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12 Oct 2011
IS IT just me or do things seem to be getting a bit easier? It feels like hibernation time is over and the time for growth, expansion, and diversification is here.
For the past couple of weeks we have started to seriously look at ways how we can expand the practice by reaching new markets, offering new products and services, as well as a total rebranding exercise. Reaching new markets basically involves us increasing our networking activity and making contact with new potential referrers.
Most of this will obviously not turn into business but all it takes is one good relationship to flourish and it's happy days. I'm currently focusing on making some new contacts within law firms in an attempt to try to get some corporate finance work from them. There seems to be a certain mystery surrounding corporate finance work.
The truth is that it's not that difficult, and it pays more than it should. Not that we're complaining. I've been doing my part by passing on work to a local law firm but nothing has come back our way. Yet. I'm sure it's only a matter of time...
When it comes to offering new products to clients, new and existing, it comes down to marketing. We are looking at rehousing all our bookkeeping, payroll, and VAT work.
Giving this a hole new name and image will hopefully help us to target a new audience for this type of service as well as being able to separate it from the main practice to allow the it to concentrate on the high level work that it really wants to be doing. We have toyed with a few name ideas for the payroll/VAT offering but it's difficult to avoid making it sound like a kids toy or a new fizzy drink.
If we choose a name that sounds too accounting-like then that defeats the object of rebranding it in my opinion.
Answers on a postcard please.
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Visitor comments Add your comment
core message is key
Never under estimate the power of a name - Richard Branson didn't!
Working exclusively with accountants for the last 9 years I would agree with your determination to get the name right for your new 'service' offering. It is something I have doe with a number of firms in recent years and suggest the following process:
1. write down everything about the service and the customers you wish to serve and most importantly the payoff you'd be most proud of (from your customers perspective). Write pages - make it long, avoid editing it, let it flow out
2. look for a core message which keeps cropping up throughout your writing
3. play around with core messages that appeal to you and you think will appeal to your target customers. Some examples
- a sincere commitment to growing your practice
- inspiring; challenging; supporting
- making your success our business
4. name your service or firm offer
The more people in your firm you get involved the better. It is a messy creative process so be wary of being to 'accountant' like in its execution. Don't be in too much of a rush and...
And good luck.
Warm regards
Paul shrimpling
www.remarkablepractice.com
Posted by: paul shrimpling, 17 Oct 2011 | 17:21