Greetings from Arizona. We spent five months in beautiful Palm Springs and needed to move out before we grew roots! The RV is parked just outside of Mayer where we will be taking in the sights of Prescott, Sedona, and Flagstaff.

I hope you found our last conversation about using writing to build your authority AND deciding what to write about to be useful. If you’re smart about it, writing can mostly be a matter of answering questions about your practice – what you do … how you do it … and why you do it. And that’s what your audience really wants to know.

On to this week. One of my “audience participation” questions asks: I get most of my new work from social networking, LinkedIn in particular. What would you want to know more about using social media to expand your practice? I ask this question because it’s not just me profiting from social media. Others are on to it, too.

And if you’re new to the blog, welcome aboard. This is what we do!

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I read two interesting stats about video in two different days from two different sources. 1st – 75% of content currently consumed online is video. 2nd – by 2019 that figure will rise to 80%.

My take: YouTube is the world’s second largest search engine. Here are two search requests that are happening right now. Alexa, find a video that explains why I need a business valuation. Siri, find a video that explains how a medical practice is valued. You may not believe me, but if you don’t get into video, you will be left behind. It’s one of the reasons I started a YouTube channel (after months of dithering) and, trust me, I am late to the game.

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Social networking. LinkedIn content. YouTube video. It’s all part and parcel of the social media fabric. And you’re on the sidelines.

The accounting and BVFLS professions are similar enough that you can assume what’s going on in the former is happening in the latter. And so I knew I needed to share this recent article that discusses how some accounting firms are staying relevant and competitive in a rapidly changing environment and what’s hot and what’s not in accounting firm marketing.

As it relates to the intersection of social media and “what’s hot,” here is a compilation of what a few accounting firm marketers said.

• ‘Always On’ Business Development
• Video Marketing and Social Media
• Marketing Automation
• Data-driven Marketing Strategies
• Fun Social Tools to Boost Engagement
• Digital Fills the Pipeline
• NextGen Client Experience
• Digital Communication Tools
• Content That Illustrates Expertise and Solves Problems

Bottom line: here is more evidence that more professional service firms are using social media to find leads and engage with prospects, clients, and referral sources.

So what

I get that you may be undecided about social media … or that it may not be your thing (even if it does work). Stories range from social media being a time suck to a game changer.

Smart BVFLS people on both sides of the fence are avoiding and embracing social media. That said, social media is a tool, and like any tool, you have to invest some time and effort to learn how to use it properly.

Think about how much you invested to master the tools that help us do the work – Word, Excel, CAPM, WACC, CCF, DCF, DLOM. Are you willing to do the same for the tools that can help you get the work?

In real life

At the beginning of this post was my audience participation question. Here is what one person asked me in a recent email.

So on social media – is there any 1 or 2 things you do or is it the composite of all that you think drives business your way? And of all the things you do, if you had to rank them from 1 (most important/most effective) what would that look like.

Here was my response, as it pertains to my LinkedIn efforts.

#1 – Only connect with people who can send you work – not other BV people (follow them instead).

#2 – Connect people in your network to each other – be a matchmaker who will be remembered for the thought and effort.

#3 – Don’t sell – educate and inform your audience about events going on in their business worlds that will impact their business valuations.

#4 – Like, comment, and share what other people in your network post – because you want them to like, comment, and share what you post.

#5 – Give and get recommendations for services and endorsements for skills.

Reading that can help

Better bait boosts BV biz from the March 28 issue of BV Wire, which references and cites the next article …

Marketers Prepare to Act as Change Agents for their Firms in 2018 from the March 20 issue of INSIDE Public Accounting.

Cheers!

 

 

 

PS – I’m a fan of actionable ideas that move you forward, so I hope you find this content useful. If something resonates and you want to reach out directly, you can email me or schedule a call with me!

PPS – If you think we share common interests, connect with me on LinkedIn. If you like my blog, please recommend it to a colleague.

Well, as you can see, this “newsletter” looks a little different.

Back in mid-January, I said one of my Q1 goals was to move the newsletter to my website’s blogging platform. While I’ve been ruminating on this for many months, it only took me one month to actually execute.

Yes, a lot of work. But the advantages to you are that:

• All of my 126 past newsletters will be available in one archive
• And be searchable using subject categories or keywords.

If you want to continue reading via email, you don’t have to do a thing.

If you use an RSS reader like Feedly, you can grab this blog at http://rodburkert.com/feed.

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So based on our last conversation regarding the Burkert Valuation Advisors “About” page that I insert into my valuation reports and engagement letters, how many of you have adopted that tactic or something similar to create a gentle plug for your practice? From the feedback I received it appears many of you will are embracing the tactic. Here are some of the comments I received:

• I like this idea and intend to borrow it.
• THIS is fantastic. Implementing today. Thank you.
• This idea is priceless – thanks!
• I really like the About page idea. May have to steal that one.

On to this week. In one of my February LinkedIn/YouTube videos, I talked about how I use writing to build my authority. I talked about how much I write, who I write for, and when I get it all done. But apparently I left this big question unanswered: HOW DO I DECIDE WHAT TO WRITE ABOUT?

And if you’re new to the blog, welcome aboard. This is what we do!

Deciding what to write about

If you’re thinking of starting a regular BVFLS newsletter or blog, probably the biggest hurdle you’re imagining is, “What do I write after, like, week three?”

But actually, the answer to that question is quite easy. You should be writing about topics that demonstrate your particular area of expertise … and what you want to be known for.

Still uncertain what to write about?

Then, specifically, how about this …

What the FAQ!

Write out the answers to the 10 most frequently asked questions you get about the work you do in your practice area or industry niche.

Then, write out the answers to the 10 most should be frequently asked questions about the work you do in your practice area or industry niche.

Starting out this way, you’re not actually writing. I mean you are … but it’s more like having a conversation with an invisible lead or prospect whose questions you’re answering. Your answers will answer their real questions:

• Who are you?
• What do you do?
• Why should I call you?

Do this exercise before you launch your newsletter or blog. If you write weekly, you’ll have 20 weeks worth of content “in the can” before you need to write anything new.

As you release your missives, your audience will reach out to you … asking you questions about what you wrote … which begets more answers that you can write about … and you have the momentum you were looking for.

And if you’re skeptical that this whole FAQ thing will work, one of my coaching clients wrote a book, Business Valuation for Business Owners, based primarily on tracking and answering questions his leads, prospects, clients, and referral sources asked him.

In real life

Of course, everyone’s audience is different and figuring out how to write something that will connect with them, week in and week out, can be challenging. But answering their questions, first and foremost, is a great way to get started.

Beyond content, length, format, frequency, voice (tone), and even the day/time you send it out are important considerations for creating an interesting and engaging newsletter or blog.

And it’s all part of the fun of experimenting with the new “media property” you now own.

Last, be committed to the process. Schedule time for your writing on your calendar. Treat it like a client appointment – something you wouldn’t cancel unless there was an emergency.

So what

Authority is your competitive advantage. And within your practice area or industry niche, authority stems from:

• Having specialized knowledge AND advancing your unique perspective of it.
• Being known for your expertise AND getting recognized for it.

Writing can definitely help with those things.

Cheers!

 

 

 

PS – I’m a fan of actionable ideas that move you forward, so I hope you find this content useful. If something resonates and you want to reach out directly, you can email me or schedule a call with me!

PPS – If you think we share common interests, connect with me on LinkedIn. If you like my blog, please recommend it to a colleague.

I hope our last conversation about becoming a superhero in YOUR valuation world inspires you to move in that direction. Differentiate yourself. Master a skill set. Build your authority. Pursue aspirational clients. Don’t just hope to be up for consideration.

On to this week. For years now, I’ve been including a gentle plug for my practice in my valuation reports and engagement letters. I know it’s led to new engagements, ones I might not have gotten, because the new clients told me how they found me.

And if you’re new to the blog, welcome aboard. This is what we do!

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One thing I found last week: Who Are Today’s American Entrepreneurs? A Snapshot of U.S. Small Business Owners.

It’s a quick, bullet point summary about small business owners – their demographics, how they label themselves, and the businesses they run – by generation, from Millennials to Boomers.

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A gentle plug for my firm

I first heard the term “gentle plug for my firm” years ago in something that Chris Mercer wrote, probably in one of his early blog posts. I love the term, and I give credit for it where credit is due.

At the same time, I was working on a valuation project for a private investment company. This company had sector investment funds organized for the benefit of its individual high net worth clients. Those investment funds were audited, primarily by the Big 4.

One day, I was spreading an investment fund’s financial statements, and I noted that there was an “About” page that was a gentle plug for Ernst & Young. Here’s what it looked like:

I knew immediately that I would take the concept and Steal Like An Artist.

And so I made up my own About page for Burkert Valuation Advisors. Here’s what it looks like:

My MS Word metadata tells me I created the file on March 12, 2012 – so this post marks my About page’s sixth anniversary. And I’ve attached my page as the last page in every non-litigation valuation report and engagement letter I’ve prepared since then.

And it has led to new engagements

One example: An attorney in a mid-sized firm had my estate tax valuation report on his desk. Another attorney walked in to talk with my attorney, picked up my report, and started thumbing through it. He got to the end, saw my About page, and subsequently hired me for a business divorce case because he saw that I provided that service.

(Let’s not wonder about who got charged for the attorneys’ 6-12 minute confab.)

Yes. The whole thing was luck. And the harder I try, the luckier I get.

In real life

Is this something that would work for you? If not, why not?

What other ways can you find to make a gentle plug for your firm?

Reading that can help

Most ideas have been thought of. Like this one.

Not all of them have been adapted. Like I did.

Read Steal Like An Artist to learn how.

Cheers!

 

 

 

PS – I’m a fan of actionable ideas that move you forward, so I hope you find this content useful. If something resonates and you want to reach out directly, you can email me or schedule a call with me!

PPS – If you think we share common interests, connect with me on LinkedIn. If you like my blog, please recommend it to a colleague.

Hey, this is my quasquicentennial (125^th) newsletter.
A big THANK YOU to all of my loyal readers and faithful commenters!

I hope you found our last conversation about pricing with options to be useful. The lessons to take away from my $10k experience are that (1) you must listen to your prospects to find out exactly what is motivating them and (2) you can only get what you take the time to offer them.

On to this week. Faster than a speeding bullet. More powerful than a locomotive. Able to leap tall buildings in a single bound. Look! Up in the sky. It’s a bird. It’s a plane. It’s Superman! Yes, it’s Superman – strange visitor from another planet who came to Earth with powers and abilities far beyond those of mortal men. Yeah, that’s probably not you. But there’s no reason it can’t be.

And if you’re new to the blog, welcome aboard. This is what we do!

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Audience participation question: I am getting most of my work from social networking, LinkedIn in particular. What would you want to know more about using social media to expand your sphere of influence?

Email me and I’ll try to help … my inbox is always open!

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Google defines superhero as “a benevolent fictional character with superhuman powers, such as Superman.”

But you don’t hail from the planet Krypton.
And chances are you won’t get bit by a radioactive spider.
Or be exposed to a blast of gamma radiation.

And by the way, exactly how does this relate to our BVFLS work?

Up for consideration

A while back, I had a conversation with a LinkedIn connection. The brief back and forth has been festering in mind. It started with me responding to what was essentially a “How do I get work” post with a comment about specializing.

Another person chimed in and said something to the effect that many practitioners don’t want to take the time and effort to specialize … they just hope to be “up for consideration” when it comes time for a prospect or referral source to select an expert. And maybe they’ll get lucky.

I’m sorry, but who wants to operate with a mindset of “I just hope to be up for consideration”? I’ll tell you who:

• Practitioners who can’t or won’t take the time to figure out how to differentiate themselves from their competition because “we all do the same thing.”
• Practitioners who can’t or won’t make the effort to master a related set of BVFLS skills that make them the obvious choice for the ton of work requiring those skills.
• Practitioners who passively sit in their office and aggressively wait for the phone to ring with opportunities to propose on a new engagement.
• Practitioners who ultimately compete on the basis of price (because of the above) and lament the worsening state of fee compression in our profession.

PLEASE, don’t hope just to be up for consideration.

PLEASE, don’t settle for good enough skills that produce good enough work.

PLEASE, don’t hope to get lucky.

Seth Godin says we can define our world however we choose to AND then choose to be the best in that world. In short, you can be the superhero of your world!

In real life

Nancy Fannon, Roger Grabowski, Jim Hitchner, and Mark Zyla are not superheroes in the BVFLS universe. But because they put in the work … because they chose to specialize … they are superheroes in their world of damages, cost of capital, complex litigation, and fair value, respectively.

So what

While it may seem daunting to become a superhero in your practice area or industry niche, it’s made easier by the fact that most practitioners are content with being up for consideration.

I mean, witness the relatively few number of superheroes in our profession or, for that matter, in most other industries.

It’s not too late to become the practitioner you want to be. It’s not who you are that’s holding you back … it’s who you think you’re not.

You can be a superhero in your world.

But first, you have to start acting like one.

Because if you don’t want to be the best in your world, why are you doing this?

Reading that can help

If you’re not a daily reader of Seth Godin’s blog, you should be. It’s a source of incredible inspiration about how to better serve the people (clients) in your world.

Cheers!

 

 

 

PS – I’m a fan of actionable ideas that move you forward, so I hope you find this content useful. If something resonates and you want to reach out directly, you can email me or schedule a call with me!

PPS – If you think we share common interests, connect with me on LinkedIn. If you like my blog, please recommend it to a colleague.