Delivering Business Advisory Services Whilst Positioning Yourself As An Expert
Accountant's Minute 245
Will Business Advisory Services be the number one product in your firm?
Business Advisory Services was nominated by the accounting firms interviewed by the Commonwealth Bank’s Accounting Market Pulse as the “practice area to be in the most demand in 6 to 12 months of 2020/21".
Have you developed a strategy of how you can offer a range of services to assist your clients to organise themselves so as to maximise their opportunity to survive COVID-19 Coronavirus?
Business Advisory in a COVID World
In our next COVID-19 Survival Panel webinar for accountants on Friday, 28th August 2020, Mark Holton, Director, Smithink Pty Ltd and well-known presenter at accounting conferences, will outline a further series of strategies following on from the presentation, “Business Advisory in a COVID World”, that he presented in early July 2020.
In Part 1 of his presentation, Mark commented on the current environment in which many staff and partners were working at home and were having to deal with multiple client questions, demands and management issues. Mark suggested that firms should be developing a suitable and realistic Business Advisory Implementation Plan to assist in developing strategies which would suit the clients of individual accounting firms.
Mark suggested that accountants should be promoting your advisory services proactively to clients – do not wait for others to do it. He also suggested that firms should be tracking Business Advisory Services separately on your Profit and Loss Account and integrating Business Advisory Services into the firm’s overall workflow management.
Mark said it’s very important to look forward… not backwards – Business Advisory Services looks towards tomorrow, not yesterday (leave that for compliance).
Mark identified a number of Business Advisory Services that you could give consideration to offering, including:
- Financial Health Checks
- Business Valuations
- Pre-Lending Assessments
- Board of Advice Meetings
- Review of Debtor and Creditor Balances
- Managing Cashflow
- Managing Inventory
- Managing Work in Progress
- Performance to Various Key Performance Indicators
In next week’s COVID-19 Survival Panel Zoom webinar, Mark will finalise his overview of the business advisory strategies that your accountancy firm could introduce in the COVID world in which we are now all living.
Strategies to Maximise Your Chances of Success from Social Media
Have you ever wondered how you could position yourself as an expert and generate new leads consistently for your firm in this era of disruption in digital transformation? If so, our second keynote presenter on Friday 28th August, Trent Butler, Trent Butler Consulting, will give you an oversight into the strategies that you could be implementing to maximise your chances of success from utilising social media products such as LinkedIn, Twitter and Facebook.
Trent will outline the desirability of ensuring that your key promotional mediums – Website, LinkedIn, Twitter and Facebook, are all prepared on a “corporate theme basis” and that your message is being clearly conveyed to people who have shown the interest to make contact via social media or who have visited your website. We live in a fast changing world which necessitates accounting firms having very good websites which convey important information to clients and prospects and a social media presence which assists in introducing people to your firm’s website.
You can register for this free COVID-19 Survival Panel webinar to be presented on Friday, 28th August 2020 at 12-noon AEST by clicking here. Also, you can view our upcoming webinars by clicking here.
How Accountants Can Add More Value
In last week’s webinar Amanda Gascoigne, Amanda Gascoigne Consulting, discussed “How Accountants Can Add More Value To Their SME Client Relationships”. Amanda highlighted the following key matters for accountants to consider:
- understand your clients' numbers
- help your clients articulate and share their goals with you
- help them plan their business operations
- help them save tax and protect their assets
- help them optimise their business processes
- be their sounding board and give them peace of mind
Resetting Strategies In A Time Of Consumer Change
Andrew Geddes challenged accountants to reset strategies in a time of consumer change. Andrew referred to research undertaken by the Australian Institute of Company Directors which had identified key changes in attitudes by consumers because of COVID-19 Coronavirus.
Andrew stressed that businesses should be defining three key things we have got to “nail” in the next 3 months. He suggested the creation of a 'Senior Leadership Team' to help the CEO operate the business. He indicated it was important to talk to customers to find out what they're doing and thinking about business issues. He stressed that consumers want more trust, reassurance, a hyperlocal emphasis and a human at the end of the line.
Would you like to access last week’s webinar recording?
You can access the recording of last week’s webinar by clicking here.
Access to PowerPoint slides used in last week’s webinar
If you would like to access the PowerPoint slides utilised by Amanda Gascoigne and Andrew Geddes in last week’s webinar presentation please click here.
Want to know more?
If you'd like to know more about the services offered by ESS BIZTOOLS to assist accountants to introduce Business Advisory Services for your clients, why not contact us – please ring Peter Towers on 1800 232 088 and we'll arrange a personal discussion with you and your colleagues about the strategies that we suggest to enable you to be able to proactively assist your clients in a broader range of professional services. Alternatively, you could register for a 30 day free Guest, no obligation trial of ESS BIZTOOLS by clicking here.
If you would like to contact us about any aspect of ESS BIZTOOLS' or ESS BIZGRANTS' products and services, please do not hesitate:
