{"id":114804,"date":"2023-08-03t11:59:55","date_gmt":"2023-08-03t15:59:55","guid":{"rendered":"\/\/www.g005e.com\/?p=114804"},"modified":"2024-08-27t17:01:42","modified_gmt":"2024-08-27t21:01:42","slug":"beyond-compliance-six-tips-for-adding-value","status":"publish","type":"post","link":"\/\/www.g005e.com\/2023\/08\/03\/beyond-compliance-six-tips-for-adding-value\/","title":{"rendered":"beyond compliance: six tips for adding value"},"content":{"rendered":"
by sandi smith leyva<\/em><\/p>\n here\u2019s a question: what portion of your revenues are derived from compliance work \u2013 e.g., tax preparation and irs representation; bookkeeping; quickbooks setup, cleanup and training; payroll; and audit work \u2013 versus value-added work, e.g., revenue improvement, business consulting, profit margin analysis and workflow improvement projects?<\/p>\n if you answered 100 percent compliance work and no value-added services, you\u2019re not alone.\u00a0 there\u2019s a lot of lip service about moving from compliance services to becoming a \u201ctrusted advisor.\u201d there\u2019s an equal amount of confusion in how to get started.<\/p>\n here are a few tips to help those of you who want to move in that direction.<\/p>\n it\u2019s likely you know more than you think you do! most accountants already have the technical knowledge to offer value-added services. all they need is a little structure and some help with the soft skills. depending on the type of offerings you create, you might need skills such as coaching, teaching and more advanced selling. take an objective look at what you need so you can start to lay out a road map to fill those skills.<\/p>\n yep, if you\u2019re bored or burned out, it\u2019s likely you\u2019re ready for the next great challenge in your career. you may need to get out of your comfort zone, but if you are bored or underutilized, then you\u2019re definitely ready!<\/p>\n be careful with this one. don\u2019t assess your client\u2019s ability to pay. just assess whether they will benefit from your newly designed value-added service. there\u2019s a really big difference, and this is where most accountants hold themselves (and their clients) needlessly back.<\/p>\n value-added services deserve and need to be completely separate service lines. don\u2019t shortchange yourself or your client by thinking you can \u201ctack it on\u201d to something else.<\/p>\n i\u2019m not talking about grandma\u2019s warm apple strudel with blue bell french vanilla ice cream, although that\u2019s tempting. it\u2019s easy to get into the compliance sinkhole, where you need to spend time learning all of the new regulations. start delegating some of that to your team so you\u2019ll be freed up to think bigger.<\/p>\n moving into value-added work is not right for every accountant. if you\u2019re new, about to retire or don\u2019t feel comfortable with selling or soft skills, then it might be best to keep your current focus on compliance work.<\/p>\n","protected":false},"excerpt":{"rendered":"
\ntake an objective look and build your road map.
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