Strategies for Setting Boundaries and Managing Scope in Advisory Work with Chris Papin

“Spending time onboarding can be tough for firms because it's not billable, but it is probably more important for the value proposition.” – Chris Papin

The finer details of this episode:

• Scoping, setting boundaries, and having next step conversations with clients
• Subscription-based model and building slack into engagements
• Managing scope creep in advisory work
• Impact of economic changes on client needs
• Aligning client and firm expectations
• Implementing change orders for additional services
• Onboarding and spending time on non-billable activities

Episode resources:

• Summit Virtual CFO by Anders website: https://www.summitcpa.net/
• If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.com
• Check out the Virtual CFO Playbook Course: https://vcfoplaybook.summitcpa.net/
• https://www.papincpa.com/
• https://www.linkedin.com/in/chrispapin/

Timestamps:

The Introduction (00:00:00)

Introducing the podcast and its mission to provide insights on accounting strategies and services.

Chris Papin's Background (00:00:56)

Chris Papin shares his journey and the motivation behind his multi-disciplinary approach to accounting, law, and insurance.

Ethical Trust Advisor (00:04:24)

Chris discusses the importance of ethical trust advisor pillars and the difference between scope and boundaries in client relationships.

Scope and Boundaries (00:06:45)

The discussion delves into the approach to defining tasks and boundaries in accounting services, emphasizing the need for flexibility and communication.

Strategic Advisor and Boundaries (00:13:18)

Chris explains the role of a strategic advisor and the ongoing conversation needed to establish and maintain boundaries with clients.

Client Communication and Education (00:17:02)

The conversation revolves around the challenges of communicating technical accounting concepts to clients and the importance of client education and trust-building.

The slippery slope of advisory work (00:20:32)

Discussion on the challenges of defining boundaries and managing scope creep in advisory work.

Talking about talking about it (00:21:48)

Emphasizing the need for action and the impact of missed deadlines on client behavior.

Value and hard conversations (00:25:00)

Exploring the importance of adding value, having opinions, and asking tough questions in client meetings.

Client expectations and firm alignment (00:33:06)

Aligning client and firm expectations early in the process to determine next steps and potential change orders.

Empowerment and change order process (00:38:55)

Discussion on team empowerment to handle conversations and initiate change orders, with consideration for unique client situations.

The client's expectations (00:40:05)

Managing client expectations and limitations when dealing with out-of-state matters.

Client engagement model (00:40:56)

Discussing the importance of clarity in scoping, fees, and trust in client relationships.

Value proposition and onboarding (00:42:47)

Emphasizing the significance of understanding client needs and effective onboarding for a successful value proposition.

Reflecting on client boundaries (00:43:11)

Recognizing the need to assess and address potential client relationship boundaries and discomfort in addressing i