here’s what you’re looking for: martin bissett

today’s bissett bullet: “how long does it take for a technical professional such as an accountant to move out of their comfort zone and build business development habits?”

by martin bissett

as a rule – nine months. the journey begins with discomfort and bewilderment, but if you practice consistently then not only will you become used to proactively building your pipeline, you will reap the rewards and become eager to do more of the same.

start by taking every opportunity to tell people the impact of what you do, on your clients. reach out to them on linkedin, speak to them at events, post helpful content on social media. positive feedback from prospective clients provides external validation, convinces you of your own value and helps you to ascend the mindset curve.

today’s to-do:

start now. find a space in your diary in the next two weeks, decide on a means to communicate with your target audience and schedule it in. will you write a blog? attend a networking event? record a video with some top tips to post on your social media? the choice is yours.

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today’s bissett bullet: “the best way to talk about price is in terms of what they’re paying already.”

by martin bissett

when you talk to clients (or potential clients) about the price you want them to pay, minimize the impact for them. first, take your proposed annual fee and divide it by 12 to give them a monthly price. then, look at what they pay already and only talk to them about the increase on what they already pay (if any) rather than the amount in full.

today’s to-do:

take out the last proposal you wrote that was unsuccessful, take the price you quoted that client and minimize it as above. what difference could it have made to their mindset if they were presented with only the increase on their monthly fee?

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today’s bissett bullet: “how often do you ask your current clients for feedback?”

by martin bissett

building great client relationships is a fundamental part of gaining worthwhile referrals for your firm, and understanding which of your clients are the most satisfied will give you an indication of your most passionate advocates.

how do you find out? ask them! ask how satisfied they are, how likely they would be to recommend you to a business and whether they would be willing to provide a short testimonial for marketing purposes.

today’s to-do:

how you gather that feedback is entirely up to you. whether you pick up the phone or send a short feedback survey, keep it simple.

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today’s bissett bullet: “first impressions last. when you meet with a prospective client for the first time, how do you want them to remember you?”

by martin bissett

it is important that you demonstrate enthusiasm for that prospect and their business but it is also important to remember that there is a fine line between “upbeat” and “overbearing” and the latter can be construed as “pushy,” which will do you no favors.

in your eagerness to build rapport, be sure to avoid overfamiliarity. demonstrate that working with you would be a better experience than they currently have, but do so by showing that you care and are excited by the opportunity, without invading their personal space or finishing their sentences for them.

today’s to-do:

be aware of how well intentioned attempts to build rapport and put a prospect at ease could achieve quite the opposite.

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today’s bissett bullet: “the cost of cloud-based software or automation tools is no longer prohibitive for smaller firms so if everybody is using them, how do you stand out?”

by martin bissett

if technology is readily available and at a cost that makes it viable for firms of any size, then what sets you and your practice apart from your competitors is the way in which you use the time that the technology saves you, to better support your clients.

today’s to-do:

estimate the amount of time you save in a week in comparison to before you upgraded to your current software. how much of that time do you spend reaching out to clients just to check on them or add value?

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today’s bissett bullet: “it is important to know the cost price of any given job.”

by martin bissett

it is not an exact science. you can calculate that cost with any given hourly recovery rate and however you see fit, but you need to know what it is. this is not to inform your pricing, but to inform what your break-even is. when you set your fees, they must never equate to less than cost or you are loss making, and unless there is significant long-term benefit to doing so on a short-term basis, you don’t want that.

sounds obvious, right? so how come so many accounting firms don’t get acquired because they don’t make any money?

today’s to-do:

if you were to be honest with yourself, how many prospective clients really do not want to change their accountant, and how many just did not see the reason to? now, on that basis with that reality confronted, be stronger in your next meeting with a prospective client.

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today’s bissett bullet: “who is sending new business your way and who isn’t but really ought to be?”

by martin bissett

a “center of influence” is someone who is well known and respected within their community or industry and as a result is a valued and trusted source of referral.

this may be a restaurant owner who knows everybody in the local area because they come through their door on a regular basis, or the head of your local chamber of commerce or networking group.

today’s to-do:

list two or three people who are influential in your local area that you don’t have a relationship with but you should, and get to know them. identify a mutual contact who could make an introduction or a local networking event where you might have an opportunity to speak with them.

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