Business Development Academy for CPAs Workshop #4 December 8, 2016 Presented by Art Kuesel

Today’s Workshop Review & Share Experiences Building a Strong Personal Brand Networking Referral Source Mastery Building our Action Plan for the Next 30 Days 2

Review & Share Experiences

Specialization is our Future Source: CFO Magazine Source: CFO Magazine

Niche Practice Growth 80% + 60% + Advisory Growth = Opportunity Source: Accounting Today Source: Accounting Today

Personal Branding: Like Creating Fame

Niche Services are Wedge Services QUIZ: Which service fares better in getting an appointment with a busy CFO: “Timely” tax services Fraud detection and prevention

Q2: Referral Source Development What’s in Quadrant 3? Q3: Personal Brand Building Consider a variety of specialties and niches Talk to your mentor about your intentions Identify clients in your firm you can be assigned to within your area Identify top associations and organizations within these specialties and niches Produce Thought Leadership Discuss top strategies in associations/events for about 10 minutes Q1: Client Development Q2: Referral Source Development Q3: Personal Brand Building Q4: Prospect Development

Sample Elevator Speeches Hi, I’m Art from ABC Firm, and I am an auditor. or Hi, I’m Art from ABC Firm and I help business owners gain access to expansion capital Hi, I’m Art from ABC Firm and I help business owners protect their businesses from fraud. Hi, I’m Art from ABC Firm and I consider myself a financial firefighter 9

Networking Mastery – Six Steps Step 1: Planning and Preparation Step 2: Knowing How to Approach a Stranger Step 3: Starting a Conversation Step 4: Maintaining a Conversation Step 5: Exiting a Conversation Step 6: Follow-up 10

Step 4: Finding Commonalities 11

Your Assignment was: Thriller/Breadth/Depth/Cross-Serve/Referral Ask 2x Personal Brand Building 2x Network 2x 13

Success Stories! 2 Thriller/Month 2 Personal Brand Building/Month 2 Networking/Month 14

Referral Source Mastery How to create a network that provides a lifetime of leads

“A New Way of Thinking about Referrals” A recent article written by Lee Fredericksen, Hinge Marketing What do you think about his findings? Where do you agree? Where do you disagree? Discuss top strategies in associations/events for about 10 minutes

> Your Four Quadrants for Personal BD Success Q1: Client Development Q2: Referral Source Development Q3: Personal Brand Building Q4: Prospect Development This is the basic framework for an IMP. Your plan template goes deeper and has sub categories of these four quadrants. Let’s discuss each of these quadrants and think about how we can implement activities in each area of development.

Q2: Referral Source Development What’s in Quadrant 2? Q3: Referral Source Network What do they look like? Who’s in your network? How many are there? Where do you find the best ones? How do you make them “produce?” Discuss top strategies in associations/events for about 10 minutes Q1: Client Development Q2: Referral Source Development Q3: Personal Brand Building Q4: Prospect Development

Quadrant #2 = Referral Sources Bankers Attorneys (wide variety here) Consultants/ Advisors Insurance agents Contract controllers/CFOs Board members Bonding agents Financial advisors Trust officers/Fiduciaries TPAs Relatives/Friends/Alumni Other accountants!

Definition: Referral Source Network A population of people who can refer you the type of clients that you desire. PLUS: A population of people who can leverage their existing relationships to open doors for you. PLUS: A population of people who have access to information that would be personally valuable to you in your marketing and business development pursuits. YOUR REFERRAL SOURCE NETWORK IS BIGGER THAN YOU THOUGHT

Categories of Referral Sources “A” Referral Sources 1-2 Referrals/Year (or more) Consistent quantity annually “A” referral sources give “A” referrals In your “sweet spot” Not competitive situations 75%+ chance you’ll get the work Requires 4x Touches/year Minimum

Categories of Referral Sources “B” Referral Sources 0-1 Good Referrals/Year Inconsistent quantity or quality “B” referral sources give “B” referrals Not always in your sweet spot Might be competitive “I gave your name with others” 33-50% chance you’ll get the work 2x Touches/year -OR- 4x Touches/year

Categories of Referral Sources “C” Referral Sources Infrequent referrals Poor quality referrals Fake referrals Highly competitive Not in your sweet spot 1x or 0x Touches/year

Where to Find Good Referral Sources? #1 Source Client Relationships! #2 Source Introductions through any current referral source or contact #3 Source Knowledge-based inquiries #99 Best Source Targeted networking

Maximize your Client COI Your Clients COI Includes: Bankers Attorneys Consultants/ Advisors Insurance agents Brokers/Traders Relatives/Friends/Alumni Board members Bonding agents Financial advisors Trust officers/Fiduciaries TPAs Who else?

REMEMBER! A critical component to your success (to get more referral sources and more referrals) will be your ability to clearly define what kind of clients you are looking for.

Define your IDEAL referral Criteria include: Size Industry Type (LLP/LLC/S-Corp) HNW Individuals Estate/Trust, Family owned, Specific geographic location And more Who has a clear and concise definition of the type of referrals they seek and would be willing to share?

Worksheet: Define your Ideal Referral Now define your ideal referral. 28

Table Discussion: How do I ask for introductions to my client’s COI?

2nd Best Source of new Referral Sources Introductions through your existing contacts: Any current referral source Leaders at your firm A mentor LinkedIn Connections A successful friend

How do I ask for introductions via my existing contacts?

3nd Best Source of new Referral Sources Knowledge based inquiries come from your personal brand: Concentrated Knowledge & Expertise Client Concentration Speaking Writing Social Media SEO/SEM Website

99th Best Source of new Referral Sources Targeted networking (I’m a bit tough on networking) I’d love for you to work the other angles we discussed today before you rely on networking For most of us, networking is a high anxiety and time intensive exercise HOWEVER, with an effective approach like we discussed last month this can help you build referral sources

Quantity Needed to be Successful? Most partners I work with have ___ (or fewer) A and B referral sources A good number to aspire to is ___ active A or B referral sources Rainmaking territory is ____ active referral sources

Making your Network Produce Visible Expertise Strong Relationships Professional/Expertise Personal/Social 3. Reciprocity 4. Frequency 5. Effective Personal Marketing Approach 6. Impressive Online Presence

ADD to your Plan Now: Quadrant 1 COI Asks to find referrals: Can you do 1/month? Thrillers Breadth Depth Cross-Sell Referral Asks COI Introduction Asks! Who, What & When? 37

ADD to your Plan Now: Quadrant 2 Review your “advanced preparation worksheet.” Are you out of touch with any existing referral sources? Plan to reconnect with 2/month AND Consider your existing network – who can make introductions for you? Plan to ask one person/month Who & When? 38

ADD to your Plan Now: Quadrant 3 Do ONE MORE personal brand building activity in the next 30 days: Consider some options Talk to a mentor Get assigned to clients Join an association Produce thought leadership What & When? 39

ADD to your Plan Now: Quadrant 3 Plan to network ONCE MORE in the next 30 days: Identify when/where Identify your buddy Set goals Meet future clients and referral sources Follow-up What & When? 40

We must WORK our Plans to Succeed! Call the BD Hotline if you get Stuck! 312.208.8774

Resources www.kueselconsulting.com/BDAcademy Slides Tools Templates Subscribe to my monthly blog too!

Reminder Our Next Meeting: December January 12th 8:30 – 11:30am Ravinia Green Country Club 1200 Saunders Road Riverwoods, IL 60015

Thank you! For tools, resources, and a monthly blog subscription on marketing, sales, and growth topics go here: www.kueselconsulting.com Or contact Art: art@kueselconsulting.com 312.208.8774