The perceived value of accountants & business coaches.
Miriam Hewson
Director at BOSSIT.NZ | I help owners of small businesses master their numbers, elevate their goals and execute their strategies.
No matter who you talk to, many business owners rate the value of a business coach or accountant as minimal. They see the services we provide as a cost or just another overhead.
I recently wrote a review about the future of accounting and what clients expect from their trusted advisers. My findings revealed that our clients need us to keep up with innovative technology and deliver expertise knowledge to guide them into the right direction.
Yes, we are struggling to keep up, like any other industry, but many Accountants pride themselves knowing the stuff, when they don't. This created a lot of trust issues for people because they expect us to have all the answers. The truths is that we can't know it all. It is literally impossible. The solution in my eyes - COLLABORATION!
The review also revealed that clients don't consult accountants because of the fear of being sent an unrealistic bill. But what is unrealistic? Expert knowledge comes with a cost, or if avoided a very possible bigger bill from the Taxman.
If my car is broken, I go to the mechanic. If I'm in pain, I consult the doctor. If I book a holiday, I book with a travel agent. If my business is struggling, I go to a business coach or accountant. It is not a cost, but an investment into your business! It's that simple. I guarantee that every successful business receives advice from a coach or accountant.
How do we make our clients understand the value we provide? It is by way of educating them about the running of their business and how they achieve their goals! It is by way of delivering quality results. It is not by way of just preparing a set of financials and sending the bill. Do your clients understand what your send them each year?
We need to be more pro-active and naturally we were never taught how to be a sales person selling our services. That was not part of our curriculum, but selling and educating are different things. If you don't have the answer, refer your client to someone that does. That doesn't mean that you will loose your clients, in fact I experienced more trust and openness because we are acting in their best interest.