How does True Advisory® make Exit so much easier?
Elevating the client offering to all-round business services secures deeper loyalty and draws in higher fees per client.
The owner is released from compliance work to secure NEFD relationships with the AB grade clients which will survive the sale of the practice.
How?
The journey along the Yellow Brick Road from Compliance to True Advisory® involves tackling and understanding every aspect of how a business works. Thus, gaining the vital experience of devising and personally implementing the essential strategies.
By establishing People management, Operational controls, Systems development, Financial security and Market communication, the team gradually gains the ability to run the compliance and outsourcing client work.
Enabling the owner to move ever closer to the AB clients, and their overall needs, personally.
Everyone becomes expert through direct experience in the essential processes that move any practice or business into ‘best in class performance’.
The practical business skills and resulting self-confidence that grow experientially are essential to critically viewing a client’s business and then to sell a collaborative solution.
So, how does that affect Exit?
The team will learn how to run compliance, outsourcing and taxation with only a light touch from the owner who develops the capacity to become NEFD to a clutch of sound clients.
When the moment comes to sell, the team will have the option for a management buyout, or the owner can sell on the open market a practice that demonstrably runs the core business without him/her.
And s/he gains the option to retain the best clients for advisory work as their NEFD and be there for M&A fees when they too are ready to sell.
Any accountant can do it. Just taking time, brick by brick, along the Yellow Brick Road to True Advisory® City.
So, how long?
Expect 3 years of 1-2 hours per week…
Next step: to explore that and discuss how and whether it could work for you, call me…
