To remain competitive, you need to revisit your fee base and provide value-adding services.
New lines of business are possible through your network, and you can use tools such as data analytics to help you grow your business.
You need to ensure you remain central to your clients’ financial affairs. Your goodwill should become the clients who feel that you are a key part of their life journey.
- Treat your practice like a business
- Ensure you remain your clients’ trusted adviser, be proactive, and anticipate their needs
- Link clients to people and services within your network
- Build managing clients’ investments into their long-term plans, either yourself or in association with your network
Focus on maximising the value of the firm, the spread of services offered, the firm’s inherent profitability, and the quality of your client base
These guides have been designed to provide you with guidance on organic growth. This positions your business for eventual succession.
External growth strategies include advertising, seminars, sponsorship, newsletters, events, directory and database lists, promotional materials, and websites.
Two of the best forms of marketing, however, are networking and referrals. Word-of-mouth referrals from happy, existing clients are the best form of advertising. These should be actively sought and cultivated.
Watch our webinar recordings on the importance of marketing and promoting your practice, proven tactics for success and how to set the foundations for a marketing plan.
Find out more
Read CPA Australia’s guidance on how to build social media communities to stay in touch with existing clients and raise your profile with new clients.