Most Accountants I meet believe that there are opportunities for additional business in their current client base. However, they don’t seem that active in discovering the opportunities nor promoting the services. I think it is a BIG dis-service to the client if you do not promote new ideas and new services.

We recommend that you ‘stay close to the numbers’ with your service offerings. That way you can leverage the delivery of the services to other team members. By all means offer high level consulting however typically that means that very experienced (read expensive) people need to deliver them.

One of the reasons Accountants do not offer additional services is because they are unsure what the client will say and they doubt if they have the knowledge base to deliver the solution.

You have to differentiate between coaching and consulting. Consulting is where the provider comes up with the answers, coaching is where the client is guided and the answers are coached out of the client.

Financial coaching is the way to go. We recommend that your service categories fall in 8 areas. We call it the Awesome 8! It’s what your clients are interested in – over and above compliance services.

Awesome 8

If you follow the Awesome 8 then here are a dozen new services you could create:

  1.  Revenue enhancement – product & service
  2. Cash flow analysis, forecasting & monitoring –product & service
  3. Profit improvement program – product & service
  4. Debt re-structuring
  5. Receivables management service
  6. Inventory management service
  7. Book keeping (serviced from lower cost countries)
  8. Virtual Management Accounting
  9. Cloud conversions
  10. Sort out the numbers program
  11. Planning session
  12. Monitoring & Accountability program

At the end of the day every client should be buying every product they need that helps them achieve their goals!

That should be your goal.