From Practice to Business
A Three-Year Route to True Advisory® for Accountants
The Advisory Myth explained why accountants struggle to move from compliance into advisory. This whitepaper explores what comes next.
How can an accountancy practice develop genuine advisory capabilities without disrupting the compliance work and recurring revenue it already depends upon?
From Practice to Business sets out a practical three-year route — beginning with one simple principle:
Make your practice your first advisory client.
By applying financial management, strategic planning, systems, people management, marketing and value-creation disciplines internally first, the practice can build the skills, experience and confidence needed to offer them to clients.
A Progressive Route to True Advisory®
Year 1 — Build the Business
Begin converting the traditional practice structure into a business structure, using strategic planning to identify opportunities for improvement. Then begin applying those new skills with selected clients.
Year 2 — Develop Financial Consultancy
Build practical capabilities in budgeting, cash-flow forecasting, management reporting and performance review — first within the practice, then with clients.
Year 3 — Develop Business Advisory
Expand into the wider disciplines of business performance, including People, Operations, Systems, Finance, Marketing and Valuation — creating the foundations of a True Advisory® business.
Inside the Whitepaper
Discover:
Why moving directly from compliance to advisory is so difficult
The skills and knowledge gap holding traditional practices back
Why the practice itself should become the first advisory client
How Financial Consultancy creates a bridge between compliance and Business Advisory
The management disciplines that distinguish a professional practice from a business
A manageable three-year route towards True Advisory®
Ready to explore the route from practice to business?
Download the whitepaper to discover a practical approach to developing new capabilities, strengthening client relationships and building advisory revenue without abandoning your core compliance services.
