Newbie advice

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#1
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11
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26-Nov-2019 9:36am
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Michigan
Hello Everyone,

I am a new to this forum. I work full time and started my firm on the side and would appreciate any advice on how to grow the firm/ clients.
I have a lot of experience in accounting & tax and have my CPA license. Any advice on how to market yourself (especially if you are not much of a talker :D )

Thanks.
 

#2
Webster  
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317
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5-Nov-2015 5:05pm
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On TPT, of course
Well, I've found the talking takes care of itself, once they know you are an accountant. Just answer the questions. You can give them even better free tax advice than their barber can.

It also helps to find a business partner who is a people person and has plenty of contacts. He talks to the people, I talk to the computers.
 

#3
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2887
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21-May-2018 7:50am
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Northern MI and Coastal SC
Its all about relationship building. Network, network, network. Build relationships and establish trust and credibility, and the work will start flowing in faster than you can imagine. Give out free advice in the process. Do not waste money on advertising, it simply does not have adequate ROI for our industry.
 

#4
ATSMAN  
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2094
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31-May-2014 8:34pm
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MA
I work full time and started my firm on the side and would appreciate any advice on how to grow the firm/ clients.


Are you currently working at an accounting firm? Do you have a non-compete agreement?

As others have said networking is the key to success. When I first started in this business I associated myself with an older accountant who was going to retire in a few years and I took care of the overflow and "junk" returns to get started and eventually purchased a portion of the business.
 

#5
zl28  
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22-Apr-2014 10:27pm
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usa
Somehow when i first started, i managed to incorporate that i was a self employed cpa into all my conversations. That helped. But mainly giving what i deemed excellent service at an excellent price grew the practice rapidly. As the practice grew, so did the hourly rate.

My best advice would be what would it take for you to recommend a professional?

Then do that for your customers.
 

#6
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11
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26-Nov-2019 9:36am
Location:
Michigan
My issue is that there a lot of EAs and 'CPAs' who are deeply entrenched in the market.
 

#7
cp_acwt  
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22-May-2014 1:59pm
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MichigaN
Buy a practice or associate yourself with a retirement minded practitioner. Any marketing you try may work but it will take some time to have an effect. I would be very suspect of any organization claiming they can build your practice.
 

#8
Beagle  
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189
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16-Jan-2020 3:15pm
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Freelander
Unless it is a really tiny market, competition shouldn't be a major factor. Find a specialization and pitch your services to everyone within 20 miles who qualifies.

I had this sort of discussion years ago with an insurance guy who declared CPAs are never salesmen. That's just flat out false and successful CPAs are salesmen to some extent. It's hard to become a partner without bringing in business and that means sales.

As an example I've been in business for 30 years and I've had 1 CPA firm call me to see if I needed an accountant. (We are a financial planning / investment firm which quietly does taxes for our clients) I know it isn't your comfort zone but you HAVE to pitch your services. My brother worked at one of the big 4 (then 8) and went to work for a customer. He commented a while back that he's had 2 CPA firms inquire in 19 years. When he was in the industry he'd always been taught that companies switch firms ever 7-10 years.
 

#9
ATSMAN  
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MA
I had this sort of discussion years ago with an insurance guy who declared CPAs are never salesmen. That's just flat out false and successful CPAs are salesmen to some extent. It's hard to become a partner without bringing in business and that means sales.


You are correct. It applies to most professions where you have to interact with the "customer". Attorney or a Jiffy Lube guy trying to up sell you products and services.

The successful ones are better salesperson than others.
 

#10
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2612
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24-Jan-2019 2:16pm
Location:
North Shore, Oahu
Don't be afraid to ask your clients to refer their friends and family - especially after you bond with someone. Just be honest about growing your practice. Some folks will make it their mission to bring others in. But don't give them discounts for it. Clients refer others because they trust you, not because you pay them.

Even though it's tempting to have low prices to attract a lot of new clients fast, you will get better clients and a better current gross income from having high prices. Nearly all of your engagements will continue with you anyway. Price is less important than you think. Plus you will get much better clients. Better current gross income? Better clients? Less work? Yes please.
 

#11
ATSMAN  
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MA
Clients refer others because they trust you, not because you pay them.


Generally true but I have found most clients appreciate when you give them something as a token of appreciation.

I am not talking about a $10/20 coupon to get off that is quite common in the industry.

I have given wine, gift cards,took them to lunch/dinner, tickets to shows/games etc. and they all work!

You have to figure out what works with your client.
 

#12
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11
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26-Nov-2019 9:36am
Location:
Michigan
Thanks. I have been trying to 'associate yourself with a retirement minded practitioner' but no luck finding one so far. Everyone I met so far is only interested in outright sale.
 

#13
cp_acwt  
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MichigaN
That might just be your opportunity!
 


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