Build your own Rainmakers! Presented by: Art Kuesel HK Alliance Annual Roundtable #MSCPACPE

Art Kuesel, President Keynotes, Presentations, Workshops on Growth EXPERTISE (Cont.) Keynotes, Presentations, Workshops on Growth Growth Plan Development/Implementation Managing Partner Coaching Sales & Marketing Recruiting STREET CRED Top 100 Most Influential Person in Public Accounting: 2014 In-house and external experience Clients include scores of T250 Firms including a third of the T100 Frequent writer and blogger for Accounting Today Accomplished speaker and presenter on growth trends EXPERIENCE Sales Executive 3 years inside $60M CPA firm 5 years inside $25M CPA firm 6 years at PDI/Koltin Consulting 2.5 years at Kuesel Consulting EXPERTISE Sales Coaching Sales/Marketing Training

Discussion Outline Confirming the Need What’s a rainmaker? Skill Building Supporting your Rainmakers

Top Five AICPA/PCPS Issues 2015 Retaining Staff Finding Staff Partner Accountability and Unity Seasonality/Compression Succession Planning (tie) 5. Finding New Clients (tie) Source: AICPA/PCPS

6.3% Average Firm Growth 2014 This INCLUDES: Rate increases Cross-Selling New clients Mergers

Average Firm Growth 2014 Could 6.3% fulfill your succession plan? We need more R-A-I-N!

What’s a Rainmaker? #MSCPACPE

Partner Job Description 1898-2007 Technical Knowledge Client Service 2008-Present Technical Specialty Client Development PLUS Staff Development New Business Development

Types of Partners in 2015 Client Service/Technical Partner Manages book inherited or grown Client maintenance and development ($25-50k) No new business goal Small loss annually  Annual Goal $25-50k

Types of Partners in 2015 Mistmaker Manages book inherited or grown Client maintenance and development ($25-50k) New business ($25-50k) Minimal practice growth – may feed others Annual Goal $50-150k

Types of Partners in 2015 Rainmaker Manages book inherited or grown Client development and new business Feeds others Annual Goal $100-200k

Types of Partners in 2015 Business Developer Manages no book 100% Client development and new business development Feeds a lot of people Annual Goal $BIG

Types of Partners in 2014 Rainmaker Manages a book of business inherited/grown Responsible for client development and new business ($150-500k) Feeds others Annual Goal $150-150k #MSCPAMAP14

30% 60% 1% 9% Types of Partners in 2014 Rainmaker Manages a book of business inherited/grown Responsible for client development and new business ($150-500k) Feeds others Annual Goal $150-150k 1% 9% #MSCPAMAP14

New Business by Partner Type #MSCPACPE

New Business by Partner Type #MSCPAMAP14 #MSCPACPE

New Business by Partner Type #MSCPACPE

Necessary Skills in a Rainmaker #MSCPACPE

How do they DO IT???

Rainmaker Skills Quadrant 1: Client Development Quadrant 2: Referral Source Development Quadrant 3: Personal and Professional Brand Quadrant 4: Prospecting and Sales

Niche Practice Growth 80% + 60% + Source: Accounting Today

Building Rainmaker Skills – Like Building a House #MSCPACPE

#MSCPAMAP14

#MSCPAMAP14

Step 1: Plans, Goals, Expectations #MSCPACPE

Plans: Setting Goals & Expectations Future Partners: To be a partner in this firm, you need to be able to bring in new revenue in the form of cross-selling and new clients. Current Partners: To keep your compensation at the level to which you are accustomed we need you to “up your game” in new business development. #MSCPAMAP14

Plans: Setting Goals & Expectations What are reasonable goals and expectations for a future rainmaker? #MSCPAMAP14

Plans: Setting Goals & Expectations Future Partners: To be a partner in this firm, you need to be able to bring in new revenue in the form of cross-selling and new clients. Current Partners: To keep your compensation at the level to which you are accustomed we need you to “up your game” in new business development.

Step 2: A Foundation of Client Development #MSCPACPE

Foundation: Client Development x #MSCPAMAP14

Foundation: Client Development Need to be Given the opportunity with existing clients Requires Relationship Development Make Clients into Friends Need to Understand the Building Blocks of Trust Need to Know Firm Services

Foundation: Client Development Need to be Proactive with Ideas Need to Believe that selling is helping Need to be Comfortable asking for Referrals Have Confidence in knowledge and expertise

Step 3: Frame it up with Referral Sources #MSCPACPE

Frame: Referral Sources #MSCPAMAP14

Frame: Referral Sources Need a Diverse Population of Referral Sources Need a Network Capable of Providing 12+ Referrals/year Need to spend time maintaining and developing these referral sources Need to begin to reciprocate

Step 4: Internal Build out with Personal and Professional Development #MSCPACPE

Internal Build-out: Personal/Professional Development #MSCPAMAP14

Internal Build out: Trade/Business Group Involvement Membership in 2-3 Active & High-Quality Groups Active Participation in Meetings Involvement in Committees, on the Board, etc. Wherever the Influential People hang out!

Step 5: Creating Curb Appeal – Understanding what Sells! #MSCPACPE

Landscaping & Creating Curb Appeal

Landscaping & Creating Curb Appeal Clear understanding of the Sales Process Know all firm services Understand and recognize clues and triggers Effective discovery process Winning value propositions Effective Proposal/Orals Do-Loop to Win

Step 6: Ready for the MLS – Who’s my buyer? #MSCPACPE

Ready for the MLS: Who’s the Target Buyer? #MSCPAMAP14

Ready for the MLS: Who’s the Target Buyer? Does this potential rainmaker have a specialty/niche focus? WHY is this so important?

Ready for the MLS: Who’s the Target Buyer? Think about this: Firms are growing their niche practices much faster than their compliance practices Wedge services open doors where compliance services do not A specialist beats a generalist in value every day of the week A specialist can create fame Famous people can charge more!

Nurturing these skills to grow your rainmaker #MSCPACPE

How do you Nurture Skills Development in your Rainmakers? Patience Goal Setting Motivation, Rewards & Encouragement Skills Training Personalized Coaching to Overcome Obstacles Opportunities for Practice Repetition, Repetition, Repetition Measurement and Accountability

Tax Partner Joe 120 Person Firm, Midwest 2008 $750K 2015 $1.3M Realization: 89+% Hours Worked: Same Average Client Size: Up $10K

Tax Senior Manager Kristi 75 Person Firm, Northeast @ 7/2014 $0 New Business Closed @ 7/2015 $35,000 New Business Closed Hours worked: Same Revenue Source: Current Client Referrals and one Top Referral Source

Summary

THANK YOU! Art Kuesel, President Kuesel Consulting, Inc. 312.208.8774 art@kueselconsulting.com www.kueselconsulting.com