CPA Practice Advisor - 7

COVER STORY
prepared to talk about the products that can
improve a client's life when you meet.

3.

NEVER GO IN
ALONE

This is some of the best advice
I received over my 30-plus-year career. For partners, going into a meeting alone can create a few
potential challenges, specifically in terms of firm
growth and your quality of life. First, going in
solo sets the expectation that you are going to
do the work because you are the one building
the relationship. Second, it puts the onus on
you to pass client information along to the staff
members who will actually perform the work.
This leaves room for error and will drain more
of your time. Lastly, going in alone can suck the
life out of firm growth because your staff will not
feel empowered to take on the responsibility of
growing client relationships.

START GETTING TO KNOW YOUR
CLIENTS BETTER ... IN ORDER TO
SERVE THEM BETTER
throughout the year...and definitely during tax
season when you are face to face with clients. My
best guess is that some firms might have basic
data on record, such as the firm services and
products the client is using...and maybe even
the technologies that support them. (I would also
speculate that much of this information is maintained in the heads of key staff and not within
a dedicated CRM system.) These are examples
of "just-scratching-the-surface" data. After all,
what does this information really tell you about
clients' wants-their goals and dreams? How can
you ever expect to work proactively with clients
when you don't have the right data in hand?
In my firm, we run an "Insights" report
before we meet with any client. This provides
a panoramic view of what we know about the
client...and the information gaps that need to be
filled. With this knowledge, we go into a meeting
with data collection in mind. We not only fill
the gaps in data-such as determining if clients
are using the current version of QuickBooks or
using our payroll services-but also, do they
want more guidance on setting up 529 plans for
their kids, do they have an established 401(k) or
ROTH IRA, what are their retirement goals, and
do they desire deeper tax planning to improve

their current situation? This is prime time to
ask such open-ended, exploratory questions as:
"What do you really want from us?" and "What
are your life goals?"
The key here is to have deeper conversations
than you've ever had with your clients. You'll be
surprised at the volume of data you can collect.

2.

GO IN WITH A
PRODUCT MINDSET

Based on knowing as much as
you can about a client (all that
valuable data), go into your meeting armed with
ready-made tools (such as a sales presentation)
to present value-add products that can benefit
the client. This is how you are truly able to work
proactively and take steps to make the client's life
better! For example, if the client is using a credit
card for business expenses that is not offering
the best rewards, pitch your firm's credit card
advisory product. If your client desires to retire
by age 55, pitch your retirement planning product
that will help reach this goal.
We are accountants and advisors first, but
we are also entrepreneurs. Business growth
is essential to survival, so make sure you are

As a profession, we have an immense opportunity to improve our game. The time has come to
move past simply providing a good experience
to proactively working to make our clients' lives
better. When you understand the importance of
data...of getting to know your clients at a much
deeper level...you can start to serve them in a
proactive manner and, ultimately, witness results
that are transformational.
When you take the time to identify and track
client goals, to ask more profound questions
about their true wants, you can offer far more
personalized services that help clients not only
achieve their goals but also enrich their lives
overall and for the long-term. Make it your goal
to go into your next sit-down armed with these
three secrets to running a successful and profitable client meeting. ■
Darren Root, CPA.CITP, CGMA is former
executive editor of CPA Practice Advisor, and
is the co-founder and CEO at Rootworks,
the business model for the Modern Firm®.
Rootworks supports its members with
turnkey client products, a smart CRM
platform, strategic coaching and the support
of an established peer network. Learn more at rootworks.
com. Subscribe to Darren's Better Every Day podcast on
iTunes or listen from the Rootworks website at rootworks.
com/podcast for a deeper dive on the topics discussed in
this article and more.

FEBRUARY 2020 ■

www.CPAPracticeAdvisor.com

7


http://rootworks.com/podcast http://rootworks.com/podcast http://www.CPAPracticeAdvisor.com

CPA Practice Advisor

Table of Contents for the Digital Edition of CPA Practice Advisor

From the Editor: It's Really the 21st Century Now
From the Trenches: Do You Have a Clear Technology Vision?
Three Secrets to Ensure Successful (And Profitable) Meetings
Technology In Practice: CES 2020 Highlights: New Workstations for Accountants
2020 Product Reviews: CRM Systems for Accounting Firms
The Staffing & HR Advisor: 5 Tips to Prevent Staff Burnout During Tax Season
The ProAdvisor Spotlight: Take the Pain Out of Payroll with New Features in QuickBooks Online Payroll
2020 Product Reviews: Expense Management Systems
The Leadership Advisor: A Different Kind of Value: Defining Your Professional Purpose
Apps We Love: Meeting & Calendar Apps
The Millennial Advisor: "Alexa, Call My Accountant": Staying Relevant in an AI World
Three Visionary Trends to Consider in 2020
A Year in the Life of a Payroll Accountant: What is a Payroll Lookback Period for Forms 941 and 944?
AICPA News: A Round-up of Recent Association News and Events
Bridging the Gap: Six Steps for Adopting a Growth Mindset
CPA Practice Advisor - 1
CPA Practice Advisor - 2
CPA Practice Advisor - From the Editor: It's Really the 21st Century Now
CPA Practice Advisor - From the Trenches: Do You Have a Clear Technology Vision?
CPA Practice Advisor - 5
CPA Practice Advisor - Three Secrets to Ensure Successful (And Profitable) Meetings
CPA Practice Advisor - 7
CPA Practice Advisor - Technology In Practice: CES 2020 Highlights: New Workstations for Accountants
CPA Practice Advisor - 9
CPA Practice Advisor - 2020 Product Reviews: CRM Systems for Accounting Firms
CPA Practice Advisor - 11
CPA Practice Advisor - The Staffing & HR Advisor: 5 Tips to Prevent Staff Burnout During Tax Season
CPA Practice Advisor - The ProAdvisor Spotlight: Take the Pain Out of Payroll with New Features in QuickBooks Online Payroll
CPA Practice Advisor - 2020 Product Reviews: Expense Management Systems
CPA Practice Advisor - 15
CPA Practice Advisor - 16
CPA Practice Advisor - The Leadership Advisor: A Different Kind of Value: Defining Your Professional Purpose
CPA Practice Advisor - Apps We Love: Meeting & Calendar Apps
CPA Practice Advisor - 19
CPA Practice Advisor - The Millennial Advisor: "Alexa, Call My Accountant": Staying Relevant in an AI World
CPA Practice Advisor - Three Visionary Trends to Consider in 2020
CPA Practice Advisor - A Year in the Life of a Payroll Accountant: What is a Payroll Lookback Period for Forms 941 and 944?
CPA Practice Advisor - 23
CPA Practice Advisor - AICPA News: A Round-up of Recent Association News and Events
CPA Practice Advisor - Bridging the Gap: Six Steps for Adopting a Growth Mindset
CPA Practice Advisor - 26
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