Why you don’t need to know all the answers to deliver advisory
By Jenny Lukas, AVN Practice Growth Expert
Accountants have long been known for their expertise with the numbers. However, as the profession evolves, many accountants are now offering advisory services to their clients. While it may seem that you need to have all the answers before you get going, the reality is quite different.
Effective advisory services aren’t about providing all the solutions; they’re about asking the right questions.
In this article, I’ll explore why you don’t need to have all the answers to deliver effective advisory and how asking the right questions can be the key to success.
One of the fundamental principles of advisory services is empowerment. Rather than dictating financial decisions, you empower your clients to think critically, explore options, and make strategic choices. When you ask the right questions, you encourage clients to tap into their own business knowledge, so they can make more informed and effective decisions.
Revealing Financial Blind Spots
Just like individuals have blind spots in personal development, business owners often have business blind spots — areas where they struggle to see inefficiencies, risks, or opportunities. Thoughtful questioning will help clients uncover these financial blind spots.
Promoting Financial Accountability
Asking the right questions can also hold clients accountable for their financial goals and strategies. When they explain their goals and business vision in response to your questions, they are more likely to follow through. This level of accountability fosters responsibility and commitment to achieving their goals.
Nurturing Financial Independence
Effective advisory services equip clients with the skills and knowledge to navigate business challenges independently. When you ask the right questions, you help clients to develop confidence, independence, and resilience. Over time, clients become better equipped to make informed decisions, manage financial risks, and seize opportunities.
Every business is unique, with its own financial objectives, industry dynamics, and challenges. It’s important to customise your approach to each client’s specific needs. Asking the right questions allows you to develop tailored financial strategies that align with the client’s goals and circumstances.
Building Trust and Client Relationships
When you don’t simply impose a solution and instead focus on asking questions, it builds trust and strong client relationships. Clients appreciate being actively engaged in the advisory process, and this trust forms the foundation of a lasting and productive client-advisor partnership.
You don’t need to have all the answers; you just need to ask the right questions. By adopting a client-centred, enquiry-based approach, you will empower business owners to explore their own potential, uncover hidden opportunities, and make strategic decisions that resonate with their goals.
The journey of financial discovery and growth that advisory services facilitate is not only more effective but also deeply rewarding for both you and the client.
So, remember, your power lies not in having all the answers but in asking the questions that guide businesses toward their own financial solutions and success.
At AVN we love asking questions! Book a discovery call with one of our Practice Growth Experts to find out more – book your call now.