Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
Gold Price Trend Forecast 2020 - Part1 - 21st Jan 20
How to Write a Good Finance College Essay  - 21st Jan 20
Risks to Global Economy is Balanced: Stock Market upside limited short term - 20th Jan 20
How Digital Technology is Changing the Sports Betting Industry - 20th Jan 20
Is CEOs Reputation Management Essential? All You Must Know - 20th Jan 20
APPLE (AAPL) AI Tech Stocks Investing 2020 - 20th Jan 20
FOMO or FOPA or Au? - 20th Jan 20
Stock Market SP500 Kitchin Cycle Review - 20th Jan 20
Why Intel i7-4790k Devils Canyon CPU is STILL GOOD in 2020! - 20th Jan 20
Stock Market Final Thrust Review - 19th Jan 20
Gold Trade Usage & Price Effect - 19th Jan 20
Stock Market Trend Forecast 2020 - Trend Analysis - Video - 19th Jan 20
Stock Trade-of-the-Week: Dorchester Minerals (DMLP) - 19th Jan 20
INTEL (INTC) Stock Investing in AI Machine Intelligence Mega-trend 2020 and Beyond - 18th Jan 20
Gold Stocks Wavering - 18th Jan 20
Best Amazon iPhone Case Fits 6s, 7, 8 by Toovren Review - 18th Jan 20
1. GOOGLE (Alphabet) - Primary AI Tech Stock For Investing 2020 - 17th Jan 20
ERY Energy Bear Continues Basing Setup – Breakout Expected Near January 24th - 17th Jan 20
What Expiring Stock and Commodity Market Bubbles Look Like - 17th Jan 20
Platinum Breaks $1000 On Big Rally - What's Next Forecast - 17th Jan 20
Precious Metals Set to Keep Powering Ahead - 17th Jan 20
Stock Market and the US Presidential Election Cycle  - 16th Jan 20
Shifting Undercurrents In The US Stock Market - 16th Jan 20
America 2020 – YEAR OF LIVING DANGEROUSLY (PART TWO) - 16th Jan 20
Yes, China Is a Currency Manipulator – And the U.S. Banking System Is a Metals Manipulator - 16th Jan 20
MICROSOFT Stock Investing in AI Machine Intelligence Mega-trend 2020 and Beyond - 15th Jan 20
Silver Traders Big Trend Analysis – Part II - 15th Jan 20
Silver Short-Term Pullback Before Acceleration Higher - 15th Jan 20
Gold Overall Outlook Is 'Strongly Bullish' - 15th Jan 20
AMD is Killing Intel - Best CPU's For 2020! Ryzen 3900x, 3950x, 3960x Budget, to High End Systems - 15th Jan 20
The Importance Of Keeping Invoices Up To Date - 15th Jan 20
Stock Market Elliott Wave Analysis 2020 - 14th Jan 20
Walmart Has Made a Genius Move to Beat Amazon - 14th Jan 20
Deep State 2020 – A Year Of Living Dangerously! - 14th Jan 20
The End of College Is Near - 14th Jan 20
AI Stocks Investing 2020 to Profit from the Machine Intelligence Mega-trend - Video - 14th Jan 20
Stock Market Final Thrust - 14th Jan 20
British Pound GBP Trend Forecast Review - 13th Jan 20
Trumpism Stock Market and the crisis in American social equality - 13th Jan 20
Silver Investors Big Trend Analysis for – Part I - 13th Jan 20
Craig Hemke Gold & Silver 2020 Prediction, Slams Biased Gold Naysayers - 13th Jan 20
AMAZON Stock Investing in AI Machine Intelligence Mega-trend 2020 and Beyond - 11th Jan 20
Gold Price Reacting to Global Flash Points - 11th Jan 20
Land Rover Discovery Sport 2020 - What You Need to Know Before Buying - 11th Jan 20
Gold Buying Precarious - 11th Jan 20
The Crazy Stock Market Train to Bull Eternity - 11th Jan 20

Market Oracle FREE Newsletter

Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

The Key to Running a Successful Accounting Firm

Personal_Finance / SME Nov 10, 2015 - 04:44 PM GMT

By: Submissions

Personal_Finance

Larissa James writes: When operating an accounting firm, it’s easy to get lost in routines and habits. And while it’s obviously important to focus on changing tax laws, evolving accounting procedures, and industry trends, you can’t forget about the basics. At the very heart of a firm’s success is that firm’s ability to connect with clients, engage them, and establish trust. If you’ve forgotten or overlooked this truth, you’re missing out on a major opportunity to grow your brand.


Building Trust One Client at a Time

Building trust requires a commitment to communication and transparency – two things that sometimes don’t come natural. The best advice you can receive is to be yourself. “Everybody on the planet has had unpleasant experiences with salespeople, and many have walked away from a sales situation feeling manipulated,” writes Geoffery James, Inc.com contributing editor. “So, rather than acting or sounding like a salesperson, simply act the way you would when meeting with a colleague.”

While sales speak may land you a client, it’s difficult to build a long term relationship with that client if you aren’t upfront, honest, and true to yourself. People often feel uncomfortable when meeting with accountants because accounting is such an unfamiliar topic. If you’re constantly trying to upsell, instead of telling them the honest truth, they’re going to feel this strain and reconsider their relationship with your firm.

Another key to building trust is to take a real interest in the person on the other side of the table. If you’re only answering questions and not asking questions, something’s wrong with your communication strategy. Take a page out of the book of successful project managers and be a “constant communicator.” These are people that ask questions, express curiosity, and invest in transparent channels of communication.

Don’t Rush the Process

The good news is that nine out of ten business decision makers view CPAs as valuable assets to their organizations – and more than half say they are “trusted advisors.” This shows that businesses know they need accountants, but doesn’t necessarily mean they’re quick to cozy up with you. One temptation you have to avoid when attempting to build trust is rushing the process.

Your first couple meetings with a client will determine a lot when it comes to the future of your business relationship. One strategy many CPAs firmly support is offering complimentary, no-obligation meetings with new clients. This shows that you’re willing to earn the trust of your clients without expecting them to fork over anything in return.

Teach Your Client’s Valuable Information

While conventional wisdom says that experts should keep their knowledge to themselves and leverage it as much as possible, the new way of thinking involves sharing thought leadership with clients. By imparting knowledge on your clients – and teaching them practical lessons that they can use on their own – you’re actually teaching them to come to you when they need help. They’ll realize that you have answers and are willing to help, which is different than keeping all of your knowledge and asking them to write a check before providing a solution.

One practical way to develop thought leadership is to invest in a blog or newsletter that you send to your clients. This allows you to choose topics that you know your clients are interested in and prove your expertise.

Focus on Trust
There are hundreds, if not thousands of keys to running a successful accounting firm. And while it’s difficult to single out one thing that’s more important than the rest, it’s pretty obvious that building trust with clients is paramount. If transparent, trusting relationships aren’t currently at the heart of your business goals, it may be time to realign your thinking.

By Larissa James

© 2015 Copyright Larissa James - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules