A road map for developing new clients.

The CPA's mantra: How can I be of service to this client?

For any practice to survive and prosper, it is imperative that the professionals bring in new business. Often, CPAs who are assigned the responsibility to head up new business development believe that selling services involves handing out their business cards to everyone they meet. In fact, to develop new business, a CPA needs to follow a concrete plan of action. This plan includes taking steps to ensure that he or she works with the person in the client company who has the authority and means to contract for services, learning the client company's business needs and, finally, securing the engagement. When followed in the proper sequence, these steps will establish the foundation for a long-term, satisfying business relationship.

Success hinges largely on approach-the CPA is not so much selling per se as he or she is satisfying the customer's needs. The CPA's mantra should always be: How can I be of service to this client? There is no single perfect "script" to use when talking to a potential client; however, the following approach will help lead CPAs naturally to a discussion of a potential client's needs.

THE ROAD MAP

You have a lead. Equipped with your new mantra, what should you do?

1. Dictate a letter of introduction to go out with the firm's brochure?

2. Head for the firm's library to research the company?

3. Reach for the telephone to call the company in question?

The answer is 3. The number-one goal in the selling process is to talk with and, more important, listen to the potential client. The best way to do this is to pick up the telephone and make the call. Here's what you should do after you pick up the phone:

Ask for an appointment. Call the company headquarters and ask for the name of the chief financial officer or controller (depending on the size of the organization); ask to be connected to his or her office. State the purpose of your call pleasantly, simply and clearly. The point of this initial call is to create interest and to get an appointment. Do not engage in a lengthy, detailed conversation. Leave that for the meeting. In the process, determine if the chief financial officer or controller will be your likely contact. Also ask if any other company personnel will be involved in the discussions.

Prepare for the appointment. Develop a thumbnail sketch of the company, including its business, its industry, its size and the names of key officers. Prepare a fact sheet about your own firm--the year it was founded, size (revenues and employee population), areas of expertise-- and include your own credentials. Concentrate on the particular areas you think will pique the potential client's interest.

Manage the appointment. Set the stage by asking the contact to describe the company, and follow up by outlining your firm's capabilities. Make specific reference to some of the information this person brought up during the initial telephone conversation. Direct the discussion back to the customer by asking questions that will elicit more details about the company's business needs, such as the complexity of its operations, deadlines and what it stands to lose if its needs are not met. When you are satisfied that your firm can be of service to the company, suggest a second meeting.

Follow up. The first meeting helped uncover the potential client's needs and introduced your firm. During the second meeting, you can engage in a more detailed discussion of how your firm would approach a specific assignment. The ideal result of the second meeting would be an invitation to develop a proposal for your firm to undertake the assignment. All your follow-up efforts (telephone calls and correspondence) should bear this sequence in mind.

By following this approach, you will build rapport with your future clients. The road map also avoids giving you or your potential client a false sense of urgency or the pressure to act too quickly. It is based on clear, two-way communications and is the foundation of a successful business relationship.