CPAs and Accountants: How to grow your practice

Before you spend time and money on marketing, you should determine how you want to grow your practice. By this I mean what type of clients do you want more of?

Let’s assume you already work for ten real estate offices in your market area. If there are forty more offices, maybe you should consider spending your marketing time and dollars to acquire ten more real estate offices.

If you are in a large population area, it is possible to acquire enough clients in one industry to limit your accounting practice to a single industry. If you are in a smaller community, perhaps you can specialize in two or three industries.

Take time to analyze your current client makeup to see where your expertise and interests lie. Which of your clients are the most profitable? Which give you the best return on your time? What industry do you enjoy working in the most? What is the industry makeup of your business market area?

Most practitioners who become the “go to” firm for a given industry or service make more money than those who remain in “general practice.”

Arvid Mostad

Arvid Mostad is the President and co-founder of Mostad & Christensen, Inc. Since 1978, M&C's marketing products have helped accounting firms build client loyalty, get more referrals, add value to services, be visible in their community, and keep clients informed.