{"id":90850,"date":"2025-02-16T02:39:04","date_gmt":"2025-02-16T02:39:04","guid":{"rendered":"https:\/\/peraltafinancing.com\/accounting\/whats-the-first-thing-you-need-to-find-out-from-a-prospective-new-client\/"},"modified":"2025-02-16T02:39:04","modified_gmt":"2025-02-16T02:39:04","slug":"whats-the-first-thing-you-need-to-find-out-from-a-prospective-new-client","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=90850","title":{"rendered":"What’s the first thing you need to find out from a prospective new client?"},"content":{"rendered":"


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When you are approached by a prospective new client it is tempting to simply give them what they say they want. Very often this will be a fee quote for the work required to help them with their annual compliance obligations.<\/p>\n

As this area of work becomes more commoditised so you need to distinguish yourself from other accountants. One way to do this is to ask better questions of each prospect. One key area for questions is around what the client really wants.<\/p>\n

This is best explained by reference to an apocryphal story about Black & Decker in the days when they only sold one basic product. A group of newly recruited executives were asked what it was that their customers wanted from them.<\/p>\n

The standard answer was \u2018drills\u2019.<\/p>\n

\u201cNo\u201d<\/em>\u00a0they were told.\u00a0\u201cOur customers want HOLES.\u201d<\/em><\/p>\n

How do you feel about this concept and the idea of focusing on the equivalent of a hole in the wall that your prospective clients want?<\/p>\n

Over the years it has become very clear to me how few accountants seem to be aware of this concept. The vast majority talk about what they do and pitch for new work without an awareness that what clients generally want are results and solutions to problems.<\/p>\n

Clients are typically completely indifferent as to how we help get those results and solutions \u2013 assuming it doesn\u2019t involve breaking the law etc. So clients will rarely care much about our internal processes and systems.<\/p>\n

I\u2019ve also noticed that there seems to be far more emphasis on identifying and then focusing on the client\u2019s \u2018pain\u2019 in sales training these days than I ever saw in my past life in practice. And it\u2019s often the toughest part of networking too.<\/p>\n

What do you try to find out when you meet with a prospective client or when you\u2019re networking and hoping that you will gain new advocates for your work?<\/p>\n

Do you take time to find out what result they are seeking or what problem they have? And do you focus your conversation more on whether their desired result can be achieved and their problem solved rather than on how you and your firm operate?<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

When you are approached by a prospective new client it is tempting to simply give them what they say they want. Very often this will be a fee quote for the work required to help them with their annual compliance obligations. 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