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Analyze Your Firm to Keep It Current
Does everyone have the same vision?
By August J. Aquila
Price It Right: How to Value Accounting Services
I have discussed some of the issues behind developing an effective website. If your partners can’t agree on the overall points of the website, it merely means that there are different visions for the firm within the firm. The best way to overcome this obstacle is to conduct a self-analysis.
MORE: What Makes a Great Website? | Losing Can Help You Win More | Eight Areas to Cover for Personal Goals | Service Quality: The Key to Client Retention | How Life Cycle Changes Your Marketing | Clients Buy Solutions, Not Features | Make Sure You Know What You Will Get from Your Marketing | Three Pillars Support a Successful Accounting Firm | Clients Have Six Reasons for Needing You | Six Ways to Market Your Technology Consulting Practice | Sixteen Marketing Activities to Try | The Four Steps of Your Personal Marketing Process
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You can use the following questions at a firm retreat. Hand out the questions to the retreat participants prior to the meeting. Ask the retreat participants to write out the answer to each question. Then have open discussions about the questions and their answers, and try to come to some agreement. Here are the questions:
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What Relevance Means for Staffing in Accounting
Seventeen ways to improve.
By Marc Rosenberg
CPA Firm Staff: Managing Your #1 Asset
The business graveyard is littered with major organizations that missed the boat by failing to see cataclysmic game changers happening right before their eyes.
- Ice companies failed to get into refrigeration because they saw themselves in the ice business.
- Railroads missed out on autos and aerospace because they didn’t see themselves in the transportation business.
- A CEO of Digital Equipment Corporation said he couldn’t imagine why people would want a computer in their own house.
- It took the Wright Brothers five years to get the U.S. government to even talk to them about their invention.
MORE: How Accounting Staffing Has Changed
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In all fairness it’s extremely difficult, if not impossible, to anticipate and accept massive changes like these.
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Implement These Two Daily Rituals
BONUS: Lists to help you focus and measure.
By Sandi Leyva
The Complete Guide to Marketing for Tax & Accounting Firms
There’s something special about the word ritual. It sounds sacred, like you wouldn’t dare break it.
It sounds a little mysterious, as if there’s a component you can’t quite control. And it sounds colorful, like something full of character that you would never get bored of.
MORE: Three Ways to Follow Up with Prospects | Are You Throwing Away Profits? | Three Steps to Becoming a Millionaire | How to Use ChatGPT to Create Images | Create a Bad Website in Ten Easy Steps | Leverage Your Strengths to Beat Stress | Are You Crossing Off Your Business Bucket List? | Ten Ways to Make Your Business Irresistible | Five Ways to Target the Low-Hanging Fruit | Are Your Revenue Projections Realistic?
Exclusively for PRO Members. Log in here or upgrade to PRO today.
We don’t think about rituals much when it comes to business, but I think we should. What rituals could you create in your business that will rev up your revenues? Here are two ideas to get your engines started.
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Bissett Bullet: A.C.C.O.U.N.T.S.
Today’s Bissett Bullet: “A pipeline is essentially a list of people we would like to bring value to, but how can we use it to forecast new business?”
By Martin Bissett
How can you tell which of your potential clients are really looking to work with you and which are wasting your time?
Introducing the A.C.C.O.U.N.T.S system. Grading your prospects using a binary scoring choice – 0 for no, 10 for yes – to each of the following criteria will help you to determine who will want to work with you and who may just be comparing prices.
Answer – Can we solve their problems?
10 = yes, 0 = no
Cash – Can they afford us?
10 = yes, 0 = no
Convince – Do we need to convince anyone else in the business?
10 = yes, 0 = no
Objections – Are there any major objections unresolved?
10 = yes, 0 = no
Undertake – Is this work we actually want?
10 = yes, 0 = no
Necessity – Do THEY feel the need/urgency for change?
10 = yes, 0 = no
Timing – Is the next meeting date in the diary?
10 = yes, 0 = no
Signatory – Does your proposal need someone else to sign it off?
10 = yes, 0 = no
The higher your score, the more likely you will win the work. Got 6 yeses? There’s a 60 percent chance you will win the work. Now, what do you need to do to change the 0s to 10s?
Today’s To-Do:
Start to grade your pipeline against the A.C.C.O.U.N.T.S. system to help you prioritize your efforts and forecast new business in any given week or month.
See more Bissett Bullets here
Perception, Even Your Own, Is Reality
You have to believe in yourself.
By Martin Bissett
Business Development on a Budget
“No man has the ability to step outside of the shadow of his own character.” – Robespierre
As far as our potential clients are concerned, how they perceive us is how we really are to them, regardless of the truth of the matter.
MORE: Eight Questions That Target Personal Accountability | How to Prepare for Partnership | Five Questions to Help Forecast Your Firm Growth | Do You Deliver on Your Website’s Promises? | Five Questions About Facing Challenges | Be Clear About Your ROI Proposition | It’s Time to Prepare the Next Generation | Who Are You More Committed to, Your Firm or Your Clients? | Nine Checkpoints Before Every Prospect Meeting | Three Questions about Conversion | Six Keys to Turning Prospects into Clients | Don’t Overlook Internal Communication | Four Reasons People Struggle with Communication | Why Firm Culture Matters for Partners
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Because of this, it’s important to realize that when we are meeting a new potential client who has not been referred to us, it does not matter what the reality of our value proposition is; it matters how that potential client perceives our value proposition. Therefore, to be effective in winning work, we must understand how we can positively influence their perception of us at each stage of the relationship-building process.
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