By Brooks Venick
As a first step, it’s critical that we identify the clients that will yield positive results from applying ProfitCents in your practice. It helps to create a list of “Key Clients” that will benefit from but also understand the value of financial analysis and real-time industry data. This will help hold you and your staff accountable while adding structure to the implementation process. Most small firms will choose 10-15 clients and grow the list as necessary. When formulating your list, it’s important to examine the client from 4 main perspectives:
- Client relationship
- Client value
- Owner mentality
- Business health
It’s vital that you focus your efforts towards the clients that perceive you as a financial advisor because these are typically the people that you will communicate with the best. Using ProfitCents with valuable “A and B clients” like this will boost the firm’s ROI potential. Think of the people that seem proactive, inquisitive, and open-minded because they will be most receptive to our analysis and your professional advice. It’s also a good idea to prioritize the Key Client list by the financial health of the business so that you can initially focus on the clients that need you the most.