What are CPAs thinking about? We think we know… and you should too. As I chat with professionals and practitioners around the country, a few of their concerns surface as top-of-mind. It’s worth paying attention to these concerns because they provide a vocabulary for marketers seeking to reach the tax, accounting and finance markets. You’d think that today’s tough and uncertain business conditions would be uppermost on CPAs’ minds. And, to be sure, they are important. But not quite as important as flawless execution. In fact, accountants and finance managers have already made the most significant adjustments they think they’re going to need for the current conditions. They have restructured and rationalized, toughened up on collections and clamped down on operations. And, this being busy season, CPAs are, more than they have in a long time, going back to basics to make sure they implement the strategies they have set in place. The economic outlook comes second. To be sure, costs, prices and new business development rank high on the top 10 worry list for CPAs. Still, “implementation and execution of plans” remains No. 1, according to a recent AICPA Insiders/CPA Trendlines study. Top 10 Issues on CPAs’ Minds:
But you don’t have to take my word for it. Listen to Ralph Mooney, a loyal reader at Mooney Thomas CPAs in Aurora, Ill. Here is his list of priorities for 2010:
Or listen to CPA Edith E. Smith, who’s tackling her second tax season with a new document scanner in place. Her plans for implementation this year also boil down to a list of three:
Neither CPA is working with a bad set of plans. But it’s all fairly basic business. For the final word, let’s turn to Dean Owen, owner-operator of a 30-person business accounting and financial planning agency in Paducah, KY. After years of heady growth and then the tumult of recession, Owen is zeroing in on day-to-day operations. He believes that he can increase assets under management and increase average billings by 20 percent through “better customer selection.” He is ready, he says, to “transition” his business “from ‘build it up’ to ‘manage it well.’” Speaking for many CPAs I’ve been hearing from, he says, “My next big gains will be from better management, not increased size.” The vertical and channel marketers who understand people like Ralph, Edith and Dean will be the ones to emerge busier than ever after busy season. More for CPA Channel Marketers by Rick Telberg:
RICK TELBERG is president of Bay Street Group LLC, which provides research and marketing and communications services to CPA firms and the vendors who serve them. He is the founding editor of the Insider newsletters and serves as AICPA Editor at Large and Director of Online Content. In his two decades in media and marketing for the finance, tax and accounting industries, Telberg has played pivotal roles in the development and operation of the leading media and e-commerce outlets in the business, including Accounting Today, The Practical Accountant, Accounting Technology, WebCPA.com, SmartPros.com, and CPA2Biz.com. Contact Rick at rtelberg@baystreetgroup.com or (914) 674-4531. He blogs at cpatrendlines.com. Follow CPA
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Seek New Success in Back-to-Basics