ifac small and medium practices forum 2009 - role of smps in providing business support to smes
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IFAC Small and Medium Practices Forum 2009 - Role of SMPs in providing business support to SMEs Mr. Paul MP Chan Beijing, China . October 28, 2009. Audit | Tax | Advisory. Supporting SMEs. By Market Demand and By Necessity - PowerPoint PPT PresentationTRANSCRIPT
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IFAC Small and Medium Practices Forum 2009 - Role of SMPs in providing business support to SMEs
Mr. Paul MP ChanBeijing, China . October 28, 2009Audit | Tax | Advisory
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Supporting SMEs
By Market Demand and By Necessity
• SMEs – Worldwide, all Governments help SMEs because of Employment & Politically Popularity
• SMP’s Capacity constraint in serving large companies
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Supporting SMEs
Ranked the most trusted advisers to SMEs, not just on accounting and business matters, but also on a variety of issues
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Supporting SMEs
Own skills need to be upgraded to meet market demand
e.g. Software Packages make book-keeping services almost obsolete
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Supporting SMEs
Focus your market segment/choose your expertise;
e.g. • Risk Consulting• IPO Consulting• Obtaining finance• Investment advisory• Insolvency
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General knowledgeExperience & Knowledge
Uniqueness &Pioneering concepts
Skill level requirement
Volume +
Management
Talent
+ Brand
Experience +
Trust
Critical Success Factors
MarginRocket Science
Time
Grey Hair
Procedures & Practices
Practice Economics - Practice Economics - Life Cycle of Professional ServicesLife Cycle of Professional Services
Source: Adapted from Professor David Maister's book
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Supporting SMEs
Formation of Strategic Alliances, and what else?
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Supporting SMEs
Pricing
• Differential Pricing
• Value Pricing
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Finding New ClientsSituation of 2 Professional Firms:
Firm A
60%Unknown
100%Market
70%40% Unused
Known20% Unsatisfied
80%Satisfied30%Used
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20%Unknown
40%Unused
100%Market
80%Known 80%
60% UnsatisfiedUsed
20%Satisfied
Situation of 2 Professional Firms:
Firm B
Finding New Clients (Cont’d)
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Marketing
Over 70% of new businesses are from existing clients
Don’t overlook opportunities in existing clients while chasing new clients
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Thank You !
Contact Information:
Tel: (852) 2165 7887Fax: (852) 2881 8766
Email: [email protected] Website: www.chhkcpa.com www.paulmpchan.org