The Vision Thing

Source: Accounting Today

In this article, Gale Crosley urges CPAs to view themselves as consultants. Most CPAs naturally move beyond pure compliance work and become trusted business counselors to their clients. But for this transition to have an impact on the growth of their practices, they need to formalize it. The first step is for accountants to change their vision of themselves.

Consulting, Crosley explains, is proactive while compliance work is reactive. Consulting “helps clients improve the nature and quality of their decision-making.” It's about influencing the future rather than simply evaluating existing conditions.

To become consultants, CPAs need to learn how to package and price their services differently. They should price consulting services based on value rather than time. Like physicians, consultants should be paid for solving clients' problems, not based on the amount of time it takes them.

Once they make the transition, CPAs begin to respond to client requests as consultants rather than accountants, which can result in more productive, lucrative engagements and highly satisfied clients.

For the complete article, click here and select the article “Leap from accountant to consultant!” in the May 18, 2009, issue.

From Accounting Today, May 18, 2009, SourceMedia Inc., One State Street Plaza, 27th Floor, New York, NY 10004, 800-221-1809.