• Save
Building and Growing a Niche
Upcoming SlideShare
Loading in...5
×
 

Like this? Share it with your network

Share

Building and Growing a Niche

on

  • 194 views

In Spring 2012, I was invited by CPAmerica to co-present with other marketing directors and accounting professionals at the Central/Mountain Partners meeting (Dallas) and the Northeast Partners ...

In Spring 2012, I was invited by CPAmerica to co-present with other marketing directors and accounting professionals at the Central/Mountain Partners meeting (Dallas) and the Northeast Partners meeting (near Baltimore). The subject of both presentations was building and growing industry niches within an accounting firm.

Statistics

Views

Total Views
194
Views on SlideShare
185
Embed Views
9

Actions

Likes
0
Downloads
0
Comments
0

2 Embeds 9

http://www.linkedin.com 5
https://www.linkedin.com 4

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Building and Growing a Niche Presentation Transcript

  • 1. Building andGrowing a Niche Joe Kovacs, APR Marketing Director May 18, 2012
  • 2. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting Overview• What is a niche?• Starting a niche (collecting information)• Executing a niche (responding to information)• Evaluating a niche (evaluating the response) 2
  • 3. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting What Is a Niche?• A strategic industry- or service-focused initiative to meet business development goals• Should incorporate competitive differentiators, range of service capabilities, business/marketing plan, reporting and ongoing evaluation• Outgrowth of a firm’s strategic plan 3
  • 4. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting Starting a Niche• Internal environment• External environment• Situation analysis• Goal setting 4
  • 5. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting Six Internal Steps1) Management support2) Research past successes and failures3) Communicate benefits of niche building 5
  • 6. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting Six Internal Steps (cont.)4) Nonprofit team building with full service capabilities • Nonprofit audit – Terri McKnight, CPA • Nonprofit tax – Stephen J. Kelin, CPA, JD • Grant compliance – Andreas Alexandrou, CPA • Employee benefit plan audits – Jackie Oneto, CPA • Temporary controllership – Ian Shuman, CPA • Fraud detection – Caroline Cheney, CPA, CFE 6
  • 7. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting Six Internal Steps (cont.)5) Professional Certifications• AICPA Employee Benefit Plan Audit Quality Center• Certified Fraud Examiner (ACFE)• QuickBooks ProAdvisor 7
  • 8. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting Six Internal Steps (cont.)6) Roles and responsibilities • Speaker – Trevor Williams, CPA • Writer – Terri McKnight, CPA • Rainmaker – Bob Albrecht, CPA • Business development / marketing lead – Joe Kovacs 8
  • 9. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting
  • 10. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting External1) Read trade publications, join industry groups and meet influencers2) Industry trends3) Client identification (revenue, size, geography) 10
  • 11. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting Situation Analysis1) SWOT analysis • Strength - Well-known in the niche • Weakness - Competitor “owns” the market • Opportunity - Competitive differentiator • Threat – Competitor hired a business development professional 11
  • 12. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting
  • 13. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting Situation Analysis (cont.)2) Competitors3) Current market trends and conditions4) Current ability of the firm to compete5) Impact of niche on firm operations • Realignment of resources 13
  • 14. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting Goal Setting• Set realistic but ambitious expectations • Short-term tactical vs. longer-term revenue goals• Benchmark against prior success rates plus additional projections from niche planning 14
  • 15. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting Executing A Niche• Strategic/business plan: use strengths and resources to overcome weaknesses• Build industry relationships• Distribute news and examples of expertise (website, alerts, mailings, social media)• Presentations, webinars and published articles 15
  • 16. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting
  • 17. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting Executing A Niche• Networking• Referral requests 17
  • 18. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting Niche Materials• Online and printed marketing materials• Forms, surveys, registration flyers• Prospects and database• Reporting capabilities 18
  • 19. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting
  • 20. Building and Growing a Niche CPAmerica International: Central/Mountain Partners MeetingMonthly Revenue Report
  • 21. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting Strategic/Business Planning• Marketing budget• Measurement metrics 21
  • 22. Building and Growing a Niche CPAmerica International: Central/Mountain Partners Meeting Niche Evaluation• Ongoing evaluation/ quality control processes• Incorporate new discoveries 22
  • 23. 4550 Montgomery Avenue, Suite 650N • Bethesda, MD 20814 Connect with Us Joe Kovacs, APR Email: jkovacs@grfcpa.com Telephone: (301) 951 – 9090 Website: www.grfcpa.com Visit: