Applying the Value-add Approach
- Saturday, 29 August 2009
- Running a Firm
Many firms understand the importance of using a value-add approach to improving client service and for developing new business. But an often overlooked area is providing financial analysis to small business clients.
Most small businesses lack resources to support a financial analysis expert, relying on their CPA, accountant or financial advisor to inform them of problems in managing their businesses’ finances.
Although we provide services such as tax, write-up, assurance or payroll services, in most cases our clients assume that we also keep an eye on all finances. This often leads to an expectation gap in client service, which most advisors would like to fill by providing business advisory services. The key to leveraging business advisory services is linking the financial performance of the client’s company to its operations.
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