6 Ways to Move Beyond Compliance Services

Dollar Concept, Financial Adviser Or Finance AdvisoryBecoming a ‘trusted advisor.’

By Sandi Smith Leyva
The Accountant’s Accelerator

Here’s a question: What portion of your revenues are derived from compliance work – e.g., tax preparation and IRS representation; bookkeeping; QuickBooks setup, cleanup and training; payroll; and audit work – versus value-added work, e.g., revenue improvement, business consulting, profit margin analysis and workflow improvement projects?

If you answered 100 percent compliance work and no value-added services, you’re not alone.  There’s a lot of lip service about moving from compliance services to becoming a “trusted advisor.” There’s an equal amount of confusion in how to get started.

Here are a few tips to help those of you who want to move in that direction.