Required Activity for Building CPA Partnerships

Building CPA Partnerships: The Numbers You Need to Know

To find "unicorn" producing partners among accountants, you need to understand the key performance indicators (KPIs) that drive successful partnerships. Based on 10 years of experience and data from training wealth managers and insurance producers.

Initial Contact Methods

Warm Introductions (50% Success Rate)

Sources include:

• Existing clients
• Prospects
• Business relationships (banks, attorneys)
• Payroll specialists
• Commercial insurance agents
• Friends and family members

Cold Outreach (5-10% Success Rate)

Methods include:

• Email campaigns
• Phone calls
• Office visits
• LinkedIn outreach
• Other cold strategies

The Partnership Pipeline

Stage 1: Initial Meetings

• Warm Introductions: 10 leads → 5 meetings
• Cold Outreach: 100 touches → 5-10 meetings

Stage 2: Meeting Progression

1. First Meeting (50% success rate)
   • Focus: Learn about them
   • Present unique value proposition
   • Avoid product-focused discussions
2. Second Meeting (60% success rate)
   • Less formal approach
   • Review previous discussion
   • Clarify relationship benefits
   • Outline client benefits
3. Third Meeting (60% success rate)
   • Review engagement agreement
   • Set expectations
   • Define roles and responsibilities
   • Secure formal commitment

Stage 4: Converting to Production

• 30-40% of committed partners become producing partners
• Goal: Two productive accountant partnerships

The Numbers Breakdown

Target: 2 Producing Partners

Working backwards, you need:

• 6 committed partners to get 2 producers
• 9 engaged partners to get 6 commitments
• 15 second meetings to get 9 third meetings
• 30 first meetings to get 15 second meetings

Total Activity Required

For Warm Introductions:

• 60 warm introductions needed
• 50% conversion rate to meetings

For Cold Outreach:

• 300-600 touches needed
• 5-10% conversion rate to meetings

Expected Results

Per Producing Partner

• 1-2 new cases per week
• Zero marketing costs
• Long-term relationship potential

Total Production (2 Partners)

• 2-4 new cases per week
• Sustainable revenue stream
• Career-long partnerships

Implementation Timeline

• Typical development period: 3-6 months
• Focus on consistent activity
• Build relationships systematically
• Track and measure all metrics

Best Practices

1. Follow a structured process
2. Use engagement agreements
3. Focus on value proposition
4. Maintain consistent communication
5. Track all metrics
6. Set realistic expectations
7. Plan for long-term relationships

Success Factors

• Systematic approach to outreach
• Clear value proposition
• Professional relationship management
• Patient development process
• Consistent follow-through
• Focus on mutual benefit