You’ve decided you want to provide advisory services, but now what? On this episode of Building Your Multi-Million Dollar Practice we talk about why your clients need advice, what types of information matters most to them, and how you are the right person for the job.
You may remember from previous conversations that there are 8 core disciplines that contribute to the success of every business:
- Client experience
- Top of Mind Awareness and marketing
- Building efficiency
- Regulatory requirements
- Human Resources
- Business planning
- Fiscal and Asset Management
While each component is important to the business, the most important, and most frequently over-looked, is fiscal and asset management. If you aren’t planning for tomorrow, then the reality of tomorrow can destroy the company. In order to move into true advisory, you have to provide more than just a snapshot of historical data. True advisory services focus on building financial stability, increasing profitability, and growing the valuation of the company.
Advisory services are important to small businesses because the company is likely the business owner’s largest asset, and as an accountant or bookkeeper, what you do makes a difference. You have the ability to save the business, which translates into someone’s dreams, and that’s the real value of moving into advisory services.