The No. 1 Reason Accountants Fail To Build Advisory Practices

Shift your mindset for COVID-era client services. Stop thinking about selling and start thinking about helping.

By Ty Hendrickson

What is the number one reason that accountants get stuck providing transactional services?

Mindset.

Now, I’m not one of those gurus that preaches mindset and how if you want something in your life, all you have to do is visualize it. That’s not the mindset I’m talking about here. I’m talking about the mentality that accountants “feel bad” for charging someone for their expertise and advice.

MORE: The REAL Problems Created in a Remote Workforce |  Can You Really Grow Without Adding Clients? | 4 Reasons to Welcome Rejection |

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While this is not a new problem, it has bubbled to the surface amidst the Covid-19 crisis. In the vast majority of my conversations with firm owners recently, I hear the same line over and over again, “I’ve spent so much time talking to my clients about loans and explaining their options that I’ve hardly gotten any tax work completed. Now, I have to charge them $1,000 for those conversations, and I just don’t feel like I can do that because I know the financial situation they are in right now. I feel bad.”

What?!?!

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The REAL Problems Created in a Remote Workforce

Three hidden dangers and the two essentials for success.

By Ty Hendrickson, CPA

Working from home creates problems, but these problems are not the ones that firm leaders are concerned about right now.

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I have never seen so many people terrified of a working environment, as I’ve seen over the past month with employees sent home to work. Firm leaders are panicked about productivity and work ethic, which I find hilarious because you are essentially saying that you don’t trust your employees. You don’t trust them to do the same job at home because you aren’t there to monitor their every move. If you don’t trust your employees, why did you hire them in the first place?!

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Can You Really Grow Without Adding Clients?

Large group of people gathered into an upward arrow shapeCombining new sales with upsells is a more reliable strategy.

By Ty Hendrickson, CPA

“Grow your practice without having to add any new clients!”

I seriously gasped when I saw this headline recently. I thought to myself, “Really? What kind of advice is this?!” I had to read this story to find out just what the author was suggesting and how this could be a good long-term strategy for anyone.

MORE: The REAL Problems Created in a Remote WorkforceCan You Really Grow Without Adding Clients? | 4 Reasons to Welcome Rejection |

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As I read through the article, I was secretly hoping to learn some magic bullet or new idea that would make growth easier on so many people who do not like sales. However, as I continued to read, I became more and more anxious about the strategy that was suggested.
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4 Reasons to Welcome Rejection

… and 5 ways to deal with it.

By Ty Hendrickson
The Sales Seed

  • I think I’ll check my email and then make that call to a potential client.
  • After I finish all of my billable work, I’ll work on some emails to potential clients.
  • Instead of calling to follow up on last week’s meeting, I think I’ll just send over my proposal via email.

Does this sound familiar? Why do we procrastinate certain job functions and not others?

MORE: The REAL Problems Created in a Remote WorkforceCan You Really Grow Without Adding Clients? | 4 Reasons to Welcome Rejection |

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There is only one reason and unfortunately, it is the same reason we all have probably struggled with since childhood… the fear of being rejected. It seems so much easier to send out a proposal or any type of communication via email than it is to just pick up the phone or stop by the person’s office.

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