been four babe ruthian story lines that have driven the cpa industry evolution for 10-20 years.

more: 2020 outlook: focus on business development | innovate and anticipate | balance advisory and compliance | talent shortage drags on | demand is high | business development goes borderless | data import on the rise | becoming the most valuable advisor | top three tips for 2020 success | where do you want to be? | dicey disruptions | upstream mergers | staffing gets creative
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

just because they don’t go away, that doesn’t mean that changes aren’t occurring.
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protect and grow existing clients

blue pencil on survey formhow your net promoter score can help you focus.

by marc rosenberg
the rosenberg practice management library

we’ve discussed how there are four disciplines of cpa firm practice development. here is how firms commonly spend their time on each discipline, or marketing activity:

  • discipline 1, grow and protect existing clients: 50%
  • discipline 2, develop and nurture referral sources: 30%
  • discipline 3, prospect to attract new clients: 15%
  • discipline 4, perform support activities: 5%

more: the 4 marketing disciplines | 15 powerful niche marketing practices | 19 takeaways from the history of cpa firm practice development | why you have to kill the old paradigms | are you ready for the great disruption?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

let’s start by focusing on discipline 1, growing your existing clients.
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reward partners for performing like partners

piggy bank on scale with dollar signspartnership is no time to coast.

by marc rosenberg
the rosenberg practice management library

any of you who started out as sole practitioners surely remember that it was you – no one else – who made your firm successful. you brought in the business. you did top-notch work and delivered it on time. you nurtured and grew your client relationships so they came back asking for more. when you hired staff, you who were responsible for keeping them busy and training them how to do the work.

more: merging in sellers: what you need to know | 8 ways comp systems get partners to do what the firm needs | buyers name 20 big merger turnoffs | why governing by partner ownership is bound to fail
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

if you took days off from these activities, guess what? no one did it for you and your firm suffered as a result.
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