Where’s the Beef? Steps To Prime Your Service Model

There was a time when this question generated a smile as people recalled a popular commercial that used the question as a tag line. Today, when people either ask or think of this question, no one is smiling - and it is not because they forgot the commercial or never saw it. The current economic climate has created a reality where clients are routinely questioning value and accounting firms are concerned about the contribution from both their partners and their staff. Questioning where the beef is certainly is not new, and without a doubt, the question is not the problem. The problem is taking the right steps to assure that your firm’s beef is grade “A.” Follow these key steps to make the grade:

BE POSSESIVE – Now, more than ever, you must look at your client’s business as if it were your own. Putting yourself in the clients’ position goes a long way to providing the right solutions and confirming your value to them. These efforts will spice up your value:

• Plan and conduct business retreats for at least each of your “A” clients. You want to be fully aware of all of their critical issues as well as an architect for the solutions and a sounding board for their thoughts. Clients place little value on the compliance skills that accountants bring and generally can’t even understand them. They have a need for support, advice and recommendations and can comfortably value these contributions.

• Provide not only state of the art guidance on using the laws and regulations to your client’s advantage, but be sure to have an arsenal of extended resources to bring to them as well. Resources like your contacts can frequently be of great value to your clients. Make a point of routinely networking on behalf of your clients and being in tune with the type of connections from which they would benefit. Encourage your clients to document their interests so you have a handy memory jogger to use as a tool to invite your contacts at a later date.
  

• Develop a schedule for recurring contact beyond the formality of a retreat so you remain in the loop as a timely resource. Aligning yourself with the pulse of your clients’ business not only demonstrates your interest in the client, it positions you to take possession of the meat of your relationship.

BE AGGRESSIVE – Look at your firm as if it were a client’s business. Take an unemotional outsiders perspective on the strategic fiber of your business. We are in a people business and the owners set the tone and the example for the organization. Partners need to be passionate about the purpose of the partnership and the value that each of them brings and provides as owners and leaders. Heightened passion in your ownership group is crucial.

• Each of the owners should be required to do a public self evaluation in front of their peers and each of the owners needs to respectfully comment and honestly critique. You must find ways to capitalize on your individual and mutual strengths and commit to hold each others’ feet to the fire. If an owner’s contribution is below the value standards that others reach you must deal with it and be sure that all of the owners are aware of the issue and the resolution. Clients expect value from your owners and you must expect proper value from each other.
  

• Create Value Growth Plans for each of the owners, share them with the ownership group and meet every other month to evaluate the success of the plans.

• Turn the heat up on your leaders – start to cook the beef and if the beef is not the right kind, go out and get the right kind whether by merger, acquisition or recruiting. Tough times merit aggressive and progressive actions. Market conditions and post tax season flexibility provide the right kind of opportunity to serve the kind of beef that clients and prospective clients will savor – be determined in your efforts to make the best available.

Successful firms should prosper in good times and bad. Concentrating on creating value is a prime way to assure success. Take the steps like the ones I have discussed and you will be creating the right kind of value.