Be The First Trusted Advisor

Welcome to this update on ESS BIZTOOLS ADVISORY SERVICES NEWS.

BE THE FIRST TRUSTED ADVISOR

The challenge for Bookkeepers, Accountants and Business Advisers is to have an awareness of your client’s business operations significantly broader than the information required to complete the taxation return.

In 2024 SMEs need regular business services and advice to help them survive in business and scale up – if that is what they wish to do.

ESS BIZTOOLS has developed the “Advisory Intro Product Package” to assist Bookkeepers and Accountants who have not yet offered Advisory Services to commence this process and to become the “First Trusted Advisor”.

In the Advisory Intro Webinar (click here to download the webinar recording) hosted by Peter Towers, Managing Director and Founder of ESS BIZTOOLS the following key points were discussed:

• ADVISORY INTRO PACKAGE is designed for Bookkeeping and Accounting Firms to offer services to:
  • SMEs
  • Charities
  • Not-For-Profit Organisations
  • Sporting Organisations

• Why provide advisory services?

Small business failure has jumped 34% this financial year (Australian Securities and Investments Commission)!

“A large number of small businesses go out of business in their first six months not because their idea was a bad one but because the “fiscal management was poor” Paul Robson, CEO, MYOB said in a recent “Financial Review” article.

Were They Warned?  – Of the issues directly related to starting a small business:

• Payment terms imposed by suppliers for new business operators?
• The cash flow problems that can be created because of supplier payment terms
• Cash flow management is a huge issue – Debtors’ Days Outstanding for many businesses substantially higher than 30 days – were they warned?

As a profession do Accountants/Bookkeepers/Business Advisers share some of the responsibility for the high failure rate of businesses in Australia?

Please let us know your thoughts – send us an email –

We will publish the results in the next “Client Advisory Inc.” newsletter – you can download the most recent Client Advisory Inc newsletter produced by ESS BIZTOOLS and “THE BOSS FACTOR LIBRARY” by clicking here.

The Advisory Intro Product Package is the first of four packages developed by ESS BIZTOOLS to assist professional advisers to deliver “Trusted Advisor Services”

• Preparation of advisory delivery – where do you start?

• Understanding your client from an advisory viewpoint – you need to know your client “1 inch wide – 1 mile deep” – we explain what this means in the webinar.

• Predictive Accounting Reports – Budgets – Key Drivers – Cash Flow Forecast – Projected Balance Sheets – Bookkeepers can start this process, the product package supplies the key forms to assist you.

• 52 weeks Business Enhancement System
  • Businesses operate (in the main 52 weeks) of the year;
  • Business advice is needed regularly not just once a year for a tax return!;
  • We explain the system – daily – weekly; and
  • Monthly – financial accounts – comparison to budget.

• Other Services Resources included in the Advisory Intro Package to assist you to perform the “Trusted Advisor Role”:
  • Government Grants identification
  • preliminary research and development advice
  • innovation grants available
  • Business improvement initiatives
  • Tradie charge out rate calculator
  • Preliminary material relating to capital raising opportunities available for SMEs to assist you to be the source of preliminary information – The Trusted Advisor
  • section 708 of the Corporations Act
  • Early Stage Innovation Company Capital Raising
  • Crowd Sourced Funding Equity Raising
  • Buying a Business – a detailed step-by-step process to advise your client
  • Debtors’ management – this will help overcome the “Fiscal Management” problem identified by Paul Robson – CEO, MYOB
  • Preliminary material on Directors and Board of Advice Members role and responsibilities

All of this material has been developed to assist you to be able to offer advice and respond to questions from your client.  If you only wish to provide basic information that is your decision but you will have the resources to be able to supply that basic information and then if you wish refer your client on to an accountant or other professional who can provide those services – but you will be providing the all-important “First Trusted Advisor Role^”.

If you would like more information on the Advisory Role for support of your SME clients:

• please log onto essbiztools.com.au/packages and pricing or products overview; or
• send us an email outlining your question – .

INTERESTED IN SUBSCRIBING?

If you would like to join us as a member/subscriber please go to packaging and pricing and then click on to “ADVISORY INTRO PACKAGE”.

We look forward to hearing from you.