Accountants Be Proactive! Don’t Chase Courageous Clients Away!

What do you want your accountancy business to look like in 1 to 2 years’ time?

The same as it looks at present or have you developed a strategy for the future or are you thinking about a strategy for the future?

What are your firm’s Key Performance Indicators – have you compared them to other firms who are offering diversified services?

Are you satisfied with your firm’s diversification strategy?

• Average fee per client
• Number of “A” class clients
• Client retention percentage
• Client satisfaction – do you measure this?
• Team satisfaction
• Team retention
• Ability to recruit outstanding team members

Will your firm’s strategies contribute to raising the bar so that bright, courageous, expanding businesses are confident to stay with your firm or appoint your firm as their accountants?

If a client/prospect asks, “can you supply the type of services that I will require to assist me in my expansion and assist me to develop new strategies with specific advice?”  How do you respond on:

• Research and Development – planning, systems, documentation, registration with AusIindustry, research and development tax rebate claim.
• Accelerating Commercialisation Grant – assistance with the application for a grant of up to $1 million; identifying the source of funds for your client’s 50% contribution to the project cost; planning the commercialisation process; preparing the project cash flow.
• Business Plan development – visualisation of the future discussions with your client; documentation of the Plan.
• Budgets and Cash Flow Forecasts – for the next three years; identifying any cash shortages so that consideration can be given relative to extra borrowings, raising capital.
• Investment strategies – assistance in the preparation of investment strategies for your client to present to potential investors.
• Mentoring your client on corporate governance matters – so your client is not embarrassed by not fully appreciating Board of Directors meeting processes when they have some other directors possibly more experienced appointed to their board.
• Mentoring your client on the crowd sourced funding journey – clients will need a full understanding of all of the requirements and the legal requirements for “crowd sourced funding equity raising” – up to $5 million can be raised every twelve months.
• Proactively offering a Chief Financial Officer service to assist your fast-growing clients.

Can you say “Yes” to these questions!

Unfortunately, this is not always the case.

Some accountants do not identify their courageous clients and discuss the type of services that the clients would like to receive.

The end result of this is that most of these clients go somewhere else – sometimes to a firm that is the same size or not much bigger than their current accountants but they go to firms that have indicated in their public communications, website, articles and what their clients are saying that they are proactively prepared to offer the types of services that courageous fast-growing clients are seeking.

Now is the time to commit to offering a broader range of services particularly targeted at “Crowd Sourced Funding Equity Raising for Private Companies”.  Whilst there is a marketplace expectation that substantial amounts of capital will be raised over the next few years, there will probably not be enough deal flow to keep 10,000 accountancy firms happy, but there should be attractive fees that can be generated by 1,000 firms. With Crowd Sourced Funding Equity Raising for Private Companies being operational from around mid-October 2018 now is the time to make a commitment for your firm’s share of this new source of income.

You are invited to participate in the ESS BIZTOOLS free Crowd Sourced Funding Equity Raising for Private Companies Webinar on Thursday, 27 September at 1230 AEST.  (Click here) to register for this FREE webinar.

The Crowd Sourced Funding Equity Raising Package for Private Companies is included in the ESS BIZTOOLS’ Silver Package which is currently available at a special discount of 25% meaning that the 12 months 24/7 subscription is $1,493 plus GST.  Why not visit www.essbiztools.com.au for a full overview of the components of the Silver Package.

If you have any questions on any aspect of the Crowd Sourced Funding Product Package or the ESS BIZTOOLS’ Gold or Silver Packages, please do not hesitate to contact us – or telephone 1800 232 088.

Have a great day!