Business Strategy for CPA's 140 BS CPA LINGO BINGO
Today we’re playing BS CPA LINGO BINGO.
Lingo in the accounting space that makes some of us kind of crazy.
There are five terms that are especially problematic for CPAs and accountants that slow business growth.
In this First Edition of BS CPA LINGO BINGO, I’ll call out for
B! Advisory Services; I! Future-Proof; N! Trusted Advisor; G! Wait for it…; O! The 3% Rule of Thumb.
B! Advisory Services;
- The buyer asks, “Is there service without advice?”
- Buyers want the whole experience, not just the service
I! Future-Proof;
- Anything -proof connotes something you don’t want, or are trying to protect yourself from
- The future will be here tomorrow, like it or not
- You’re best off embracing the future with wide-open arms
N! Trusted Advisor;
- It makes no sense - why take advice from someone you don’t trust?
- It’s like Honest Banking - it’s not convincing
- Trust is built and generated, not granted
G! Big Firm Capability, Small Firm Personality:
- It’s not believable
- Why differentiate on personality when you can differentiate on wealth generation
O! The 3% Rule of Thumb:
- Collective business decision with no business strategy behind it
- Caps your income at 3% of your clients’ revenue - why would you do that to yourself?
Want to get your accounting practice to the next level?
Focus on creating value, selling outcomes, and pricing those outcomes. You’ll set yourself apart as a CPA who provides great service.
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