A place of one's own

California CPA, August, 2004 by Lyne Noella

Most people tend to think of communities as places, such as cities or neighborhoods. But a community really can be defined as a group of people who maintain relationships based on common interests, goals, locations or values. This can include trade associations, civic organizations, business groups, nonprofit organizations, special interest groups ... the list is endless.

And one way to gain consistent business is by joining and participating in vibrant communities--be they neighborhoods or organizations.

When you contribute to the success of a community and its members, those people will turn to you for help in their time of need. To increase your odds of gaining business, it is helpful to join several communities.

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However, time is valuable, so it is important to choose the most promising communities from the start.

FINDING YOUR RIGHT HOME

How can you select the right communities for building business and make the most of your membership?

If you wish to approach a community as a business development opportunity, it's important to select groups that engage you on a personal level. Look for groups with high-quality members who you find interesting and exciting. If you leave a meeting feeling empty, it's probably not the right group for you.

To create a list of potential communities, hold a brainstorming session with others in your firm about communities that may contribute to your firm's success.

Once you create a list, prioritize the communities by asking these questions:

* Does this community include our firm's clients?

* Is this community composed of potential clients or other decision-makers who are in some way involved with selecting our firm?

* Does this community include high-quality referral sources?

* Does this community include advisers who are willing to add significant value to our business? Will these advisers help us make better decisions, open new doors and help us innovate?

* Is this community closely tied to interests--such as civic or legislative groups or industry-specific groups--that are important to our firm?

It is unlikely that any one community will fulfill all of your criteria, but the answers to these questions will help you and your partners prioritize the groups in terms of advancing opportunities for your firm.

After eliminating the least important communities from the list, determine from those that remain which ones will get your personal attention. Look to your co-workers to cover the balance of the communities--a sort of divide and conquer mentality. Also, separate your communities into those that you intend to explore now and those you will explore one, two or maybe three years down the road.

MAKE YOU PRESENCE KNOWN

Once you've made the decision about which community--or communities--to get involved in, gain and maintain visibility there.

The goal is to develop a regular presence and cultivate satisfying relationships.

Active involvement in a community makes people aware of your business, leads to referrals and gives you an edge when competing against businesses that have not invested in the community.

Layer your group activities with personal visits. Community members will be pleased by your personal interest, so invite them to lunch to learn more about them and share stories of how you have helped others.

By maintaining a leadership role in your communities, you help people understand your firm and how you provide value. Community involvement gives you the opportunity to demonstrate your character and capabilities, so potential clients and referral sources trust you. And more importantly, these efforts show your commitment to the communities.

Remain flexible. Don't be afraid to try new communities and drop others as circumstances change.

Over time, your most valuable communities will surface with tangible business results and lifelong friendships.

Lyne Noella is chief marketing officer at Stonefield Josephson, a Santa Monica-based certified public accounting and business advisory firm. You can reach her at (310) 566-4327 or Lnoella@sjaccounting.com.