Starting Your Own Client Advisory Service? Follow These Tips.
Whether you offer strategic consulting, outsourcing, or growth services, adding Client Advisory Services (CAS) to your repertoire can earn your firm more money and boost your reputation.
Adding more work to your firm can seem scary. But with planning and preparation, your firm can see great success when adopting CAS. Follow these tips below to transform your practice into the advisory practice of your dreams:
Who do you want to work with:
When looking for new CAS clients, search for the ones that will benefit the most from your new services and are willing to invest in your value. Base your ideal client on more than business size. They should be open to your advice and see you as instrumental to their business’ success.
Pick a niche:
Your clients want you to know the ins and outs of their industry as well as or better than them. Acquiring industry-specific knowledge takes time and effort but will win you the clients you want in the long run. Successful advisors enjoy learning and stay on top of new developments and ways to improve their knowledge in their area of focus.
Stay on top of changing tech:
Advisory services require different workflows and tools than standard accounting practices. It’s important to stay on top of the right technology for your practice and re-engineer your operations to streamline processes. Knowing and utilizing new technologies allows you to successfully transition from a traditional bookkeeping and accounting team into the CAS practice of your dreams.
Become a Cherished Advisor®:
A Cherished Advisor® goes beyond what’s expected of a trusted advisor. They are a valued business partner invited to the decision-making table when making key decisions, not after the fact.
As a Cherished Advisor®, your clients will begin to see you as a valued business partner. You’re not only helping your clients achieve short-term goals but also setting them up to succeed in the long term.
Don’t let another year go by to find yourself endlessly working without knowing if you’re making money. The sooner you do the work to build a solid foundation for your advisory services practice, the sooner you’ll be able to grow and build long-term, successful added value relationships with the clients and industries you love.