This is a mistake. This means there is no focus and without focus there can be no system.
Boston, MA (PRWEB) April 29, 2009
Mel H. Abraham is scheduled to be the opening Keynote presenter his much in demand program, "Influence, Impact & Income" at the annual conference of the National Association of Valuation Analysts (NACVA) on May 28, 2009 in Boston, MA. It is expected that more than 900 professionals will attend the program.
The number of CPAs in the country grows steadily every year according to the American Institute of Certified Public Accountants, yet more CPAs means more competition and lower rates for practicing CPAs unless they understand how to build their practice.
"Cut throat competition among CPAs in major metropolitan areas like Boston, MA is causing bidding wars to break out between firms and a commoditizing of the industry," says Mel H. Abraham, a frequent speaker, renowned consultant and president of Mel H. Abraham, Inc. and specializes in valuations and strategic coaching for businesses and individuals. (http://www.MelAbraham.com).
His top four recommendations for helping entrepreneurs, executives and business owners build their practice and generate more revenues are:
1. Automate your marketing system. Many times entrepreneurs, executives and business owners have a very limited amount of time, energy, and money when it comes to marketing. The key to success is in creating a system that works and then automating it. Make it a Daily Mode of Operation (DMO)," states Abraham. A marketing system includes specific goals and activities a professional commits to doing in the next 30-60 days. Common marketing activities include: going to networking events, speaking at a seminar, sending out client satisfaction surveys, or submitting an article.
2. Clearly define your target market. Abraham teaches that one of the worst things you can do is to not have a clear definition of their ideal target market-who they want to do business with. In a recent publication and survey 73% of those polled sated that they had no plans for specialization. "This is a mistake. This means there is no focus and without focus there can be no system.", he asserts. Your profile should include common demographics, specific needs and challenges, and their industry or profession. To thrive in today's economy requires one to gain distinction through mastery at a deep level. This can only be accomplished through a focused approach.
3. Focus on value. The Law of Economic Value dictates that a ll transactions in today's economy must be swap based on the value provided by each party to transaction. Whether you are an employee or a business owner, the market will require you to continually increase the value provided in order to allow you to increase the profits derived (or compensation paid). Too many times CPAs and professional have a misplaced focus on the past and the cost. CPAs by training are taught to consistently look at the past. However, the value is in the future and the past is only helpful to us to the extent is provides a path to the future or a path to avoid in the future. The average CPA focuses on billable hours instead of the value provided to the client. He recommends highlighting the value of the CPA's experience, background, certifications, unique experiences and sum total of all the accumulated business experiences when the professional meets with a referral source or prospect. This is the first step to differentiation in marketplace that is at risk of being commoditized.
4. Get your head straight. Many entrepreneurs, executives and business owners have a great idea, product or service yet do not have the proper psychology to successfully monetize the opportunity. Abraham says, "We tend to focus on the failures as failures and then search for folks we can blame rather than take responsibility for our contribution to the results, extract the learnings and make the shifts to continue on the path of growth and ultimately profits. This is the beginning of the psychology of success & peak performance."
About Mel Abraham and the "Influence, Impact & Income" Seminar
The "Influence, Impact & Income" seminar is led by Mel H. Abraham, author, award-winning speaker and renowned consultant with a Ventura County based business coaching, success and peak performance strategy firm. Abraham specializes in valuations and strategic coaching for businesses and individuals. He teaches service professionals, entrepreneurs and executives to become powerful business builders by applying proven marketing strategies, the proper success psychology and technological tactics for efficiency. He is a frequent speaker in the corporate, collegiate and nonprofit worlds. For more information, visit http://www.BusinessSuccessSensei.com or http://www.MelAbraham.com.