1. ADVISORY SERVICES

2. Identifying And Leveraging Opportunities Within Your Practice

3. Clients don’t buy accounting services They buy the results they perceive those services will bring them:  Enhanced Income  Quality of Life

4.  Clients have many needs, some obvious and some latent  We must learn to recognize the opportunity from the symptoms  Here’s what they look like …

5.  Many small businesses struggle or fail because their owners tend not to be good business managers  They work more “in” their business than “on” it  They lack expertise in finance, operations and planning  To survive or to gain market share they will need proper advice

6.  I don’t know where I am going  I’m not getting the return I want for my effort  My business is too reliant on me  I want to ease out of the business but I don’t know how

7.  I don’t have the information I need to make key decisions  I don’t know how my business is performing at any given time  Management reports are produced too late to be useful  I don’t have a way of checking if my strategies are actually working  The business doesn’t react quickly enough to market changes

8.  No exit or succession plan  No vision  No business plan  No evaluation of attractiveness of current direction  Increasing competition

9.  No systems for developing customer loyalty  No one knows how effective advertising has been  Inadequate sales systems … no targets or measures of effectiveness  No defined unique core differentiators

10.  The long hours they work  Cash Flow  Succession-Transfer of Ownership  Lifestyle needs  Growth of Business  Performance  Competition  Tax effectiveness  Team Development

11. According to a recently released CCH client survey, 36% of business clients said they plan on leaving their accountant within a year. Their #1 reason for doing so - their accounting firm is not keeping up with their changing needs. What an interesting scenario: Accountants are reluctant to talk to clients about their needs, and clients are leaving because accountants don't do so. Asking questions beyond taxes and exploring ways to better serve your clients is not simply an opportunity, it is a responsibility. Not doing so puts you at risk.

12. Accountants are positioned to help their clients solve these problems by providing advisory services Let us look at the model

13.  Owners are poor managers  They know their profession but not how to run and grow a business  They work in their business not on their business  They compete on price  They don’t know how they can improve

14. COMPLIANCE  Assurance  Bookkeeping  Tax filing ADVISORY  Business Development  SWOT analysis  Succession Plan  Evaluation of current direction of the business

15. Helping them grow their business is what small business owners require  Personal Goal setting  Profit Improvement Plan  Business Planning  SWOT analysis  And more

16. Benefits  Higher income  Higher value to client  Firm is differentiated Challenges  Implementation  Time and energy  Passion  Financial Investment Benefits to your firm as well as the challenges of providing these services to your clients

17.  We do only advisory work and do not compete for compliance work  We will provide advisory services to current clients of CA firm  Benefits to Your Firm  Reduced attrition. Provides reason for staying with firm  Provides competitive advantage vs. compliance only firms  No investment required

18.  Does it make sense?  Can you see the benefits?  Can you afford to ignore this opportunity?