Building the Pipeline
How to build your accounting firm's pipeline and turn new business opportunities into new fees.
...and turn new opportunities into new fees.
Just about every accounting practice, in the world, grows by referral. This means that while referral is the hottest form of new business you'll ever have, it's nevertheless reactive.
In a business, where you have recurring fees, you don't worry too much about where the new business is coming from. But of course, that makes you completely unable to empathise with your clients whose sales departments hunt and kill just to pay the bills every month.
There are many reasons to build a pipeline in an accounting firm. Here are the most important reasons you need to know:
1. The pipeline acts as a practice growth engine, you know where your money is coming from in terms of new business.
2. The pipeline acts as an insurance policy against client loss.
3. The pipeline is a reminder to not become complacent about client service and make sure that you're always identifying opportunities to get to know your clients better, so you can serve them better.
4. The pipeline is a hallmark of a proactive organisation.
How this course can help your firm
In this bundle, we have compiled the most direct pipeline building resources we have for you so that you can continually know where your next six to seven figures are coming from.
If you use the seven avenues that we recommend correctly, then you will find that those six figures of opportunities that you identify when you retain them over several years, do indeed, turn into seven figures of new business. And that's before we even count upsells, cross-sells and anybody who is referred to you or any price increase that you choose to apply to that client in the time that they spend with you.
This resource is literally worth seven figures or more to you. All we ask is that you review the information on a regular basis, implement and refine, implement and refine again.
When you build a pipeline, then you walk your talk.
When you build a pipeline, you can go to your clients and say look, we build our organisation as well.
When you build a pipeline, it says you are serious about growth.
When you build a pipeline, you can confidently say to your prospects that you are advisors, to help them develop their business, because you walk your talk.
When business owners see an accounting firm, who are serious about growth as they are, they will immediately know you are an authentic firm that really can advise them on more than just their tax liabilities for this year.
How does building a pipeline help your firm?
When considering implementing a pipeline methodology into your firm, please understand four things:
1. You are identifying your firm's future fees.
2. You are protecting your firm against competitor attack.
3. You are turning your grade Cs and Ds into As and Bs.
4. You are ensuring that your grade A clients write you into their strategic plans for years to come.
Building the pipeline is such a critical part of a practice growth strategy that most firms fail to reach their full potential without the pipeline being in place.
How the pipeline acts as a growth engine for your firm
How the pipeline acts as an insurance policy to protect the firm
How the pipeline can improve your client service and identify opportunities
You will learn how to identify your firm’s future fees
You will learn how to protect your firm against competitor attack
You will know the steps to take to turn your Grade C and D clients into Grade A clients
Founder of The Bissett Group
Martin Bissett is the founder of the Bissett Group of companies that provide practice and personal growth communities, content, and continuing education exclusively to the accounting and bookkeeping professions worldwide.
Previously he established a high six-figure consulting firm while serving as a keynote speaker with over 100 one-off and repeat engagements to his name, as well as becoming the most published author on his topics of specialism with 11 books including 1 bestseller.
Since 1998, he has played a major part in working with over 1800 accounting firms in over 40 countries. These projects have led to those firms acquiring over £500m of recurring fees before inflationary increases, referrals and upselling are factored in. He stopped keeping track of this number over 5 years ago.
Martin now advises both accounting practitioners and FinTech companies alike, at board level.
Your Pipeline Resources
Episode 1: Pipeline Building
Episode 2: Many Sources of Rain
Episode 3: Sell is a Four Letter Word
Episode 4: A.C.C.O.U.N.T.S.
Episode 5: Seven Avenues
Episode 6: What Tom Understands
Episode 7: Tom's Private Life
Episode 8: Differentiation via Superiority
Episode 9: Getting the A.C.C.O.U.N.T.S.
Episode 10: The Water Law
How to Build a New Client Pipeline
Practice Growth Checklist
The New Client Pipeline Tool
Practice Growth Metrics
Creating a Proactive Referral System
Building Your Pipeline
Which Taps Do You Want to Turn On
Sample A.C.C.O.U.N.T.S. spreadsheet
Grow your firm and turn new opportunities into new fees