Selling the concept of advisory services to your client
Business Advisory Services Update
If you are an accountant who is starting out to offer Advisory Services planning, pricing the advisory assignment can be challenging.
In a recent ESS BIZTOOLS Business Advisory Services Podcast, a well-known accountancy industry consultant, Andrew Geddes, outlined an approach to submitting the work assignment and the fee proposal to a client.
Firstly, you will need to have a conversation with the Directors or owners of the business relative to this type of services, which could include the following…
Compliance Services:
- annual financial accounts and taxation returns
- tax planning
- quarterly business activity statement lodgement
External Chief Financial Officer (CFO) services:
- establishing budgets and cash flow forecast
- review of monthly financial reports with comparison to the budget
- discuss financial matters with directors as they arise
Board of Advice Services: membership and facilitation – agenda, reports, organise meeting dates, minutes of meetings.
Senior Leadership Team Strategic Meetings: facilitate quarterly meetings
Leadership Team Operational Meetings: facilitate 7 meetings (no meeting scheduled in December).
This entails understanding what trends are coming up for this business and what’s going to be the effect on the business from these trends. What have we got to do to improve performance to avoid any risks?
It is important that agreement is reached as to who is going to be responsible for driving these changes. You need to be forthright in itemising the roles that you will play.
Are you interested in viewing an EXAMPLE OF A FEE PROPOSAL? Watch this space for a complimentary access to a fee proposal based around these services.
Want to know more? Andrew Geddes discussed these matters in the recent episode of ESS BIZTOOLS Business Advisory Services Podcast.
ESS BIZTOOLS is offering an outstanding package with a special new financial year incentive, to assist small accounting/bookkeeping firms to get started delivering advisory services. Click here to find out more about our Starter Package or our Advanced Package and to subscribe.
