LOS ANGELES – Mark Wald, Founder and Managing Director of Supporting Strategies | Los Angeles, appeared as a guest on the August 11 edition of "The Staying Power" podcast hosted by Brandon Hall.
The episode, "Secrets to Building a Virtual Accounting Business to 40 Employees by Attracting Clients via Referral Networks, and More," gave Wald a forum to reveal how he grew his client base from 0 to 240 in just 6½ years.
According to Wald, a key to his success was leveraging the Supporting Strategies franchise model rather than continuing as an independent consultant. "It made a lot of sense for me to use their business-model-in-a-box," he said. "I was able to quickly launch and start delivering services to an expanded client base as opposed to trying to build it myself from scratch."
Working from the franchise foundation, Wald quickly built a referral network, largely by collaborating with CPAs rather than competing with them. "Most of my business I get by way of professional referral introductions," Wald said. "CPAs are my number-one referral source. That's because they understand, number one, the value of the work that our team delivers to our shared clients, and number two, we don't compete with CPA firms for tax and audit work."
Wald elaborated on this important distinction: "We're very specifically focused on back-office bookkeeping and finance support, so the CPAs know we're not going to steal their tax and audit business ... But at the same time, we're going to deliver high-quality work that makes the CPAs more efficient in their work function downstream."
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About Supporting Strategies
Supporting Strategies provides outsourced bookkeeping services, controller services and operational support to growing businesses. Since 2004, our locally owned and operated offices have served thousands of companies, helping business leaders free up their time, focus on their core competency and streamline their business. Our experienced, U.S.-based professionals use secure, best-of-breed technology and a proven process to deliver a full suite of services, including accounts payable, accounts receivable, bookkeeping, financial analysis, payroll administration and more. For more information, please visit supportingstrategies.com.