Networking and visibility are key to building any CPA firm. To establish their brand in the community, CPAs must find the business development approaches that best suit their individual style. The following steps will help them pave their own business development path:
Overcome the urge to be the worker bee. CPAs
sometimes get bogged down in dealing with technical or administrative
concerns and don’t spend much energy on rainmaking. Firms even reward
this behavior by encouraging younger staff to keep their heads down
and focus on work in their cubicles rather than taking them along to
client meetings. But to become a partner or start a new firm, CPAs
must expand their skills, develop a client base, and bring money in
the door.
Be yourself. Taking current and prospective clients
golfing or out for drinks has historically been among the more popular
business development techniques. If this approach isn’t your style,
then determine the marketing strategies that best fit your
personality. Community groups, such as chambers of commerce and
professional organizations, give CPAs the opportunity to network with
potential clients in different settings. Social and alumni groups
provide another opportunity for CPAs to showcase their personality. In
addition to networking, these organizations offer CPAs the chance to
practice public speaking, a skill that’s crucial to succeeding at
business development.
Understand what you need to get ahead. Mentors can
be a tremendous help, but it’s important to understand the difference
between a mentor and a sponsor. A mentor may offer advice, but
sponsors will put the CPAs they work with in situations or positions
that will further the young accountants’ careers. CPAs should find
sponsors who can introduce them to clients, give them leadership
responsibilities, and alert them to any training they may need.
Recognizing the distinction between a mentor and a sponsor helps young
CPAs seek out exactly the guidance they need to move ahead in a firm
or gain the experience required to start their own firm.
Ask for work and articulate your value. No matter
how much your clients or business contacts like your work, it may not
occur to them to offer referrals unless you ask first. It helps to
educate existing and potential clients on the value that a CPA offers.
CPA credentials say a lot about your skills and education, but clients
and referral sources still may not realize the many services you can
provide. Make a list of added services you could provide your current
clients so that you’re ready to talk about them when you have the
chance. You may even surprise yourself with what you have to offer.
Be patient. Some marketing approaches may not
produce immediate results, but they can keep a CPA’s name in the
public eye. They include advertising in local magazines, maintaining a
website, and building a presence on LinkedIn. It may take a while, but
building visibility through these efforts can eventually sell a CPA’s
services to prospective clients. Most importantly, have confidence in
your ability to learn. Many CPAs aren’t born marketers, but following
these steps can, over time, help you develop your own business
development path.
Editor’s note: This checklist is adapted from the article “Six Steps to Bring in More Clients,” CPA Insider, March 10, 2014.
—By Ivy Lynn Defino (
idefino@ivydefinocpa.com
), owner of Ivy Lynn Defino CPA PA in Plantation, Fla., and a
member of the AICPA Women’s Initiatives Executive Committee.
