There’s a commonly quoted statistic that it’s ten times more costly (in terms of time and cash) to generate new work from new clients than it is to generate additional work from existing clients.
But if you’re really honest how do you allocate your precious time? Do you make time for meeting new people and for introductory meetings with prospective clients? If you’re like most ambitious accountants these will be two common activities for you.
But how much time do you devote to your existing clients – over and above the work you do for them each year? How much time do you spend looking for new ways to help them?
Notice how I asked that last question. How much time do you spend looking for new ways to help them?
I specifically didn’t suggest you should spend time looking for new ways to bill them more fees. Clients know the difference between an accountant who’s evidently looking for ways to genuinely help and one whose main interest seems to be to increase their fees.
So as we start a new year why not resolve to look for ways to help your existing clients more and ensure that you make time to do this each week. The more you help your clients the more pleased they will be. The more they will recognise that you are not just a typical boring accountant. The more they will talk about you and the more new work will come your way from your clients and from the people that they know.