Learning To Become a Rainmaker for a CPA or Accounting Practice
- Author Brian O'connell
- Published February 3, 2011
- Word count 550
What are YOU doing to improve your accounting firm?
While the CPA sites I spend so much time talking about provide a powerful edge for your firm, if you really want to make it in today's doughy business environment you need to do more. You also need to look back to time-honored marketing practices. To succeed you need to be more than a good accountant. You need to be willing to put time and effort into sales.
Commit to your marketing. Fully explore your market. Take the time to answer some important questions.
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What do your clients need?
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What approaches do they respond best to?
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What are you looking for in your clients?
Gale Crosley, CPA firm growth consultant, says, "The key competency to winning business is knowing how to discover and build value at the client level."
How? It's all about getting face to face and asking the right questions. It's unlikely that the client even knows exactly what he needs, but if you really listen they'll give you plenty of what Crosley calls "contextual clues".
Ask questions relating to the client and the organization they represent, like how long they've been there and what they are trying to do in the organization. Does the organization provide adequate resources? Get personal. Ask how their job could be made easier and what they consider their most important areas of focus are.
The questions aren't really all that important, it's the answers that really matter. Most people are eager to talk about their businesses. All you need to do is get them started. The trick is learning to really listen for the clues the clients offer that will tell you what they really need. If you're long term goal is to keep the client don't just look for chances to increase your billable hours. Look for ways that you can really help the client run his business more smoothly.
Theres a special term for people who are good at this. We call them rainmakers.
Most firms have at least one good rainmaker. Some are fortunate enough to have a great one. These are the folks that you should go out and watch.
Great rainmakers learn through what appears to be just small talk. A great rainmaker can gather personal details that can lead to bigger opportunities down the line and a bigger bottom line for the company.
Take what you learn from these meetings and apply it to your own clients. The key is to learn what drives your clients to make the decisions they make.
By understanding what the great rainmakers do, you'll be able to step beyond the "idle social chitchat," work past what might seem like "random acts of networking," and gain the ability to figure out the reasons behind how a client makes a decision.
When you figure out the "how," you'll be able to insert solutions into a conversation and gain the confidence of your client.
Taking the time to do this will give you new tools for getting through the recession.
So, what can CPAs do during a recession to keep their business strong? . It's simple really. Study the vital methods and processes needed to be competitive. Really listen for hints about the customer's needs and motivations.
Lastly, seat yourself as your company's new rainmaker.
Brian O'Connell is the owner and founder of CPA Site Solutions, one of the country's largest website design firms oriented solely to CPA sites. His company presently provides websites for more than 4000 CPA, accounting, and bookkeeping firms.
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