Marketing in a Rural Area

CPA in Rural Area of Ohio

Goal:

Rapidly grow a CPA practice in a rural area from scratch with limited resources.

Background:

Martha is a CPA and wanted to start a practice in a rural area that is 65 miles from a metropolitan city.  Her experience included a blend of corporate finance and public accounting.  Since she had been out of public accounting for ten years and that experience was in California, she was effectively starting a public accounting practice from scratch. 

Martha found BYF from an internet search and asked if we could help her develop a new practice from scratch targeting her niche, medical and dental practices.  Her goals were to avoid low paying and time consuming services like write-up and payroll, and leverage technology to maximize efficiency and realize an attractive hourly fee. 

To attract medical practitioners into her new practice, Martha’s plan was to provide seminars for doctors and dentists on practice management and financial management. 

To fund Martha’s new practice, she initiated the process to secure a loan. 

Results:

Shortly after registering BYF’s Practice Development program, Martha’s bank turned her down for a loan.  She immediately cancelled her plans to attend BYF’s program, put the plans for a new practice on hold, and considered searching for job about 65 miles away. 

To help Martha’s job search for per diem work, BYF contacted a BYF alum, Jeff Donohoe with J Donohoe & Associates, about considering Martha given the situation.  He agreed to immediately give it consideration and requested her resume. 

In the meantime, Martha evaluated her options, chose to attend BYF’s program at the urging of her family and proceed with her own practice on a “shoe string” budget.  

After five weeks of actively implementing BYF’s program, Martha has acquired $72,000 in new business.  In just five weeks, she acquired 24 business clients.  With the selling approach that BYF provided, Martha’s close ratio is now 77% and her confidence grows with each appointment. 

Now that a base level of business clients has been secured (all with $100k+ in sales), she can consider focusing against her niche of medical and dental practitioners. 

After two years, Martha's practice is now generating over $250,000 in fees. 

Below is what she had to say:

“BYF’s program provided me with the tools to quickly ramp up my practice while realizing an attractive hourly fee.  I have avoided time consuming write-up and payroll services.  Their process absolutely works.  I am so glad that I attended BYF’s program and highly recommend it.  Thanks for encouraging me to attend the BYF program.”

Note - Martha was featured in the Journal of Accountancy about her experience starting a new CPA practice. 

PRACTICE DEVELOPMENT COACHING FOR ACCOUNTANTS – If you would like to operate at a higher level, call BYF at 888-999-9800.