With big accounting firms branching everywhere and online solutions and outsourcing services in Third World countries, what can an accounting professional do to compete?

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CPA Marketing Newsletter: Methods of CPA competion

Modern Accountancy Marketing & Sales Course

CPA - Accounting Firm Marketing Newsletter:
Two methods of CPA competition

In this issue we discuss a somewhat unpleasant reality involving expansion and existence.

It is so that it's basically impossible to remain stable in the business world in terms of the size, income, profits and success (and future) of any company or business venture.

If one's income stays level then the inflation — and the expansion of competitors in the area — will mean that the firm is contracting in actual fact.

This is especially so in this age new alternative solutions for the traditional accounting work, such as online services, accounting software and whatnot.

Heck, we even have to compete with bargain-basement outsourcing solutions as the Internet enables accountants in Third World countries to take on work from anywhere in the world!

Thus, to "remain as you are" you need to EXPAND a little every year.

Give those choices then I'm guession that you would prefer your practice to expand at a reasonable and hopefully comfortable pace.

Essentially, there are two ways of making the grade in the competition in your local area.

One is to take clients away from local competitors.

This can be difficult unless you can offer something BETTER — something of more value — to accounting clients AND have a successful method of making them REALISE this unique value your accounting services provide.

The other method of expansion is to offer your existing and new clients MORE services so you earn more from each.

This second method will actually lead to obtaining clients from others since you will develop more VALUE to offer which cannot fail to influence client-acquisition positively sooner or later.

Merely taking clients from competitors is difficult also because the supply of accounting services is usually greater than the demand.

In most regions, there are more accounting professionals than there is demand for their services. The law of supply and demand can thus make every one of the practices in your area suffer from a chronic lack of clients.

And those who HAVE enough clients must do one of two things.

They must compete with either COST or QUALITY. Lowering your hourly rates, underestimating the time it takes to do a job... these are not necessarily the favourite choices of a practitioner.

More work for less pay makes expansion expensive and risky.

Of course, every CPA firm or accounting practice in existence HAS some clients, but most suffer from the chronic lack of available new clients... and especially those who would be willing to pay well for the services and knowhow of the accounting professional.

There just aren't enough of THAT type of client to go round in the area.

 

Value added accounting — unique value for the best kind of client

The usual thinking in this matter is to wait for better times. We wait for something good to turn up... all while the more established firms, having more resources at their disposal for client acquisition, take over even more of the available clients in the region.

Waiting can be prudent at times but not so when it comes to the explansion of your CPA firm or accounting practice. The longer you wait the more advantage you're giving your competitors — and new, big competitors' branch offices — as they have time to establish themselves on your market area.

Thus, the imbalance between the small and the big practices tends to worsen rather than improve for the smaller practice with the passage of time.

This "elimination contest" plaid regionally is like a game of musical chairs in slow motion. And it's a deadly game in which time works against most of the players.

 

Do you want to expand your CPA firm / accounting practice?

So, how do you counteract the better resources of bigger firms? And how do you compensate for the smaller accounting practices' expansion / client-acquisition projects in YOUR area?

My recommendation is to do so by using the SECOND alternative available to you, namely to offer MORE services and offer more VALUE.

By "more services" we mean "more closely adapted to those NEEDS
that clients can be made to realise."

And "more VALUE" is defined as "those services, support, backup, information, consulting and help which CLIENTS consider valuable."

Amazingly, what CLIENTS consider valuable is SO below of YOUR view of "value" that it can be difficult to grasp sometimes.

It follows the same scales as expertise in financial matters.

So you should not be surprised that YOUR expertise in financial planning, tax planning and accounts is up there in the stratosphere compared to what the average business owner understands about these things.

Thus, you can't just up and start offering what YOU think they
need. Or you can but you'll find it tough going, as you've doubtlessly experienced if you've tried it.

You'll need to find out what the majority of your target group wants, how they see accounting, find what they think they need and then start building an added-value service and the tools to communicate its value to businesses.

Alternately you could avoid re-inventing the wheel and secure yourself the basic added-value accounting service model AND its proven presentation tools.

This system has been exhaustively researched, tested and USED for years with hundreds practices so that it works in the hands of every single accounting professional.

Not a bad idea as such, don't you agree?

If the idea interests you, why not read more about the concept of Monthly Financial Consulting Service?

It might be just the thing you've been looking for to secure a healthy market share in your local area!

Keep up the great work,

Best wishes,

Harry Kafka
HDK Consultants U.S.A. Inc.
PMB 211, 411 Cleveland
Clearwater, FL 33755
Phone (727) 474 1206
Calls from outside USA: +1 727 474 1206
CONTACT FORM


Practice Management Articles

CPA Firm Recession Practice Management Strategies!MAKING A DIFFERENCE: How to utilize your true potential to expand practice beyond its natural, slow-paced growth?

Inside, you KNOW there should be more clients and more profits. You can FEEL that your potential is far greater than what you seem to be able to put out with... and you're RIGHT.

But are you looking the wrong way for a solution? What if it isn't YOUR capabilities stopping the expansion... but lack of step-by-step system which is based on PRACTICAL EXPERIENCE of successful colleagues?

At the end of the day, we all need the ROUTE to easier expansion, better profits and more appreciative clients before we can use our true power to travel toward the goal.

CLICK HERE to read how you can acquire the tested route to increase your clientele and profits without risks or discomfort...

Cost of Prospective
Accounting Clients
How much does one prospective Accountancy client or referral cost?

Is it impossible to find prospects for CPA services in a profitable or even affordable way?

If so, what causes the barriers? Is there no way you can find prospects and referrals at an affordable cost and adequate numbers?

CLICK HERE to read about smaller CPA and Accounting firms that have indeed found a way to find new prospective clients and referrals with ROI.

Pricing & Billing CPA Services at valueAre you selling CPA hours or values perceived and gained by the client?

Pricing your service at hourly rates - or at the value they represent to clients?

How can you CREATE that value in the minds of your current and future clients? Its not all that hard to create added-value Accounting services to achieve this.

CLICK HERE to see how some CPAs and Accountants have increased their profits while getting MORE year-round clients.

Year-Round Clients for your CPA Practice?

Divide your CPA Tax Season workload more evenly along the year - with more per-client revenue!If you don't actually LIKE the Tax Season frenzy, you might want to divide your work more evenly along the calendar year. Extensions is one way - but here's a new way that will also increase your per-client revenue and profit AND lessen the Tax Season workload.

CLICK HERE to read about this new way many CPAs are already using - you can implement it within DAYS...

CPA selling comfortably - you're joking, right?

Selling Accounting services is a paradoxal undertaking... Selling your own ability - yourself, in essence - is often not too pleasant. Using superlatives and sales antcis about oneself can get embarrassing for a CPA.

It's a paradox - if you tell the client how great you are, he might get turned off... but if you don't, he just won't know.

Selling should be easier... and above all, more comfortable!

CLICK HERE to see how other Accounting Professionals have solved this problem the simple and easy way.

Accountant beating top salesmen at their own game two to one?

Selling your CPA or Accounting Practice? Why not first increase the value of it...Not many accountants would instantly consider themselves top guns in sales. But that's only because they haven't discovered their true POWER using the accountant-tailored sales methods... which, amazingly, don't appear to sell at all but yet obtain a huge number of new clients!

Don't take my word for it...

CLICK HERE to read how you could oversell all but the absolute TOP sales experts by using an accountant- tailored new technique...

Advertising & Marketing of Accounting services — a Before you spend another cent in advertising Accounting Services - read this.waste of effort and money?

Well, admittedly it often is. Why is it so difficult to get RESULTS from advertising or marketing campaigns? What's the catch?

CLICK HERE before you invest another cent to advertising - this is something you need to know BEFORE you pay!

The leading Marketing & Sales System for Accounting Professionals

Modern Accountancy Marketing & Sales Course

Want to turn the trend on the economic downturn for your clients and your CPA / Accounting practice?

Then have a look at this:

Accounting Professional's Recession Survival Strategy Guide


Articles on Practice Management & Marketing

CPA MARKETING & PROSPECTING TIPS:

What makes finding prospects for accounting services so difficult
and how top CPAs have solved this?

Why offers of accounting services do not interest businesses and what you should offer instead?

The Four Decisions of Prospects: How you control decisions and handle the most usual objections in selling accounting services

How to get an unfair advantage over other practices when prospecting in your area?

How you can find a constant flow of qualified prospects without cold-calling?

Starter Product Strategy: How to quadruple the number of new prospective clients while actually making a PROFIT out of your marketing?

CPA SALES STRATEGIES & TECHNIQUES:

The two factors which make selling your own accounting services so difficult...and how to overcome these barriers

How an Accounting Professional can outsell all but the absolute top sales experts by a ratio of 2 to 1?

A discreet, effective way for a CPA to sell accounting services without ever having to become a salesman

How prospects form their opinion about your professional skills - learn how to instill a high image of yourself with every single prospective client!

Which are the effective elements in a CPA service presentation and sales system - which parts are essential if you want RESULTS with certainty?
CLICK HERE for CPA Marketingtips Newsletter back issues!

- MORE TIPS FOR PRACTISING ACCOUNTANTS -

TIPS ON PROFITS AND GOALS:

CPA ADVERTISING GUIDE:

The Profit Catch 22 of CPA firms and how you solve it & get BOTH time and money to spend?

Practice Management - The missing ingredient in making goals become actuality: What your CPA Practice could REALLY do for you?

Avoiding Accounting Service Advertizing Mistakes: What you should absolutely know before you pay another dime for advertizing?

Writing Killer Copy: Creating a high-interest CPA service advertising message that elicits response

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HDK Consultants USA Inc.
HDK Consultants U.S.A. Inc.
PMB 211
411 Cleveland
Clearwater
FL 33755
Phone (727) 474 1206
Calls from outside USA:
+1 727 474 1206
CONTACT FORM

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