The importance of sustained growth

The-importance-of-sustained-growth
The-importance-of-sustained-growth

Everything comes from motivation, and this is especially true of marketing. To develop a marketing mentality you need to understand why it is necessary for an accountancy firm to grow and how to sustain that growth.

Once growth is under way it is easier to sustain it than to try to launch a fresh growth initiative whenever you hit the doldrums. A healthy rate of growth in the firm brings many advantages:

  • it creates greater income opportunities
  • it protects the firm from natural attrition
  • it lessens the firm’s dependence upon its largest clients
  • it provides a larger infrastructure enabling the firm to serve larger clients
  • it enables the firm to develop a broader service mix
  • it allows you more easily to control future developments
  • it creates opportunities for staff growth
  • it allays boredom by creating greater professional challenges
  • it allows the firm better to meet the competition
  • it extends the life of the firm

Above all else, a growth culture in a firm creates a positive future for everyone involved.

Sustained growth requires the following factors to be present in some form or other:

  • Good quality and broad service mix
  • Excellent rapport with existing clients
  • A positive firm image
  • Understanding the process of building a practice
  • Understanding and using your own marketing ability
  • An established referral network
  • Information on competitors and prospects in the marketplace
  • Available time for marketing
  • Sales ability
  • Prospecting ability and awareness of the client decision-making curve

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