The importance of building relationships with clients.
As an accountant, achieving success goes beyond merely offering top-notch products or services. In the grand scheme of things, most of us tend to follow the same conventional methods.
While the quality of your offerings remains vital, the real growth catalyst lies in forming meaningful, enduring connections with your clients. Establishing relationships with clients isn't just a procedural step; executing it proficiently can truly distinguish your business from competitors (and outsourcing the bits you don't like lets you do that).
Reflecting on my early days at Moore Stephens, I had the privilege of working with prestigious tax clients, including one based in Sydney who entrusted us with HUGE annual assignments. This demonstrated the immense trust they had in the Partner overseeing the project.
Fast forward to when I embarked on my own firm, armed with transparent fixed fee structures and relationship-building expertise. Unlike the dramatic "Jerry McGuire" moment, I didn't have a client base. Not one. Absolutely zero (with a 'Z,' not an 'X').
In the initial stages, every client is a valuable client. While you aspire to have the liberty to select your clients eventually, in the early days, every dollar earned is a significant achievement, no matter how challenging it may be.
Diligently and effectively executing your tasks is a pivotal method of cultivating trust with clients. Trust serves as the cornerstone upon which successful client relationships are constructed. Clients must have faith in your consistent ability to fulfill your commitments. Prioritizing open communication, transparency, and integrity lays the foundation for robust bonds. Trust matures over time through positive interactions and consistent experiences, prompting clients to favor your business over competitors.
Building robust client relationships transcends mere transactions. It revolves around delivering value to your clients in diverse ways. This might entail providing recommendations, disseminating educational content, or connecting them with specialists in areas beyond your expertise. When clients view your accountancy firm as an invaluable resource, they are more inclined to depend on your proficiency and return for future requirements.
Moreover, contented clients often eagerly share their favorable experiences with others. By nurturing client relationships, you harness the influence of word-of-mouth marketing. A glowing endorsement from a trusted source can significantly enhance your brand's standing and create fresh opportunities for expansion.
This is precisely how our accountancy firm flourished before its sale. A couple of clients who were effusive in their praise and referred others to us were instrumental. Without these two sources of referrals, our firm would never have burgeoned to the size it achieved from a humble start.
Never underestimate the potency of exceptional service.
To achieve exceptional service it's worth considering outsourcing, especially very process orientated tasks like SMSF outsourcing to free up your time.