Finding Your Ideal CPA Partners: The First Step
Understanding Your Initial Target Pool
The journey begins with identifying 30-50 potential CPA partners. While this number might sound daunting, it's actually quite achievable. More importantly, this larger pool is necessary because not every conversation will lead to a partnership—nor should it.
"Don't discriminate initially out the gate," is the key message here. Your potential partners might be:
- CPAs
- Enrolled agents
- Tax preparers
- Any accounting professional who works directly with clients
The First Conversations: Information Gathering
One of the most important insights shared is how to approach your initial conversations, particularly with those close to you. If your first potential contacts are:
- Your personal CPA
- A family member in accounting
- A neighbor who's a tax professional
Don't approach these early conversations with partnership expectations. Instead, frame them as informational interviews. You're gathering data points, learning the landscape. As emphasized in the discussion: "Don't judge anything on your first few conversations or meetings. If they go well, that's great. If they don't go well, that's great too. You just got to get through the first few."
The Ideal Partner Profile
Firm Size Sweet Spot
The optimal setup is either a solo practitioner or a small partnership with 2-3 partners maximum. Why? Once you exceed four partners, internal politics become a significant barrier to forming effective relationships.
Regarding solo practitioners: While they're viable candidates, having at least one staff member is preferable. This allows the CPA to delegate client communication and creates more efficient workflow.
Client Base Considerations
A common misconception is focusing on the number of clients. As discussed, "Sometimes you have a CPA that's doing they got a thousand clients, somebody's all excited they got a thousand clients, but they're not really great clients because they don't have close relationships."
What matters more:
- Quality of client relationships
- Proportion of business owner clients
- Complexity of client situations
- Depth of existing client engagement
Age and Career Stage
The most receptive CPAs typically fall within the 35-55 age range. Why this matters: Those within three to five years of retirement are less likely to invest in significant practice changes. As noted, "There's always examples on both sides, but in general, that's probably the age range that you're looking at."
The Perfect Elevator Pitch
The discussion provided a powerful, tested elevator pitch:
"I teach CPAs how to deliver more value to their clients by becoming more proactive and holistic."
This pitch works because:
- It focuses on client value
- It's hard to argue against
- It typically prompts follow-up questions
Managing The Response
The ideal response you're looking for is something like "What does that mean?" or "Can you tell me more about that?" When you get this response, resist the urge to launch into a detailed explanation. Instead, pivot to scheduling a proper meeting:
"I'll tell you what, why don't we look at getting together for coffee next week, maybe 30 minutes at the Starbucks on fifth and broadway?"
This approach accomplishes several things:
- Maintains professional boundaries
- Creates proper setting for discussion
- Shows respect for their time
- Establishes ground for relationship building
Strategic Relationship Development
The key is to approach these relationships systematically. You're not selling a product or service; you're offering a partnership opportunity that benefits both parties. The initial conversation should focus on understanding their practice and challenges before presenting any solutions.
Remember: A CPA who isn't interested in bringing more value to their clients probably isn't the right partner for this model. The qualification process works both ways—you're looking for partners who align with your vision of comprehensive client service.
