By Shane Lukas, Managing Director, AVN
Let’s face it, “business advisor” sounds daunting. It conjures images of high-powered suits in boardrooms, wielding PowerPoint decks thicker than your arm. But here’s the secret: you already hold the key to unlocking that advisor within.
Forget the intimidating jargon and abstract strategies. Think of advisory services as an extension of your existing skillset, like adding a turbo boost to your accounting expertise.
It’s about taking the insights you already glean from the numbers and using them to propel your clients’ businesses forward.
And it doesn’t have to be scary: the transition is gradual, not a cliff jump. Start small, leverage your strengths, and watch your confidence (and your client’s success) soar.
Here’s how to do it:
- Data Detective: You’re already a master of numbers, now become a data detective, unearthing hidden patterns and trends in your client’s financials. Go beyond basic reports and delve into deeper analyses. Identify cost-saving opportunities, predict customer churn, or track the effectiveness of marketing campaigns. Share these insights with your clients, not as dry numbers, but as compelling stories that inform their strategic decisions.
- Budget Guru: Budgeting isn’t just about spreadsheets, it’s about financial foresight. Help your clients build realistic, flexible budgets that adapt to market shifts and unforeseen circumstances. Become their financial confidante, guiding them through tough decisions and offering alternative scenarios. Remember, a good budget isn’t a rigid prison, it’s a roadmap to success.
- Process Whisperer: Every business has internal processes, some humming like well-oiled machines, others creaking like rusty hinges. Offer your process improvement expertise. Identify inefficiencies, bottlenecks, and redundancies. Suggest streamlined workflows, automation opportunities, and technology integrations that can save time, money, and frustration.
- Compliance Coach: Compliance isn’t just a tick-box exercise, it’s a path to minimising risk and maximising opportunities. Help your clients understand the ever-evolving regulatory landscape and guide them through compliance hurdles. Become their trusted advisor, ensuring they stay on the right side of the law while taking advantage of tax benefits and legal protections.
Remember, these are just stepping stones. As you gain confidence and experience, you can expand your advisory repertoire. Offer business plan development, financial forecasts, merger and acquisition guidance, or even help clients navigate the complexities of raising capital.
The key is to start small by leveraging your existing skills and focusing on adding value to your clients’ businesses. Soon, you’ll find yourself confidently navigating the world of business advisory services as a trusted advisor, empowering your clients to achieve their financial goals and unlock their full potential.
So, ditch the fear, embrace the advisor within, and watch your practice transform.
Remember, the greatest journey starts with a single step, and in your case, that step is already a part of your accounting DNA.
Need a nudge to get you going?
The PracticeBoost Workshop is a great place to start. In this interactive 1 day workshop you’ll learn practical, proven strategies to boost your business skills. Leave energised and inspired, with clear, actionable steps for productising services, value pricing, attracting ideal clients, and comfortably delivering advisory solutions.
Find out more at https://avn.pages.ontraport.net/PracticeBoost