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IFAC Small and Medium Practices Forum 2009 - Role of SMPs in providing business support to SMEs

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

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IFAC Small and Medium Practices Forum 2009 - Role of SMPs in providing business support to SMEs

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  1. 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

  2. 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

  3. Supporting SMEs Ranked the most trusted advisers to SMEs, not just on accounting and business matters, but also on a variety of issues

  4. Supporting SMEs Own skills need to be upgraded to meet market demand e.g. Software Packages make book-keeping services almost obsolete

  5. Supporting SMEs Focus your market segment/choose your expertise; e.g. Risk Consulting IPO Consulting Obtaining finance Investment advisory Insolvency

  6. Uniqueness &Pioneering concepts Experience & Knowledge General knowledge Skill level requirement Experience +Trust Volume +Management Talent + Brand Critical Success Factors Practice Economics - Life Cycle of Professional Services Source: Adapted from Professor David Maister's book Rocket Science Margin Grey Hair Procedures & Practices Time

  7. Supporting SMEs Formation of Strategic Alliances, and what else?

  8. Supporting SMEs Pricing Differential Pricing Value Pricing

  9. Finding New Clients Situation of 2 Professional Firms: Firm A

  10. Finding New Clients (Cont’d) Situation of 2 Professional Firms: Firm B

  11. Marketing Over 70% of new businesses are from existing clients Don’t overlook opportunities in existing clients while chasing new clients

  12. Thank You ! Contact Information: Tel: (852) 2165 7887 Fax: (852) 2881 8766 Email: paul.chan@chhkcpa.com Website: www.chhkcpa.com www.paulmpchan.org

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