A “Rainmaker’s” Three Legs

Practice Building Needs A Solid Foundation

Over the years I’ve had a little time to study what folks do to market their business. In the “professions,” it always comes down to three important factors. I’ve started calling them the “three legs” of being a Rainmaker, because without any one of the three, your practice building effort is most likely going to fall flat on its face, and you’ll be lucky if you merely land on your tushkit.

Thes three factors can easily be summed up as becoming recognized as an expert, building a loyal and active referral network, and building client retention and stickiness.

As you start your practice building, whether you’re on your own, or are part of a larger firm, you’ll find that each of these three factors has its own tools and functions, but has to mesh with the others, just like a well honed team.

While all the tools and resources I offer for sale on this website are designed to enhance your efforts in any one of these areas, I have to admit that you don’t need to buy my stuff in order to build your practice. But, if you’re the slightest bit strapped for time, they sure as hector will give you an easy way to kickstart your practice building. So, keep them in mind as time goes on.

Meanwhile, it probably will make more sense why I offer the products and services I do, if I start doin’ some ‘splainin Lucy.

Let’s start with being recognized as an expert. You can do that through public speaking, getting published, becoming a teacher or coach, or even being quoted in the media. All things you have probably heard about and should be doing. There are some nuances that will enhance this leg of your marketing. For example, if you don’t have a professional website of your own, in this day and time, you certainly won’t be regarded as a professional, which means you’re certainly not an expert.

I’m sure you also want to, or are trying to, build a referral network. But, what’s involved there? Have you given your potential networking partners a reason to refer their friends, neighbors and business clients to you? Have you “given” before you asked? There are steps and procedures you’ll want to know how to implement, and you’ll want to implement them in the right sequence, with the right tools, before you break that leg of your marketing program. Once this one is broken, it may never heal.

And finally, you’ll need to work on getting clients to stick. Did you know that the industry average for the life of an accounting client with a practitioner is only five years? But, if you use specific methods to increase wallet share, you could easily double that!

Stay tuned here, and visit regularly. These are the topics I’m going to be writing about as I get started on a regular posting schedule. Or, even better, subscribe to the RSS feed at the top of the web page. You can also help by bookmarking or sharing this site and this post by clicking on one of the “social” links at the top of this post.

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And, let’s stay in touch!