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Archive for the ‘accountant referral’ Category

The Goose with the Golden Eggs or The Superfluous Accountant Referral

Friday, May 29th, 2009

We proudly present Fable Fridays. This weekly installment will draw parallels between referral networking and some of society’s most cherished moral tales: Aesop’s Fables.

You could go to expensive seminars and buy up every book on referral marketing, but it doesn’t take a marketing genius to realize that Aesop got it right nearly 3,000 years ago.

See more Fable Fridays

The Goose with the Golden Eggs

One day a countryman going to the nest of his goose found there an egg all yellow and glittering. When he took it up it was as heavy as lead and he was going to throw it away, because he thought a trick had been played on him. But he took it home on second thoughts, and soon found that it was an egg of pure gold.

Every morning the same thing occurred, and he grew rich by selling his eggs. As he grew rich he grew greedy; and thinking to get at once all the gold the goose could give, he killed it and opened it only to find nothing.

“Greed often overreaches itself.”

The Superfluous Accountant Referral

One day a fledgling accountant was contacted by an overburdened bookkeeper. The bookkeeper said, “I saw your profile in the small business directory and was impressed with your rating. Due to a new venture I’ve been pursuing, I’ve been unable to find the time to follow-up with every lead I receive. I’d like to refer a few  clients who could use your services in the hopes that you will reciprocate someday.”

Seeing this as an opportunity to boost lead generation, the young  accountant eagerly agreed.

The accountant received an occasional referral from the bookkeeper; this supplemented his current clientele. The accountant thought to himself, “How can a bookkeeper with such little time have such a surplus of referrals? Perhaps I can circumvent this bookkeeper and go straight to the referral source!”

After browsing LinkedIn, the accountant realized that the bookkeeper was receiving referrals from a close colleague at a larger firm. When the firm met with potential prospects who were too small to use their services, they would refer the prospect to the bookkeeper.

The accountant contacted the bookkeeper’s colleague without the bookkeeper knowing. He never heard from either of them again.

“Overreaching referrals seldom make freinds”

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Posted in Fable Fridays, accountant referral, referral marketing, referral marketing strategy | 3 Comments »

Find Accountants through Family, Friends and Colleagues

Monday, March 16th, 2009

Tax season is in full swing and that means referrals are more important than ever. 

There have been many changes in the tax legislation this year and the topsy-turvy economy means that the difference between finding an accountant, and finding the “right” accountant, is that much more important. Find accountants that others refer to you.

Most state agencies and watch-groups agree that having friends, family, or a colleague refer you to the right accountant is the way to go. The consequence for haphazardly hiring an accountant can range from mediocre service to malpractice.

“Get referrals from your financial institution, attorney, family or friends.”
Nashville Business Journal

If you’re a small business owner tax season means you have a few weeks left to send some business referrals to your trusted accountant. You can be certain that your accountant will have plenty of time to think about returning the favor; after April

And if you’re seeking your own personal accountant, then be smart about where you look. Avoid decisions based on advertisements. Literally, anyone can print up an ad but not just anyone can build an enduring reputation for quality work.

“Initially family, friends and associates can be a reliable source…”
Eric Taylor, Helium

If you don’t know any good accountants, you may want to check a business directory. Look for peer and client reviews. Avoid “pay to list” directories as any accountant with a few dollars can pay to be on a list, thus it is an advertisement and not a referral.

It’s your money, be smart about it.

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Posted in Accountant directory, Business Directory, accountant Referrals, accountant referral, referral marketing | 2 Comments »

40 Year Accounting Veteran Dave O’brien Takes a Quick Break to Talk Referrals

Thursday, March 5th, 2009

Dave O’brien has been an accountant for over 40 years. In that time,  he’s worked with many top firms including KPMG Peat Marwick (Now KPMG) in Boston and Isner & Lubner in New York City. Currently, Dave specializes in taxes. Given his expertise, as well as a very important tax season, he  finds no shortage of freelance work.

Throughout your forty year career as an accountant, what strategy has helped you generate new business?

Word of mouth… all referral based. The accounting business was strictly referral business.

Where did you meet your connections and referral partners?

I tried several networking groups over the years. At one point, we even started our own meet up group. We had an insurance guy, an attorney and so forth. It was a great idea but eventually the group broke down due to our busy schedules. It was very difficult to get everyone at the meetings.

I wish I had a tool like Referral Key thirty years ago.

How have you helped build your reputation over the years?

Its about recognizing your strengths and referring clients to the right people whenever possible. I worked with a lot of new businesses and clients looking to incorporate. I would send them to the right people because I knew that my reputation and the possibility for a long term relationship, were contingent on my associate’s ability to provide the clients I was referring to them, with the best possible service.

I would refer them to lawyers that could best serve the clients and their needs, not the lawyer. When I first started, there were a lot of lawyers that would help you incorporate but only authorize a limited amount of shares in small increments. This would allow them to accrue more fees over time because inevitably, the business owner would be interested in acquiring more shares.

I would also send the same clients to banks that were receptive to their needs, not a bank that would be unresponsive when the client needed a new loan a few months down line.

Can you think of any bad referrals that stand out?

Ha ha ha… yes, the client didn’t pay.

What is the most important advice you could give an accountant who’s just starting out?

Get out there and build strong relationships. That’s the key. Also, to avoid situation where client’s don’t pay you for your services, you should check with their previous accountant to ensure you’re dealing with the right people.

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Posted in Dave O'brien, Guest Authors, Small Business Radio Interview, accountant Referrals, accountant referral, expert referral marketing advice, referral marketing | 1 Comment »

Count on an Accountant’s Directory

Tuesday, January 20th, 2009

Tax season is upon us and most Americans are trying to avoid procrastinating this year. At this moment, there are thousands of potential clients seeking qualified accountants for this year’s tax season. Where do these potential clients find their accountants? How do you get in front of them?

How about print ads?

Traditional forms of advertising may occasionally be an option but remember, the results are unpredictable. This economy doesn’t lend itself to costly advertising campaigns; besides, most of your clients are online anyways.

What about search engines?

Gone are the days of “build a website and they will come”. Even a larger firm is likely to be competing with every other entity that uses “accounting” in their name or description, this will likely place your firm hundreds, if not thousands of places down in the Google search results. Considering most people never even see page two of the results, small to medium sized firms aren’t likely to generate much, if any of their new business directly from a search engine placement.

The Solution:

A directory of qualified professionals is exactly where many people will begin their search. This is great news for your firm because unlike search engine results or paid advertising, a small business directory is unbiased to the size of your wallet or even the size of your firm. The key to attracting clients in a directory lies in describing your business in a way that fits the needs of the clients who are browsing the directory.

Remember, not all directories are created equal. If the directory you are considering posting to is full of advertisements and doesn’t look very organized, it’s likely that potential clients will be thinking the same thing. Some directories ask you to pay in order to list your business. You may want to be skeptical of this transaction, as anyone can create a website and charge a fee to be listed on that site. The directory should look professional and have traffic. Of course, we’d suggest the Referral Key directory. Not only is it free but there are plenty of ways you can differentiate yourself from your competition right in your listing; your old referral software can’t say the same.

Watch this tutorial to learn how to fully take advantage of the Referral Key Business Directory:

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Posted in accountant Referrals, accountant referral, accountants directory, referral marketing | No Comments »

CPA Referrals are the Holy Grail of Referral Networking

Saturday, January 3rd, 2009

Every industry has its particular intangible offering when it comes to connecting with a client. A real estate agent isn’t just selling a house; they are helping a family own the home they’ve always wanted. A graphic designer isn’t just creating a picture, they’re helping develop an image for their client. A CPA is entrusted with his or her client’s assets and that makes them number one when it comes to trust. If you’re a CPA this means you’re a very attractive referral partner.

According to All Business, “A survey of 614 family business owners conducted for the Massachusetts Mutual Life Insurance Co. found CPAs were the most trusted advisers outside their family circles. Of the small business owners polled, 31% considered their accountants to be their most important outside business advisers, well above attorneys (9%), bankers (4%) and company managers (4%).”

Because of a CPA’s close relationship with his or her clients; CPA referrals are that much more likely to lead to a sale. It is a very good idea to invite a CPA to join your referral network. If you don’t happen to know a CPA you’d like to invite, you may want to start by reaching out to a qualified CPA in our small business directory.

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Posted in accountant Referrals, accountant referral, referral marketing | No Comments »