Most of us don’t like to have to go out and sell – partly because it makes us feel like we are “asking” for money. In my last Rainmaking blog, I asserted that it’s hard to ask for money and that theme continues to resonate. But what if asking for money were easier? What if it didn’t have to seem like asking for money? What if asking your clients to assist them with their tax, accounting and finance needs just seemed like an ordinary part of the conversation?
As accountants, many of us want to be valued by our clients because we are technically competent and trusted business advisors. But we don’t like to have to sell to them. And we certainly hate the thought of cold calling – it doesn’t really work in our businesses anyway! As partners or owners of firms, we understand that we must bring in business to survive, but younger staff members may not truly get that message – either because they simply don’t like to sell or because they are not receiving guidance from their supervisors. And we can all feel a little bit guilty about that. Yet, in order to build thriving CPA practices (or other professional services firms in general), we must be able to have the selling conversation with our staff so that they begin to add those skills. It begins largely with focusing on our existing clients and how we can provide additional value-added services to them. Here are some suggestions:
- In the firm’s weekly or monthly staff meetings, highlight one “specialty area” that the firm has in-house (for example, a person in the firm who specializes in valuations, or someone who is an ace at multi-state tax issues), and ask the firm specialist to give a presentation about it. The presenter should include the types of target clients who could benefit from the service, three questions that could be asked of clients or prospects to determine if they are a good target, and an example “case study” of a recent client project the presenter worked on. Then ask staff members to think about 3 potential clients who would be good prospects for a project with the specialist and report out. This kind of brainstorming can lead to interesting discussions.
- Regularly have partners or senior managers take staff members out to client meetings where the topic of selling additional services is likely to arise. Mentor them ahead of time as to why this is a good product to take to this client, and let them watch the senior person in action. Make sure to debrief afterwards. It’s helpful for younger staff to see how a sales process unfolds. Ideally, your team will walk away from the client meeting with some action items as to how to follow up. Allow the staff person to have access to those next steps as well. Follow it through to the ultimate sale or signing of an engagement letter.
- Formalize a process for tracking success, actually track meetings with prospective clients, and monitor the conversion rate or closing rate. While this seems time-consuming, it’s really not. And it’s necessary. If you don’t track your successes, how will you really know whether your plan is working, and whether it’s working consistently. Track the number of existing clients you speak with, potential clients, referral partners, etc.
Still need some help starting the conversation? Consider enrolling your staff members in my upcoming webinar series – Jumpstart Your Rainmaking! It’s a 3 part (3 week) series offered on Dec 5, 12 and 19th – just in time to establish a mindset and a written plan prior to the new year! We also cover the accountability and tracking piece. Some of you senior folks may want to sit in for that session! For more information on the series, click here. Early bird registration runs through November 18th!
Monika Miles is President of Miles Consulting Group, a firm specializing in multi-state tax consulting for middle market businesses. Clients include technology, manufacturing, software and SaaS based companies doing businesses across state lines. Miles Consulting Group assists them in determining the sales tax and income tax ramifications of creating a taxable presence in a state and how to address these issues with the various states. When she’s not assisting clients with multi-state tax issues, she passionately shares Rainmaker strategies with other professional services firms. Click here for more information.
