CLIENT SERVICE OPPORTUNITIES

Client Trust Begins with Onboarding

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Smiling businesswoman offering a handshake

How do you want this new relationship to begin?

By Jody Grunden
Building the Virtual CFO Firm in the Cloud

Onboarding is critical when it comes to bringing on new virtual CFO clients. It’s also important to have a smooth onboarding process for clients receiving any other types of services. I want to dive into onboarding in each of our service areas a little bit more.

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I don’t mean to beat a dead horse here, but I simply cannot express enough how important the onboarding process is for establishing extremely solid client relationships. When it comes down to it, relationships are the backbone of our business.
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The Six Stages of 401(k) Audits

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green marker checking boxes

Keep the process from dragging on.

By Jody Grunden
Building the Virtual CFO Firm in the Cloud

As with any service area, it’s important to have a solid process in place. Without one, it can be a little bit like the Wild West! The 401(k) audit process involves six stages, which are typically completed within four to eight weeks.

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Once a prospective client confirms they want Summit to complete their audit, we send them the engagement letter and the questionnaires along with the governance planning memo that we’re required to give them.
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Get Your Fees Faster This Tax Season

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Be sure to provide details.

By Ed Mendlowitz
Tax Season Opportunity Guide

Accounting is a business and businesses need to be paid.

It’s harder to justify prices when providing services rather than products. Products are usually priced before delivery while many times services are priced after delivery, i.e. performance.

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Many accountants price tax returns before they are worked on, usually basing the fee on last year, or a rate schedule. Sending a bill with the return establishes the relationship that you should be paid promptly for the work done.

It shows that you run a business and also provides a courtesy to the client in that they can immediately evaluate the cost and value of what was done.

But just as importantly: READ MORE →

Be Open to Unexpected Opportunities

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gift box wrapped in dollar bills and red ribbon

Good things can happen in surprising ways.

By Ed Mendlowitz
Call Me Before You Do Anything: The Art of Accounting

My friend Al is a sole practitioner with seven staff members and a thriving audit practice, besides the typical tax and small business tax clients.

MORE by Ed Mendlowitz
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He is getting older, and while he has no plans to retire and is actively trying to grow his practice, he periodically meets with larger firms to see if there is an interest in acquiring his practice when that day comes. By doing this he stumbled on a fantastic business development formula.
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