101 marketing strategies for accounting, law, consulting, and professional services firms

289 Pages·2004·2.92 MB·English

by  Troy Waugh

Waugh 00 fm 3/22/04 10:43 AM Page iii
101Marketing
Strategies
for
Accounting, Law, Consulting,
and Professional Services Firms
Troy Waugh
John Wiley & Sons, Inc.
Waugh 00 fm 3/22/04 10:43 AM Page i
Praise for
101 Marketing Strategies
Not only is the book well-written and helpful to me, but I will ask all the attorneys
in my firm to read 101 Marketing Strategies.
William H. Lassiter, Esq., Managing Partner
Lassiter, Tidwell & Hildebrand, PLLC
Nashville, TN
In a marketplace full of books that take professional services marketing to the level
of rocket science, Troy Waugh strips out the rhetoric and delivers the professional
services guide to common sense marketing.Taking all the experience that he has
gathered over 30 years, Troy delivers a great collection of tips and ideas that can
help any professional services firm jump-start their marketing efforts.Every profes-
sional should read this book.
Gordon Lee, National Director of Marketing
BDO Dunwoody LLP
Toronto, ON,Canada
Troy Waugh’s latest book, 101 Marketing Strategies, is a must read in today’s com-
petitive world of selling professional services. Full of practical, results-based micro-
actions, 101 Marketing Strategies is not about gimmicks, but about the proven
effectiveness of building relationships and the discipline of process.
Bill Fingland, Managing Partner
BKD, LLP
Springfield, MO
Too often lawyers are too busy practicing law to pay enough attention to the busi-
ness side of their practice. That’s why 101 Marketing Strategies should be required
reading for all legal professionals, from sole practitioners to managing partners of
major law firms. Troy Waugh’s practical, no-nonsense approach to setting business
goals, building up and maintaining a lucrative client base, keeping employees
happy and outselling the competition really works!
By implementing the marketing recommendations in this book, I have seen pal-
pable improvements in my civil litigation practice. Having worked with Troy
Waugh for years, I know that his blueprint for marketing is based on his many
client successes. This is a book to be taken to heart by all professionals who are seri-
ous about building and expanding their businesses.
Robert L. Esensten, Esq.
Beverly Hills, CA
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I have known Troy Waugh for many years and have utilized his consulting services
for our firm. I have always found Troy to be very practical and results oriented. His
most recent book, 101 Marketing Strategies, continues his practical insight in as-
sisting professionals to understand the business development process.
Mike Kruse, Partner
Crowe Chizek, LLP
Nashville, TN
101 Marketing Strategies is an easy to read implementation model to develop and
convert prospects into satisfied clients.The book covers all the bases.A must guide
for professionals looking to expand thier business and personal horizons.
William F. Maye, President
Sullivan Bille, P.C.
Boston, MA
CPAs have struggled with selling since the dawn of their profession. Many CPAs
don’t see it as a struggle because they have yet to understand the power of being the
master of their own destiny. Troy Waugh is one of the very few people in this coun-
try with the knowledge and experience to inspire CPAs to market and train them to
become effective at it. In reading 101 Marketing Strategies, it impressed me as a
wonderful source for those searching for the “how to’s” of selling CPA services. I rec-
ommend this a required reading for anyone looking to become effective at bringing
in business. It’s equally suitable for seasoned partners as well as younger staff.
Marc Rosenberg
Chicago, IL
If you want to grow your practice the right way- this book is must reading for your
staff and partners!
Gary Shamis, Chairman
SS&G Financial Services
Cleveland, OH
Troy Waugh is one of the leading sales and marketing consultants to the CPA pro-
fession, and this book is a compendium of his years of experience, wisdom, judge-
ment, and tacit knowledge. By using the approach described herein, you will
actually achieve a competitive differentiation with your sales process, which will
undoubtedly be worth your investment. Learn from success and control your des-
tiny––read this book.
Ron Baker, author of Professional’s Guide to
Value PricingandThe Firm of the Future
I have just completed the book and cannot believe how many times I have gone back
to refresh my thoughts on marketing strategies.
Harry Wendroff, Managing Partner
Buchbinder Tunick & Co.
New York, NY
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101Marketing
Strategies
for
Accounting, Law, Consulting,
and Professional Services Firms
Troy Waugh
John Wiley & Sons, Inc.
Waugh 00 fm 3/22/04 10:43 AM Page iv
This book is printed on acid-free paper. ∞
Copyright © 2004 by John Wiley & Sons, Inc. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey
Published simultaneously in Canada
No part of this publication may be reproduced, stored in a retrieval system, or
transmitted in any form or by any means, electronic, mechanical, photocopying,
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Limit of Liability/Disclaimer of Warranty: While the publisher and author have
used their best efforts in preparing this book, they make no representations or
warranties with respect to the accuracy or completeness of the contents of this
book and specifically disclaim any implied warranties of merchantability or fitness
for a particular purpose. No warranty may be created or extended by sales repre-
sentatives or written sales materials. The advice and strategies contained herein
may not be suitable for your situation. You should consult with a professional
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Library of Congress Cataloging-in-Publication Data:
Waugh, Troy.
101 marketing strategies for accounting, law, consulting, and
professional services firms / Troy Waugh.
p. cm.
Includes index.
ISBN 0-471-65110-9
1. Marketing—Decision making. 2. Strategic planning. 3. Customer
relations—Management. I. Title: One hundred one marketing strategies
for accounting, law, consulting, and professional services firms. II. Title.
HF5415.135 .W38 2004
658.8'02—dc22
2003021210
Printed in the United States of America
10 9 8 7 6 5 4 3 2 1
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About the Author
Troy Waugh, CPA, MBA, is a leading author, speaker, teacher, and con-
sultant to the accounting industry. Troy helps public accounting firms
grow. He and his experienced team of consultants have helped firms add
more than $500 million in new business through their consulting, train-
ing, and alliance services.
Troy’s highly acclaimed book Power Up Your Profits,has received praise
throughout the world. It has been published in German and will soon be
available in Japanese. Troy’s articles have been published in Accounting
Today, The Practical Accountant, and numerous state society monthly
newsletters. He has been publishing A Marketing Moment with Troy Waugh
since 1992. He is one of the most sought after speakers on sales and mar-
keting professional services in the United States.
Troy is the founder of The Rainmaker Academy, the leading sales and
marketing training course in the United States and Western Europe. The
Rainmaker Academy is a three-year intensive sales training program
whose graduates have attracted over $300 million to their firms during
the classes.
He received an MBA in marketing from the University of Southern
California and a BS in accounting from the University of Tennessee.
Troy was an audit manager with PriceWaterhouse & Co., where he
worked six years in their Nashville and Los Angeles offices. During his
years with PriceWaterhouse, Troy was active in the Los Angeles Junior
Chamber of Commerce and many other activities.
In 1975, Troy became Chairman and Chief Executive Officer of Ad-
vantage Companies, Inc. During his eight years with Advantage, Troy
guided a complete repositioning of the company’s focus away from the
budget motel business into magazine publishing. During this period,
Troy negotiated over 40 acquisitions or divestitures of businesses.
In 1984, Troy became a Vice President with Jacques Miller, Inc., a real
estate investment firm. He was promoted to Senior Vice President and
National Sales Manager during his years with Jacques Miller, Inc. Due to
theTax Reform Act of 1986, Troy was instrumental in repositioning the
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About the Author
company away from tax-advantaged real estate in 1987 into high yielding
health-care real estate and again in 1989 into real estate management.
He is a member of The Advisory Board, a national consortium of lead-
ing consultants to the professions, the National Speakers Association,
The American Institute of CPAs, and The Tennessee Society of CPAs.
Troy Waugh may be reached at:
The Rainmaker Academy
4731 Trousdale, Suite 12
Nashville, TN 37221
phone: [phone]
email:[email protected]
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Our Team
Charles Flood
A professionally trained educator and businessman, Charlie has been on
the front lines in sales, general management, and professional consulting
for the past 20 years. His experience comes from work with national and
local accounting firms, and in national sales management with a Fortune
500 company.
His academic credentials include a BA in education, BS in sociology,
and a MEd with an emphasis on Educational Leadership Development.
In addition, Charlie is certified to facilitate a number of professional de-
velopment courses. Charlie’s background, experience, and perspective
bring an added dimension to the Rainmaker team of professionals.
Graham G. Wilson
Graham G. Wilson believes in the power of marketing and sales in public
accounting. He joined The Rainmaker Academy in 1996. Over the past
20 years, he has combined extensive international content knowledge
with outstanding facilitation skills to enable CPA firms, departments, and
individuals to increase their marketing and sales effectiveness.
As a former client partner with Franklin Covey and as Director of
Training for the largest local accounting firm in Chicago, Graham has
unique insight into the development needs of accountants. Graham is a
frequent speaker and program presenter for the Illinois CPA Society, and
for many national and international accounting firms.
Graham holds both bachelor’s and master’s degrees from Southamp-
ton University, UK. Born in England, Graham moved to the United States
in 1993 and became a U.S. citizen in 1997.
Patrick Patterson
Patrick is a professional trainer and facilitator with more than 10 years of
experience in people and process development. Participants consistently
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Our Team
rate energy, enthusiasm, skill, and insight as hallmarks of his presenta-
tions. He brings expertise in the area of quality and continuous improve-
ment.
Patrick’s background includes eight years in Continuous Improve-
ment at Arizona State University and three years as a training and devel-
opment consultant for Las Vegas, Nevada, resorts. He holds a bachelor’s
degree in communications from Brigham Young University. Patrick is a
past Director of Professional Development (Las Vegas/Tucson Chap-
ters), American Society for Training and Development.
Kevin Poppen
Kevin is Chief Operating Officer of the Enterprise Network and is re-
sponsible for the day-to-day operations. Kevin serves as the primary con-
tact for the members, challenges them to think about their future, and
helps them adopt strategies that will enhance their profits, owner value,
and professional satisfaction.
Kevin comes to Enterprise Network from the RSM McGladrey Net-
work, where he spent over seven years serving their membership. He
filled a variety of roles, including member service, recruitment, and train-
ing on McGladrey & Pullen’s audit and accounting guidance materials.
Before joining the McGladrey Network Office in July 1995, Kevin
served on the audit and accounting team in McGladrey & Pullen’s Mo-
line, Illinois, office.
Scott Bradbary
Scott joined Waugh & Co in January 2003 as Director of Training for The
Rainmaker Academy. He is a professional educator and curriculum spe-
cialist who will be working on the continued professionalism of the Rain-
maker training materials. His background and research into learning
styles, multimedia instruction, organizational health, and sense of com-
munity is a valuable addition to the Waugh & CO team.
Scott was a public school teacher for seven years before returning to
graduate school at Vanderbilt. He is currently completing his doctoral re-
quirements at Peabody College of Vanderbilt University in curriculum
and instructional leadership. He served as an instructor at Vanderbilt in
the College of Education at the undergraduate and graduate levels. He is
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