Early in my career, my boss, and then business partner, Chris Frederiksen, taught me a simple phrase that has stayed with me:
“Business is great, and we’re looking for more.”
It was his stock-standard response whenever someone asked, “How’s business?”
It didn’t matter whether we were experiencing a quiet month or were completely under the pump. The answer remained the same. Business was great, and we were always open to more.
That phrase reflected an important business principle: growth is the lifeblood of a healthy firm. Growth might mean attracting new clients, but it can also mean expanding relationships with existing clients, introducing new services or finding better ways to solve the challenges they face.
Chris’s response was effective because it did more than answer the question. It planted a seed.
The person asking immediately understood that the firm was doing well, but also that it had the capacity and appetite to help others. It prompted a natural thought:
If I hear of someone who needs help, I’ll send them your way.
There was no hard sell and no awkward request. It was simply clear, confident language that kept the firm, and the opportunity to refer it, top of mind.
What Is Your Language Saying About Your Firm?
As we begin to say goodbye to summer and head into year-end tax planning, followed quickly by tax season, many accounting firms will become increasingly busy.
When workloads rise, the language firms use can unintentionally tell the market that they are closed to new opportunities.
“We’re slammed.”
“We don’t have enough people.”
“We can barely keep up.”
These statements may be accurate, but they can also discourage potential clients and referral partners. They suggest the firm is unavailable, even when it may still be interested in the right clients or opportunities.
Being busy does not mean a firm should stop thinking about growth. In fact, sustained growth requires firms to remain visible and proactive throughout the year—not only when the pipeline begins to look thin.
That is where a more formalized approach to referrals can help.
Formalizing referrals does not require a complicated incentive program or an automated campaign. It starts by making referral conversations an intentional part of the client relationship.
Firms can:
- Clearly explain the types of clients and engagements they are looking for.
- Ask satisfied clients whether they know someone who might benefit from the firm’s help.
- Provide examples of the problems that should prompt someone to make an introduction.
- Create regular referral opportunities at natural points in the client journey.
- Thank referral partners and keep them informed when an introduction is made.
The easier it is for someone to recognize a good referral, the more likely they are to make one.
“Please keep us in mind” is vague. “If you speak with a firm struggling to hire enough tax professionals before the next tax season, we would appreciate an introduction” gives people something specific to listen for.
At MoneyPenny, business is great—and we’re looking for more.
We are grateful for the trust our clients place in our team and proud of the relationships we have built with accounting firms across the United States. Those relationships have helped MoneyPenny grow, and we would welcome the opportunity to support more firms facing similar capacity challenges.
If you hear about an accounting firm struggling to hire or retain people, keep up with tax preparation, expand its CAS offering or create more capacity for its existing team, we would be delighted if you dropped our name or made an introduction.
You do not need to explain everything MoneyPenny does. A simple comment such as, “I know a team that may be able to help,” is often enough to begin a useful conversation.
Many of our clients will also be attending accounting conferences and industry events this fall—including several events that the MoneyPenny team plans to attend. You can find the list elsewhere in this newsletter.
If you are sitting at lunch, attending a session or catching up with colleagues and hear someone talking about staffing shortages, retention problems, tax-season pressure or an inability to take on new work, please think of us.
And if no referral comes immediately to mind, there is another small way you can help: follow MoneyPenny on LinkedIn and engage with our content. A follow, comment or share helps strengthen our visibility and credibility in an increasingly crowded marketplace—and makes it easier for the right firms to discover us.
Growth rarely happens because of one grand gesture. More often, it comes from consistently planting seeds, starting conversations and making it clear that you are ready to help.
So, how’s business?
Business is great—and we’re looking for more.
