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Go From Compliance to Advisory Services with CashFlowTool

In This Episode

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We keep hearing about how badly we need to move from compliance to Advisory services. Everyone is telling you WHAT to do, but not how to do it.

This is me giving you a REALLY powerful example of how to do it, a long with a way to build a REALLY nice stream of revenue with multiple layers to it.

If Intuit is going to offer bookkeeping services for $250/month or less, it’s because this download, code, and reconcile process can and should be automated. As an automated service it is low value.

The writing isn’t just ON the wall. It’s ALL OVER it. We need to move to higher value services.

There are two ways you can go with this.

Move up to a CFO / advisory consulting model. Instead of doing accounting and bookkeeping we are helping companies build wealth.

The other way you can go is take the very same apps and processes that you have and continue to learn, to automate your own workflows, and start doing it for your clients.

Guide them. Show them how you can do for them what you’ve already done for themselves.

Today I am going to focus on the first option – the CFO / Advisor role.

This means we go from compiling financial statements (which is what traditional accounting and bookkeeping services really did) to analyzing the data.

Managing Cash Flow is probably the most obvious and easiest places to start.

But we have to stop thinking we can just throw dashboards at clients and think that that is advisory services. That’s more like FU go read this and leave me alone.

To do this effectively you have to charge high fees and have fewer clients. You have to take time out and review things together WITH the client.

And then the whole point is for YOU to give the client suggestions for how to (eg) improve cash flow.

And then you follow up the call with good, highly organized, and detailed notes.

The response from your client should read something like this:

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