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October 25, 2007


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Good luck with the challenge, FMF. I am kicking around the idea of putting my CPA knowledge to use in helping people budget, set financial goals, etc. Ideally those clients would then become clients of the CPA firm I work for, thus helping me gain partner status by bringing in the extra revenue the current owners want.

My 2 main sticking points are:
1) I need to look into whether or not I need additional certification or not - I'm thinking not as long as I don't sell any products, which I have no interest in. I am leaning more towards the fee-only area since there are plenty of stockbrokers and online discount sites out there.

2) I am no good at marketing.

Any help readers could pass along would be great.

Not good at marketing? That's my specialty! ;-)

What are you looking for specifically? How to get clients? What to offer them? How you position yourself? Something else?

FMF - Mainly I need help obtaining clients, both for that side biz and our firm overall (which is one of the steps I need to take to be a partner).

As far as what to offer - I will most likely focus on fee based budgeting, financial goal setting, etc. Like I said, I really don't have any interest in selling products/getting commissions. I guess if it gets to the point where that would be profitable, I could go for the necessary licenses, but I want to start simple and build slowly.

As far as positioning myself - I would like to focus on middle class people that live paycheck to paycheck. Folks that make a decent living but can't seem to get ahead. I was there early in my career about 7-9 years ago and know the stress it causes. I think there is a niche there for people that don't think they have enough money to save or invest, so don't ever talk to a traditional investment advisor. Plus, I'm not sure a regular stockbroker is qualified to deal with those issues anyway.

Marketing is fun.

I am in the exact spot you reference:

"middle class people that live paycheck to paycheck. Folks that make a decent living but can't seem to get ahead."

Keep us posted on your progress.

Kevin --

Did I mention I do consulting? ;-)

Seriously, if you're really serious about doing this, you need a complete plan. If you like, email me and we can discuss it.

Wow, I think I found my first client. :-)

FMF - I am definitely serious about doing it. I think it could be a nice little side business that could potentially grow into a full-time thing if I want it to. I'll drop you an email to discuss further.

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