The squirrel network
— jumping into the center of the pond and
closely studying the dynamics of the ecosystem. Surrounded by so many organisms and
so much activity, you’re certain to figure out
where in the pond the most fish reside, what
they’re hungry for, etc. And as a result, you’re
sure to reel more of them in.
working” like the traditional banker breakfasts, lawyer lunches and chamber cocktails.
This might have been good enough when the
economy was soaring, but not anymore.
tical to the strategic, leading to faster
growth.
So here’s the deal: Master rainmakers have
never been content with that kind of unfocused networking. Super-successful partners
are, by nature, strategic thinkers who have
figured out how to discover market intelligence by getting up close and personal
with that pond. Once discovered, they
connect the dots, leading them to a
great quantity of potential buyers
and growing their understanding
of buyers’ interests.
P
A
Picture
a fishing
pond. Stand at
the edge and throw
a line in and you’ll probably
catch a fish now and again. Compare that tactical approach with a more strategic method
H
T
H
T
W
A
Y
Market intelligence is a result
of the relentless pursuit of in-
formation, especially through fo-
cused research calls on prospects,
competitors and others in your niche.
You supplement this knowledge by reading
everything you can about that industry: trade
journals, magazines, electronic publications.
Add the new social media tools at your dis-
posal. If you haven’t begun to tweet, Face-
book, blog or use LinkedIn, you’re missing
the opportunity of a lifetime to get in on the
(nearly) ground floor of incredible tools to
learn your market from the outside in, from
what’s on the minds of buyers to what they’re
reading, buying and responding to.
Consider these hypothetical examples of
how CPAs can leverage market intelligence.
Through contacts in the manufacturing
sector, you hear about a new conference on
Lean/Six Sigma strategies. You realize this
$
R
G
W
S
O
T
O
BY gale crosle Y
Market intelligence is a valuable commodity
our yard was inundated with bird-food-eating squirrels and we
were desperate. so we did what desperate people do: We fell
for a shiny advertisement promoting a highly specialized
(read: expensive) squirrel-defying bird feeder.
The squirrel spies the contraption, thinking he’s discovered a birdfeeder Lazy Susan,
which is pretty much what it looks like. But
climbing on it sends the pest on a vertigo-in-ducing merry-go-round ride. We were promised that this does not harm the squirrel.
What it does do is send the dizzy rodent
straight back to the forest with a powerful
message for its fellow squirrels: “Dudes. Do
not go foraging in the Crosleys’ yard. Nothing
good will come of it and you’ll likely come
away with a monumental headache.”
It struck me that this sylvan communica-
tion is a perfect example of shared market
intelligence. Market intelligence is the aggre-
gate of information about a particular market,
and the strategic use of that information to
grow the firm. It takes you beyond the tac-
would be the perfect presentation forum for
a manufacturing consultant you know who
specializes in Lean/Six Sigma, and is trying
to grow her base. This is a valuable piece of
market intelligence that you share with her.
(P.S.: Someday, she gives you a juicy nugget
of market intelligence.)
Gale Crosley, CPA, is founder and principal
of Crosley+Co. ( www.crosleycompany.com),
providing revenue growth consulting and
coaching to CPA firms. Reach her at gcros-
ley@crosleycompany.com.
RANDOM ACTS OF NETWORKING
When it comes to business-building, however, most partners have resisted that soggy
jump into the center of the pond. They’re
more comfortable with “random acts of net-
LISTEN FOR THE THEME
The closer you get to the epicenter of your
market and the more high-value market intelligence you uncover, the more the dots
start to connect. Rather than looking for a
lead here or a referral there, you’re looking
for the big picture to emerge. It’s not the individual notes of music, but the large themes
they produce that matter. The results include
a better strategic direction, a bigger pipeline
and faster revenue growth.
That’s when you know you’re trading in the
currency of market intelligence. AT
M&A WATCH
PHOENIX
Price Kong and Bernard & Stallman join
Details: Phoenix-based accounting firm
Price, Kong & Co. CPAs has merged with
Bernard & Stallman PC. The merger took
effect on August 1 after months of negotiation. Terms were not disclosed. (For
more, see our Practice Profile, page 10.)
SOUTH FLORIDA
Weinberg acquires Mimi Stein
Details: Weinberg & Co., with offices
in Boca Raton, Los Angeles and Hong
Kong, has acquired West Palm Beach-
based Mimi Stein PA, expanding its pres-
ence in the South Florida region. Stein
and her staff will retain the existing West
Palm Beach office. The combined firm will
operate under the name Weinberg & Co.
CHICAGOLAND
Porte Brown acquires two firms
Details: CPA firm Porte Brown LLC has
acquired two other firms in the past quarter: Fleming & Co. PC, a firm with three
offices in McHenry, Elk Grove Village and
downtown Chicago, and G. Ross & Associates Ltd. of Chicago. Financial terms
were not disclosed. Porte Brown has 70
employees and more than doubled in
size over the past five years in terms of
personnel and billings, and is aggressively looking to acquire other firms.
KANSAS
Moss Adams merges in
Warriner Gesinger
Details: Top 100 Firm Moss Adams LLP
has combined with Warriner, Gesinger
& Associates, expanding to the Midwest
and augmenting its telecommunications
practice. The merger adds an office in
Overland Park, Kan., along with two
partners, a director and approximately 20
employees. Terms were not disclosed.
Summers Spencer absorbs
James F. Gillespie CPA
Details: Kansas accounting firm Summers Spencer & Co. has absorbed Overland Park-based accounting firm James F.
Gillespie CPA. SS&C added Jim Gillespie
as a partner, as well as his firm’s three
staff members. Gillespie’s ERISA auditing
experience was of particular interest to
Summers Spencer.
KENTUCKY
CRI merges in Holland CPAs
Details: South Central Kentucky ac-
counting firm Holland CPAs PSC has
merged with Top 100 Firm Carr, Riggs
& Ingram LLC, and its office locations in
Bowling Green and Russellville will now
operate under the CRI name. The move
into Kentucky means CRI is now operat-
ing in eight Southern states. Holland
CPAs’ approximately 40 people, including
four partners, are all expected to remain
at the combined firm.
MONTREAL
MNP expands in Quebec
Details: Calgary, Alberta-based MNP,
one of Canada’s largest chartered accounting firms, has merged in Montreal-based William Epstein Chartered Accountants, effective October 1. Financial terms
were not disclosed. The union bolsters
MNP’s presence in the Montreal market,
which it first entered earlier this year.
