Not All Fish Need Audits

fishing lures AdobeStock_103169363 crop2Market segmentation and why you need it.

By Gale Crosley
Crosley+Co.

Successful CPA firms are typically open to approaches known to yield positive growth. So why are they so reluctant (dare I say impossibly stubborn) when it comes to embracing the concept of market segmentation?It’s often perceived as complex, difficult to understand, and therefore optional. However, it is so fundamental to strategy development that bypassing market segmentation can result in years of wasted effort and disappointing growth results.Market segmentation is the foundation of specialization, a natural outgrowth of mature markets like ours. CPA firms no longer have the luxury of being all things to all clients. Today’s market conditions require that we hone in on the needs of focused buyer groups with similar attributes. But first, we need to know what those groups are and what they need.
 

It’s a lot like fish. Not all fish are the same, and they certainly don’t all need audits. Some trout need tax work. Bass require business consulting. And flounder, well, they “flounder” and need help with everything!

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Gale Crosley



About the Author

Gale Crosley, CPA, of Crosley+Co., is one of the Most Recommended Consultants in the Inside Public Accounting BEST OF THE BEST, one of the Top 100 Most Influential People in Accounting by Accounting Today and has been named to The Advisory Board Hall of Fame.

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She consults with large and large-thinking accounting firms, assisting managing partners, partners, and marketing directors, to effectively increase their firm’s revenues.  She guides them through development of the best strategies and tactics to achieve aggressive revenue growth objectives. Gale’s 35-year-plus career represents a unique combination as a practicing CPA at Arthur Andersen, PwC, and a local CPA firm. She has also held senior management roles in business development and marketing in the cutting edge technology environment with IBM, MCI and several start-up technology companies. Gale has helped dozens of large and large-thinking firms, both domestic and international, create high growth cultures, driving revenue from all aspects of the practice. She is an honors accounting graduate from the University of Akron, Ohio, and winner of the Simonetti Distinguished Business Alumni Award. Gale is a licensed CPA in Ohio and Georgia, a member of the AICPA, the Ohio Society and Georgia Society of CPAs, and is on the Editorial Advisory Board of the Journal of Accountancy. Her cornerstone book, At the Crossroads, chronicles the challenges and successes of a fictional CPA firm struggling with growth.

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