MOST BUSINESS OWNERS COMPLAIN ABOUT THEIR ACCOUNTING FEES
In our previous blog we pointed out that most accountants agree that they need to do more with their clients than just compliance work. And these accountants indicated the three biggest challenges that they have in delivering value-add services to their clients. And the three biggest challenges are:-
- They don’t have the time to deliver these services
- They don’t know how to market these services in order to offer them to clients and prospective clients
- They don’t have a system for the delivery of these services
And here is the solution to these three major challenges facing accountants who want to deliver value-add services to their clients…
Accountants, like any other business owner, need a coach. The coach could assist the accountant to overcome all three challenges that I have pointed out above. And it makes good sense. The next thing for the accountant to do is to select a coach that can help them overcome these challenges and also help them achieve the results that they are looking for by offering advisory services.
Here’s the scoop. Accountants are hearing every day that they need to provide advisory services. And accountants want to be valued by their clients. They want to be seen as consultants and advisors, not just bean counters or pen pushers. So in order to overcome the barriers mentioned above, accountants need to appoint a business coach to assist with the process. They need to find a business coach that has a proven system to deliver marketing and advisory services. And the accounting practice needs to be the first client on this system. In other words… the coach needs to coach the accountant with this system in order to teach them how the system can benefit their clients. And yes…I mentioned marketing. Clients want the accountant to help them grow their business. Marketing is the way to increase revenue and profits, hence the need for a marketing system that produces a marketing plan.
In the coaching process, the coach can assist the accountant to find the time to deliver these add-on services to their clients. If the accountant cannot find the time required then the coach can assist by coaching the clients of the accountant and to at least get the ball rolling. And this will overcome challenge number one above.
Coaches have systems that can help the accountant with the marketing of their own practice. These very same systems can be used by the accountant to assist their clients with marketing. So this will overcome challenge number two. And if the accountant does not have the time to deliver these services they can engage the coach to do this and/or at least get the ball rolling. The coach will be able to help the accountant then to market these add-on services in order to offer them to clients and prospective clients – problem solved.
As for challenge number three. The accountant could acquire the rights to the same system that the coach is using. This means that the accountant has control of the process and can choose to deliver consulting and advisory services to their clients with, or without, the assistance of the coach and this would give them total control of the process. This means that the accountant will now have a system they can call their own, and they can offer this system to their clients and prospective clients.
When accountants help their clients to grow their business there is no way the client will even consider looking for another accountant. The accountant has now transformed their accounting fees from a cost to an investment. And this will put an end to clients ever complaining about their accounting fees.
- The top 4 business concerns for accountants in 2017 – Part 3 - 18 January 2017
- The top 4 business concerns for accountants in 2016 – and how to overcome them - 15 December 2016
- Go from surviving to thriving in 2017! - 19 October 2016