Building the Premier Accounting Firm Stop Giving Free Advice! Get Paid as an Advisor w/ Amanda Watts
In this episode of Building the Premier Accounting Firm, host Roger Knecht interviews Amanda Watts, a business advisory strategist, about transitioning accounting practices into advisory roles. They explore the challenges, pricing strategies, and the unique value accountants bring to business advisory.
Key Takeaways:-
π‘ Define Advisory: Understand advisory as guiding clients to their own solutions through insightful questions, not just providing answers.
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π Address Fears: Acknowledge and overcome the fears holding you back from offering advisory services.
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π° Price on Transformation: Shift from pricing based on time to pricing based on the value and transformation you provide to clients.
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π οΈ Productize Services: Create systems and standardized processes to streamline advisory services and involve your team.
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π Embrace the Advisor Role: Recognize the unique position accountants have to offer comprehensive business advice, combining financial expertise with strategic guidance.
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Amanda Watts "The best advice is not advice. It's asking questions and helping your clients uncover their own solutions with your guidance."
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Amanda Watts "We price on transformation. We don't price on the amount of time you spend."
Amanda Watts' journey began with witnessing her father's burnout and financial struggles as an accountant, due to lack of marketing knowledge and proper pricing strategies. This personal experience fueled her mission to transform the accounting profession, empowering practices to thrive and avoid the pitfalls her father faced. She advocates for advisory services as a means for accountants to provide greater value and achieve financial success.
Conclusion:
Thank you for joining us for another episode of Building the Premier Accounting Firm with Roger Knecht. For more information on how you can establish your own accounting firm and take control of your time and income, call 435-344-2060 or schedule an appointment to connect with Roger's team here.
Sponsors:
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Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.
Offers:
Check out the Business Advisor Podcast and download the Business Advisor Playbook for free at www.BusinessAdvisorPodcast.com or www.AmandasNewBook.com
Get a FREE copy of these books all accounting professionals should use to work on their business and become profitable. These are a must-have addition to every accountant's library to provide quality CFO & Advisory services as a Profit & Growth Expert today:
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"Red to BLACK in 30 days β A small business accountant's guide to QUICK turnarounds" β This is a how-to guide on how to turn around a struggling business into a more sustainable model. Each chapter focuses on a crucial aspect of the turnaround process - from cash flow management to strategies for improving revenue. This book will teach you everything you need to become a turnaround expert for small businesses.
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"in the BLACK, nine principles to make your business profitable" β Nine Principles to Make Your Business Profitable β Discover what you need to know to run the premier accounting firm and get paid what you are worth in this book, by the same author as Red to Black β CPA Allen B. Bostrom. Bostrom teaches the three major functions of business (marketing, production and accounting) as well as strategies for maximizing profitability for your clients by creating actionable plans to implement the nine principles.
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"Your Strategic Accountant" - Understand the 3 Core Accounting Services (CAS - Client Accounting Services) you should offer as you run your business. Help your clients understand which numbers they need to know to make more informed business decisions.
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"Your Profit & Growth Expert" - Your business is an asset. You should know its value and understand how to maximize it. Beginning with the end in mind helps you work ON your business to build a company you can leave so that it can continue to exist in your absence or build wealth as you retire and enjoy the time, freedom, and life you want and deserve.
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Remember this, Accounting Success IS Universal.
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For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777