The Advisory Services Sales Challenge
Accountants Minute 461
Why Advisory Services Must Be Sold, Not Assumed
For many accounting firms, bookkeepers and business advisors, one of the greatest frustrations is knowing they can help SME clients far beyond tax compliance—yet those clients continue to see them primarily as “the tax accountant.”
This creates a significant challenge.
Many SMEs are facing increasing pressure from rising costs, cash flow shortages, labour shortages, productivity concerns and growing competition. They need guidance, planning, forecasting and strategic support.
Yet many business owners never ask their accountant for these services because they simply do not realise those services are available.
The Advisory Opportunity
A key message emerging from a recent discussion between Peter Towers, Managing Director of ESS BIZTOOLS, and Trevor Marchant from The Boss Factor Library, is that advisory services rarely sell themselves.
Business owners understand tax returns, BAS lodgements and financial statements because these services have traditionally been promoted by the accounting profession.
However, many clients are unaware that accountants can also assist with:
✅ Business Planning
✅ Budgeting
✅ Cash Flow Forecasting
✅ Predictive Accounting
✅ KPI Monitoring
✅ Virtual CFO Services
✅ Capital Raising
✅ Research and Development Incentives
✅ Business Improvement Programs
✅ Succession Planning
If clients are not informed about these services, they are unlikely to request them.
The Business Plan Comes First
One of the strongest themes discussed was the importance of business planning.
Many SMEs operate without a documented business plan or have prepared one solely to satisfy a bank requirement.
A business plan should instead be the roadmap for the leadership team.
It should clearly identify:
✅ Where the business wants to be
✅ Key growth objectives
✅ Financial targets
✅ Resource requirements
✅ Risks and opportunities
Once the plan has been developed, budgets, cash flow forecasts and performance reporting can then be aligned with those objectives.
This creates a natural advisory engagement for accountants and business advisors.
Why Monthly Reporting Matters
One of the greatest weaknesses in many SME businesses is relying on annual accounts and tax returns to identify problems.
By the time a tax return is reviewed, the information may be 12 to 18 months old.
If margins have deteriorated, costs have increased, or cash flow has weakened, the opportunity to take corrective action may have long passed.
This is why advisory services focus on:
✅ Monthly financial reporting
✅ KPI monitoring
✅ Budget comparisons
✅ Variance analysis
✅ Cash flow forecasting
✅ Business improvement initiatives
These processes help business owners make decisions based on current information rather than historical data.
The Hidden Advisory Goldmine
Trevor Marchant highlighted a practical exercise that every accounting firm should undertake.
Create a simple matrix listing:
✅ Your existing clients
✅ The services they currently use
✅ Advisory services that may benefit them
The objective is to identify the gaps.
Where a gap exists, there is often an advisory opportunity.
For example:
✅ A client with bookkeeping services may need cash flow forecasting.
✅ A growing business may need a business plan.
✅ A profitable business may require succession planning.
✅ A business under pressure may benefit from KPI monitoring and Virtual CFO support.
The opportunity already exists within many accounting firms' current client bases.
Advisory Services Also Help Attract Talent
Another issue facing accounting firms is talent attraction and retention.
Many younger accountants want to do more than process tax returns and compliance work.
They want to:
✅ Analyse business performance
✅ Interpret financial information
✅ Assist with strategic planning
✅ Work with management teams
✅ Contribute to business growth
Firms that embrace advisory services often provide a more engaging and rewarding career path for team members.
Accountants Are Ideally Positioned
Business coaches, consultants and advisors continue to expand their presence in the SME market.
However, accountants possess a significant advantage.
They understand the numbers.
They have access to financial information.
They can identify trends, risks and opportunities before many external consultants.
This places accountants in a strong position to deliver high-value advisory services that help SMEs improve profitability, cash flow and business performance.
Building Your Advisory Capability
ESS BIZTOOLS has developed a range of advisory resources, training programs and implementation tools designed to help accounting firms, bookkeepers and business advisors expand beyond compliance services and build sustainable advisory revenue streams.
Discover How To Grow Advisory Revenue
If you would like to learn more about how accounting firms, bookkeepers and business advisors can successfully introduce and sell advisory services, we invite you to watch this informative webinar featuring Peter Towers and Trevor Marchant. The discussion explores practical strategies for identifying advisory opportunities, communicating value to SME clients, and building a more profitable advisory-focused practice. The webinar recording provides valuable insights that can help your firm move beyond compliance and unlock new revenue opportunities through advisory services.
Special Offer
The Boss Factor Library, in conjunction with ESS BIZTOOLS, provides a practical pathway to commence or expand advisory services while building the skills, systems and confidence needed to deliver greater value to SME clients.
FIND OUT MORE AND SUBSCRIBE HERE
Visit our website – www.essbiztools.com.au – to discover the detailed overview of the services provided by ESS BIZTOOLS. You are also welcome to contact us on 0418 190 181 or email .
Want to know more?
Visit www.essbiztools.com.au.
If you would like to have a discussion about how this concept of virtual CFO services can be supplied by Australian accounting firms please ring our Managing Director, Peter Towers, on 0418 190 181 and we will arrange a complimentary 45-minute Zoom meeting to discuss your firm’s position and to give you our advice.
We believe that this is the blueprint for the delivery of an enhanced range of services by Australian Accounting and Bookkeeping firms to assist SME businesses to add value to their businesses and to assist accountants and bookkeepers not only to attract but to retain outstanding talent who want to be involved in the delivery of “real accounting services”.
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