Strategies to Grow Your Dream Accounting Firm FAST
Let’s discuss how you can make more money in less time. This may sound sleazy, but think of it the same way you’d think about why someone rallies for a promotion… They want to get paid their worth and for all the work they contribute. Here are some strategies to get dream clients and grow your accounting firm fast.
If you’re really eager to grow your firm, you must first be willing to make investments. The investments we’re talking about come in to two forms: time and money. Time is your most precious resource, and money is your second most valuable.
Imagine making more money by working the same or, even fewer hours. Attracting and winning the business of your dream clients comes down to a singular word- relevancy. Let’s dive in to learn how you can achieve better results with less time and money involved.
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The Four M’s to Grow Your Accounting Firm Fast
If the solutions you provide are more relevant to your clients and their situations, the odds that they will want to work with you increase. Any time you or someone else says yes to a proposal of any type, there are four M’s that are always in play.
The four M’s are Market, Message, Moment, and Money.
Understanding and analyzing these four M’s is the key to maintaining a high degree of relevancy. If you incorporate these into your firm’s strategy you will be able to efficiently attract and win your dream clients and grow your accounting firm in no time.
Market
To set your accounting firm up for success, you should know who your market is. If Keep in mind that something like “business owners” shouldn’t count as your market. That is simply a position. To find your niche, dig a little further. Think along the lines of a more specific niche, such as the accounting, bookkeeping, and tax space.
While generalists can accommodate various clients from different industries, they also have to spend a lot of time and money to deliver their accounting services decently. As a general rule of thumb, if you aren’t a mega-company, it’s best for you to niche up and be a specialist.
Specialists can efficiently invest their resources to establish themselves as the go-to product or service provider for a specific market. It’s much easier for them to concentrate marketing efforts, improve solutions to specific problems, and justify the value of their services with their expertise. “The riches are in the niches.” If you know where your target audience spends most of their time online, what they care about, or what their pain points are, you can be hyper-efficient in making your services more relevant to them.
Message
For many accounting firms, their message is the most criminally neglected part of their marketing plan… Most entrepreneurial accountants tend to settle with generic, non-targeted messaging, like “save time” or “save money on taxes,” for the services that they offer.
While these are indeed incredibly valuable benefits, your prospective clients might doubt your credibility as a specialist for their business. To make sure that your messaging directly speaks to them, you should use terminology exclusive to their industry as much as possible.
If you can speak their language, you can increase the odds that they will want to create a lasting relationship with your accounting firm. This can also improve your reputation in the industry by making it more likely for your current dream clients to refer you to others.
Moment
Let’s say you already know your niche market and your messaging is as well-thought out as you can make it. Your accounting firm is getting some opportunities but not generating a lot of leads. If you’re confused about why this might be the case, chances are that you’re not catching them at the right moment.
Even if you are dialed into your market or your message right, likely 99% of the people listening are not ready yet. This is usually the case, and the toughest of the four M’s to overcome. What you should focus on instead is getting through to the 1% who can say yes.
“How do you know the right moment comes along?”
You will know when the moment is right, if you have concrete systems in place. Systems are the only way to make sure that you are omnipresent whenever the right moment strikes. If you want to know more about systems, you can learn about them in our highly valuable Create Your Dream Firm program.
Money
If you successfully nail the first three M’s, you will make money. To get dream clients, you also have to be well-prepared for sales presentations, pricing negotiations, and building good customer relationships to convince them that you’re the best accounting firm in the industry.
One more thing to keep in mind is that not everyone who comes to your firm needs to be a multi-thousand-dollar-per-month client. You can have excellent profit margins, even if not all of your clients have six-figure revenues at the moment. Allow them to gradually grow with you over time, and reap the benefits of trusting promising businesses.
Now that you know some of the best strategies to grow your accounting firm fast, you may want to check out our article on how to choose a niche market for your accounting firm.
What Should I Do Now?
Let the four M’s be your guiding light whenever you have to say yes to anything. Identify and understand your niche market, use the language of your target clients in your messaging, and know when to strike at the right moment to generate money that can help your accounting firm grow fast.
Dream Firms can offer you the expertise, wisdom, and experience to nail the four M’s to get dream clients and grow your accounting firm fast. Learn how to build systems, select your niche, price your services, and more from us. We also have a seven-day money-back guarantee!
