{"id":21177,"date":"2020-09-22T08:00:31","date_gmt":"2020-09-22T13:00:31","guid":{"rendered":"https:\/\/taxprocenter.proconnect.intuit.com\/?p=21177"},"modified":"2023-08-22T11:08:22","modified_gmt":"2023-08-22T16:08:22","slug":"how-to-be-a-proactive-advisor-process-training-and-endurance","status":"publish","type":"post","link":"https:\/\/accountants.intuit.com\/taxprocenter\/practice-management\/how-to-be-a-proactive-advisor-process-training-and-endurance\/","title":{"rendered":"How to be a proactive advisor: process, training, and endurance"},"content":{"rendered":"

Transitioning your practice to advisory services<\/a> can be tough, but it doesn\u2019t have to be. After many years and thousands of hours partnering with some of the best-in-class tax and accounting firms, I have found that those in transition share three key tenants: process, training, and endurance.<\/p>\n

Establish a process<\/b><\/p>\n

A firm\u2019s ability to pivot to an advisory model is equally proportional to having an adequate standardization of processes and controls. This observation is especially true for firms that have not consolidated their clients\u2019 technology. An excellent example of a bad system is servicing multiple years, multiple versions, and numerous vendors for legacy desktop accounting systems. You know this, right? It\u2019s the conversation that usually starts with, \u201cI can work with whatever you bring me.\u201d No \u2013 you don\u2019t have to do this, I promise. Narrowing down, and getting specific with, your clients\u2019 technology, including their technology stack<\/a>, will save considerable time and headaches.<\/p>\n

Lack of a concise, repeatable onboarding program, compounded by having multiple versions of software to consider, can be another often overlooked critical area. The best firms formalized their onboarding, and the very best have learned to carve out a 90-day formal onboarding program. Onboarding is when you get to peek behind the curtain to see the shape of the books. It can help you avoid pitfalls that may not have been discussed in the initial client meeting, look for opportunities to add or expand services and increase firm revenue, and, at a minimum, help your team price future engagements appropriately. I also like a formal onboarding program because it establishes you as the trusted advisor, while grounding your client in an advisory model from the start.<\/p>\n

Josh Lance of Lance CPA Group just wrote an article on the sales and onboarding process<\/a>, so I encourage you to read it for some great tips. In addition, remember to set the expectation to review your client agreements annually. Technology accelerates rapidly, new advances happen daily, and you will want to leave an opening to talk through new apps, pricing conversations, new roles, and responsibilities.<\/p>\n

Another way to be a proactive advisor is to move clients to quarterly closings rather than an annual cleanup of the books. If you think this is impossible, I have some pretty great news for you: You don\u2019t have to move everyone at one time. But, please start with some, and when you are comfortable, move some more.<\/p>\n

After all, if we have any chance of getting the next generation excited about the tax and accounting profession, we have to collectively solve the brutal, massively condensed workloads brought on by year-end compression and driven by tax deadlines. I meet with professionals every week who have done it \u2013 and I\u00a0know you can do it, too.<\/p>\n

Client engagement is another deceptively simple, but massively effective opportunity to create additional capacity within your firm. Set the appointment, funnel the work, and lead. All too often, I meet with accountants, especially tax professionals, who allow their clients to drive their interactions with the firm. You know the scenario I\u2019m referring to: The client calls with a question, comment or concern; your team pivots to try to solve the question, comment, or concern; and before you know it, a full day or two have been eaten up.<\/p>\n

Instead, try to funnel all of those touchpoints into a recurring monthly or quarterly meeting. Consider the following:<\/p>\n