By Chandra Bhansali, CEO and co-founder of AccountantsWorld
Recently I hosted a webinar for accountants that discussed the difference between being an advisor and being relevant to their clients. Why is that distinction important? Being relevant is your ability and commitment to do what’s good for your clients. That requires you to ask yourself, what can we do within our firm so we can do what’s good for our clients?
To become relevant, you have to first identify clients’ needs. Next, you have to mold your firm to be able to satisfy those needs. Both of these key activities for making your firm relevant are inward facing. Fortifying your accounting firm from the inside out contrasts to your role as an advisor, where most activities are outward facing towards your clients.
That’s the major difference between being an advisor and being relevant. You must strengthen your firm from the inside before you can be relevant.
To strengthen your firm from the inside out, you must focus on acquiring the abilities needed to prepare your firm to do what’s good for your clients. Here’s an example: if you were to get all your clients in a room and ask, “those who love doing accounting please raise your hands,” how many hands you think will go up? Not many. You know most clients consider accounting a major headache and it distracts them from focusing on their core businesses. If you can take that burden off their shoulders, you’ll be doing what’s good for your clients. You’ll be relevant to their needs. In this case, if you currently don’t offer client accounting services, you have to find the ways your firm can offer outsourced accounting services to your clients profitably.
One more important thing to remember about relevancy is that relevance has a context. You must always ask yourself why something is relevant to your client.
To learn more about being relevant to the needs of your small business clients, click here to see the recording of my latest webinar.