While talking with accountants about developing and selecting exceptional clients, I’ve often heard similar ideas from different business professionals:
- I am a professional. I can serve all clients with full sets of services
- It’s not easy getting good clients. It takes time to learn a business owner’s preferences and style
- I wish I had better clients.
- I depend on tax season too much now, and it’s difficult. My staff, family, and health get stressed.
For an accounting firm, choosing the right clients can make all the difference for your professional journey. Just as business owners and entrepreneurs need to carefully select their accountants, accountants themselves must be equally discerning in attracting and choosing exceptional clients. This strategic approach improves the practice and builds long-term, mutually beneficial relationships.
Important Ideas for Selecting Exceptional Clients
1. Define Your Ideal Client
Start by defining the characteristics of your ideal client. What type of businesses do you want to work with? Consider factors such as industry, size, financial stability, and ethical standards. Having a clear picture of your ideal client will guide your client acquisition efforts.
2. Leverage Your Network
Tap into your professional and personal network to seek referrals from colleagues, friends, fellow accountants, and business associates. A referral from a trusted source can lead you to exceptional clients who align with your values and expertise. Your business associations, school committees, church groups and local associations all give you opportunities to meet new people.
3. Build a Strong Online Presence
Today, clients often research everything online. Make sure your website, LinkedIn profile, and other online platforms and/or social media are professional and up-to-date. Highlight your expertise, specialization, and commitment to ethical practices, establish yourself as a thought leader, and share brief anecdotes about the pressures and successes your clients have experienced – without naming the clients.
Filter Prospective Clients
When you encounter potential clients, don’t rush into an engagement. Take time to evaluate them against your ideal client criteria. Here are some considerations:
A. Financial Stability
Assess their financial stability and history. Clients with a strong financial track record are more likely to be reliable and transparent.
B. Compatibility
Evaluate the potential client’s communication style, responsiveness, and their willingness to collaborate. A client who values your expertise and respects your professional boundaries is a valuable asset.
C. Ethical Standards
Make sure the client’s business practices align with ethical standards. Clients who prioritize ethical financial conduct are more likely to maintain a trustworthy partnership.
D. Goals and Expectations
Discuss their financial goals and expectations. A client with realistic and achievable objectives is more likely to appreciate your guidance.
E. Long-Term Commitment
Seek clients who are committed to a long-term partnership rather than one-time transactions. Building lasting relationships is more rewarding for both parties.
Client Examples Shared by Accountants
Good Clients:
The Transparent Entrepreneur
One accountant shared an experience with a client who consistently provided transparent financial data and valued their expertise. This client’s commitment to ethical practices and open communication made the partnership highly successful.
The Collaborative Small Business Owner
A small business owner who actively collaborated on financial strategies appreciated the accountant’s guidance and respected professional boundaries. This client’s commitment to mutual growth made them a prized collaborator.
Bad Clients:
The Communication Laggard
Another accountant recalled a client who consistently failed to provide timely financial information, causing delays and frustration. The lack of effective communication made the partnership challenging.
The Unethical Requester
In some instances, accountants encounter clients who pressure them into unethical or illegal practices, such as tax evasion. Accountants must steer clear of such clients to maintain their professional integrity.
As accountants, you have the power to shape your client base. By proactively seeking and selecting exceptional clients who align with your values and expertise, you can build a thriving practice and lasting partnerships. The journey to finding exceptional clients requires patience, strategic networking, and a keen eye for compatibility.
The right clients will not only contribute to your professional growth, but will also create trust, respect, and mutual success.
