There are millions of very small businesses, often operating out of owners’ homes, most of them with no employees. These companies, plus the nearly equal number of slightly larger ones, represent an enormous opportunity for accounting firms.

Fifty-five percent of these small businesses offer services, while only 11 percent sell products. In addition, 34 percent offer services and products.

These companies sell their services and products by referrals and networking—very much like CPA firms.

The same referral and networking systems that bring business to these companies can bring their accounting business to CPAs. The trick is to get involved in the same networks small business owners use. Find out where they meet and what they need. Make sure they understand your services.

From CPA Insider, February 21, 2006 (www.cpa2biz.com). For the complete article, click on the following link: https://www.cpa2biz.com/News/Columnists/ Telberg/Do+CPAs+Really+Understand.htm.