CPA Trendlines Podcasts Tom Wheelwright: If It's Not Fun, Rethink Client Service | Accounting Influencers
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Nov 30, 2024 In this engaging discussion, Tom Wheelwright, founder of WealthAbility and a CPA veteran, shares his insights on transforming client service in accounting. He emphasizes the need for accountants to adopt an entrepreneurial mindset and focus on outcomes rather than tasks. Wheelwright advocates for flat, value-based pricing, which enhances transparency and strengthens client relationships. He also discusses the importance of setting upfront contracts and transitioning from traditional compliance roles to advisory services, ultimately redefining how accountants can deliver meaningful value.
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Billing and Service
- Good client service stems from proper billing to allow adequate service delivery.
- Underbilling creates a cycle of inadequate pay, insufficient work, and poor service.
Asset vs. Expense
- Be an asset to clients by putting money in their pockets, not an expense they want to reduce.
- Demonstrate value by increasing their bottom line.
Upfront Contracts
- Set clear expectations with clients regarding work process and expected outcomes.
- Use upfront contracts to establish a shared understanding before starting work.