Articles by Rainmaker Consulting Group

Practice Management

The necessary act of recovery

Five Star Client Service is a client service methodology. Recovery is the final component in the Five Star process, following: connecting, taking the order, delivering the order, ascertaining satisfaction, and offering dessert.
Practice Management

Survey says... Using survey results to improve your business

Can you name the top two key factors to an accounting firm's success? If you said Employee Satisfaction and Client Satisfaction, then you are exactly right.
Practice Management

Leverage up the value ladder

By Troy Waugh
Practice Management

Have you assessed your firm lately?

By Troy WaughPeriodically, the partners of all firms should pause and assess the strategic direction of the firm. Strategy and tactics are easily confused and I've worked with many firms that hold a Strategic Advance only to get bogged down in tactical detail. So what's the difference? Strategy deals with direction. It deals with what we are about. It deals with what will we look like in three or five years? Tactics are those necessary action steps we must take every day, week or month that will get us to that future state.
Practice

Better service with better people

By Troy WaughService is about adding great people to implement ideas. We experience service at three levels.Unfortunately, the most common level of service is indifferent service. Service providers not looking at you, not listening to you, and not caring about you exemplify indifference. In the U.S., this level of service is too often the norm. The lowest form of service is actual rudeness.At the peak level of service, a client feels welcome. What can you do to improve the level of service in your firm?Here are a few tips: 
Community News

Good Questions Uncover Client Related Problems

In his book SPIN Selling, Neil Rackham discovered that sellers are fearful of asking problem questions while buyers welcome them. Buyers report that professionals, who ask problem questions seem to understand the business, seem to talk about valuable things and are more interesting.
Community News

Five Ways to Build Your Business

by: Troy Waugh Is this going to be your year for turning the power of marketing and sales on in your business? If your answer is yes, here are five keys to success: Focus on client's profits, not your own. There is a limited demand for tax return preparation services and audits, but there is unlimited demand for accountants and consultants who can help clients improve net profits! If youare still focusing on increasing your billable hours, billing rates or net fees, it's time to reorient your thinking. 
Community News

Client Centered Referrals

By Troy WaughAs I discuss in my book, whenever you have a client in common with another service provider, it’s logical to get acquainted with that person so you can coordinate in serving the client. Get to know your best clients’ other professional service providers. We find lawyers, bankers, bonding agents, and insurance brokers among the best. They are open to you and will readily meet with you because of your joint client.
Education & Careers

Selling on the Inside: Attitude and Aptitude

By, Troy WaughBecoming an insider and selling to owners, board members and top management takes a unique combination of both attitude and aptitude. An attitude that you, as a businessperson, have the expertise and stature to converse with these top officers is crucial. But attitude is not enough. With a proper sense of self-worth you can start the conversation, but it takes real know-how to hold the attention of top officers.Attitude
Practice Management

Leverage Up The Value Ladder

By, Troy A. Waugh, CPA MBA
Community News

Four Reasons Clients Complain

Submitted by Troy WaughThrough the years of consulting with accounting firms and helping them deal with client complaints, I have discovered there are four reasons behind these complaints.Employees lack a "Can-do" attitude
Practice Management

Come Together Cooperatively to Serve Your Clients

Co-opetition: Compete and Cooperate MarketingWhen you combine the words cooperation and competition, a new word emerges: Coopetition. Coopetition works when competing organizations come together cooperatively to serve a client.
Practice Management

Rate Your Prospects

By Troy Waugh, Waugh & CO, Inc.With a powerful and focused marketing and sales program that generates many leads, the partners find themselves meeting with prospects regularly. The partners’ focus at the initial meetings with a prospect is to understand the prospect’s business and the issues of the company. For example, if the business is not related to a niche in which the firm has expertise, a red flag goes up. If the business is calendar year or price driven, the partners begin to question their capacity to handle the client.

Branding Unsuccessful if Not Backed by Quality

By, Troy A. Waugh, CPA, MBA, Waugh & CO, Inc.  Many accounting firm owners and marketing professionals have been deliberating the concept of branding during recent months. Most branding efforts end with wasted dollars and little results. One managing partner said he’d “thrown $100,000 down the rat hole.”
A&A

Financial Services - Avoiding the Ten Traps

Mr. Troy Waugh, CPA, MBA provided this Marketing Moment! A few years ago, one of my clients decided to get into the lucrative business of financial services. After all, financial services companies have been competing with CPAs in the accounting and tax business for years. Partners selected one owner to become the financial services “guru” for the firm. He spent years getting licensed, obtaining a CFP designation and lining up money managers and product sources.

Power Up Your Profits

In his book, Power Up Your Profits, Troy Waugh accurately expresses that, "People buy for their reasons not yours." So the question is: What do they care enough about to fund action on today? Think about how executives prioritize.