Accountants: what’s the secret to getting consistent consulting work?

A job as a paid advisor can be a big boost for your accounting firm – but only if you can keep up the momentum.

This can make you more money and deepen your relationships with your clients.

But quickly, the work can dry up. If so, the additional income gained will be lost, and your deep relationships with clients may fade.

You need your advisory work to be a consistent income stream. So how can you achieve it?

A structured plan for winning advisory work

To win consistent consulting work, you need to develop a structured game plan. It should be something you and your team can rely on, time and time again.

With such a plan in place, you can test approaches and see what works. You can also measure your return on the time you invest as doing this work becomes more routine.

It’s a good idea to incorporate paid consulting into your client work from your first meeting. For many clients, this may feel instinctive. You know how a business works and can quickly uncover its pressure points and ambitions. From there, you can develop a series of useful goals and metrics.

However some clients may have additional layers of complexity. How can you take the first step with them? That business is what we will discuss next.

A “day one” consulting approach for more complex clients

The more complex your clients, the harder it is to discover all their hidden ambitions and needs – which they can benefit from paid consulting meetings.

However, there are some important talking points, depending on the client’s situation. Let’s take a look at three complex businesses you’ll encounter and some ways to meet your consulting requirements. After that, we’ll give you a list of key talking points.

1) Private equity (PE) funded clients.

PE funded businesses operate in a different world than their contemporaries. Important targets are set by their investors, who often have executives who sit on the board of directors. Because of this setup, they may have specific metrics to help narrow their focus. There may also be plans for the PE firm to sell your client. To do this in a way that benefits everyone, there may be a lot to do.

The good news is you can help.

In addition to being motivated by the PE firm, clients will also have their own growth initiatives. For example, they may grow through organic expansion or through acquisitions.

2) Charities and non-profits

There is nothing more “complicated” than being a charity.

In addition to winning funding, they must also demonstrate the impact of their funding to those who provide it. They will also pay close attention to the Charity Commission’s reporting standards.

They may also have nagging concerns about policy changes.

3) High net worth individuals

As your company grows, interesting people come knocking at your door. This includes high net worth individuals. They may be in the public eye, and the consequences of unpopular or incorrect advice can have a huge impact.

For them, everything is more real. It was their future, their legacy, their reputation. But they may need a lot of advice if no one has helped them with this before.

Of course, none of this would matter if their investment failed. Does anyone help them manage their wealth?

Your advisor’s checklist for complex clients

You may not put all your consulting tasks into a diary straight away – it would be a lot of pressure if done in one discussion. So, you need to take a look at their calendar, which we’ll cover next.

Make your client calendar work for you

One powerful way to connect with a client’s world is through their next year. Check and see what important events they are hosting – including things they might have never thought to mention.

As part of these important dates, it may be useful to set a deadline on their ambitions. When do they want to see efficiencies kick in? What about key dates for leasing, investment and M&A? By having clear dates, you can put a plan together and track the results.

But there’s one other thing we haven’t mentioned that could make a big difference for your company and its clients.

Helps drive gold standard operations

“Operations” may not seem like a glamorous field, but the results it provides for your company and your clients may change your mind.

This is where the real gold is hidden for your clients. This is buried in new efficiencies in everything from the logistics chain to customer service.

Work with them to explore areas such as:

• Their budget
• Forecasting
• Improve processes
• Efficiency of new technology
• Show
• Strategic planning

What is next? Read our complete guide

Find out how to improve your company’s compliance services, unlock new opportunities, and prepare for any challenge. Get practical steps from IRIS to expand your reach or sharpen your strategic edge. It’s perfect for delivering greater value to complex clients in fast-moving markets.

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