Product Tips
How to Meet CPAs to Expand Your Freelance Bookkeeping BusinessBy: Judy Fudge, Certified Bookkeeper and Advanced Certified QuickBooks ProAdvisor®
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Situation
You freelance your bookkeeping services and work hard to find new work from business owners and especially - if you can find them - CPAs. But how do you meet CPAs? And once you find a CPA, how do you present yourself and your services?
Response
You're not the only one out there networking. CPAs network too, so standard business networks are useful for meeting them as they look for more clients. Once you meet a CPA, offer to do a job for the CPA as a free sample.
Networking
When networking for new freelance bookkeeping business, I'm convinced that the key to success is focusing on meeting CPAs.
If you meet 20 business owners, only a few of them may need you. Of the few who need you, only a handful will be willing - or able - to pay your rate. That means if you end up closing five or six new clients, you are doing well.
But one CPA can send you a steady stream of clients, all of whom need a bookkeeper (or they would not have been referred by the CPA) and all of whom are sold (because the CPA recommended you). In this scenario, you have more like a 100% closing rate.
I started my practice by developing a reputation with CPAs. As a result, I never needed to prospect directly to business owners, and soon became so busy, I began turning away people."
How did I meet CPAs? I joined the local Chamber of Commerce (CC) for starters, but did not stop there. I also found and joined the local branches of several lead-generating organizations, including
- Various business networking groups (see links to representative groups at www.marketingforsuccess.com/networking-guide.html).
- Leads Club (www.leadsclub.com)
- Le Tip (www.letip.com)
But I believe that your local CC is far and away the best place to develop relationships, because that is where you meet the most CPAs.
It Still Takes Work. Even if you join your CC and other organizations, you can't just pay your dues and expect to get results. You need to go to the meetings and mixers and get to know people.
When you attend a local business meeting, find a CPA, strike up a conversation and, when the moment seems right, explain what you do. If they ask your rate, give it to them, but say, "I'd like to show what I can do on a complimentary basis." For me, this strategy paid off big time.
Follow Up on Offer. Don't let the possible link with the CPA falter. A little persistence helps. You can follow up your offer by asking, "Do you have a project you'd like me to look at?" If you don't get a response, make a specific offer.
For example, I would often tell the CPA, "If you have a client using QuickBooks, I'd be happy to do an analysis of a file. The rationale is that many businesses set up QuickBooks incorrectly or misclassify the accounts, such as classifying an expense account as an asset or a liability account under Revenues.
These are mistakes you can find and analyze in an hour. You give the CPA a neat laundry list of corrections - two pages, double-spaced - which demonstrates your competence and leads to referrals.
Be Ready with Other Options. If there was no client on QuickBooks, I'd offer to do a few months' worth of bank recs.
But don't expect to be overwhelmed at first. Only three CPAs took me up on the free hour when I was starting out. But one ended up having me come to his office three days a week to do the bookkeeping for 10 of his clients. Back then I was just starting out, at $35 an hour, so to get so much additional work was a huge pay-off just for doing one free hour.
One Last Tip
Don't forget computer gurus, too. As I got smarter, in addition to looking for CPAs at breakfasts, lunches and dinners, I sought out computer gurus and technology consultants. I explained that I install QuickBooks, set up the books and do training. If their client already used QuickBooks, I offered free data analysis - checking accounts for incorrect balances (credit balances in an expense account, etc.).
Some CPAs can miss this kind of error because when they do a simple tax return for a small business, they may look only at total revenues and expenses.
Judy Fudge has recently retired, and we much appreciate her willingness to share her ideas with other practitioners after a long and fruitful career. Based out of Pittsboro, North Carolina, she may be contacted at fudgbug@yahoo.com. She does not have, and has never had, a Web site.
An earlier version of this tip appeared in publications of the American Institute of Professional Bookkeepers (AIPB), the national bookkeeper membership organization which offers the Certified Bookkeeper credential, training classes and materials, and other support for bookkeepers. We appreciate the kind permission of the AIPB to adapt their content here, and as approved by Judy.
Last Updated: 04/10/2008
