build and maintain your referral system

horseshoe magnet attracting new customersyou’re still targeting, but with people you know.

by martin bissett

business development on a budget

many firms have a “referral system” in place: take what comes in the door, make a phone call every now and then to a lawyer, bank manager or other introducer to try and shake the tree enough to get something to work on.

more on business development: preventing buyer’s remorse | 2 rules for getting your pricing right | how to prepare for the first meeting with a new prospect | consider hiring a sales director | your perception vs. your client’s reality | appraise your prospects | develop the habit of consistency

this, in fact, is not a system at all. a system is what i will describe in the rest of this post.
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how to calculate your growth target

hands using a calculatorbreak it down into appointments needed. you might be surprised.

by martin bissett
business development on a budget

calculating your growth target is not simply a matter of saying you want to grow by a specific amount within a specific time. it’s a little more complex than that, so let’s look at it item by item.

more on business development: preventing buyer’s remorse | close the deal and get paid | handle objections effectively by preparing for them | the five fastest ways to kill a new opportunity [video] | understand the dna of business development success | do you deliver on your website’s promises? | the science of pipelines | prepare your next generation of professionals

you start with a supposed growth target of $100,000.
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learn to read your firm’s culture

four young business people chatting outside office buildingbonus: 3 outlooks from our exclusive expert council.

by martin bissett

the passport to partnership study collated a number of responses from existing partners of accounting practices in a conversational style.

 

more on the passport to partnership: 5 ways to get buy-in for firm culture | competence: more than technical skills | partnership: competence is just the foot in the door | are you partner material? maybe not

examples that really stood out on the realities of individual variances in firm culture are showcased below.

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preventing buyer’s remorse

invisible businessman saying "blah blah blah blah blah"
don’t be this guy.

are you prepared?

by martin bissett
business development on a budget

you may have the experience yourself of making a major purchase and then having second thoughts most people do.

more on business development: close the deal and get paid | change your mindset, change your future [video] | handle objections effectively by preparing for them | the five fastest ways to kill a new opportunity [video] | understand the dna of business development success | do you deliver on your website’s promises? | the science of pipelines | prepare your next generation of professionals | how to win your first client | 5 ways to make selling easier to swallow | you’re selling all the time

you wonder if you’ve done the right thing or if you can afford the purchase. this is known as buyer’s remorse.
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5 ways to get buy-in for firm culture

industrial metal number 5change management is one of the keys.

by martin bissett

cultural issues are dynamic, very broad and unique in each firm. as such it is a challenge to summarize them accurately and comprehensively.

more on the passport to partnership: competence: more than technical skills | experts advise what partnership takes | partnership: competence is just the foot in the door | are you partner material? maybe not

from our research, however, the wise choice for anyone wishing to get their passport to partnership appears to be to study

  • their firm’s existing culture,
  • that of its senior individuals and
  • that of those who have the ear of those senior individuals

to understand not only the route to partnership, but the terrain that they need to cross too.
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close the deal and get paid

two businesswomen shake hands while seated at deskare you looking at closing all wrong?

by martin bissett
business development on a budget

you might think closing is a huge topic that requires a long post. that’s because most professionals place unnecessary emphasis on closing as if it were a separate step, and in fact that’s what makes the idea of selling so intimidating.

more on business development: how to prepare for the first meeting with a new prospect | the five fastest ways to kill a new opportunity [video] | understand the dna of business development success | do you deliver on your website’s promises? | the science of pipelines | prepare your next generation of professionals | how to win your first client | you’re selling all the time

but the fact is, if you
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competence: more than technical skills

businessman correcting an underling12 ways to determine your competence.

by martin bissett

the passport to partnership study collated a number of responses in a conversational style. two brief but succinct examples that really stood out on the realities of how a firm assesses an individual’s “competence” to lead are showcased below.

more on the passport to partnership: experts advise what partnership takes | partnership: competence is just the foot in the door | are you partner material? maybe not

  1. they need to explain technical data to me in a way that i know they understand it.
  2. what kind of lifestyle does this person have outside of work? we’ll be looking at facebook, twitter and google to find out.

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2 rules for getting your pricing right

businessman extending $100 bills fanned outare you leaving money on the table?

by martin bissett
business development on a budget

there probably is not a bigger issue in professional services selling than pricing. the war between timesheet and value pricing has been going on for some time now, with no sign of resolution in the near future.

more on business development: how to prepare for the first meeting with a new prospect | the five fastest ways to kill a new opportunity [video] | use this spreadsheet to evaluate prospects | before the sales meeting | lowballing is undervaluing yourself | do you have a pipeline or just a list? | overcome recurring fee apathy

pricing is a huge topic, and it’s not within the scope of this post to cover it in detail. i do, however, want to give you my two major rules for the pricing aspect of any proposals you present.
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experts advise what partnership takes

back view of a businessman holding a briefcase and walking forward on white backgrounddefining what competence means for partners.

by martin bissett

the skill in producing financial reports is limited by the quality of the information presented to the cpa by the client. motivation of the client to influence that financial information comes in many forms, some intentional and some unintentional. competence comes first in being able to resist pressure and present a true and accurate position of the client’s organization.

more on the passport to partnership: are you partner material? maybe not | communication: putting it all together | what does the next generation of practice leaders face? | businesses place value on expertise

sounds obvious, doesn’t it? but there’s a twist.
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turning dreams into reality [video]

featuring martin bissett

the six questions that must be addressed before you can succeed at landing a new client.

martin bissett reveals the self-questioning doubts that block accountants from being more effective at winning new clients and recommending added services.

more on practice growth and development by martin bissett:  communicating your value [video]   |  the five fastest ways to kill a new opportunity [video]  |  use this spreadsheet to evaluate prospects  | 9 things to stop doing now   consider hiring a sales director  |  key advice for potential partners  |  understand the dna of business development success  |  before the sales meeting  |  |  how to create an upward spiral  your perception vs. your client’s reality

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handle objections effectively by preparing for them

business meeting of three men3 ways to address a prospect’s concerns.

by martin bissett
business development on a budget

if you have landed the opportunity to present your proposal in person, understand that concerns will be raised, particularly if several decision makers are present. don’t be put off your stride by these objections, or assume they mean that the prospect doesn’t want to work with you. on the contrary, objections can be a sign that there is interest, but they just need more information or assurance.

more on business development: how to prepare for the first meeting with a new prospect | consider hiring a sales director | your perception vs. your client’s reality | appraise your prospects | develop the habit of consistency | banish the idea that selling is difficult | how to win your first client | 5 ways to make selling easier to swallow

when it comes to handling objections or concerns, you have three options on the timing. you can handle it
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partnership: competence is just the foot in the door

businessman in an umbrella sails in storm in the nightsailing through the 7 c’s to partnership may be harder than you think.

by martin bissett
passport to partnership

staffers aspiring to be partners must learn the key characteristics of successful partners. they also must learn how to develop their own personal plans to achieve partnership. firms and staffers alike need a clear set of procedures, processes and milestones for turning top talent into the next generation of firm leadership.

more on the passport to partnership: key advice for potential partners | surviving vs. thriving | what does the next generation of practice leaders face? | commitment: a cautionary tale | how to build your pipeline | 6 keys to the perfect proposal | communication: it’s not about you

there are seven critically important criteria by which partners assess partners-to-be. i call them:

the seven c’s
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