marketing & sales

how to manage the practice development function

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dollar being built of blocksyour firm’s existence depends on marketing.

by marc rosenberg
the rosenberg practice management library

sometimes the most important ingredient in marketing success has little to do with marketing.

more: how to brand and differentiate your firm | working business development into your day | how marketing systems produce business growth | 6 keys to developing new client prospects | protect and grow existing clients | 19 takeaways from the history of cpa firm practice development
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this statement may seem illogical, even unbelievable, in a series professing to teach cpa firms how to generate revenue growth. but stay with us and you’ll see what we mean.
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creating a cross-selling culture

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two businessmen talking at officeif you can help, why wouldn’t you?

by ed mendlowitz
call me before you do anything: the art of accounting

part of my success in getting new business was getting additional work from existing clients.

more: when time-based pricing works | the clients that got away | upselling made painless | boosting a fixed fee substantially | creative ways to retain staff | what cpas can learn from lawyers and doctors | advising cheapskates | getting bonuses from clients | be an accountant, not a salesperson for other things | when clients don’t know
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i was always good at this, and i think it was because of my attitude of helping the client beyond what the routine services were. early on i felt queasy about mentioning that there would be an additional fee for the extra services, but after a few times, i got over that.
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are you botching your first impression?

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three steps to the perfect elevator pitch.

by ty hendrickson

eight seconds. that’s all the time that you have to catch someone’s attention and draw them in before they become disinterested in you and your conversation.

more: maybe the pandemic isn’t all bad | the no. 1 reason accountants fail to build advisory practices | the real problems created in a remote workforce | can you really grow without adding clients? | 4 reasons to welcome rejection
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the human attention span has dropped recently from 12 seconds down to a whopping eight whole seconds. sadly, a goldfish now has a longer attention span than humans at nine seconds. for accountants who are working furiously to grow a practice through networking, this presents several challenges.
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5 ‘low-hanging fruit’ ways to raise your revenues right now

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a little thought goes a long way.

by sandi leyva
getting new clients

if august is a slow business month for you, it’s not just your business.

more on small-firm growth strategies: stuck at home right now? here are 100 good ideas to relieve the stress | how to lead in a crisis | how to think straight through the coronavirus crisis | tech tools for working through the coronavirus | survey quantifies link between online reviews, revenue | major search algorithm change could affect your rankings
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with people making the most of a disappearing summer, it’s all most of us can do to stay on our routines.

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maybe the pandemic isn’t all bad

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dog sleeping in home office as woman works at computer in background4 hidden blessings.

by ty hendrickson

i have never felt the power of the old saying, “the only constant is change,” more than this year. as we navigate the second half of 2020, i find myself reflecting on how much has changed in the course of just a few short months. 

more: the no. 1 reason accountants fail to build advisory practices | the real problems created in a remote workforce | can you really grow without adding clients? | 4 reasons to welcome rejection
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i don’t want to talk about covid-19 or the new normal or unprecedented times or any of the other hot terms we’ve all heard about 100 times daily. everything that 2020 has hit us with has been incredibly heavy, insanely bizarre (can we please never hear about murder hornets again?) and for someone like me who already functions with a high level of anxiety, it is has been very stress-inducing.

2020 has been a wild ride both personally and professionally, and i’m ready for a fresh start.
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working business development into your day

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businessman standing outside the office on the phone with coffeeand five ways to counter possible objections.

by marc rosenberg
the rosenberg practice management library

the accountants’ use of their time is critically important to running a successful, profitable accounting firm.

more: networking for fun and profit | why consultative selling works | how not to develop your practice | does your firm recognize all its skills? | 15 powerful niche marketing practices
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

time management is critically important to business development:

  • it helps you determine how much time to spend on business development. spending 100 hours a year on business development should yield better results than spending 10.
  • it helps you determine when you spend your time.

let’s drill down on the when.

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the no. 1 reason accountants fail to build advisory practices

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shift your mindset for covid-era client services. stop thinking about selling and start thinking about helping.

by ty hendrickson

what is the number one reason that accountants get stuck providing transactional services?

mindset.

now, i’m not one of those gurus that preaches mindset and how if you want something in your life, all you have to do is visualize it. that’s not the mindset i’m talking about here. i’m talking about the mentality that accountants “feel bad” for charging someone for their expertise and advice.

more: the real problems created in a remote workforce |  can you really grow without adding clients? | 4 reasons to welcome rejection |

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

while this is not a new problem, it has bubbled to the surface amidst the covid-19 crisis. in the vast majority of my conversations with firm owners recently, i hear the same line over and over again, “i’ve spent so much time talking to my clients about loans and explaining their options that i’ve hardly gotten any tax work completed. now, i have to charge them $1,000 for those conversations, and i just don’t feel like i can do that because i know the financial situation they are in right now. i feel bad.”

what?!?!

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build your advisory services business [last call]

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//www.g005e.com/?p=78340

^ click to play preview

卡塔尔世界杯常规比赛时间 special offer: 20% off for sales seed’s new prospects and lead nurture bootcamp.
tax and accounting firms seeking to develop their advisory services can take advantage of a new program offered by the sales seed and led by 卡塔尔世界杯常规比赛时间 expert contributor ty hendrickson. registration closes sunday, aug. 2, so you’ll need to hurry. 卡塔尔世界杯常规比赛时间 readers are getting a special discount of $100.

enroll here

learn more here

the seven simple steps to thrive in the covid crisis

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//www.g005e.com/2020/07/21/thriving-during-the-covid-19-crisis-and-beyond/leveraging the relationships you already have. step 1: make a list.

by anthony glomski and russ alan prince
your $5 million high-net-worth practice

the covid-19 crisis has put a lot of financial pressure on many businesses, including many accounting firms. at the same time, a percentage of professionals, such as accountants, lawyers, and wealth managers, are strategically taking action to deal with the economic pressures.

see also: the three new business models delivering significant profits for accounting firms | the 5 meetings of the (true) wealth management process | collaborative wealth management: defining the framework | protect your clients’ assets | even entrepreneurs must diversify | when clients cash out: four smart financial moves |

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the result is that they are doing well as the crisis progresses and are smartly positioned to do exceptionally well as the crisis abates.

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post-covid: not your usual summer to-do list

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how will you spend your “vacation” time?

by bill penczak

in normal times, summer was the respite between tax and audit busy seasons, a pause in marketing activities, the time to take it easy and to catch up on cpe, and to conduct personnel reviews and other administrative duties delayed from the beginning of the year.

more: do you have the guts to beat the covid crisis? | how to inoculate your firm against covid competition | ‘found money’ delights clients | don’t buy a rolodex, buy a process | the three r’s for beating the corona crisis | 6 reasons why your marketing sucks
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

this summer is different, on so many levels. the sunlight filters through your bedroom window a bit earlier, and these days, if you’re even driving to the office, the roads are strangely less crowded.  the general mood is more tenuous, as we all speculate about the new normal.

most cpa firms will continue the same pattern of waiting until september to ramp up their go-to-market efforts. but two or three out of 10 firms will use this summer to get a head start to make up for lost opportunities, and revenue, caused by the covid crisis.

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start marketing now for next season

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no, it’s not too early to begin planning.

by ed mendlowitz
tax season opportunity guide

marketing takes many forms. further, many accountants are not trained in marketing. i also know that while most cpas want more business, they are too busy with what they have to be actively seeking new business. additionally, marketing can be external, internal or retentive.

more: 4 reasons not to let staff go after tax season | nine keys to success and growth | what kind of accountant are you? | covid tests accountants’ entrepreneurial talents | have you gotten where you wanted yet?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

external is where new clients are solicited. that takes effort, ingenuity, time and maybe even some money.
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the three new business models delivering significant profits for accounting firms

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businessman sitting on stacks of paper currencyhow to upgrade your practice with successful, wealthy clients.

by anthony glomski and russ alan prince
your $5 million high-net-worth practice

competition for high-quality accounting clients is intense, and the current environment is making it harder for many accounting firms to excel.

see also: the 5 meetings of the (true) wealth management process | collaborative wealth management: defining the framework | protect your clients’ assets | even entrepreneurs must diversify | when clients cash out: four smart financial moves |

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

if you’re ready to serve successful business owners and wealthy individuals, then there are three practice models you should consider. each of the three models shares specific characteristics that make them especially attractive, including:

  • high demand from accomplished prospects
  • high fee structures which these clients pay
  • high margins
  • high realization rates
  • high probability of needing the expertise of various accountants at the firm

because all three practice models are relationship-based, many accountants are already well-positioned to provide new, high-caliber advisory services these highly coveted clients.

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