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

Today’s Bissett Bullet: Partner: “We tried this before and it didn’t work.”
MB: “Based on your analysis of that project, why didn’t it work?”
*silence*
Partner: “Dunno.”

By Martin Bissett

“We tried marketing and it did not work” is a refrain often heard from the managing partner’s office. This is because they neither understand marketing nor understand the failure or success thereof. To understand the subject, we first must master it, so bear in mind that to understand what makes a great marketing person or a great marketing campaign, we first must understand the discipline itself.

Today’s To-Do:

Take advice from a leader in their field about what works and what doesn’t in terms of professional services marketing so that you can delegate the task of marketing your firm in the future with the assurance and discernment that you know what works and what doesn’t.

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Today’s Bissett Bullet: “If a potential client is with a firm that has done a good job recording their past, let’s applaud that. We’re still the right choice for their future.”

By Martin Bissett

Just like in politics, it’s so easy to disparage the competition rather than provide solutions. We often ignore the fact that the business owner we are talking to is the one who chose the competition in the first place. By disparaging the competition, we are disparaging the client’s decision-making abilities and suggesting that they would not be clever by choosing us either.

When we find an accountant who has done a genuinely good job, let us congratulate our prospect for having partnered with a strong professional organization and not lose sight of why no matter how good they are, we are better.

Today’s To-Do:

Let’s understand before we ever get to a meeting with the prospect how we are likely to be superior as a commercial choice for this business. We should not be competing on price, we should not be competing on services, but we should always be competing on outcomes.

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Today’s Bissett Bullet: “Well, what you say is very interesting but it seems like a lot more money for no extra benefit.”

By Martin Bissett

Have you heard this objection? If the above claim is true, then unless you have presented a like-for-like proposal that is significantly more expensive than your prospective client is currently paying, they simply haven’t understood your offer.

Calmly re-explain how your proposal meets the needs of their business over and above what they currently receive and talk them through the outcomes that they can expect for this increase in fee. Ultimately, if they understand the benefit and aren’t prepared to invest then you’ll know to walk away.

Today’s To-Do:

Be prepared for this scenario by rehearsing with a colleague prior to your presentation. If this particular prospect were to need further explanation, which outcomes would you highlight and which of your success stories may resonate?

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Today’s Bissett Bullet: “Technology designed to set pricing should be used as an aid, to sense-check a proposal and ensure that you are receiving fair remuneration for the value that you provide, not as a crutch because you don’t understand the mechanism of pricing.”

By Martin Bissett

If you rely on technology to set your pricing then you will get caught out if your prospect would like to progress but wants to pick and choose from your preset solutions. Subordinating all of your thinking to the technology will leave you unable to adapt that package under pressure and puts you in danger of making a costly error.

Today’s To-Do:

If you are in the habit of relying on technology to calculate pricing, stop. Use it only as a sense check from now on. If you have any proposals yet to be delivered, make sure you fully understand the value of each solution so that you can alter the package to reflect any requests from your prospective client, without any impact on profitability.

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Today’s Bissett Bullet: “A real frustration for many accounting professionals is clients who ignore a suggestion from them but when someone else suggests it, they think it’s a great idea. Why does that happen?”

By Martin Bissett

Superior accounting firms deliver to their clients; increased self-esteem, saved businesses and saved relationships to name but a few. In order to be considered a trusted advisor, sometimes you need to be tough with a client to deliver the outcomes that they need as well as the ones they want. Then they will start to take you more seriously and value your suggestions rather than pay them lip service.

Today’s To-Do:

Identify a client for whom you know you can deliver a better outcome if they take the action you’ve previously suggested and make a note for your next meeting to revisit the conversation. Prepare your case in advance and stand firm.

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