Yes, I know how busy your practice can get during these months, especially if you’ve been out of it for a few years. I know the natural inclination is to say, "I'll wait till tax season ends" so I can work on this list.
I want you to get that thought out of your head.
I got myself out of a rut nine years back because I got that thought out of my own head. I started taking steady incremental steps during tax season. By the time tax season was over, I was now ready to accelerate my marketing efforts while most practitioners were looking to start theirs.
1. Spend at least 4 hours every week on new client generation.
When to do this: It could be done as one or two "4 hour blocks" of time. Block that time off on your schedule, inform you staff about this that they should not interrupt you (unless there is a physical fire or something big like that....seriously!) and shut your door.
This could take the form of being engaged in one or several of these activities:
Attending a networking meeting. LeTip, BNI, etc., are located throughout and you can be a part of chambers of commerce.
Working on marketing to a new niche or creating a new marketing funnel to go deeper in the niche/s you currently serve.
Revamping or rehauling your website.
Writing weekly emails to send to clients and prospects
Putting a touch plan together for your best clients. It's the old 20/80 rule. In most firms, as much as 80 percent of the revenues are generated by 20 percent of the clients.
2. Spend at least 4 hours every week on improving the way you currently do things in your practice.
When to do this: Spend 45-60 minutes every day on these activities.
This could take the form of:
Mentoring your staff and helping them be more productive. It is also a good opportunity to identify better processes and procedures for faster completion of work.
Making sure your staff are communicating well with clients and prospects. Providing top notch services is the common thread of successful practices.
Promoting your Refer-a-Friend Program. One of the best ways for growth of a CPA firm is through referrals.
Cross sell your other services. Do you offer financial planning services or year round accounting services. If so, make sure you have processes in place to make your clients aware of these services.
Obtain testimonials from clients. Most practitioners lack in this area. Tax season is a good time to be asking for testimonials from your existing clients and getting their permission to use them in your marketing materials.
Undoubtedly, tax season presents you with unique challenges. It's time to make money and so there is the tendency to put your head down and crank away at it doing the accounting and tax work. But smart practitioners see it as an opportune time to bring in new clients because most people, your prospects and potential clients are thinking about money, finances and taxes.
Salim Omar is the author of The Million Dollar CPA Firm. He is also a successful business owner of Straight Talk CPAs, an accounting firm, and President of CPA Marketing Genius. He has a passion for helping CPAs engage in personal growth and professional development. While he is...