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• W276420439 abstract "[ILLUSTRATION OMITTED] After years of intense technical training, many CPAs find it difficult to turn their attention to the new role of cultivating clients and attracting referrals. Firms can put strategies in place that teach up-and-coming talent how to look beyond a compliance mindset and uncover the strategic opportunities that lead to new This means giving young CPAs a place to turn to get the answers and support they need to develop a robust networking identity and learn the skills they'll need to bring in new This article examines the challenges of business development and suggests state-of-the art strategies to set CPAs on the path to developing rainmaking skills early in their careers. BUSINESS DEVELOPMENT IDENTITIES The authors' interviews with and assessments of hundreds of clients over the past 23 years show that in the general population, there are three kinds of networking identities. About 20% are Naturals. Building business relationships comes easy to them. About 10% are Naysayers. They resist taking a business development role. They can be heard saying things like, didn't sign on to sell! My good work should stand for itself. Why do I have to go out and toot my own horn? Anyway, I thought the marketing department was supposed to find new business. The majority--about 70%--are Neutrals. They get in gear and adopt the skills when they are told it is expected of them, when they see positive role models, and when they have a program that gives them an organized, methodical way to acquire skills. WHY START EARLY? CPAs should start early in their quest to get out of neutral and begin developing their own approach to building relationships. When CPAs start early, they can: * Take advantage of mentoring by experienced people in the firm before those business development experts retire. * Continue to build relationships with peers from school, so that when those contacts need to hire an accounting and tax expert, the former classmates see their CPA peer as the natural and only choice. Cohort groups, such as college friends, represent deep, broad, and diverse networks that have been known to bring business benefits down the road---if the individual members have the skills and resources to create business opportunities out of social interactions. * Invest the time it takes to make networking identity and skills a natural part of their repertoire (see the sidebar Eight Networking Competencies)- Each person has a unique style of interacting with others. The goal is to make networking a way of life and a natural activity--not something else on a CPA's to-do list. WHAT IS A NETWORKING IDENTITY? CPAs who are the most successful at client cultivation have found a way to feel natural and comfortable, not forced and phony, with business development. Many people have the misconception that networking is manipulative and fake. It's often pigeonholed as something only job seekers and salespeople do. CPAs must reframe their beliefs about the role of networking in the business world. Whether they are extroverts or introverts, CPAs can learn the relationship-building skills necessary to succeed at business development. CPAs should realize that trust isn't built in seconds, or even a few weeks. Unlike the fellow who said, tried networking last Thursday. It doesn't work, professionals who are successful at client development have a robust and positive mindset. They connect, converse, and collaborate with business growth in mind and make themselves and the firm visible and trusted in the community. That long-term relationship-building investment pays rich future dividends. Cheryl Heusser, a CPA at Snyder Cohn in North Bethesda, Md., got involved early in her career with Rockville Economic Development Inc. (REDI), a nonprofit that supports startup entrepreneurs. was there to meet people, listen to their problems, support their success, and offer workshops, she said. …" @default.
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• W276420439 date "2014-05-01" @default.
• W276420439 modified "2023-09-24" @default.
• W276420439 title "Raising Rainmakers: Firms Should Start Early to Nurture Business Development Skills in Young CPAs" @default.
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