Small Firms: Building Relationships in Your Backyard
One of the hardest things for a small accounting firm to do is to build its base revenue. Generating new clients can be extremely difficult and frustrating for small operations. If you are a small firm, how do you gain new prospects that lead to clients? It may be that you are missing out on one of the best areas for lead generation.
Stop for a minute and just think about how many businesses there are within your general area. Likely, a good majority are small businesses that do their own accounting or are not happy with their accounting services they are provided. How do you approach these businesses in a way that will lead to strong prospects and value-added relationships? Here are 4 easy steps that may help you grow your practice.
- Patronize the businesses in your area
- Be sincere and direct in asking about accounting services
- Offer a free service to help the business
- Ask for local referrals
A great way to get your foot in the door is to simply patronize a business. Start getting lunch at local restaurants, press your shirts at the dry cleaners, or buy a pair of shoes from the shoe shop. This starts the relationship, so be sure to try and meet the owner or manager so as to introduce yourself.
When you meet the owner or manager, it is not inappropriate to ask them the question… "Who does your accounting services?" Be sincere and direct when asking as they should respond in kind to your question. After they answer, you can tell them about your services or even ask them if there is an accounting problem that they have. It is amazing how many small businesses do their own accounting work and struggle to do it correctly or keep it up. By understanding issues up front, you are in a place to offer help.
If they are responding well to the questions, offer a free consultation or service. If you can help them straighten their books or help them with taxes by showing them a quick service, they will be more apt to do full business with you. Don't be afraid to give them a free hour of your time if it is going to lead to a long-term relationship.
Finally, ask for local referrals. Small businesses tend to have a community mentality and will refer a great service to others. If your work is top-notch, as I am sure it is, asking for referrals should be easy.
This approach may sound over-simplified, but consider the potential business within a mile of your office. Working with several local businesses will make you the go-to firm and will lead to a solid base of business. This will allow you to chase the bigger and more lucrative business.