bissett bullet: what’s your bottom line?

today’s bissett bullet: “are you maximizing your profitability?”

by martin bissett

are you doing everything you can to leverage your profitability? outsourcing what has been described as “sausage factory work” such as annual returns has become mainstream in recent years, so in order to remain competitive without compromising your bottom line, it is important to make sure that you minimize the labor intensity of the work you carry out, where possible.

if that is not to be achieved by outsourcing low-fee labor, could you embrace practice technology to improve your efficiencies, instead?

today’s to-do:

where are you reducing labor intensity in your firm? what takes up the most of your time that could be delegated to a junior team member, expedited with investment in new technology or outsourced altogether? identify three ways in which you could increase profitability over the next 12 months.

see more bissett bullets here

read more →

how to attract clients

focus on their needs, not yours.

by martin bissett
business development on a budget

let’s start with two simple definitions to avoid any confusion:

  1. the purpose of marketing is to create the opportunity.
  2. the purpose of business development (sales) is to convert that opportunity into a paying client.

more: four reasons accountants struggle with selling | think of it as service, not selling | stop waiting for business to come to you | afive questions to help forecast your firm growth | four key questions about leadership | does client perception match your firm’s reality? | showing leadership through customer service | firm not thriving? five fixes | the real math behind the sales pipeline | five questions for grading prospects | be clear about your roi proposition | keep business development going during busy season | don’t let recurring fees kill your practice
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

when we meet with prospective clients – and i say this as someone who has sat in on many hundreds of meetings of this nature – we rarely give potential clients a reason to buy from us that they care about.
read more →

bissett bullet: innovation

today’s bissett bullet: “what do meta, uber, ali baba and airbnb all have in common?”

by martin bissett

they have all become the biggest in their industry without owning the very thing that they offer. they have all innovated on traditional business models and grown by embracing technology and connecting with people.

what can we learn? moving to the cloud in this profession has huge advantages, but it means nothing without the ability to demonstrate that benefit to our clients in order to convince them to experience the power of real-time accounting.

the work we do for clients is fueled by relationships. the closer the relationship, the better equipped you are to talk about new technology in terms of how it aligns with their business goals and the benefit it will bring to them personally.

today’s to-do:

what is happening right now in accounting tech that would be of benefit to your clients?

see more bissett bullets here

read more →

four reasons accountants struggle with selling

businessman with head in hands

reframe your thinking.

by martin bissett
business development on a budget

let’s take a look at the last 20-plus years of my experience and my research as to where new clients come from in an accounting practice. i don’t think there are going to be too many shocks here.

more: think of it as service, not selling | eight questions for personal preparation | how to prepare for partnership | stop waiting for business to come to you | are you projecting confidence? | do you deliver on your website’s promises? | showing leadership through customer service | firm not thriving? five fixes | the real math behind the sales pipeline | five questions for grading prospects | be clear about your roi proposition | don’t let recurring fees kill your practice | two steps toward mastering selling | nine checkpoints before every prospect meeting
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

what i’ve found is that 82 percent of all new clients in a given year who come into an accounting firm come in from a referral source. this may be a bank or a lawyer or some other source, perhaps an existing client, who has recommended that a particular business meet with your firm and come on board as a client.
read more →

bissett bullet: ‘x’ marks the spot

today’s bissett bullet: “when it comes to identifying ways in which you could grow your fees by providing more support to your current clients, who do you prioritize?”

by martin bissett

imagine, if you will, a venn diagram with three overlapping circles in which to plot your current clients.

who trusts you the most and would believe in your ability to support them in more ways than you currently do?

who would you categorize as a “grade a” or ideal client?

based on what you know about their business, who would benefit the most from additional support that you are able to offer?

the center of that diagram where they all overlap? that’s where the treasure is buried.

today’s to-do:

draw your venn diagram treasure map. those clients in the sweet spot are your priority.

see more bissett bullets here

read more →

think of it as service, not selling

what are you trying to build?

by martin bissett
business development on a budget

being a successful person according to your own measurement of that, and your own goals and your own standards is different for everyone.

more: eight questions for personal preparation | perception, even your own, is reality | stop waiting for business to come to you | four key questions about leadership | showing leadership through customer service | the real math behind the sales pipeline | keep business development going during busy season | walk the commitment walk | two steps toward mastering selling | thirteen ways to show commitment | clients can’t grow without you | seven mistakes in winning new fees | how to develop your communication abilities
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

if you’re comfortable with yourself, it’s very likely that others will be too. if you understand the value that you offer (how you can improve a client’s situation to move them closer toward their personal and professional aspirations), you’re likely to be able to convey that value in front of a prospect.

read more →

bissett bullet: why bother?

today’s bissett bullet: “why, in general, does marketing in the accounting profession fail so often and if it yields such dismal results, why bother?”

by martin bissett

i’ve said it before and you’ll read it again many times as you stick with me. the secret sauce, the thing that most accounting professionals don’t use effectively enough are their stories. nothing more, nothing less.

we’ve established that marketing creates need and when you tell your clients’ stories – not in terms of what you did, not even in terms of how much time and money you saved, but in terms of what your clients were able to use that time and money for – you attract other people who want the same.

how many stories do you have hidden in your portfolio, even just over the last five years? how many mortgages have you saved? how many personal guarantees have you gotten back from the bank? let’s be really blunt, how many marriages have you saved as a result of your work?

today’s to-do:

find five of your best client stories and ask for permission to use them. some clients will be happy for them to be shared and others will want them anonymized – that’s fine. think about how you can leverage these in your marketing.

see more bissett bullets here

read more →

eight questions for personal preparation

before you can succeed in business, get your house in order.

by martin bissett
winning your first client

you know the identity of your first client, and if you buy into you, then there’s a good chance of potential clients being prepared to do so, too.

more: perception, even your own, is reality | eight questions that target personal accountability | are you projecting confidence? | does client perception match your firm’s reality? | firm not thriving? five fixes | five questions for grading prospects | health, wealth, stealth: challenges on the path to partnership | don’t let recurring fees kill your practice | rate your personal purpose | five ways to make selling easier
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

this is what we must remember about the purchasing of professional services such as accounting. if your prospective client is a grade a or b style opportunity for your firm, then they are not buying the services you provide per se. the services are the vehicles of delivery; the means to the end.

the client is buying the relationship, and they are asking themselves:
read more →