Learning To Turn Into a Rainmaker for Your CPA Business
With the American economy showing a few early shuddering signs of recuperation the forces of economic failure have, more or less, finished off the weaklings, but many CPAs are still clambering to stay alive. It could be time to candidly evaluate your sales model and and ask yourself an indispensable question: What steps are you taking to improve your practice?
While the CPA sites I expend so much time discussing offer an outstanding edge for your practice, if you want to thrive in today's soggy market you need to do more. You should also look back to time-honored sales practices. It takes time and effort to gather new revenue and make sales.
Commit to your marketing. Fully explore your market. Take the time to answer some important questions.
- What are the client's real needs?
- How should a prospect be approached?
- What are you looking for in your clients?
Gale Crosley, accounting firm growth advisor, states, "The key competency to winning business is knowing how to discover and build value at the client level."
So how do you do this? You have to ask the right questions in a one-on-one, during which Crosley says to look for the "contextual clues" to understand the client's needs.
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 by asking how their job could be easier and what their top 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. Train yourself to really listen for clues that will tell you what the client really needs from an accountant. If you're long term goal is to keep the client don't fall into the trap of looking 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.
Remember that most firms have good rainmakers and many firms have great rainmakers. 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.
What exactly do you need to do, then, to keep your business strong? . It's simple really. Find out how to engage your customers socially. Understand the client. Get to their deep-seated personal needs and motivations.
Become the rainmaker.