Compliance to Advisory – Making the Switch

switchActually becoming a ‘trusted advisor’ is easier said than done.

For example, here’s a request that came in from a fellow bookkeeper recently…

“I was wondering if you have ever considered doing a topic on how to provide the value data from the financial statements.

I struggle with that and would like to be able to do that. I’m going to look into Finagraph but was just wondering if you would have any more ideas to share.”

She’s not alone. Maybe you’ve felt the same way! There’s definitely a difference between knowing how to prepare financial statements for our clients and analyzing what the numbers mean. In fact, that’s the same struggle our clients have… and why they often ignore the financial reports altogether!

Yet all our efforts to keep the books clean should not solely be so that the client has what they need to submit tax returns after the close of the year. We can provide so much more value to our clients…

  • Assess the financial health of their business…
  • Help identify positive or negative trends…
  • Forecast what demands there will be on cash flow…

… and MUCH more!

The best part is, providing analytical and strategic services for our clients, based on the information contained in the bookkeeping records and financial reports is not difficult, and can be extremely valuable from our clients’ perspective.

So how do you bridge the gap between compliance and advisory for a win-win result?

For one, we can use the tools that are readily available to us. As our colleague mentioned above, there are online analytical tools, such as Finagraph and a host of others, that can be useful in producing graphical information to our clients. Many of the software providers also include some training on how to use these tools effectively.

But not all clients will readily recognize the value of even colorful graphs and charts that show improvement or danger signs from their historical information. This is especially true of very small businesses. Financial discussions of KPIs and cost to equity ratios are too far over their heads to be useful.

To make it a truly valuable, win-win service, we need to meet our clients where they are and speak about what matters to them most. So what do clients care about? In my experience, they perk up quickly when I mention that I can help them improve their results in three key areas…

1. Increase Cash Flow
2. Increase Profits
3. Reduce Taxes

From a marketing standpoint, the most motivating one is the one that removes pain. One of the biggest pains for nearly all businesses is TAXES. If you can help reduce your clients’ tax burden by showing them simple ways to (1) know what their current tax liability is so they can plan and not be blindsided come March or April, and (2) show them how to significantly save on the taxes they owe, they will feel you are an indispensable member of their business success team.

But we are bookkeepers and most of us don’t prepare taxes for our clients. Doesn’t that mean we are not qualified to help our clients save on taxes? In a word: No.

In fact, I think if you don’t prepare taxes it can actually give you an advantage because it helps to protect your client by having two different professionals looking at their situation. You look for savings, and the preparer makes sure it’s accurate. That also helps you to build a complementary professional network and collaborate with your clients’ tax professionals and build mutually beneficial strategic relationships!

Still feeling nervous about this idea? Don’t.

There’s now a tool that makes it very simple to give you the confidence and the professional look to advise your clients easily and add simple yet valuable advisory services to your fee schedule.

Just join me and my special guest, Christopher G. Ragain, CPA, PFS on Thursday, July 28 at 2:00 PM EDT (New York) for a 90-minute webinar “Next Generation Bookkeeping: How to Simplify the Transition from Compliance to Advisory” and we’ll pull out the stops for you.

We’ll discuss how now it’s possible for us bookkeepers to have a major, positive impact on our clients, expand our service offerings to include simple tax advisory services (whether you prepare taxes or not), and use proven software that literally makes it push-button simple. Chris will give us a complete live demonstration on exactly how to do it!

Hope you can join us. This is a major step in the right direction so we can finally become that ‘Trusted Advisor’ to our bookkeeping clients!

Save Your Spot Here

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New Webinar: Next Generation Bookkeeping

next generation webniarThis week we have a brand new, future-facing free webinar for you (hey, you said you wanted more free webinars!)…

“Next Generation Bookkeeping”
How to Simplify the Transition from Compliance to Advisory

WHEN: Thursday, July 21 at 2:00 PM EDT (New York)
In a different Time Zone?

Register here for the free wbinar

Join me and my special guest, Christopher Ragain, CPA of Ragain Financial and creator of Tax Planner Pro software for this exciting new look into the future of the bookkeeping profession and how you can smoothly and easily move your practice to high-value advisory services your clients will love!

We hear lots of theory about how to become your clients'”trusted advisor,” but there’s a serious gap in seeing clear how to go from where we are now (compliance) to get to this brave new (highly profitable) advisory status.

Christopher Ragain is already doing it with his own bookkeeping services arm of his accounting practice, and he’ll share his journey, how he sees us as bookkeepers in relation to CPAs and tax professionals, and why now is the best time to make the small, simple shifts that will significantly up the level of your bookkeeping business… before the end of the year!

This is a free 90-minute class that includes a software demo and live Q&A segment.

Register for the webinar even if you can’t make it live, since the replay will only be made available to those who register for the live class.

Once you’ve saved your spot, feel free to share this email / registration link with any other bookkeepers you know who have been trying to find a way to move toward becoming a true trusted advisor to their clients.

Times are changing, but together we can make it a win for everyone involved! 🙂

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Where to Find Your Ideal Clients (6 of 6)

marketing mini-lessonSo you have a good idea about who your Ideal Clients are, that is, the type of clients you want most, but how can you find them so you can start networking with them?

You may feel like you’re all alone swimming in a vast ocean and don’t know how to find them. That’s a common feeling when first learning how to market your services by building relationships (a highly effective method to proactively grow your bookkeeping practice, by the way). Don’t despair. Today’s mini-lesson will give you what you need to move forward quickly.

My Special Guest, Martin Bissett of Upward Spiral Partnership (USP) gives some very specific actions you can take immediately to find out where your best clients gather, and how to get in front of them. You’ll learn….

  • The 3 questions you need to ask to find them quickly and effectively (even if you’re short on time)
  • How to leverage social media and learn what services they’re most interested in
  • The #1 most powerful way to attract the best of the best in your niche (and what you must do first, or your doomed)

This is just a taste of what we’ll be covering together in the full-length LIVE online class we’re doing on Tuesday, July 12, at 11:00 AM EDT (New York).

Watch the video, then act fast to reserve your seat on the LIVE webinar. (It’s free!) – it’s TOMORROW!

Want more actionable ways to grow your bookkeeping business?

Join us on the free webinar:
“How to Build Your New Client Pipeline… for Bookkeepers”

Click Here to Learn More

Don’t know who Martin Bissett is? Watch the interview I did with him not long ago, and then register for the webinar to get top-notch training to grow your bookkeeping practice like never before!

Missed any of the previous mini-lessons in this series?

Episode 1 “Marketing Confusion: How to Know What Works

Episode 2 “How Do You Attract High-Paying Clients?

Episode 3 “Are You Being Replaced by Software?

Episode 4 “How to Get the Attention of New Clients

Episode 5 “No-Cost Way to Get New Clients

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No-Cost Way to Get New Clients? (5 of 6)

marketing mini-lessonWe always want easy ways to attract new clients, especially on the cheap. But how?

The reality is, there’s no “silver bullet” or magic button you can press to get new clients on demand. In fact, most bookkeepers get the vast majority of their clients through random referrals. If you want to take control of your bookkeeping business growth, waiting for referrals to come in is at best frustrating.

My Special Guest, Martin Bissett of Upward Spiral Partnership (USP) tackles how you can take control of your inflow of new clients in this latest min-lesson video. He reveals….

  • Where you can go to find new clients, night or day (and how to do it, even if you’re short on time)
  • The powerful way to start conversations and identify potential clients who are interested in your services

This is just a taste of what we’ll be covering together in the full-length LIVE online class we’re doing on Tuesday, July 12, at 11:00 AM EDT (New York).

After you watch the video, claim your spot on this exclusive webinar. (It’s free!)

Want actionable ways to grow your bookkeeping business?

Join us on the free webinar:
“How to Build Your New Client Pipeline… for Bookkeepers”

Click Here to Learn More

Don’t know who Martin Bissett is? Watch the interview I did with him not long ago, and then register for the webinar to get top-notch training to grow your bookkeeping practice like never before!

Missed any of the previous mini-lessons in this series?

Episode 1 “Marketing Confusion: How to Know What Works

Episode 2 “How Do You Attract High-Paying Clients?

Episode 3 “Are You Being Replaced by Software?

Episode 4 “How to Get the Attention of New Clients

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How to Get the Attention of New Clients? (4 of 6)

marketing mini-lessonWhen trying to reach out to prospective new clients, one method is to send letters of introduction. But what do you say to stand out from the rest and get the recipient to respond? That’s the dilemma one TFB subscriber asked and is the basis for this latest mini-lesson.

My Special Guest, Martin Bissett of Upward Spiral Partnership (USP) takes it head-on and lights the way to…

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  • The questions you need to answer specifically in your marketing messages
  • The tried and true formula that gets results (and what retailers use on us all the time!)

This is just a taste of what we’ll be covering together in the full-length LIVE online class we’re doing on Tuesday, July 12, at 11:00 AM EDT (New York).

After you watch the video, claim your spot on this exclusive webinar. (It’s free!)

Want actionable ways to grow your bookkeeping business? Join us on the free webinar
“How to Build Your New Client Pipeline… for Bookkeepers”

Click Here to Learn More

Don’t know who Martin Bissett is? Watch the interview I did with him not long ago, and then register for the webinar to get top-notch training to grow your bookkeeping practice like never before!

Missed any of the previous mini-lessons in this series?

Episode 1 “Marketing Confusion: How to Know What Works

Episode 2 “How Do You Attract High-Paying Clients?

Episode 3 “Are You Being Replaced by Software?

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