Here’s what you’re looking for: Martin Bissett

Today’s Bissett Bullet: “When a prospective client already has an accountant, it is important to recognize that although they are demonstrating an interest in working with you by agreeing to meet, there will be a degree of loyalty to the current firm even if they’ve identified the need for change.”

By Martin Bissett

This is important because it places them out of their comfort zone. They may feel apprehensive about severing ties and it may not be that the accountant is doing a bad job, simply that their business has grown past the point that the existing firm can continue to support them. Whatever the case, you won’t win an emotional argument with logic. 

Today’s To-Do:

Look at the next prospect meeting in your diary. What do you know about them already that will help you to speak to them in emotional terms? Select a story about how you helped a similar client that may resonate and have it in your armory.

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Today’s Bissett Bullet: “I’m a small firm. How can I possibly be perceived as ‘superior’ to the much larger firms that my prospective client is meeting?”

By Martin Bissett

There is a mindset shift needed here. “Superior” is not “bigger” so turnover, office size and number of partners bear no relevance.

You are superior when you show a genuine interest in the business you have gone to see and take the time to understand their personal and professional motivations. When you take that understanding and use your experience and your service lines to bring the answers to their door, that is being superior. Win the advisory war by becoming the best relationship builder firm, not the biggest firm.

Today’s To-Do:

Previously, I asked you to identify three clients who had come to you having been dissatisfied with their experience with their previous accountant. Were any of those firms larger than yours? What about the previous firms of other clients whose situations you have improved? When imposter syndrome creeps in, remember those clients.

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Today’s Bissett Bullet: “Selling ‘pushes’ something to a prospective client. Attracting them to buy ‘pulls’ them toward your value. There’s a big difference.”

By Martin Bissett

The accounting profession is awash with marketing and business development gurus who have come from a retail environment. They believe that what works in retail, such as a certain percentage off your first year’s fee or a “buy now and save,” or indeed a deadline-style approach, is going to be effective in professional service selling. In reality, the professional service relationship requires a lot more maturity than that.

Our goal as a practice should always be to demonstrate irrefutably how good we are through third-party stories and case studies and let the tribe select themselves from there. If we “push” to everyone, we are going to end up with a lot of clients we did not really want. Not all business is good business.

Today’s To-Do:

Take a look at your current marketing content and ask yourself, am I pushing services upon an indifferent marketplace here or am I simply showcasing the results that I obtain for clients day in, day out? If it is the former, change it. If it is the latter, broadcast it even more loudly than you are now.

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Today’s Bissett Bullet: “You should be in control of what happens next but allow the prospect to be in control of WHEN it happens.”

By Martin Bissett

Accounting professionals are generally of a more technical, reactive background and aren’t used to working in the kind of proactive manner that is required for business development. When we finish a meeting with a potential new client and are at the stage where we need to ask for the next meeting, it can feel as though we’re being pushy.

When you ask a prospect when would be appropriate to come back and talk them through your solutions and they tell you they have a busy period coming up and can’t possibly meet for three weeks, that’s fine, simply suggest a date three weeks away. Allow them to dictate when the next meeting happens as long as it does. They will then be happy to meet with you without feeling bullied or manipulated and you will have the opportunity to see them again having given careful consideration to your proposal.

Today’s To-Do:

Role play this scenario with a colleague. When you realize that this approach doesn’t feel pushy on the receiving end, you’ll feel more comfortable asking for the meeting in future.

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Today’s Bissett Bullet: “As the old saying goes, we esteem too lightly that which we obtain too cheaply. That goes for low fees in the accounting profession too.”

By Martin Bissett

When you lowball a fee, do you instill confidence in the prospective client that you’ll be giving your full and very best attention and resources to their account? From real-life feedback, I can advise that Grade “A” prospects doubt that very much.

Today’s To-Do:

When you next lowball a fee, create a justification in your mind for doing so beyond “we need the business” and explain it to the team who will have to deliver the work under such tight margins. They will benefit from the understanding and morale might not take as big of an intangible hit as it usually does in these cases.

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Today’s Bissett Bullet: “I told your person on the phone I was happy with what my accountant does. Good. Tell me how they get involved with influencing your future.”

By Martin Bissett

We are very easily thrown off the scent when a concern is raised against us. We automatically interpret this as rejection and as such do not use common sense to deal with what is a fairly straightforward issue. When somebody tells you that whoever they booked the meeting with was informed that you were perfectly happy, this is them demonstrating to you that they are scared about the possibility of changing. Put them at their ease with a very simple follow-on question and make sure that they know that you are not so easily put off.

Today’s To-Do:

If available, ask a colleague to practice resolving concerns with you in a safe, comfortable environment so that you do not freeze in the real situation.

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Today’s Bissett Bullet: “If you are not seeing growth in your firm, there is only so long that you can stand back and wait before you must take control of your own destiny.”

By Martin Bissett

What are you doing to return to growth? Is your pipeline in place and are you having conversations with prospective new clients? Are you known for what you do and are you asking your clients for those stories about the outcomes you have created for them so that you can leverage them to bring you new business?

Today’s To-Do:

Adopt a return-to-growth attitude. Which of the above could you do better in order to create new opportunities for your business?

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