july2021 - 7

COVER STORY
SITION INTO
OR Y
ICES
By Jim Buffington
refine meeting cadence and more.
Remember, most
successful
results come with periods of experimentation,
testing and learning. There
is no " perfect process. " Find the
combination of best practices that
works best for you, your firm and
your clients.
STEP 3:
OVER COMMUNICATE
THE ROLLOUT
Once you're ready to announce your
advisory services model, the most
critical step is communicating the
change effectively, and in a way that
underscores its value. Then, communicating
it again and again.
Highlighting the value your clients
will get with this new model - additional
tax saving strategies, support
for financial decisions, potentially
improved financial standing or saved
money, retirement and goal planning,
risk management for potential future
crises - will support successful buy-in
from clients looking for real financial
support, not just compliance work.
In fact, a 2020 Intuit survey found
that 79 percent of taxpayers are willing
to pay more for a tax professional's
service if it will result in an improved
financial outcome, like money savings
and reducing tax liability. Providing
examples of the ways in which you've
helped other customers, or how additional
planning and advisory services
could make an impact on your clients
at an individual level, will ensure they
know this transition is only going to
benefit them in the end.
In addition to communicating the
benefits of the new model, it will be
helpful to point out why the transition
is important. Discuss with your
clients that reactive tax preparation
isn't helping them save the most
amount of money, nor is it the best
way to reach their financial goals. By
connecting more often and aligning
with their goals in more detail, you
can not only implement more effective
tax planning and tax advice, but
you can also provide more business
financial advice to help them realize
their financial goals.from the get go,
ultimately leading to the best return.
The thought of transitioning
from a compliance model to tax
planning and advisory services may
be, understandably, nerve-wracking.
Following the three steps above can
help you make the change in a positive
and productive way. In the end, your
clients will appreciate your expertise
in helping to help them achieve the
best financial results. ■
Jim Buffington, CPA, is a customer liaison
with Intuit ProConnect. He has 20+
years of professional experience in sales
management, public accounting, strategic
alliances, product marketing, business
process design, new business development
and strategic planning.
Mindset Shifts That Lead to
Positive Business Outcomes
By Jasen Stine and Marty French
I
n the tax and accounting profession, it's
natural for us to focus on the concrete -
the numbers, the client emails and calls,
the compliance forms, etc. What may be
less natural to some is making soft skills
just as important. The mindset and culture
at your firm have as much impact as your
client relationships, and better culture can
lead to even happier clients. Below you
can read about some of the key areas in
which mindset shifts can lead to positive
outcomes.
Think like an MBA
We spend much of our time focused on our
clients, helping them navigate complex financial
issues and planning their path toward a
successful future. Have you spent the same
amount of energy looking at your own firm and
where you are going? Just as it's important for
your clients to set goals, it's important for your
business as well. Challenge yourself to keep
the mindset of an MBA: focused on meeting
business goals and driving successful planning
toward your ideal future state.
As a leader within your firm, sit down
and think about your vision for the future of
your business. What type of clients will you
serve? What kind of work will you do? Where
do you most want to grow your business? For
additional input, send a survey to other leaders
in your firm and your loyal clients. Ask them
what services are most helpful and important,
what keeps them up at night, and what areas
of their business and/or financials they struggle
with the most. Use these self-questions and
outside insights to inform what service areas
have the potential to drive revenue and to grow
your business into the firm you want to be in
5, 10 and more years.
Once you have identified your strengths,
key revenue drivers, and have a clear vision of
where you want to take your business, you can
begin to set a plan to bridge the gap between
where you are now and where you want to be.
Develop a plan and set specific goals to meet,
and continue to ask questions along the way.
Hire for culture fit
In addition to a vision and plan for the business
side, a mindset focused on hiring the
right people is critical. While, yes, having the
prerequisites for the job are important, hiring
for culture and attitude should be weighted
equally. There's a point when skills can be
taught, but an open mindset, cultural
fit,
positive attitude and desire to make an impact
can't.
Ask yourself: Are the people I'm hiring
going to be open to and excited about the
future of the business? Will they want to help
create a better future for our firm? Looking for
employees who want to do more than punch
numbers can not only improve firm morale, but
will also help you meet your business goals and
ensure clients are set up for success. And don't
forget to keep diversity top of mind. Different
backgrounds and perspectives help the firm
stretch thinking and solve problems in new and
unique, but effective, ways.
By hiring the right people and investing in
them, you create better morale, higher client
satisfaction and, ultimately, higher revenue.
Reassess business structure
Now that you've made a plan for the future of
your firm, and have hired the right people, it's
time to take a step back. Reset your mindset
to be that of someone looking in, an impartial
observer. Look from a high level at your firm's
structure, the different perspectives each
person brings, the processes you have in place.
Are these helping you work toward your goals
or will they work against them?
Organizational structure is a critical consideration.
Is your firm siloed into different groups?
Are people with different skills and expertise
working together on one client? Consider
creating teams across specialties to give your
clients more insights, and perhaps uncover
opportunities they had not seen before. This
nimble structure will also allow you to grow
the business in ways you may not have before.
Mindset matters. Whether
it's focusing
on revenue and business planning,
enhancing culture or
rethinking business
structure, being open to change will allow
your firm to reach new goals and success. ■
Jasen Stine is a tax & accounting education
leader at Intuit. Marty French is an accountant
strategy & business development coach at Intuit.
JULY 2021 ■ www.CPAPracticeAdvisor.com
7
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july2021

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