Concierge Comments: Organic Growth with Mini-Retreats
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everal CPAmerica leading partners have commented recently that organic growth is most often derived through nonrecurring KATHY MCDONALD, consulting DIRECTOR OF engagements CONCIERGESERVICES with new clients, which then leads to other engagements with the client when the initial work is underway. In fact, at a recent Leading Partners Retreat, one leading partner indicated that his goal is for firm partners to generate at least 30 percent nonrecurring client work each year, in the interest of stimulating organic growth. Veteran CPAmerica members may recall the client “mini-retreat” approach to business development. Among many advantages derived from these retreats, noncompliance consulting opportunities were the frequently occurring outcome. When first introduced to CPAmerica members many years ago, the original objectives of the brief client retreat were to maximize the slower summer season, create a value-added service for existing clients, and to introduce promising emerging leader(s) to exploration of exceptional client service.
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(such as computer consulting, wealth management, etc.), and appropriate emerging leaders from the CPA firm are also present. When the partner-in-charge makes the invitation call to the client, the retreat is presented as a chance for the client to get together informally with the CPA firm business advisory team. There is no fee to the client for this time spent. The client is advised that there is no official agenda per se, and they are encouraged to come in and talk about whatever is important to them. It is important to convey that the CPA firm intention is not to provide a freebie accounting Q&A session, but rather a chance to listen to what issues the client brings to the table and to brainstorm together in the spirit of continuous improvement on the client’s behalf.
in proposals, it helps differentiate the firm from other firms • Involves your firm’s emerging leaders in the client service/entrepreneurship process • Maximizes slower seasonal time into business development time Minutes are taken during the live retreat. The follow up for the miniretreat not only includes thank you notes to each attendee, but also a report with action steps and a list of potential services which ultimately can be tracked to, and through, the engagement stage. In addition, the potential for ongoing relationship building between the client and firm representatives attending the retreat is heightened. Past experience demonstrates the miniretreat can also be an effective way to engage targeted prospects.
Although the meeting is not structured in the usual sense, the lead partner and the facilitator partner are prepared with guiding questions that will help set the direction of the discussion. Examples of the types of questions are: • What are the biggest problems you’re having in the business? • Do you have a current business plan? • Have you addressed succession planning? • What are your short-term plans? • Where do you want to be in five years? • How can we service you better?
However, the mini-retreat program, during the course of implementation, yielded more than imagined and was solidified into a year-round business development and client service program.
The bottom line is that if you listen to the answers to these questions, you will hear exactly what the client needs and wants from you. Reading between the lines of these discussions, clients will tell you which services they want to receive in the future.
Existing business clients are selected to participate in an individual twohour meeting over lunch or breakfast held at the firm. The client is invited to bring their choice of the principals of operations and/or key management. The partner-in-charge of the account, plus a ‘facilitator’ partner, a member of the tax and/or audit department, and other key department managers
From a firm profitability standpoint, the mini-retreat offers positive outcomes for both client and firm, such as: • New and expanded services which the firm can provide are identified • Outcomes can be far more effective than just taking a client or prospect to lunch • The relationship with existing clients is solidified • When the mini-retreat is mentioned
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