Accountant Shortage

Within the last few years, the demand for accounting talent has skyrocketed...or so says this interesting article from Reuters. "see link"

Three years ago, an accountant with 5 years experience who worked in the NYC area for a large accounting firm, might expect an annual salary of $65,000. Today, salaries are closer to $90,000. What's happened?

• Sarbanes-Oxley, responsible for a strict set of corporate guidelines, could also be termed the CPA Full Employment Act of 2002. Cautious corporate managers and audit firms are scouring the market for the best accounting talent, in an effort to keep their books in order, and out of the eyes of vigilant regulators.
• According to  the AICPA, the American Institute of Certified Public Accountants, the total number of accounting graduates is down more than 12% from ten years ago.
• Accountant burn-out. On-the-job stress from longer hours and grueling audits has caused one in five U.S. accountants to leave the fast track...for the relatively sedate world of consulting or part-time work.

Are accountants one of your "centers-of-influence?" Have they been difficult to reach lately? Here's a possible reason for it. Why don't you call up your favorite CPA one of these days and buy them a drink...caffeine or alcohol-based? Or...you could send them a sympathy card.

Speaking of CPAs as centers-on-influence, let me point you in the direction of www.horsesmouth.com, which has recently assembled a great new resource. They have assembled a publication entitled, Automatic Referrals, a 200-page piece on how to master a referral strategy. Chapter 9 is devoted to building the CPA connection, "Automatic Referral Allies - Landing Strategic Partners." One of the points that Horsesmouth brings up is the importance of matching your interests along with prospective CPAs. For example, if you are targeting small business owners who have 10-25 employees, you need to find CPAs who specialize in this area too. It wouldn't make sense for you to establish strategic partnerships with CPAs who focus on audits for large regional banks. In other words, do your due diligence first...and you won't waste time building alliances where there is not a fit.

If your referral strategy is non-existent or broken, you should consider Automatic Referrals. This is a resource that bears The Prospecting Professor's Seal of Approval.