There are so many factors that clients have to consider when selecting their accountant. Some look at the potential for a meaningful relationship, others weigh the level of expertise in their industry, while some consider the strength of a personal referral, the convenient location of the office and still others look only at fees.
As you are positioning yourself in the marketplace, both to confirm your value with existing clients and to build awareness with prospective clients, it is important for you to decide where you can compete the most effectively.
Studies indicate that most business owners expect hand-holding and attention from their trusted advisor and they also seek out a CPA who understands their industry’s nuances. But no matter what they are looking for, it is important for you to understand your own USP or “unique selling proposition.” That is, what promise can you deliver on; what do you do very well? What attitudes, attributes, skills, or resources do you have that distinguish your firm?
You might have to do some soul-searching to come up with the answer to this question, but the effort will be worth it. You cannot compete at every level. Some firms will have lower fees, others will have a depth of industry experience. The key is for you to have a clear picture of your own firm’s value. You should go through an analysis, openly and honestly discussing your firm’s greatest strengths and then identifying ways to capitalize on these.