Does Success in New Business Development Mean Working After Hours?

Source: Accounting Today

Mark Rosenberg, The Rosenberg Associates, Wilmette, IL, did a survey asking managing partners’ opinions on this question. Eighty percent of the respondents believe that an accountant can be a good business developer (but might not be a rainmaker) working from 8 to 5 if he or she occasionally works after those hours.

Rainmakers, on the other hand, may regularly include business activities in their social lives.

Accountants who believe practice development can be conducted primarily during regular hours say that:

·    A firm can achieve double-digit growth with partners working regular hours.

·    Half of new work is with existing clients, and firms often pay little attention to the enormous potential there.

·    There isn’t time for an accountant dedicated to his or her family to pursue after hours marketing activities, and it isn’t necessary. One accountant said she has a book of $1.3 million without working evenings or weekends.

Those who believe in working during regular hours and after hours say:

·    You must be available when the clients or prospects are available.

·    A real practice developer works 24/7.

·    Half your effectiveness comes after hours.

·    Many activities such as board and organization meetings are held in the evening. But lunches should be reserved for practice development rather than for co-workers.

Those who believe most practice development must be conducted after hours say:

·    Clients and prospects are too busy during the day.

·    Relationships are promoted at civic, social, and fundraising events.

·    Being visible is crucial. Eighty percent of practice development is after hours.

People holding one view should be empathetic with those holding another view, and both sides should listen to each other. Those who work regular hours might follow the practice of reserving lunch and breakfast time for business development. Rainmakers may need to ply their trade after hours, and their efforts should be recognized by others, but rainmakers should respect the contributions of those who work regular hours effectively.

From Accounting Today, May 2, 2005. Click on the following link for the complete article:

http://www.webcpa.com/article.cfm?articleid=12818&;pg=acctoday