{"id":91578,"date":"2021-12-05t17:00:45","date_gmt":"2021-12-05t22:00:45","guid":{"rendered":"\/\/www.g005e.com\/?p=91578"},"modified":"2023-08-28t02:07:38","modified_gmt":"2023-08-28t06:07:38","slug":"five-steps-to-producing-higher-value-work-for-your-clients","status":"publish","type":"post","link":"\/\/www.g005e.com\/2021\/12\/05\/five-steps-to-producing-higher-value-work-for-your-clients\/","title":{"rendered":"five steps to building advisory work"},"content":{"rendered":"

both the who and the how.<\/strong>
\n\"hand<\/p>\n

by bill penczak<\/em><\/p>\n

the nirvana (in the esoteric sense, not the kurt cobain context) for cpa firms is to provide \u201chigher value\u201d work for their clients, which traditionally means guiding them with process improvement, predictive analytics on business drivers, or taking proactive measures to reduce risk or tax burden.<\/p>\n

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it is a career builder for your staff and a noble aspiration for the industry.<\/p>\n

but while i have heard managing partners talk about the notion of higher value work, when pressed, they are often at a loss as to what that work would be, and more importantly, whether their mid-level and junior-level staffers (or even partners) have the true skill set to move into the major leagues.<\/p>\n

the burden of meeting compliance deadlines weighs heavily on most staff, and they are weary from deadline pressures of clients\u2019 immediate needs to consider much else.<\/p>\n

perhaps this is the opportunity to help chart your best and brightest to the next level, not only for fear of losing them to industry or another firm, but because as a firm leader, it\u2019s the right thing to do.
\n
\nstep 1: identify your best client \u201cminders.\u201d<\/strong><\/p>\n

david maister is credited with the term \u201cfinders, minders, and grinders\u201d in cpa firms. finders are the hunters who can develop new relationships, minders are those who devote themselves to clients and their needs, and grinders are the brilliant technicians who can answer all the tough technical questions.<\/p>\n

in maister\u2019s vernacular, i would suggest that the minders are those who are best suited for \u201chigher-value work.\u201d that is because they know the client and their business challenges, have a good relationship with the client to have tough conversations and are likely highly valued members of the client\u2019s financial team.<\/p>\n

the radical idea here is to identify some of your rising stars and place them in charge of this initiative. they have the impetus to excel, would appreciate the challenge of creating something new and owning it, and are likely to get more done than a tenured partner with nothing left to prove.<\/p>\n

step 2: specifically define \u201chigh-value work.\u201d<\/strong><\/p>\n

according to a survey by the national center for the middle market, businesses\u2019 top challenges at the end of 2020 were, in order of importance:<\/p>\n