{"id":71268,"date":"2020-03-09t12:00:05","date_gmt":"2020-03-09t16:00:05","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=71268"},"modified":"2020-03-09t12:55:20","modified_gmt":"2020-03-09t16:55:20","slug":"does-your-firm-recognize-all-its-skills","status":"publish","type":"post","link":"\/\/www.g005e.com\/2020\/03\/09\/does-your-firm-recognize-all-its-skills\/","title":{"rendered":"does your firm recognize all its skills?"},"content":{"rendered":"

\"silhouettes<\/a>maybe you have more to offer.
\n<\/strong><\/p>\n

by marc rosenberg<\/i>
\n
the rosenberg practice management library<\/i><\/a><\/p>\n

true story: i was leading a meeting of a seven-partner, third-generation cpa firm. their revenues were stagnant and their profits disappointing. one hundred percent of their revenues were audit, accounting and tax. thirty percent of their business clients were in oil and gas.<\/p>\n

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we started discussing ways to increase revenue. the dialogue went something like this:<\/p>\n

rosenberg:<\/strong> i notice that your firm is 100 percent compliance, no consulting. aren\u2019t there some consulting opportunities there?
\n
\nthe partners:<\/strong> what would we do? we\u2019re accountants. we don\u2019t know how to do consulting.<\/p>\n

rosenberg:<\/strong> you\u2019ve told me that 30 percent of your business clients are in oil and gas. is that correct?<\/p>\n

the partners:<\/strong> that\u2019s true.<\/p>\n

rosenberg: <\/strong>roughly how many businesses are included in the 30 percent?<\/p>\n

the partners:<\/strong> about 40.<\/p>\n

rosenberg: <\/strong>how long have you had these clients?<\/p>\n

the partners:<\/strong> most of them have been with us for 30 years or more.<\/p>\n

rosenberg: <\/strong>would it be a safe guess that you guys know a lot about the oil and gas industry, what the more successful companies are doing and what holds back the less successful ones?<\/p>\n

the partners:<\/strong> oh, yes. we have acquired a tremendous amount of knowledge about the oil and gas industry, passed down by three generations of experience.<\/p>\n

rosenberg: <\/strong>and i\u2019ll bet that in the course of doing your a&a and tax work for oil and gas clients, you see things about their operations that cause you to scratch your head. maybe even some of those times, you feel you can help them with these issues. am i right?<\/p>\n

the partners: <\/strong>well, maybe.<\/p>\n

rosenberg: <\/strong>then that\u2019s your answer for what to consult in. when you work with these 40 companies, you must constantly observe weaknesses or shortcomings in following best practices. there are tremendous consulting opportunities for you right under your nose!<\/p>\n

the partners:<\/strong> silence.<\/p>\n

the client spotlight system is simply a process for cpa firms to identify ways to provide additional services that help clients improve their business, increase profitability or both.<\/p>\n

    \n
  1. it\u2019s a systemic way to deepen and defend your most important client relationships.<\/li>\n
  2. initial targets include clients\n