1. Business Development Academy for CPAs
Workshop #3
November 17, 2016
Presented by Art Kuesel

2. Today’s Workshop Review & Share Experiences Cross-Serving
Asking for Referrals
Building a Strong Personal Brand
Networking
Building our Action Plan for the Next 30 Days 2

3. Review & Share Experiences

4. My CPA is
AMAZING!
Thrillers!

5. Cross-Selling Defined
It’s a good thing!
SERVING
Identifying opportunities to help your clients with additional consulting and services that will benefit them. In other words, being a proactive, trusted advisor. 27

6. YOU NEED TO ASK!!! Referral Statistics
According to the Hinge Marketing Institute __% of highly satisfied clients would be willing refer their current professional.
But, only __% had given a referral in the previous 12 months.
The reason why so few referred?
______________________________
YOU NEED
TO ASK!!!
Discuss top strategies in associations/events for about 10 minutes

7. Your Assignment: 1 Thriller/Week 1-2 Cross-Serve/Month
1-2 Referral Ask/Month 10

8. Developing a Strong Personal Brand How to create a powerful brand that drives clients to your doorstep

9. Consider Building your Personal Brand around a Niche or Service Line Specialty
Consider the Following:
Industry Lifecycle – Where are we?
Advisory services are growing – RAPIDLY
New clients expect demonstrated experience in their niche
Wedge services open doors more easily
Famous people can charge more!

10. Where are we as a profession?
Source: CFO Magazine
Source: CFO Magazine

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

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

14. New Clients Expect Demonstrated Experience in their Niche
Source: CFO Magazine
Source: CFO Magazine

15. Niche Services are often “Wedge” Services
A “Wedge” service is usually not a compliance service
A “Wedge” service often offers an effective value proposition
A “Wedge” service opens a door and starts a conversation with a buyer

16. Niche Services Open Doors with Prospects
QUIZ: Which service fares better in getting an appointment with a busy CFO:
“Timely” tax services
Fraud detection and prevention

17. Niche Services Open Doors with Prospects
QUIZ: Which service fares better in getting an appointment with a busy CFO:
“High-quality" audits
Cost segregation

18. Niche Services Open Doors with Prospects
QUIZ: Which service fares better in getting an appointment with a busy CFO:
Year end tax planning
Cyber security

19. The Higher the Value = The Higher the Fee
Average Salary GP: $275,000
Average Salary Orthopedic Surgeon $650,000
Billable Rate Accounting/Tax: $325
Billable Rate Litigation Support: $400

20. Personal Branding: Like Creating Fame

22. > 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.

23. 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

24. A) Consider several specialties and niches
Think about top growth opportunities for the firm
Explore several – shadow and gain experience (if it exists)
Do research if needed to learn more about it
Discuss top strategies in associations/events for about 10 minutes

25. B) Talk to your mentor about your intentions
If no mentor, find one!
Ask them about their experiences building their own brand
Consider opportunities and obstacles that may exist
Seek ongoing support and guidance
Discuss top strategies in associations/events for about 10 minutes

26. C) Identify firm clients
Identify clients within the firm you would like to work with
Seek out to get on these accounts
Learn more about the industry/service line
Ask the client for advice
Discuss top strategies in associations/events for about 10 minutes

27. D) Identify top associations and organizations
Consider audience quality
Frequency
Accessibility
Opportunity
Thought Leadership
GET INVOLVED!
Discuss top strategies in associations/events for about 10 minutes

28. E) Produce thought leadership
Begin to create a brand of expertise and knowledge
Seek to get published in trade media
Seek to align with others who are publishing
Consider LinkedIN, Blogging, Twitter and other Social Media
Share your TL with your target audiences!
Discuss top strategies in associations/events for about 10 minutes

29. Critical Success Factor: Critical Mass
Do you have a substantial population to serve?
~10+ Clients

30. Critical Success Factor: Market Demand
Growth/Decline
Stable/Unstable
Competition
Pockets of Underserved Opportunity?

31. Critical Success Factor: Viability
Profitable
80%+
Sustainable
Consistent?
Seasonal?
Long Term Potential
What if anything stands in the way of success long- term?

32. Critical Success Factor: A Dedicated Champion (YOU!)
Personally responsible for the success (or failure) of the niche
Focused marketing efforts w/Plan
Significant time commitment
Leads a team toward a goal (future)

33. Critical Success Factor: A Supportive Firm
Understanding that it takes time to build
Understanding that you’ll need help
Supportive of your personal and institutional marketing efforts (within reason!)
Willing to adjust other commitments as needed

35. ADD to your Plan Now: Quadrant 3
Do TWO personal brand building activities in the next 30 days:
Consider some options
Talk to a mentor
Get assigned to clients
Join an association
Produce thought leadership
What & When? 15

36. Networking Mastery: Starts with the Elevator Speech

37. Networking often starts with your “Elevator Speech”
Defined as: who you are, what you do, and for whom
You need to be able to relay your personal brand in 30 seconds or less (Quick like an elevator ride)
Drives the other party to action – such as to ask a follow up question 33

38. BENEFITS…NOT.. features
Example of features:
Audit, tax, operations consulting, business valuation, fraud detection
Benefits of these features:
_________ 34

39. 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 36

40. My Personal Elevator Speech?
Hi, I’m Art from Kuesel Consulting and I am a marketing consultant Or Hi I’m Art from Kuesel Consulting and I help CPA firm partners growth their practices and make more money Hi, I’m Art Kuesel. I run a boutique consultancy that delivers an average of 15:1 ROI on my services. 36

41. NOTE: Don’t limit yourself to JUST ONE elevator speech
Different environments may warrant different approaches and different speeches…
a client event
a referral event
a general business networking event
Be flexible, have a few different options for any given situation! 36

42. Develop your Elevator Speech Now
Develop an elevator speech right now!
Take 4-5 minutes to draft
Practice with a partner
Be ready to share

43. Networking Mastery: Six Steps to Success

44. 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 46

45. Step 1: Planning and Preparation
Identify where you would
like to network - create a target
list of people and/or organizations
Identify and bring a buddy
Walk in with a goal in mind (i.e., meet three people who could be good referral sources)
Bring your elevator speech(es) and business cards
Bring your nametag if applicable 47

46. Step 2: How to approach a “stranger”
Forget what mom told you!
Shadow an experienced networker and/or bring your buddy
Most people don’t enjoy networking – remember that you’re “in good company”
Don’t fear rejection – it rarely happens!
Approach confidently and introduce yourself 50

47. Step 3: Starting a Conversation
Most (and people in general) fear that they won’t have anything to say or will say something foolish… 52

48. >>> Step 3: Starting a Conversation
Think about This:
People like to talk about __________
People like people who are __________
Therefore _______ is KEY, _______ is NOT
If you can keep someone busy talking about themselves - you have created a favorable impression of yourself – you will have an opportunity to talk about yourself later! 53

49. >>> Step 3: Starting a Conversation
How and Where?
Strike up a conversation in the line at the bar/food
Join a table that already has people at it
Strike up a conversation with an exhibitor
Introduce yourself to someone standing alone or sitting alone at a table
While at the registration table, ask to be introduced to one of the hosts 54

50. >>> Step 3: Starting a Conversation
I love that suit! (compliment)
Do you come to this meeting often?
Do you know many people here?
Have you ever been to this venue?
Start with your elevator speech
What line of business are you in?
Talk about the weather…sports…traffic…
>>>Ask great questions and get them talking!<<< 55

51. Step 4: Finding Commonalities3

52. Step 5: Exiting a Conversation
Ask yourself:
Are they a good target for you (referral source, client, good person to know)?
YES/NO?
If YES: “It was great meeting you, do you have a card, it would be great to get in touch next week and see how we might be able to help each other in the future…” 57

53. >>> Step 5: Exiting a Conversation
If NO:
“It was a pleasure meeting you. Have a great evening.”
“It was great meeting you, do you have a card, it would be great to stay in touch.”
Nice to meet you - please excuse me - I need to use the restroom/make a call/take this call/etc.
Oh, excuse me, I see someone that I need to meet before they go – nice to meet you…
Forgive me, I have to get home to meet my family, take the dog out, etc.
Have you met XYZ? 58

54. Step 6: Follow-up
Are you going to let all that work you just did introducing yourself be wasted? Follow up in a few days with a call or and suggest a coffee, lunch, breakfast, cocktail or breakfast meeting… Then - at the meeting, ask to learn more about them, their clients and begin to discuss in greater detail how you might work together! 61

55. For every 50 people you network with…

56. Where do we seem to trip and fall?62

58. Book Recommendation

59. ADD to your Plan Now: Quadrant 3
Plan to network twice in the next 30 days:
Identify when/where
Identify your buddy
Set goals
Meet future clients and referral sources
Follow-up
What & When? 15

60. ADD to your Plan Now: Quadrant 1
Keep WARMING UP your client relationships…Can you do 2/month?
Thrillers
Breadth
Depth
Cross-Sell
Referral Asks
Who, What & When? 15

61. We must WORK our Plan to Succeed!
Call the BD Hotline if you get Stuck!

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

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

64. Thank you!
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