The world is flat, according to the best-selling book by Thomas Friedman. He writes about technological changes that are linking people and breaking open business opportunities at warp speed. That’s certainly the case for forward-looking CPAs, especially those in mid-market firms. Just a few years ago it was unthinkable that a mid-size CPA firm could compete and win multi-location opportunities from prospects with operations outside of the U.S.
Articles by Gale Crosley
Many CPAs picture the selling cycle something like this: Have a meeting where you identify a need, write a proposal, sit down with the prospect and walk out with the business. I call it the two-call close and it’s often more of a fantasy than a formula.
Reprinted with permission from CPA Practice Management Forum. CPA firms often ask for my top recommendation to help them win large opportunities. Unequivocally, I suggest the development and strategic deployment of the “opportunity pipeline.” Hands down, it is the single best tool to identify and reel in big pieces of business. Sound difficult? It’s not.
As fallout from passage of the Sarbanes/Oxley Act in 2002 continues to emerge, one certain area of change surrounds audit committees.
For CPAs, winning significant opportunities is the ultimate team sport. If you or other tigers in your firm are accustomed to going it alone, you’ll find it’s next to impossible to do this consistently when the business is large and complex. The reluctance of CPAs to recognize this keeps many from conquering high-value targets.
Recent events in the profession will continue to result in more and larger clients evaluating a potential change in their CPA firm over the next couple of years. Firms which invest in the expertise necessary to win significant opportunities have a once-in-a-lifetime ability to grow their revenue substantially. In evaluating this ability to win, I
For many mid-market accounting firms, the status and activities of the Big Four (B4) are of passing interest, but not much more. But EOS Accountants LLP has charted an innovative and successful growth strategy by linking with the Big Four and other firms.
The more things change, the more we need to change with them. Massive shifts in market conditions are profoundly affecting our profession. But it’s not just the market that’s recalibrating. We’re also in the midst of a revolution in information gathering, which influences how our buyers think and how they make decisions.
Anybody who knows how to eat knows how to generate a lead, right? You call a banker or a lawyer, make lunch reservations at the local chop house and before you’ve digested the creamed spinach you’ve landed a hot prospect.
You may be surprised to uncover a health tip in an article about revenue growth, but that’s exactly what I’ve got for you. It’s guaranteed to minimize stress, and it has nothing to do with food or exercise. It’s “the research call,” an information-gathering strategy that does not require you to engage in the traditional approach to active rainmaking.