How Does Ferrari Do It?

Jan 5th, 2009 | By | Category: Building Your Reputation, Featured Articles, Marketing Professional Services, Practice Building With Backend Sales

As most of my regular readers know, I’m an old, tired and ugly retired accountant. This internet blogging thing is sort of new to me, so I wander around looking for the wisdom of the gurus and try to distill some of it every now and then into something that will make me look brilliant and worthy of being listened to.

So, earlier today I was checking out the competition … you know, all the other blogs on how to market bookkeeping, accounting and tax services that I could find, and I stumbled across Ric Willmot’s blog ( http://www.ricwillmot.com/ ) and was struck by his quote from Ferrari President Luca di Montezemolo who said that he expected to find 6,000 people crazy enough to buy a Ferrari in 2009.

Ric went on to point out that when value was the point, a limited number of customers would find the money to acquire the product or service. There might not be as many as in other times, but there would be enough to help some firms have their best year ever, as Ferrari did in 2008.

How can you build value in your local bookkeeping, accounting or tax practice?

As usual, there are several ways, you just have to identify the methods that fit with your personality and energy levels.

One truism that isn’t really mentioned a lot, outside of lectures from your mom and dad is that you are known by the company you keep. You don’t see Ferrari hanging out at CarMax now, do you?

So, who are you hanging out with? How are you positioning yourself as a value services provider, worth the extra fees you want to charge? Do you meet with and consult with the top professionals in your community, or do you hide in your office with your eyeshade pulled down to hide your eyes from the glare of your CRT?

Me, I’m just starting this blogging thing, but I’ve already started trying to find the top experts in the practice building field, and reading what they have to say, learning from them and passing it on to my readers when I can.

You can do it locally. Meet your banker, your local civic authorities, leaders of clubs and civic organizations. Ask their advice, find out what your target market is asking them for, and tailor that information to your own communication. Learn who to talk to and who to hang out with, and when you deliver a value product, prospects who are seeking a value services provider will find you.

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  1. Amazing…guess Mr. Ferrari man knows of what he speaks.

    And out here in the wild ,wild interweb, millions of us are killing ourselves convincing, promoting, blogging, giving away our reports and whatnot, and all for a few measly bucks. Go figure…

    Ooo, good stuff. I better stop hanging around with the usual riff and raff. Seriously, you make some very good points. I stopped working in my local market over year ago–guess it’s time to revisit this untapped wealth of resources for potential income. Onwards!…

  2. Kirk,

    I like the ideas but try to give yourself more credit. You are not old, ugly, or anything negative. The idea of being a little open or friendly is good but you must give yourself more credit. I was born in 35 and I’m still working. Right now I’m preparing to renew my EA status because I was oversea for a while and I came back too late to prepare for the exam or compliance.

    Change the setting to “I’m the greatest…and so on”

  3. Understand completely Edwin. I got started on the “Old, Tired and Ugly” as an experiment about fifteen years ago when the “Hello, how are you?” greeting I got from many suck-up business associates began to get irritating as soon as they started in to a conversation without listening to a reply. I started doing it to see if anyone was listening. Knowing that folks weren’t listening for a reply, and actually seeing how many did not realize what I had said was so amazing, I just kept doing it and it has become an ingrained habit or test. I am good. One of the best at what I write about. But, old habits die hard.

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