Building a Strong Consulting Practice
Rosemarie A. Fisher, CPA
June 2005 - NJCPA Magazine

The world of consulting holds a fascination for many CPAs, but what does it take to succeed? Although the subject is vast enough to fill many articles, some basic guidelines can put you on the road to a successful consulting practice. I have found that there are a few basic "must have" skills for consultants, and these attributes apply, regardless of the types of services provided.

Be a Good Listener
Above all, you must be a good listener. If you are always talking, you can't hear what the client is saying. Allow the prospective client to tell you what is wrong and what needs to be fixed. Consultants often will assume they know the problem and start addressing issues that are not even a concern to the client. When you meet with a prospect, ask questions that encourage the client to talk about his or her concerns.

In a first session, you might ask:

• What are the challenges you face in your business?
• If you could change one thing tomorrow, what would it be?
• What are your organization's strengths?
• How do you capitalize on those strengths?
• What weaknesses may be present in your organization?
• Where do you think improvements can be made?

While listening to the answers, you can determine whether your service offerings can address the issues and whether the prospect is a potential client for your type of consulting service.

Create a Win for the Client
Next, determine if you and the potential client are a good fit. Many consultants focus on winning the client, rather than creating a win for the client. Be sure that you can meet the client's needs before you take the next step. Successful consultants know when they cannot correct issues of concern - and do not engage in a relationship that is doomed from the start. Don't try to stretch beyond your abilities; you will only end up with an unhappy client.

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