3 Keys to Rapid Sales Growth & Profitability for Your Accounting Firm

The Realization of The Perfect Firm
April 19, 2017
ULTIMATE ACCOUNTANTS’ GROWTH GUIDE
May 6, 2017

 

For your Accounting firm to achieve rapid sales growth and profitability, attention must be given to three key aspects – People, Processes and Practices/Practises.

Let’s break them down into the three questions you need to ask yourself. The answers are the sales drivers that are fundamental for a winning sales strategy.

People: Do we have the right people?

  1. Right People, Right Roles: Either develop or recruit true sales professionals. Have an effective Sales Manager that will train, grow and develop a Sales Team in higher quality and quantity.
  2. Team Assessment: Gauge your current team’s individual competencies. This will allow you to determine areas for improvement.
  3. Role Definitions: Establish clear definitions of each team member’s responsibilities. You will require this to determine key performance indicators and metrics.
  4. Mindset / Attitude: Foster a team that is coachable and takes the initiative to pursue the necessary steps towards improvement.
  5. Recruit and Upskill: Develop an ongoing recruitment process and a learning development system to ensure growth and sustainability.

Processes: Do we have the right courses of action?

  1. Goal Achievement Plan: Create a written, committed and focused action plan to achieve each sales team member’s KPIs and minimum targets.
  2. Sales Process / Scorecard: Implement a sales processing system that will serve as your team’s guidelines as well as allow you to monitor activities and measure individual and team performance.
  3. Strategic Planning: Organize/Organise time management and areas of focus on key account listings and their respective territories.
  4. Proactive Pipeline Management: Establish definitive stages of your sales pipeline. Have detailed account status and corresponding steps to advance opportunities. Make sure to align this with your firm’s sales process and integrated with CRM tool.
  5. Touch System: Create a value-based ‘Touch System’ to better communicate with clients/prospects and grow trust relationships to advance pipeline opportunities.

Practices/Practises: Do we have the right way of doing things?

  1. Differentiate by Value Selling: Create a unique perception of value for prospective clients. Develop a competitive advantage that sets you apart from the competition.
  2. Model the Masters & Mentoring: Accelerate upskilling of new hires to be more productive quicker. Apply the best sales practices/practises and replicate to speed up success.
  3. Personality Styles: Allow for a more versatile training process that adapts to a variety of personality styles.
  4. Success Guides: a) Create a guide for Best Questions and Active Listening. Develop best questions for every step of your sales process. b) Create a guide for Top 5 Objections and Best Responses. c) Create a guide of your Success Stories using relevant stories that illustrate solutions. Train and practice all of them.
  5. Sales Meetings: Focus meetings on training and skills development. Role practice in-house or with customers.

The thousands of global Accounting businesses who’ve implemented these sales drivers correctly and consistently are now experiencing ultimate success. As Accountants, you don’t realize that a lot of your client facing role is actually SALES. As Accountants, you are the experts. You are already armed with the knowledge you need to share with clients. The only missing ingredient is a structured process you can take clients through that allows you to close and scale with ease.

A winning sales strategy is 1 of 20 key strategies you need to reshape your Accounting business into ‘The Perfect Firm’ for you. Accounting firms worldwide have increased profit by 75.5%, enhanced capacity by 30.6% and achieved sustainable revenue growth of 52.1% in 12 months or less.

You can do the same.

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