Proposals

Source: CPA Marketing Report

Here are some tips that have helped firms increase their successes significantly:

·    Don’t think your proposal has to be short.

·    Meet with a prospect several times before you prepare the proposal.

·    Analyze the prospect’s financial statements. Prepare a comparison of key performance indicators with industry benchmarks.

·    Include curricula vitae on your people who will serve the client.

·    Don’t make any assumptions about the client’s needs until you have found out what those needs are. For example, don’t bring a management or human resources consultant to the initial meeting as it may be threatening to someone in the firm.

·    Conduct a post-proposal interview, whether you win the client or not.

·    Your engagement team should match the prospect’s management. For example, if the management team includes women, your engagement team should include women.

·    The more you know about the prospect company before the proposal, the better.

·    Compatibility of personalities may be more important than technical ability. In other words, select the engagement partner whose personality is best attuned to that of the client.

·    Relationships with multiple referral sources can be crucial. When a banker and an attorney both recommend your firm, your chances of winning are almost assured.

For the complete article, see CPA Marketing Report, February 2005, pp. 1 and 6.