I can confidently say almost every Partner/Director I talk to wants to grow their firm in some way.
They are trying to do it the hard way or are lost with what to do.
Also let’s not forget non-equity team members looking to increase their revenue portfolio.
Many are then surprised with the simple approach I recommend to:
- grow revenue
- grow profits
- increase average client fee
- delight your clients
and that is:
“Focus On Maximising Your Existing Client Base.”
This is one of the most under-utilised strategies and assets to an accounting firm. Your clients already know, like and trust you. They are already transacting with you at least annually. You have intimate financial knowledge of their numbers and business workings.
… and they have unmet needs you could be helping them with.
This is the quickest, easiest and cheapest way to grow. Your clients get more advice and support that helps with their business and personal lives -> your firm gets financially rewarded.
How do you get started?
Simple, client meetings. Speak to your clients more often. Get out there [even virtually]. Ask them about their burning issues. What they want to achieve. Educate them on services that can grow, save, create ease for them. Then say the only line you need to know:
“Would you like to see how I could help you with that?”
I expand further in the below video.
With it being year end in Australia - you are meeting and engaging with clients. What a great opportunity to talk to them now.
Until next week,