Business Planning – really differentiating?

For small accountancy firms, we all can produce year end financial statements; VAT advice; payroll services; secretarial services; and personal tax advice etc. The only thing that tends to differentiate us is the manner in which the services are delivered. The more successful firm will tend to be more communicative, pro-active, and possibly imaginative and may even have a slightly enhanced team of skilled staff. But, it is fair to say that the advice or end product from one firm to the next may look fairly similar.

So what can you offer that really differentiates you from other accountants? And what can you also do that really allows you to understand your clients and binds you to your client for the long term?

From my experience when given the chance to work with a client on a business plan the end result is complete trust, understanding, much better long term professional relationship but most of all something extremely valuable for the client and something rewarding for us.

Providing business planning services need not about producing a 30 page written narrative or a perfectly compiled 5 year forecast. It may also be an informal session where the future of the business is generally discussed over a coffee. Without a doubt, however the format is delivered, the end result in my experience always results is something very positive.

Not all my client want or can afford to pay for a business plan, I hear you say. So let me ask a question – can you afford to have clients that do not think you do not add significant value? You can always offer some business planning within any size budget and where a client genuinely cannot afford it then they probably need it more than ever – what then would you do? I think the answer to this will explain why some accountants are praised and are able to differentiate themselves and others are not.

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