GMAP PODCAST WITH Micky Deming: Ep. 18

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Show Summary

Micky Deming joins Mike Michalowicz, Chris Curran, and Ron Saharyan to teach us how to run a virtual bookkeeping business. Welcome to Episode 18 of the Grow My Accounting Practice Podcast!

Our Guest 

Micky Deming

Micky Deming is the Director of Marketing at Kahuna Accounting, co-founder at TREPX Group and host of the TREPX Podcast.

He helped Kahuna Accounting grow from 0 clients and 0 revenue to over 200 clients and $480,000 in annual recurring revenue. He comes from a journalism background and has used that expertise to translate to marketing success with content marketing, interviews, storytelling and clear, simple communication.

Show Quotes 

If you’d like to consider becoming a virtual office, you have to fully commit to being virtual. Then you can find the right tools to build your platform on which provides you with the right resources to get you going.

The beauty of working virtually with clients is that you can get the work done for them no matter where they are located.

Trust is the biggest obstacle to overcome. You want to focus on building trust with people in a virtual environment. Zone in on a specific niche – once you start making connections it will lead to referrals to other people and create a chain of professionals who know you are good at what you do. You can also form trust with clients through educating them; because they’ve heard a consistent, clear message from you they are more inclined to trust your judgement.

Attend events and conferences! It’s the perfect opportunity to meet people who could be potential clients and to meet face to face with your existing clients.

Who are the influencers in your niche? Find out and connect with those people!

Consider making the investment in systematizing software. It will take some time to set up but will save you so much in the long run – you will notice the difference it makes for you very quickly.

Virtual relationships with clients can provide an extra sense of security for them, because you only have access to what they give you access to. If a potential client is putting up a big fight about having a virtual vendor, don’t fight them on it – odds are they are not a good fit for you.

Communication is key. Get excited about what it is you do, but also listen to what your customers want. Get out of your own head and your own office and ask questions. Building relationships and talking to people is the best way to grow.

 

The Psychology of the Sale: the Law of Reciprocity

People are hardwired to respond in kind when something given to them. They are also more likely to be hurtful to you if you are a jerk to them. Giving to get is a good way to improve your chances of landing a potential client. Why does this work? We store these favors subconsciously and we are compelled to repay the favor; we are conditioned to be this way from early on in our childhood to repay favors. However, if you use reciprocity as manipulation it will work against you. People do not like the feeling of being owned or owing someone. When you meet a prospect, provide them with a small/unexpected token of appreciation – maybe send them a thank you card or a small gift, or an article of interest they may like. Your genuine appreciation for them will be reciprocated with more appreciation for you.

GMAP Now Task

Vendors. List all the vendors that you currently work with. Go through all of them. Call them and tell them what your corporate goals are (what you’re looking to do for your business). Then ask them how they can give you guidance to help you, what can they do for you to achieve those goals. TRY IT. The only way to get the result is to TRY IT.

 

Show Links

www.kahunaaccounting.com

www.trepxgroup.com

 

Corporate Partners

Nextiva – VOIP phone providers for small businesses.

Fundera – Single source online funding for entrepreneurs. Also offers an adviser program for CPAs, bookkeepers and business coaches.

TSheets – The #1 customer rated time tracking solution!

Fundbox –  the simplest and fastest way to fix your cash flow by advancing payments for your outstanding invoices.

Mike Michalowicz
About the Author
Mike Michalowicz
By his 35th birthday Mike Michalowicz (pronounced mi-‘kal-o-wits) had founded and sold two multi-million dollar companies. Confident that he had the formula to success, he became an angel investor… and proceeded to lose his entire fortune. Then he started all over again, driven to find better ways to grow healthy, strong companies. Among other innovative strategies, Mike created the Profit First formula, a way for businesses to ensure profitability from their very next deposit forward. Mike is co-founder of Profit First Professionals an organization of member accountants, bookkeepers and experts (apply to become a member yourself) who drive profit for their clients using the Profit First method. Mike is the author of Profit First, The Pumpkin Plan and The Toilet Paper Entrepreneur, which BusinessWeek deemed "the entrepreneur’s cult classic."
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BOOKKEEPERS! ACCOUNTANTS! GET IT NOW...
THE 10 WAYS TO GET MORE, PROFITABLE CLIENTS
GET NOTICED
BE A TRUSTED ADVISER
GET EFFICIENT
GENERATE MORE PROFIT
GET HIRED
MAKE MORE SALES
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BOOKKEEPERS! ACCOUNTANTS! GET IT NOW...
THE 10 WAYS TO GET MORE, PROFITABLE CLIENTS
GET NOTICED
BE A TRUSTED ADVISER
GET EFFICIENT
GENERATE MORE PROFIT
GET HIRED
MAKE MORE SALES