Beat the recession masterclass, part three: Where to start

For positioning and exit planning some firms may want to consider using the recession as the catalyst for launching a consulting arm under a seperate brand.

Using a separate brand enables you to position the services as premium so you can command a higher price. It also enables you to get under the radar of your competition. And, you don’t run the risk of alienating “traditional” clients who just want accounts and tax and could view the new support as un-necessary.

In terms of exit planning, having a separate consulting brand allows the main practice to be sold and the enjoyable work retained! Seperating consulting services may also make it easier to sell the practice because if consulting services as part of the service mix this may cause the buyer some problems in deliver post sale.

Firms could think about surveying their clients and see what they want/expect. This approach involves your clients in the development of new supporting services so they feel part of it and you get buy-in.

Bob

Did you know that most owner managers are in a very lonely position?

They find it dificult to talk to partners, spouses and their managers.

You as their accountant are in a very special position, you are their trusted adviser.

This is not about selling anything to your clients. It is about having a conversation with them about how they are doing, what challenges they face and if you can help them.

If you don't pick up the phone other people will and you may lose your client.

Government is also anxious to help via grants. In many areas there is money available to carry out financial health checks.

So you are in a great position to help . It is your choice!