We are in an environment of specialization. Increasingly CPA and advisory firms who operate a generalist practice are losing ground to those who operate as niche practice specialists.
It makes sense, business owners and managers want to know that you understand their businesses and their industries and that you can anticipate their needs.
Describe: Who are they? What do they do? Where are they located? What are their challenges? What do they value? What do they need? What do they want?
As you flush this out you should be able to compile a list of their common needs and challenges. Your services should map to their needs.
This exercise can be more valuable if you step outside of your accounting firm's perspective. Your ideal client may have needs that don’t align with your accounting firm core services. This reality can often suggest a good opportunity to partner with another professional services provider to complete the offering. Going to market with a strategic partner can be a terrific combination.
Document your ICP in a client (and referral partner) facing document. You should be able to talk others through it. It should resonate with prospective clients. They should come away from the conversation thinking “yes that’s me, she really knows my business.”
Craft services/fee packages. Your services need to be easy to understand, scoped appropriately, and be affordable in a model that provides a clear return on investment for the client.
Ideally, you will combine annual compliance services with advisory services in a package that offers superior value.
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