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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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Tracking your interactions is key.

By August Aquila
MAX: Maximize Productivity, Profitability and Client Retention

If you recently passed the CPA exam, Bar or other professional designation, congratulations. You put a lot of work and time into learning about the technical aspect of your profession.

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Unfortunately, what they didn’t teach you is how to build a professional practice, gain clients and understand client needs. These talents are just as important as being a good auditor, tax consultant or management consultant.
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Yes, you can put a number on it, and it might be bigger than you expect.

By August Aquila
MAX: Maximize Productivity, Profitability and Client Retention

It’s important to remember that the most valuable asset of any professional services firm is its clients.

Losing clients can be costly, but do you really know how much it can cost you? Let’s find out.

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The first step is to track client attrition. Be honest with yourself here. It’s important to know how many clients leave each year and why they leave. Most clients don’t leave because of fees. There are two main reasons people leave:

1. You didn’t spend enough time with them (lack of service/attention).
2. They didn’t receive sufficient value for the fees paid.

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Meet your clients where they are.

By August Aquila
MAX: Maximize Productivity, Profitability and Client Retention

The business life cycle refers to the stages that a business goes through from its inception to its eventual closure or exit. Each stage presents unique challenges and opportunities, and it is essential for accounting firms to adapt their marketing strategies accordingly.

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Here are some marketing strategies that can be effective during different stages of the business life cycle. Take a fresh look at your existing clients, and sort them according to their business life cycle: startup stage, growth stage, mature stage and transitional/decline. You want to make sure that as your clients go through these different cycles, your marketing messages and services change and address the right business concern.
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