I’ve done strategic planning for organizations of all kinds: public, private, growing corporations seeking IPO, and nonprofits. At the core of this work is financial modeling and forecasting. It doesn’t so much matter the type of business—the work is essentially the same:Read More
We’ve had a great year teaming up with Mark Wickersham to help more accountants adopt value-based pricing for advisory services in their firms. In the past few years, these two concepts have grown from buzzwords to important strategies for accountants, helping them get paid fairly for their services in a changing industry.Read More
Avoiding the potholes
Implementing a process to manage the work of Strategic Advising is the key to making it happen in a profitable, seamless way. Having a regular routine can make all the difference.
When I decided it would be good to align LivePlan’s method for advisory services with a workflow toolset, I wasn’t sure where I would begin. Then I met Ian Vacin, VP of partnerships and education at Karbon (and known accounting industry thought leader).Read More
Helping a client to build a more profitable and successful business is one of the most valuable things we can do. It would be crazy to price this work based on time—that would leave too much money on the table.Read More
If you are reading this, you probably are already offering Strategic Advising Services, or researching the topic for your firm. Some of you may already be using the LivePlan Method for Strategic Advising.
I’m guessing that you also have a desire to move from being just a historian for your clients’ small businesses to someone that provides more value, and helps small business succeed, which ultimately will lead to more value for you (e.g. more revenue for your practice).Read More
As Geoffrey James so eloquently explains in this article, “Selling is the process of making dreams come true." And even though this is absolutely true (or maybe because of this), many accountants are still very uncomfortable with the notion of “selling." They find it off-putting, or difficult at best.Read More
Anyone who has been providing client services for a while has processes that they follow. But there is a difference between haphazard processes that have grown organically, and processes that are intentional, well-considered, and documented. The difference between the former and the latter is the difference between having a firm that is merely surviving, and one that is thriving.Read More
Client advisory services, like any other offering in an accounting practice, must be profitable to be worthwhile for your business. At the same time, Strategic Advising, or client advisory services, have the distinction of being the most open-ended type of work you can do in the spectrum of public accounting.
This might seem like a really great opportunity, but it can also be your biggest potential risk if you don’t plan for the work correctly.Read More
I am often asked during LivePlan training sessions: “When should I do a full business plan for my client, and how do I charge for it?” It’s a great question because it gets to the heart of advisory services.
Advisory services, done right, do not involve writing a traditional business plan.Read More
Businesses both large and small have come to expect that financial information will be accessible at all times and that accounting firms show they’re as tech-savvy as any other profession.Read More