Here’s what you’re looking for: August J. Aquila

MARKETING & SALES

The Cost of Losing Clients

Money coming out of sink faucet and going down drain

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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MARKETING & SALES

Success Secrets of Great Business Developers

Businessman pole vaulting toward his goal

Why you have to set a goals PLUS a quiz.

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

I speak with a lot of accountants and consultants every week, and I look for those recurring characteristics that make some of them outstanding in various areas of building and managing a professional practice. Those who are great at business development all seem to follow the same process, especially when the going gets tough.

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Briefly stated, these professionals are successful because they have a clear vision of what they want to accomplish. They reinforce that vision with positive phrases and affirmations that reinforce their success. The following quiz will assess your business development acumen.
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MARKETING & SALES

Market to the Business Life Cycle

illustration of business life cycleMeet 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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MARKETING & SALES

Eleven Pitfalls of Mergers

two men standing and shaking hands

And three steps for success.

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

The trend for small and midsized CPA firms to merge is accelerating as the competitive environment becomes even more demanding. While hundreds of firms merge every year, history continually shows that at some point in the future, things don’t always work out. Like marriage, some mergers are successful while a great majority fail. Many of the reasons for failure can be avoided if firms do their homework at the front end before entering the merger.

MORE by August J. Aquila
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The merger and acquisition drivers are constantly changing. Some of the drivers we see today are a constantly changing marketplace, the creation of megafirms beyond the Big 4, the sophistication of clients, the high demand for qualified people, technology, the cost of acquiring new clients, and finally, the accounting industry being in a mature market.
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MARKETING & SALES

Four Downsides of a Production Orientation

Hand moving triangle along beam to indicate balance between price and value

Where to focus instead.

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

An emphasis on production (billable hours) can have negative consequences for an accounting firm. An emphasis on billable hours causes professionals to focus on internal measurements, i.e., the number of hours charged to a client, and not external measurements such as client satisfaction.

MORE by August J. Aquila
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They also emphasize the technical aspect of accounting work and keep professionals from developing a marketing mindset. Let’s look at the four negative consequences of a production orientation.
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