I have this little test I do with Accountants to see if they are servicing their clients properly. Here it is.

Grab any clients’ income statement for 3 years, their balance sheet for 3 years and then explain the ‘story’ of the client to 2 other Accountants in your office. So tell them what the client does, how they do business, what their structure is etc. The other 2 Accountants are then to brainstorm (and you can be part of it as well) the answers to these 8 questions:

  1. What ideas do you have to help this client grow revenue or wealth?
  2. What ideas do you have to help this client increase their profit?
  3. What ideas do you have to help this client understand and improve their cashflow?
  4. What ideas do you have to help this client protect their assets?
  5. What ides do you have to help this client with succession planning or selling their business?
  6. What ideas do you have to minimise tax for this client in the future?
  7. What ideas do you have to help this client to financially retire?
  8. What other opportunities are there to provide extra services to this client that they are not already using?

Don’t spend more than 30 minutes  per client brainstorming. When you do I can guarantee that you have ideas (services) that you can take to your clients that will help them in some of these 8 areas.

These are all needs (services they should be buying) that are currently unmet. They do not know that you know the answers. The client certainly does not know what you know – otherwise they would have done it.

When you do this with all of your clients you will find that 100% of clients have unmet needs. Does it mean they will buy them from you? Not necessarily – but at least you should give them a shot at buying the service(s). Not offering additional services to your clients (especially when you know they need them) is doing your clients a complete dis-service.

You must service your clients properly. If you do not then there are plenty of ‘hungry’ accounting firms that will.