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‘In the Black Marketing’ – the title of this episode – covers the medium and long-term marketing principles outlined in Allen Bostrom’s book ‘In the Black”.
In the Black Marketing
The book ‘In the Black’ outlines nine principles that allow you to make your accounting practice more profitable. Alf Bostrom – renowned as the ‘Turnaround-King’ – developed these nine principles. His son Allen Bostrom put these principles to paper in the book ‘In the Black’.
We covered the first principle last week – “Nothing happens until there is a sale”. In this episode, Roger Knecht of the Universal Accounting Centre in Utah discusses the remaining two marketing principles with you, the medium and long-term action steps for marketing.
Please listen in as Roger shares helpful advice and insights which we haven’t listed here.
To listen while you drive, walk or work, just access the episode through a free podcast app on your mobile phone.
In the Black Marketing
Marketing is based on three concepts:
1 – Nothing happens until there is a sale.
2 – A deal is only good when it is good for both parties.
3 – Grow the business geometrically.
The first – ‘Nothing happens until there is a sale’ – we covered in the last episode, ep 277. In this episode 278, we cover concepts 2 and 3.
2—A deal is only good when it is good for both parties.
A deal that is good for one side but bad for the other will never survive long-term. Sooner or later the disadvantaged party will try and break out.
Key concepts are:
- WIIFM (What’s In It for Me?) is important for both sides.
- Lop-sided deals will damage long-term relationships.
- Be aware of your client’s needs and meet them.
- Make sure the deal is good for you as well.
- Show your clients how you benefit them.
3—Grow the business geometrically!
Growing a business geometrically means aiming for exponential growth rather than linear growth. Linear growth is tedious and slows down over time, whereas geometric growth comes from many angles.
That’s it from us but with this, we are only scraping the surface. Please listen in as Roger Knecht goes into a lot more depth.
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Nothing Happens Until There is a Sale
Disclaimer: Tax Talks does not provide financial or tax advice. All information on Tax Talks is of a general nature only and might no longer be up to date or correct. You should seek professional accredited tax and financial advice when considering whether the information is suitable to your or your client’s circumstances.
Last Updated on 20 March 2023
Tax Talks spoke to Roger Knecht - President at Universal Accounting - for more details.
