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 We can agree that we've been operating in a tough economy the past few years. This has caused many CPA firms to refocus their marketing efforts, recognizing the need to retain current clients and obtain new business. Yet, there continues to be many CPAs that do not have a vision for their firms.
According to a Franklin Covey and Harris Interactive Survey (March 2004) of 11,045 adult U.S. workers, only 48 percent of workers say their organization has a clear strategic direction and only 37 percent say they understand the reason for that strategic direction. Only 44 percent of those polled say their organization has clearly communicated its most important goals. In a separate study conducted by Franklin Covey, only 15% of workers could actually identify their organization's top three goals.
Your first step to firm growth is to determine your firm's vision, where you want to be in the future. Click here for the questions to ask when creating or refining your firm's vision and how to set your revenue goals.
Enjoy,
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Capstone Conversation With Randy Mowat
Randy Mowat is the Senior Vice President of Marketing for MNP, one of the largest chartered accountancy and business consulting firms in Canada. Since joining MNP in 1996 the firm has grown from $22 million in revenue to $400 million!
During our Capstone Conversation Randy shared his thoughts about successful mergers, the firm's niche marketing strategy, the importance of a brand, and his most effective lead generation tools.
You mentioned that the firm's growth has included a lot of mergers. How has that impacted the firm's marketing culture and how do you cope with internal communication and making sure that everybody is on brand as you continue to get bigger and bigger?
Randy Mowat: The one foundation is you have to be very selective in who you let in. What I mean by that is, when we do mergers with firms it's not a question of, "you'd like to merge, great, let's do a deal." There is very much a robust process we go through with that potential firm. It's first all about values, culture, vision, and personality. Those are the things that we talk about right up front. We don't even have a discussion about financial performance or quality of files or anything like that. We don't even get to that until the second or third meeting. It's all about making sure those people we are bringing into the larger room fit in the first place. If there's no fit, there's no second meeting. I think that's really important.
Click here to read the complete Capstone Conversation with Randy Mowat
Click here to listen to the complete Capstone Conversation with Randy Mowat |
