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Amplifying Success

Amplifying Success

September 13, 2023

In the ever-changing realm of accounting and finance, building a thriving network is key to growing in your expertise and more fully serving the needs of your current and future clients. Harnessing Centers of Influence (COIs) is an incredible way for Certified Public Accountants (CPAs) and Enrolled Agents (EA) to expand their capability to serve their client's needs and build the credibility of their company within the community they serve.

Several weeks ago, I had the pleasure of attending a National Association of Tax Professionals (NATP) conference in Kansas City. I not only connected with new peers but caught up with those I already knew. I hosted a roundtable discussion on many of the financial topics they come across daily, and how best to address them and help their clients. We also discussed the way our firm can help them broaden their capability to serve their client's needs. I want our team at Link Wealth Strategies to bring great value to our partners—our COIs.

COIs can be individuals or entities with industry influence and credibility. These individuals are proven and respected authorities, frequently sought after for counsel and recommendations by prospective clients. This group can consist of attorneys, financial advisors, business consultants, bankers, and other professionals closely aligned with your expertise.

The Significance of COIs for CPAs and EAs:

1. Elevated Credibility: Partnering with COIs adds an extra layer of credibility to your practice. When respected professionals endorse your services, potential clients are more inclined to trust in and seek out your expertise.

2. Niche Market Access: COIs often specialize in various niches, allowing you to tap into new markets and sectors that align with your core proficiencies. This diversification paves the way for greater client acquisition and can diversify your company's revenue streams.

3. A Web of Referrals: Building rapport with COIs fosters a reciprocal referral network. As you direct clients their way, they are more inclined to reciprocate, ushering fresh clients into your practice.

4. Accelerated Client Acquisition: COIs can serve as intermediaries, introducing you to potential clients who are pre-qualified and eager to utilize your services. This can speed up client onboarding.

Effective Strategies for Leveraging COIs:

1. Genuine Relationship Building: Make connections with COIs based on genuine interest and mutual benefit. Engage in industry events, seminars, and networking affairs to cultivate meaningful associations.

2. Showcase Value: Demonstrate the value you bring to the table. Share your expertise through thought leadership, round table discussions, public speaking engagements, and workshops that highlight your expertise.

3. Reciprocal Value Proposition: As you seek referrals from COIs, identify opportunities to reciprocate by directing clients their way. This demonstrates your commitment to the partnership.

4. Sustained Engagement: Regularly connect with COIs to uphold the relationship. Dispense practice updates, and relevant industry insights, and inquire about their needs. This last point is crucial. An inquisitive approach to their business and needs will set you apart as one who cares.

5. Collaborative Endeavors: Explore collaborations like joint ventures, webinars, or co-authored content with COIs. These ventures enhance visibility and impart value to both networks. Recently we hosted a combined tax and financial planning webinar with an excellent CPA from Topeka.

As the realm of accounting and tax planning continually evolves, CPAs and EAs who are open to the idea of COIs have a great advantage. Building meaningful ties with other like-minded professionals you trust will increase your credibility, extend market outreach, and increase your client base. By fostering sincere bonds, delivering mutual value, and embracing collaborative projects, business owners can tap into the power COIs offer. The strategic bedrock of COIs will continue to allow professionals to extend their influence and capabilities while growing their businesses.

Should you be interested in expanding your COI network—I'm always eager to grow mine—reach out to me at