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Gale’s book, At the Crossroads: The Remarkable CPA Firm That Nearly Crashed, Then Soared is a delightful parable about a sleepy, uninspired CPA firm that transforms into an accounting powerhouse.
Meet managing partner Joe Abriola who has just learned that his partners are on the verge of mutiny. How does the firm recover and thrive? Spoiler alert—Gale’s growth model swoops in to save the day! The book is an instructive tale that’s filled with valuable insight on achieving growth despite the odds.
If you follow me, you know that I write and consult extensively around strategic growth. That means I help firms move from reliance on the individual contributor “book-of-business”, tactical, generalist model, to a leader-driven, strategic, specialist approach.
In the big pond where accounting firm opportunities swim, far too many prize catches get away from us. If you’re experiencing this and haven’t figured out why that one got away (or settled for the excuse that it was price), I’m here with answers. It may surprise you to learn that 80 percent of lost opportunities can be tied to the blunders below. Let’s dive in.
I viewed with interest a recent list of the 25 fastest-growing CPA firms in the country. I was pleased to see them on such a prestigious list, but the satisfaction came from another place. It was the fact that those most recognized for growth are not resting on their laurels.
If you’ve never spoken the name of your firm and the words “sales function” in the same breath, it’s time to start making the connection. As accounting practices add advisory services to their menu, annuity revenue will naturally decline. Unlike audit and tax work, consulting projects and retainers can end at any time.
Accounting firms are short on resources and are actively seeking ways to address the deficiency. Many are pruning their rolls, culling unprofitable or problem clients. Others are taking what I consider a highly questionable approach, one that was in vogue 20 and more years ago.
Accounting firms continue to feel the pinch of the great resignation. The dramatic disappearance of team members and the slow trickle of qualified candidates to replace them is a trend that continues to impact our profession.
Good news—accounting firms are reclaiming pre-pandemic opportunities. I don’t mean live people in real offices wearing pants and enjoying donuts on Friday, although good for you if that’s happening! I’m referring to a resumption of the continual shift toward consulting services. The shift that was interrupted by a global pandemic.
In recent weeks, I’ve observed a sometimes subtle but significant shift among forward-looking CPA firms, away from filling the pipeline with leads and toward managing the leads coming in the door. In a time of plenty, as today, these firms are wisely focusing internally to assure that the practice growth side of their business is as strong and sophisticated as the delivery side.
Dan Hood from Accounting Today interviews Gale about expanding your geography.
For many years, only the largest accounting firms had business developers on staff. For smaller organizations, the very idea of “selling” seemed somehow beneath our profession. And with audit and tax nearly the only offerings on the menu, there wasn’t a lot of sizzle to sell.
Dan Hood interviews Gale about how to land the big fish!
Reprinted with permission from Accounting Today Relationships precede revenue. While accountants prize their deep connections with clients, relying on them for referrals is no longer enough, says Gale Crosley, an IPA Most Recommended Consultant. Crosley believes that building new business in this global, mature marketplace is complicated but manageable. Business development needs to extend beyond wringing…
Reprinted with permission from Accounting Today. It drives me crazy to hear complaints about lost business opportunities, when there was very little understanding about how to land that big fish. If you’ve got something of value to offer and are approaching the right buyer, reeling in the big ones isn’t rocket science. It’s a proven…
Gale Crosley recently spoke with Katie Tolin of CPA Growth Guides for an episode of AAMplify!, a podcast series created by the Association for Accounting Marketing. In the podcast’s partner video below, Katie and Gale discuss the critical aspects of managing an accounting firm’s growth pipeline. They go into important issues like what should and…
Reprinted with permission from Accounting Today. As a former auditor, I was trained to do a thorough job, and not fake it. So when it comes to one of my passionate topics, opportunity pursuit, I really have to get on my soapbox. I cannot describe the almost daily examples of poor pursuit techniques I encounter…
Reprinted with permission from Accounting Today. As a former auditor, I was trained to do a thorough job, and not fake it. So when it comes to one of my passionate topics, opportunity pursuit, I really have to get on my soapbox. I cannot describe the almost daily examples of poor pursuit techniques I encounter…
If your goal is to grow your firm and you haven’t considered a qualified business developer, you’ve tied one hand firmly behind your back. A business developer (BD) is a professional salesperson hired to sell your firm’s services.
Developing and closing an opportunity is difficult, even in the best of times. The added challenge of today’s highly competitive (and slightly skittish) marketplace underscores the importance of vigorously and purposefully qualifying leads.
In recent weeks, I’ve observed a sometimes subtle, but significant, shift among forward-looking CPA firms, away from filling the pipeline with leads and toward managing the leads coming in the door.
The managing partner’s approach to growth drives much of what happens in, and to your firm. When that approach is informed, you can expect a successful hunt. When it isn’t, disappointment and frustration are likely.