By Sally Glick - It is all about the economy - no surprise there. But when times are tough, how do small firms continue to grow and remain vital? The bigger firms may have deeper pockets, but they are usually not as nimble, not as responsive to clients and they have to work with the type of client that can afford their higher fees and support their larger infrastructure. As a result, they are leaving a lot of room in the business community for smaller, local and regional firms to step in. Clients are concerned, skittish, even scared. They are hoping for some hand-holding from their trusted advisors and the larger firms do not always have the time or resources to interact on an ongoing basis.
So - are you taking advantage of this opportunity to increase communication and reinforce your relationships with your existing clients? Are you helping to calm their fears, reviewing their financial situation and cash flow - helping them benchmark against their industry’s standards? Are you also networking more aggressively and meeting other small and mid-size business owners who may be feeling like their CPA has left them out in the cold?
If not, this is something you might consider. It takes time but little dollar outlay on your part!